Quadriplegia Treatment Market Opportunities, Leading Players, Size And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Quadriplegia Treatment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The quadriplegia treatment market size has grown strongly in recent years. It will grow from $1.78 billion in 2023 to $1.92 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to improved surgical techniques, the introduction of drugs like corticosteroids, advances in stem cell therapy and regenerative medicine, the development of specialized rehabilitation programs, increased awareness and advocacy efforts by organizations, and patient groups.

The quadriplegia treatment market size is expected to see strong growth in the next few years. It will grow to $2.60 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to the expansion and modernization of healthcare facilities, increased funding for research and development in spinal cord injury treatments, the growing availability and adoption of advanced wheelchairs, exoskeletons, and other mobility aids, integration of telehealth and remote monitoring, the adoption of telehealth services. Major trends in the forecast period include advanced exoskeletons, robotic rehabilitation systems, expansion of telehealth platforms providing remote consultations, utilization of AI and machine learning algorithms to predict complications, and advances in 3D printing to create customized orthotic and prosthetic devices.

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Market Drivers and Trends:

An increase in the incidence of spinal cord injuries is expected to propel the growth of the quadriplegia treatment market going forward. Spinal cord injuries (SCIs) are damage to the spinal cord resulting from trauma or disease, leading to loss of function such as mobility or sensation below the injury site. The incidence of spinal cord injuries is increasing due to factors such as higher rates of motor vehicle accidents, falls, sports injuries, and violence. Quadriplegia treatment for spinal cord injuries focuses on maximizing functional independence and quality of life through rehabilitation, assistive technologies, and medical management. For instance, in October 2022, according to the New Zealand Spinal Trust report, a New Zealand-based non-profit organization, the number of sporting and leisure spinal cord injuries (SCI) in New Zealand increased from 14% in 2020 to 19% in 2021. Wheeled non-motorsports (such as mountain biking and cycling) accounted for 25% of these injuries, followed by water-related accidents (18%) and horse-related accidents (14%). Therefore, an increase in the incidence of spinal cord injuries is driving the growth of the quadriplegia treatment market.

Major companies operating in the quadriplegia treatment market are developing new products, such as wireless tongue-controlled interfaces, to improve mobility and independence for patients. Wireless tongue-controlled interfaces in quadriplegia treatment enable individuals to operate devices or communicate through tongue movements, enhancing their independence and quality of life. For instance, in April 2023, Media Lab spinoff Augmental, a US-based provider of digital devices and interfaces, launched MouthPad, a tongue-controlled interface that enables users to interact with digital devices hands-free. This innovative device is designed to be a game-changer for people with limited hand-motor control as well as for anyone looking to interact with computers in a more natural and expressive way. It uses a custom-fit, 3D-printed mouthpiece with a trackpad chip that detects tongue movements and pressure. This allows users to control their devices by sweeping their tongue across the trackpad, with tongue presses for left clicks and sip gestures for right clicks.

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Major Key Players of the Market:

Johnson & Johnson Services Inc., Merck & Co., Sanofi S.A., Bristol Myers Squibb Co., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Roche Holdings Inc., Takeda Pharmaceutical Co Ltd, Medtronic plc, Eli Lily & Co., Koninklijke Philips NV, Stryker Corporation, Teva Pharmaceuticals Industries Ltd., Baxter International, Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Sun Pharmaceutical Industries Limited, Cipla Ltd, Ottobock SE & Co. KGaA, Zydus Lifesciences Ltd., Invacare Corporation, Sunrise Medical Company Private Limited, Pride Mobility Products Corp.

Quadriplegia Treatment Market 2024 Key Insights:

• The quadriplegia treatment market size is expected to see strong growth in the next few years. It will grow to $2.60 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Rising Incidence Of Spinal Cord Injuries Fuels Quadriplegia Treatment Market
• Mobility Solutions For Quadriplegia Treatment Enhanced Market
• North America was the largest region in the quadriplegia treatment market in 2023

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