Spinal Cord Injury Treatment Market Size and Growth Analysis

The spinal cord injury treatment market was valued at USD 7.13 billion in 2023 and is expected to grow to USD 11.00 billion by 2032. This growth represents a projected compound annual growth rate (CAGR) of 4.8% from 2024 to 2032.

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Report Highlights:

• Complete spinal cord injuries dominated the market in 2023 with 60% market share.
• Corticosteroids accounted for 40% market share in 2023.
• Hospitals were largest shareholders with 60% market share in 2023.

Older Adults and Spinal Cord Injuries

According to estimates from the National Spinal Cord Injury Association, around 282,000 individuals in the United States are affected by spinal cord injuries (SCI), with approximately 17,000 new cases diagnosed annually. These statistics highlight an increasing need for spinal implants and devices due to the rising prevalence of SCIs.

As our society progresses, the instances of spinal cord injuries are becoming more common due to various factors, including car accidents, falls, sports injuries, and violent incidents. These injuries can be severe, requiring specialized treatment for recovery.

Aging and Vulnerability to Spinal Issues

As people age, their bodies undergo significant changes, making them more susceptible to spine-related issues such as degenerative disc disease and spinal cord injuries. With the global population aging, a growing number of individuals face these challenges.

Overview of Spinal Injuries in Australia

Approximately 20,800 Australians live with a spinal cord injury, often resulting from traumatic events experienced in youth or middle age. Traumatic causes, such as road accidents, falls, and sports injuries, account for 81% of spinal cord injuries in individuals under 65. In contrast, non-traumatic causes—like tumors and degenerative disorders—are the leading contributors to spinal cord injuries among those over 65.

As we age, the bones and discs in our spine can deteriorate or become more prone to injury, leading to conditions that affect the spinal cord. Injuries to the spinal cord can result in difficulties with movement, sensation, and other bodily functions, necessitating an increased demand for treatments that address these issues.

Treatment Approaches for Spinal Cord Injuries

Treating spinal cord injuries often involves a combination of interventions. Some individuals may require surgery to repair their spines, while others may need rehabilitation to relearn movement and regain functionality. As the number of older adults facing these challenges rises, the demand for effective treatments also increases.

Healthcare providers and researchers are working diligently to develop new and improved methods for treating spinal cord injuries and age-related spine conditions. Their goal is to enhance the quality of life for those affected by these challenges. Through advancements in medical technology and rehabilitation techniques, they aim to provide better care and support for individuals with spinal cord injuries.

Innovative Techniques for Treating Spinal Cord Injuries

Researchers and doctors are collaborating to develop advanced techniques for helping those with spinal cord injuries. Some of the most promising approaches include:

• Electrical Stimulation Systems: These systems use electrical stimulation to restore hand function, postural control, and bowel and bladder control for individuals with spinal cord injuries. This research is supported by the National Institute of Neurological Disorders and Stroke (NINDS).
• Spinal Cord Stimulation: Another area of focus involves stimulating the spinal cord below the injury level to enhance the function of preserved cells and fibers. This research is also backed by NINDS.
• Brain-Computer Interfaces (BCIs): Experimental BCIs are being developed to enable individuals to control a computer cursor or robotic arm directly with their thoughts, also led by NINDS.

Beyond physical interventions, rehabilitation methods play a crucial role in helping individuals adapt and thrive again. These therapies help those with spinal cord injuries learn to move and function again through targeted exercises and support.

Recent advancements in spinal cord injury research include:

• KA-301 Treatment: In August 2023, Kaneka Corporation, a Japanese chemical company, began testing a stem cell-derived treatment (KA-301) on individuals with acute spinal cord injuries.
• NVG-291 Drug Trials: In September 2023, NervGen Pharma Corporation announced the first dose of their experimental drug NVG-291 was given to a trial participant, exploring its potential benefits for spinal cord injuries.
• NanoTi Spinal Implants: In October 2022, Rosies Base partnered with SpineCraft to develop improved spinal implants for treating back injuries, utilizing a special type of titanium known as nanoTi.

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