Quadriplegia Treatment Market Report 2022: R&D Consistency Drives Sector Growth
In 2022, the Quadriplegia Treatment Market size is anticipated to be worth US$1,468.4 million. The global demand for quadriplegia therapy is anticipated to reach around US$ 2,324.4 Million by 2032, growing at a CAGR of 4.7% between 2022 and 2032.
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The demand for quadriplegia treatment will progressively rise, which will provide manufacturers with numerous favorable development opportunities in the near future.
Key Drivers of Quadriplegia Treatment Market
Quadriplegia is caused by spinal cord injury which is caused due to trauma at the base of the neck or skull. Some of the common causes of quadriplegia, otherwise known as tetraplegia are paralysis after any accident, tumors of the spinal cord or other spinal cord diseases. The injury to the spinal cord may cause partial or total limb paralysis.
According to 2020 data sheet of Spinal Cord Injury Statistics, it was estimated that approximately 17,810 new cases of spinal cord injuries occur every year in the U.S. Some of the reasons for quadriplegia include stroke, vehicular accidents, falls, violence, sports, medical or surgical causes and others.
According to WHO statistics, published in June 2021, 20-50 million people suffer from road traffic accidents every year which lead to non-fatal injuries yet permanent disabilities to them. With the increasing rate of road traffic accidents, the demand for quadriplegia treatment is set to show a positive growth over the forecast period.
Recent technological advancements and various R&D activities in the field of quadriplegia treatment are one of the leading causes which will boost the demand for this market in forthcoming years. There is an increased level of awareness amongst the patients suffering from spinal cord injuries about various treatment options available to improve their quality of life. This is another factor which will propel the demand for various treatments for quadriplegia during the forecast market.
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Electrical Stimulation: Revolutionary Technique that Got Quadriplegic People Back on their Feet.
Electrical stimulators which were originally designed to treat chronic pain helped more than a dozen patients with quadriplegia to wiggle their toes, flex their legs or even walk with support.
This was a revolutionary technique which was conducted in the lab of University of Louisville in Kentucky. Electrical stimulation thus made promising and huge gains for people with paralysis wanting to regain their functionalities. The study was published in July 2019, after which thousands of patients have enrolled in the wait lists for the electrical stimulation technique.
Key player of Quadriplegia Treatment Market
Major manufacturers of medications needed to treat quadriplegia are
- Merck & Co.
- Sanofi Pharmaceuticals
- Baxter International
- Zydus Cadila
- Johnson & Johnson
- Bristol Myers Squibb Co.
- Eli Lily & Co.
- Teva Pharmaceuticals
- Takeda Pharmaceutical Co Ltd
- Hoffmann La Roche
- Sun Pharmaceuticals.
In November 2020, Pfizer and Mylan announced the merger of Pfizer’s Upjohn generics unit and Mylan. This deal was a part of restructuring drive at Pfizer, which was aimed for stronger foothold in the innovative medicines division of the company.
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By Treatment Type:
- Non- Steroidal Anti-inflammatory Drugs (NSAIDs)
- Selective serotonin reuptake inhibitors (SSRIs)
- Serotonin and norepinephrine reuptake inhibitors (SNRIs)
- Narcotic Analgesics
- Antispasmodics & Muscle Relaxants
By Route of Administration:
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Stores