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Over the past years spinal cord injury treatment is witnessing a considerable growth owing to the technological advancements happening in the field of osteopathic devices. Spinal cord injury is catergorised as one of the most seevre forms of injuries of the human body. Spinal cord injuries are predomananlty clasigied uncer temporary or permanent injury. An injury to the spinal cord entainls loss of muscle funtion and autonomous functioning and sensation in any part of the body. Spinal cord injury treatment usually involves use of rehabilitation and internal fixation devices. In November 2020, Spiderworth Inc., received a U.S FDA Breakthrough Device recognistion for its Spinal cord Scafold Implant named CelluBridge.
The spinal cord injury treatment market is predominantly driven by the increasing incidence of spinal cord in injuries globally. For instance, according to the National Center for Spinal Cord Injury Statistical Center stated that annual incidence of spinal cord injury is approximately 54 cases in a million population. Innovation in the field of spinal cord injury devices among major player s are also estimated to fuel the market growth in the coming years. For instance, in June 2020, the U.S FDA granted breakthrough designation to Go-2 targeted epidural spinal stimulation system indicated to promote leg motor function recovery in patients suffering from spinal cord injury (SCI)
However, recent product recalls pertaining to the spinal cord stimulator devices by regulatory authorities could impact the market growth in the coming years. For instance, Medtronic Intellis Spinal Cord Stimulator was recalled from the market in January 2021 owed to the software malfunctioning of the implantable neurostimulation device.
Key Market Driver -
Increasing incidence of spinal cord injuries
Key Market Restraint -
Product recalls of spinal cord stimulator devices
Globally, the spinal cord trauma treatment market can be categorized on the type, end-user, and region. Among the segmentation of type, the market can be categorized into external fixation devices and internal fixation devices. Based on the segmentation of end-user the market can be divided ambulatory surgical centers, hospitals, clinics, and others.
Geographically, the Spinal Cord Trauma Treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the spinal cord trauma treatment market are Medtronic, DePuy Synthese, Stryker, Globus Medical, Boston Scientific Corporation, Abbott, Stimwave LLC, Nevro Corp, Nuvectra, and others
Based on segmentation of geography, the spinal cord trauma treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is expected to dominate the global spinal cord trauma treatment market. These regional dynamics is attributed to factors such as larger presence of key players, higher adoption of advanced spinal cord devices, robust efforts by government to improve usage of these devices in healthcare settings. For instance, In September 2020, the U.S FDA updated guidelines that focuses on conducting a trial stimulation before implanting a spinal cord stimulator. Such efforts to benefit market growth in the region.
On the other hand, the market in Europe is driven by factors such as favorable reimbursement policies and higher focus of key innovators to seek CE market approval by the European regulatory authorities, among others. Increasing affordability and evolving healthcare infrastructure of countries such as China and India is projected to positively influence the growth of the market in Asia Pacific. Developments in public and private healthcare sectors in countries of Latin America and Middle East and Africa is anticipated to surge the market growth in these region.
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