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Spinal Cord Trauma Treatment Market Size, Share & Industry Analysis, By Type (External Fixation Devices, Internal Fixation Devices), By End-user (Ambulatory Surgical Centres, Hospitals, Clinics, Others) And Regional Forecast 2020-2027

Region : Global | Report ID: FBI104817 | Status : Ongoing

 

KEY MARKET INSIGHTS

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


Market Segmentation:


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.


Key Players Covered:


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


Key Insights:



  • Key Industry Trends

  • New Product Launches by Key Players

  • Key Industry Developments – Merger, Acquisitions, and Partnerships

  • Incidence of Spinal Cord Trauma Treatment, Key Region

  • Overview of Regulatory Scenario – Key Country/Region

  • COVID-19 Impact on Spinal Cord Trauma Treatment Market


Regional Analysis:


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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Segmentation






















 ATTRIBUTE


  DETAILS

By Type




  • External Fixation Devices

  • Internal Fixation Devices



By End-user




  • Ambulatory Surgical Centres

  • Hospitals

  • Clinics

  • Others



By Geography




  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)



Spinal Cord Trauma Treatment Market Industry Developments



  • The neuromodulation segment of Boston Scientific witnessed a 24.6% decline in sales globally during the first half of 2020 when compared to 2019 due to the outbreak of COVID-19.

  • In January 2019, National Institute of Health and Care Excellence published a guideline and recommendation for the use of Sena SCS System, which delivers HF10 therapy to treat patients with neuropathic pain.

  • In January 2020, Medtronic completed the acquisition of Stimgenics, a developer of novel spinal cord stimulation waveform called Differential Target Multiplexed (DTM) SCS.  


Spinal Cord Trauma Treatment Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

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