The global quadriplegia treatment market is expected to be valued at USD 1,468.4 Million in 2022. The market's expansion may be linked mostly to an increase in the number of occurrences of spinal cord injuries, as well as an increase in the number of vehicle accidents happening globally each year. The overall demand for quadriplegia treatment is projected to grow at a CAGR of 4.7% between 2022 and 2032, totaling around USD 2,324.4 Million by 2032.
During the forecast period, the worldwide quadriplegia treatment market is expected to rise at a steady CAGR. It's easy to dismiss the significance of mobility. For some unlucky individuals, though, mobility is a distant memory. Quadriplegia is the loss of motor and sensory function in the trunk, arms, hands, legs, and pelvic organs. This means that the patient may not only be unable to walk but that other critical physiological processes may be compromised or lost completely. Of course, quadriplegia has a significant influence on one's quality of life. Exorbitant medical and care expenditures are another consequence.
An increase in the incidence of spinal cord injuries is largely responsible for the increased demand for quadriplegia therapy, which is driving worldwide quadriplegia treatment growth. According to the World Health Organization, almost 500,000 persons worldwide have suffered from spinal cord injuries. In addition, the market for quadriplegia therapy is expanding due to a rise in the frequency of traffic accidents.
Furthermore, as research and development activities in the field of quadriplegia improve, acceptability and demand for quadriplegia therapy are likely to climb during the projection period. Throughout the forecast period, however, the market's progress will be limited by high treatment costs.
| Data Points | Key Statistics |
|---|---|
| Quadriplegia Treatment Market Value 2022 | USD 1,468.4 Million |
| Quadriplegia Treatment Market Projected Value (2032) | USD 2,324.4 Million |
| Quadriplegia Treatment Market CAGR (2022 to 2032) | 4.7% |
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The global demand for quadriplegia treatment is projected to increase at a CAGR of 4.7% during the forecast period between 2022 and 2032, reaching a total of USD 2,324.4 Million in 2032, according to a report from Future Market Insights (FMI). From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 4.3%.
The market's expansion may be linked mostly to an increase in the number of occurrences of spinal cord injuries, as well as an increase in the number of vehicle accidents happening globally each year. According to a World Health Organization (WHO) study, the overall number of yearly road traffic deaths hit 1.35 million in December 2018. Road traffic accidents are now the main cause of mortality among those aged 5 to 29.
Along with these factors, an increase in Research and Development efforts in the field of quadriplegia therapy, as well as an increase in technological developments in the healthcare sector globally, is likely to fuel market expansion in the future years. Furthermore, rising awareness among patients suffering from spinal cord injuries regarding the availability of various treatment choices is expected to provide the market with several potential prospects in the near future.
The Rising Occurrence of Spinal Cord Damage Drives Market Expansion
Quadriplegia is caused by spinal cord damage induced by trauma to the base of the neck or the skull. Some of the most frequent causes of quadriplegia, also known as tetraplegia, are paralysis following an accident, spinal cord tumors, and other spinal cord illnesses. A spinal cord injury can result in partial or complete limb paralysis. According to the Spinal Cord Injury Statistics 2020 datasheet, it is predicted that around 17,810 new instances of spinal cord injuries occur in the USA each year. Stroke, vehicular accidents, falls, violence, sports, medical or surgical causes, and others are some of the causes of quadriplegia.
According to WHO estimates published in June 2021, 20 to 50 million individuals are injured in road traffic accidents each year, resulting in non-fatal injuries but lasting disabilities. With the rising number of traffic accidents, the need for quadriplegia therapy is expected to rise throughout the predicted period. Recent technical advances and numerous Research and Development initiatives in the realm of quadriplegia therapy are two of the primary factors that will drive demand for this market in the future years. Patients suffering from spinal cord injuries are becoming more aware of the different therapy choices available to enhance their quality of life.
Medical Technological Advances are expected to drive Market Expansion
Two of the biggest drivers propelling the worldwide quadriplegia treatment market in the next years will be technological developments and a variety of Research and Development initiatives in the area of quadriplegia therapy.
Patients with spinal injuries are becoming more aware of the numerous therapy choices available to help them overcome their difficulties. Furthermore, significant firms are substantially spending on medication discovery and development in order to provide new and effective therapy. All of these factors are expected to generate various chances for market expansion throughout the forecast period.
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Treatment costs are too expensive, stifling Market Expansion
Complete quadriplegia is the least common type of spinal cord injury, but it is also the most severe. The long-term expenses of quadriplegia can be enormous. In general, it depends on the patient's age. The overall cost of quadriplegia in the first year is predicted to be USD 1,064,716. Quadriplegia costs USD 184,891 each year for the remainder of the patient's life.
A catastrophic injury lawsuit, on the other hand, may seek considerably more, because these figures do not take into consideration the patient's mental agony, suffering, and pain, as well as impaired earning power and lost revenue. As a result, the high cost of quadriplegia therapy may stifle market expansion.
Rising awareness along with Enhanced Healthcare Technology and a high number of treatment options have fueled the demand for advanced quadriplegia treatment.
North America holds the biggest share of 29.5% in 2022, attributed to the rising healthcare issues in the region. The increased geriatric population in the country with unhealthy lifestyles and eating habits is pushing people towards chronic diseases.
Chronic diseases are leading people to severe conditions such as paralysis and quadriplegia. Ultimately, these conditions create favorable conditions for the USA quadriplegia treatment market. Because of improved technology and increased knowledge about numerous treatment choices for quadriplegia, the USA is expected to have the greatest market share.
Different causes are the triggering factor for paralyzing, but stroke is the most prominent one. Other than this, patients with spinal cord and brain injuries have higher chances of getting paralyzed. The government in the USA has started adopting this quadriplegia treatment solution for the betterment of patients suffering from paralysis and quadriplegia treatment solution.
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New electrical stimulation techniques have shown huge gains for people with paralysis and spinal cord injuries
The quadriplegia treatment market in Europe holds a share of 26.3% in the global market. Rising lifestyle-based diseases and injuries in Europe are pushing scientists to transform the diagnosis and treatment processes. Treatment solution vendors have introduced a new hit-and-run solution for the treatment of quadriplegia and other paralysis symptoms. Other than this, electrical stimulation and body alignment process have shaped the quadriplegia treatment market in Europe.
The government’s increased investment in healthcare programs is pushing up the adoption of quadriplegia treatment solutions. The already existing prime institutions for research in neurological illness diagnosis and treatment let innovative technologies penetrate the current treatment methods.
New-age techniques integrated with the old treatment methods have been thriving in the growth of the Korean quadriplegia treatment market while also making it future-ready.
Recovery target priorities of people with spinal cord injuries in Korea compared with other countries make the region future ready for industrial transformation. The rising accidents in the overall Asia Pacific region, including Korea and Japan, have led to neurological issues such as nerve damage, spinal cord damage, age, etc., thriving the adoption of quadruplexing treatment solutions.
The quadriplegia treatment market in Asia Pacific is expected to accumulate a significant market share of 21% in 2022 and is expected to continue to maintain the trend over the forecast period as well. FMI evaluates the development of a Korean version of a hospital-based transitional rehabilitation program that helps paralyzed patients with Tetraplegia & quadriplegia treatment solutions.
Advanced quadriplegic recovery with enhanced prognosis and diagnosis has helped the market perform in Japan.
As we discussed, the rising cases of accidents in Asia pacific have fueled the quadriplegia treatment market growth. Most spinal cord injuries are complex, and a prognosis cannot be given immediately. Though Japanese healthcare system has found advanced prognoses with better imaging and sensory technology to recover the patient faster in the first six months, and small improvements can be expected in a year or two. Other than this, the Japanese government has put in efforts to enable neurology research programs to increase the life expectancy of a quadriplegic patient. The average surviving life cycle of a 20-year-old who suffers high tetraplegia spinal injury is 33.7 years, but with constant improvements, the age can be increased. This gains traction for the Japanese quadriplegia treatment market.
Improved Technology and Increased Knowledge about Numerous Treatment Choices for Quadriplegia to Fuel the Market Growth
The quadriplegia treatment market in North America is expected to accumulate the highest market share of 29.5% in 2022. North America is likely to continue to lead the global quadriplegia treatment market throughout the forecast period. Because of improved technology and increased knowledge about numerous treatment choices for quadriplegia, the USA is expected to have the greatest market share.
The region of the USA and Canada was shown to be the greatest market for the diagnosis and treatment of spinal cord injury (SCI). The primary drivers of this industry are increased awareness and enhanced technology. Alcohol was shown to be one of the most critical elements in the majority of the incidents, accounting for around 25% of spinal cord injuries.
The typical yearly medical cost for treating an acute spinal cord injury in the USA has been estimated to be between USD 15,000 and USD 30,000 per year. All of these reasons are projected to fuel the quadriplegia treatment market's growth and give attractive prospects for providers.
Increasing Spinal Cord Injury Incidence to fuel Market Growth
The quadriplegia treatment market in Asia Pacific is expected to accumulate a significant market share of 21% in 2022 and is expected to continue to maintain the trend over the forecast period as well. Asia Pacific is expected to be among the most profitable market over the projection period owing to the rising prevalence of spinal cord injuries.
Existence of Prominent Research in the Region to Accelerate Market
The quadriplegia treatment market in Europe is expected to accumulate a market share value of 26.3% in 2022. Europe was shown to be the second-largest market for quadriplegia therapy in terms of geography.
The existence of prominent research institutes in the region for different neurological illness diagnoses and treatments is one of the reasons contributing to this significant market share. Another significant driver for this market in Europe is increased knowledge of numerous innovative technologies that let paraplegic individuals live somewhat normal life.
The Hospital Pharmacies Segment to Drive the Quadriplegia Treatment Market
The worldwide quadriplegia treatmentmarket is divided into four segments based on distribution channels: hospital pharmacies, retail pharmacies, drug stores, and online stores. In terms of revenue, the hospital pharmacies segment led the global quadriplegia treatment market in 2020 and is expected to continue to do so during the forecast period.
Start-ups and their innovations are driving some of the most recent advances in the Quadriplegia Treatment sector. Quadriplegia Treatment gives the consumer actionable innovation intelligence and highlights some of the companies. Let's have a look at some of the primary areas of innovation in this industry:
Major makers of quadriplegia medicines include:
Recent Developments:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Market Value in 2022 | USD 1,468.4 Million |
| Market Value in 2032 | USD 2,324.4 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Treatment Type, Route of Administration, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Thailand, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Merck & Co.; Sanofi Pharmaceuticals; Baxter International; Zydus Cadila; GlaxoSmithKline; AstraZeneca; Cipla; Johnson & Johnson; Bristol Myers Squibb Co.; Eli Lily & Co.; Teva Pharmaceuticals; Takeda Pharmaceutical Co Ltd; Hoffmann La Roche; Sun Pharmaceuticals |
| Customization & Pricing | Available upon Request |
By 2022 end, sales of quadriplegia treatment closed at a value of USD 1,468.4 Million
From 2016 to 2021, quadriplegia treatment demand expanded at a CAGR of 4.3%
From 2022 to 2032, quadriplegia treatment is expected to flourish at a CAGR of 4.7%
By 2032, the market value of quadriplegia treatment is expected to reach USD 2,324.4 Million
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Treatment Type 5.1. Corticosteroids 5.2. Non-Steroidal Anti-inflammatory Drugs (NSAIDs) 5.3. Antidepressants 5.3.1. Selective serotonin reuptake inhibitors (SSRIs) 5.3.2. Serotonin and norepinephrine reuptake inhibitors (SNRIs) 5.4. Anticonvulsants 5.5. Narcotic Analgesics 5.6. Antispasmodics & Muscle Relaxants 5.7. Antibiotics 6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Route of Administration 6.1. Oral 6.2. Intravenous 6.3. Others 7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Distribution Channel 7.1. Hospital Pharmacies 7.2. Retail Pharmacies 7.3. Drug Stores 7.4. Online Stores 8. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 13. East Asia Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Merck & Co. 18.2. Sanofi Pharmaceuticals 18.3. Baxter International 18.4. Zydus Cadila 18.5. GlaxoSmithKline 18.6. AstraZeneca 18.7. Cipla 18.8. Johnson & Johnson 18.9. Bristol Myers Squibb Co. 18.10. Eli Lilly & Co. 18.11. Teva Pharmaceuticals 18.12. Takeda Pharmaceutical Co Ltd 18.13. Hoffmann La Roche 18.14. Sun Pharmaceuticals 19. Assumptions & Acronyms Used 20. Research Methodology
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Quadriplegia Treatment Market
