The global spinal cord trauma treatment market is expected to grow at a compound annual growth rate of 3.7 percent through 2027, according to a Persistent Market Research report.
Here are eight observations.
1. The market was worth nearly $2.28 billion in 2017.
2. By 2025, the global spinal cord trauma treatment market will likely hit nearly $3.04 billion.
3. The growing prevalence of spinal cord trauma cases and increasing support by the government to decrease spinal cord injuries will drive market growth.
4. The development of nerve cell growth therapy will also expand the market.
5. The hospitals end user segment dominates the global market, grabbing 52.5 percent of the market by 2025.
6. Segmented into injury type, partial spinal cord trauma will grow more than complete, growing at a 3.8 percent CAGR through 2025.
7. While the Asia-Pacific region will experience much market growth, the Middle East and Latin America will not see significant market growth.
8. Key market players include Acorda Therapeutics, AsteriasBiotherapeutics, ReNetX Bio, BioArctic, BioTime, InVivo Therapeutics, KringlePharma, Novartis, Pfizer, Pharmicell, Vertex Pharmaceuticals and Bioaxone Biosciences.