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Global Spinal Cord Injury Therapeutics Market, by Injury Type (Complete Spinal Cord Injury and Incomplete Spinal Cord Injury), by Drug Type (Corticosteroids, Muscle Relaxants and Anti-spastic drugs, Non-steroidal Anti-inflammatory drugs ( NSAID’S), Anti-depressants, Anticonvulsants, and Others), by Application (Autonomic Dysreflexia (AD), Spasticity & Inflammation, Pain Management, and Depression), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,630.7 million in 2020 and is expected to exhibit a CAGR of 6.7% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Rising government investments in key companies to promote research and development for treatment of spinal cord injuries is expected to drive the global spinal cord injury therapeutics market. For instance, in 2018, BioAxone BioSciences, Inc. announced that they received two-year grant of US$ 1.1 Million, which provides funding for further development of BioAxone's preclinical candidate BA-434, a novel sd-rxRNA compound that targets phosphatase and tensin homolog (PTEN) for the treatment of spinal cord injury (SCI). The funding was granted from the National Institute of Neurological Disorders and Stroke (NINDS), a part of the U.S. National Institutes of Health.

Global Spinal Cord Injury Therapeutics Market – Impact of Coronavirus (COVID-19)

  • The COVID-19 pandemic has drastically impacted each and every market across the world. Therefore, academic institutes are taking initiatives to combat spinal cord injury amid Covid-19.
  • In order to manage spinal cord injury patients during the COVID-19 pandemic, various academic institutes and companies are taking initiatives to combat various difficulties faced by individuals such as shortage of personal healthcare attendant and health care treatments for individuals suffering from spinal cord injuries during the COVID-19 pandemic. For instance, in May 2020, United Spinal Association, a nonprofit membership, disability rights, and veterans service organization deployed a United Spinal’s Policy department, which keeps track and informs Washington, DC, state officials and legislators about the gaps created by COVID-19 in services to individuals suffering from spinal cord injury and also ensure United spinal association members have access to healthcare and community supports.

Browse 33 Market Data Tables and 32 Figures spread through 175  Pages and in-depth TOC on “Global Spinal Cord Injury Therapeutics Market, by Injury Type (Complete Spinal Cord Injury and Incomplete Spinal Cord Injury), by Drug Type (Corticosteroids, Muscle Relaxants and Anti-spastic drugs, Non-steroidal Anti-inflammatory drugs ( NSAID’S), Anti-depressants, Anticonvulsants, and Others), by Application ( Autonomic Dysreflexia (AD), Spasticity & Inflammation, Pain Management, and Depression), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”

To know the latest trends and insights prevalent in the global spinal cord injury therapeutics market, click the link below:

https://www.coherentmarketinsights.com/market-insight/spinal-cord-injury-therapeutics-market-4305

The market is expected to witness significant growth during the forecast period, owing to key players focusing on research and development for the treatment of spinal cord injury. For instance, in 2019, BioArctic AB, a Sweden-based research-based biopharmaceutical company, announced that they are currently in phase 2 clinical trial of investigation study on treatment of spinal cord injury with its product candidate SC0806 and also stated that they have initiated enrolling of subjects to study the efficacy and safety of product.

Key Takeaways of the Global Spinal Cord Injury Therapeutics Market:

  • The global spinal cord injury therapeutics market is expected to exhibit a CAGR of 6.7% during the forecast period, owing to key companies focusing on research and development for the treatment of spinal cord injury.
  • Among injury type, complete spinal cord injury segment is estimated to hold major market share in the global spinal cord injury therapeutics market during the forecast period, owing to increasing prevalence of complete spinal cord injury in individuals globally. According to World Health Organization report published in 2014, stated that approximately 2500000 to 500000 individuals are affected by spinal cord injury globally each year.
  • Among drug type, corticosteroids segment is estimated to hold major market share in the global spinal cord injury therapeutics market during the forecast period, owing to key companies focusing on treatment of spinal cord injuries with the corticosteroids due to its efficacy. According to US National Library of Medicine Report published in February 2020, stated that high dose of methylprednisolone is effective in the treatment of spinal cord injury.
  • Key players operating in the global spinal cord injury therapeutics market include ReNetX Bio, InVivo Therapeutics Hldg, GTX Medical, Acorda Therapeutics, Lineage Cell Therapeutics, AbbVie Inc., Asterias Biotherapeutics, Inc, BioArctic, Kringle Pharma, Inc., Pfizer Inc., Pharmicell Co., Ltd., Bioaxone Biosciences, Inc., Vertex Pharmaceuticals Inc., Biogen Inc., RespireRx Phamaceuticals Inc., NervGen, Lannett Co Inc, Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories, MSN Laboratories Private Limited, Rising Pharmaceuticals, Inc., ScieGen Pharmaceuticals, Inc, and Cadila Healthcare Limited.
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