Global Spinal Cord Tumor Market - 2022-2029

Global Spinal Cord Tumor Market - 2022-2029

Market Overview

The global spinal cord tumor market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

A malignant tumor generated by aggressive aberrant cell proliferation in the spinal canal or vertebrae is spine cancer. This form of tumor can spread to the spine's vertebrae and significantly impact the brain. A spinal tumor patient may have discomfort, neurological problems, and lifelong disability. Tumors of the spinal cord and vertebrae can be malignant or noncancerous, but both can cause impairment and even death. Treatment for spinal tumors varies depending on the form and location of the tumor and any other major health issues that may be present. Treatment options for spinal tumors range from simple observation and monitoring to comprehensive surgical removal.

Market Dynamics

Innovation in the surgeries for the treatment of Spinal Cord Tumor is expected to drive market growth.

SRS (stereotactic spine radiosurgery) is a cutting-edge, non-invasive treatment for both malignant and benign spine lesions. It uses radiation delivery technology that delivers a high radiation dosage to the tumor (s). SRS uses narrow radiation beams to precisely target the tumor, maximizing the radiation dose to the tumor while reducing exposure to neighboring normal tissue. This highly targeted radiation dose frequently results in pain relief and tumor control. The treatment can be as simple as one outpatient session. Moreover, Stereotactic spine radiosurgery requires virtually no recovery time, and it often results in rapid pain control that can significantly improve functionality. Thus, the market is expected to drive in the forecast period from the above statements.

Restraint:

The high cost for the treatment of Spinal cord tumors associated with their products, restricted access to necessary healthcare facilities and lesser effective targeted treatments are factors the market is expected to hamper in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. Patients with cancer are at a higher risk of problems. This is because cancer and its treatment might compromise your immune system. Reduce your ability to combat illnesses by opening a glossary item. The immune system defends your body against viruses like the coronavirus, which can cause illness and infection. Strict triaging is used to prioritize emergency radiotherapy for spinal cord compression, bleeding, or bone fractures and chemotherapy for quickly growing but curable diseases such as germ cell tumors and trophoblastic illness. Many patients could not travel for any treatment because of the limited number of comprehensive cancer facilities. For instance, In the first six weeks of April 2020, Ghana's preventative, diagnostic, oncologic, and supporting services were completely shut down.

Moreover, Fear, knowledge gaps, complementary and alternative medicine use, financial hardships from lost income and reduced support from family, friends, and churches are why many patients continue to remain away. Some individuals came back with advanced disease and a lower quality of life. Clinic waiting times have grown due to shifting work among limited staff and adherence to COVID-19 procedures, resulting in increased patient anguish and staff burnout. Additionally, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of the economic activities.

Segment Analysis

Surgery segment is expected to hold the largest market share in spinal cord tumor market

The surgery segment is expected to dominate in 2021. It is frequently the therapy of choice for removing malignancies without causing damage to the spinal cord or nerves. Newer procedures and devices enable neurosurgeons to access previously thought to be inaccessible malignancies. Microsurgery's high-powered microscopes make it easier to identify malignancy from healthy tissue. During surgery, doctors can also monitor the function of the spinal cord and other vital nerves, reducing the risk of injury. During surgery, very high-frequency sound waves break up tumors and remove the fragments. For instance, Radiofrequency Ablation is a Minimally Invasive Non-Surgical Procedure for nonresectable spinal tumors. The purpose of ablation, which includes cryoablation and microwave ablation, is to treat at least part of the tumor and offer tumor control. It involves the placement of a needle through a very small incision in the back and into the tumor in the spine with little trauma to the patient. Therefore, it has increased the demand for surgery. Thus, the market segment is expected to hold the largest market share in the forecast period from the above statements.

Geographical Analysis

North America region holds the largest market share in the global spinal cord tumor market

In 2021, North America accounted for the highest revenue share. The high prevalence of spinal Cord tumors, advancement in the diagnosis of the tumors, well-established clinical facilities, progress in the treatment of tumors, clinical trials conducted for the treatment and product launches by the market players in the region are some of the factors the market is expected to boost in the forecast period. For instance, According to the National Institute of Neurological Disorders and Stroke, central nervous system tumors (those in the brain or spinal cord) affect 359,000 people in the US. Between 85 and 90% of those occur in the brain, says the American Association of Neurological Surgeons (AANS).

That means the other 10 to 15% of cases involve spinal tumors—affecting 35,900 to 53,850 people. Those masses are found in the vertebrae, spinal cord, spinal nerve roots, or dura matter—the spinal cord's outer membrane. In contrast, The American Cancer Society estimates that brain and spinal cord tumors in the United States for 2022 include adults and children. About 25,050 malignant brain or spinal cord (14,170 in males and 10,880 in females) will be diagnosed. These numbers would be much higher if benign (non-cancer) tumors were included. About 18,280 people (10,710 males and 7,570 females) will die from the brain and spinal cord tumors. Additionally, the Aurora Spine Corporation's SOLO ALIF Stand-Alone Cage system, which will be available in November 2020, is a stand-alone device implanted through a single incision, resulting in reduced patient trauma and a shorter operation time. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.

Competitive Landscape

Major key players in the spinal cord tumor market are Pfizer Inc., Bristol-Myers Squibb Company, Baxter, Teva Pharmaceuticals USA, Inc., Horizon Pharma USA, Inc., Jubilant Cadista Pharmaceuticals Inc., Purdue Pharma L.P., Eli Lilly and Company, Novartis.

Pfizer Inc.:

Overview:

Pfizer Inc. is an American multinational pharmaceutical company that offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. It has a portfolio of over 150 products across 15 therapeutic areas. The company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology.

­Product Portfolio:

Carboplatin: Carboplatin chemotherapy in a pre-term infant with neuroblastoma-associated spinal cord compression.

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