In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
In November 2021, researchers in the Northwestern University developed a new injectable therapy that harnesses ‘dancing molecules’ for reversing paralysis and repairing tissues after severe spinal cord injuries.
The therapy works by sending bioactive signals to trigger cells, and is aimed for patients with spinal cord injuries who have very few treatment options.
Ans: The major factors driving market growth are increasing number of cases of spinal cord injuries, and growing number of road accidents occurring every year.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022-2031.
Ans: The major players in the market are Sanofi SA, AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Bristol Myers Squibb Company, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by treatment type, route of administration, distribution channel, and by region.
Ans: The oral segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: High cost of quadriplegia treatment is estimated to hamper the market growth.
Ans: North America will provide more business opportunities for market growth owing to the presence of sophisticated technologies for treating quadriplegia, and high annual medical cost for treating acute spinal cord injuries.
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