Transverse myelitis market is expected to grow USD 250 Million at a CAGR of 6.60%during the forecast period 2023 to 2030.
Transverse myelitis is a neurological disorder caused due to the inflammation across both sides of one segment of the spinal cord. This disorder can occur in any age and sex, but female patients are at higher risk of having transverse myelitis. The causes of transverse myelitis include infections, immune system disorders, and other disorders that may damage or destroy myelin, the fatty white insulating substance covering the nerve cell fibers. The increasing prevalence of transverse myelitis (TM), growing prevalence of diseases which can lead to transverse myelitis such as viral infections and some types of cancers, rising in research and development activities, and increasing expenditure on healthcare sector by the government in developed as well as developing countries is anticipated to propel the global transverse myelitis market. According to the National Institute of Neurological Disorders and Stroke, it is estimated that about 1,400 new cases of transverse myelitis (TM) are diagnosed each year in the US.
However, high cost associated with the diagnosis and treatment of transverse myelitis can hamper the growth of the market over the assessment period.
Key Players
Medtronic, Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International, Inc., Amgen Inc., Johnson & Johnson Consumer Inc., Bayer AG, Pfizer, Inc., Cerus Corporation, Haemonetics Corporation, GlaxoSmithKline, and Bristol-Myers-Squibb are some prominent players operating in the market.
Regional Analysis
The market in the Americas is expected to dominate the global transverse myelitis market during the forecast period owing to the presence of a well-established healthcare system, increasing healthcare expenditure, and the growing prevalence of transverse myelitis.
The European market is expected to be the second-largest due to government funding and support of the healthcare sector coupled with the rising prevalence of transverse myelitis. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to a rising number of rare diseases and continuously developing healthcare infrastructure. Additionally, increased funding in the research activities by pharmaceutical & biotechnology companies is also fueling the growth in the Asia-Pacific region. The market in the Middle East & Africa is likely to account for the smallest share of the global cell transverse myelitis market.
Segmentation
The global transverse myelitis market has been segmented into diagnosis, treatment, end user, and region.
The global market, by diagnosis, has been segmented into magnetic resonance imaging (MRI), lumbar puncture, blood tests, and others.
The global market, on the basis of treatment, has been segmented into intravenous steroids, plasma exchange therapy, antiviral medication, pain medications, physical therapy, occupational therapy, psychotherapy, and others. The pain medication has been further segmented into chronic pain medication and nerve pain medication. The chronic pain segment has been further segmented into acetaminophen, ibuprofen, and naproxen sodium. The nerve pain medication has been segmented into sertraline, gabapentin, and pregabalin.
On the basis of end user, the global market has been segmented into hospitals & clinics, diagnostic centers, and others.
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