The Market For Global Nerve Regeneration and Repair Market Is Expected To Grow At CAGR 11.7% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Nerve Regeneration and Repair Market is projected to reach 18.2 billion by 2024, from USD 7.5 billion in 2016 growing at a CAGR of 11.7% during the forecast period of 2017 to 2024”.
The market is segmented By Type (Biomaterials (Nerve Conduits, Nerve Protectors, Nerve Wraps, Nerve Connectors), Neurostimalation (Internal (SCS, DBS, VNS, SNS, GES), External (TENS, TMS, RES))), By Indication (Failed Back Surgery Syndrome, Parkinson’s disease, Urinary Incontinence, Epilepsy, Gastroparesis, Nerve Repair (Epineural, Perineural, Group Fascicular Repair), Grafting (Autograft, Allograft, Xenograft)), By End-User (Hospitals, Neurology Clinics, Home Healthcare, Community Healthcare), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America, Rest of the World) – Trends and Forecast to 2024
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Nerve Regeneration and Repair Market: Recent Developments
Incidence of neurological injuries is very high, nerve regeneration and repair, a subfield of neural tissue engineering, is becoming a rapidly growing field in the discovery of new ways to recover nerve functionality after injury. Majority of the injuries take place due to accidents such as sporting accidents, car accidents and major falls. Every year 90,000 people are affected because of Nervous System injuries and Spinal cord injuries alone affect 10,000. 20 million Americans suffer from peripheral nerve injury caused by trauma and medical disorders. To provide better therapy outcomes and improve the treatment, manufacturers are collaborating with the upcoming technologies and innovative devices. Silicone tubes, biological tubes, Synthetic tubes are used to enhance the nerve regeneration. Market is witnessing a rapid growth due to increasing geriatric population, increasing incidence of nerve injuries and neurological disorders, favourable reimbursement policies, and increased government funding.
The demand for nerve repair biomaterials is increasing in the hospitals followed by ambulatory trauma centres due to increasing aging population and rising number of nerve injuries and nerve surgeries. Due to the technological advancements.
Unlike any other tissues in the body, peripheral nerve regeneration is slow and usually incomplete. Nerve injury has a potentially devastating impact on a patient’s quality of life, resulting in severe disability with substantial social and personal cost. Lack of awareness about the technology, innovative devices is one of the major restraints in the nerve regeneration and repair market. Lack of professionals in the hospitals is also the major reasons and hence the success of regeneration is variable and never complete. Poor outcomes result is driving the market growth many a times. Absence of efficient and skilled professionals and lack of awareness among patients as well as local physicians are some of the restraints for advance nerve regeneration and repair market.
Global Nerve Regeneration and Repair Market: Segmentation
The nerve regeneration and repair market is segmented into based on product type, indication, end-user and geography.
Based on product types the market is segmented into 2 type’s biomaterial and neurostimulation segments. The neurostimulation segment dominates the market and is further classified into internal and external neurostimulation devices. Internal neurostimulation devices is further segmented into spinal cord stimulator (SCS), deep brain stimulator (DBS), vagus nerve stimulator (VNS), sacral nerve stimulator (SNS) and gastric nerve stimulator (GNS).
Based on indications into failed back surgery syndrome, conditional regional pain syndrome, eschemia, Parkinson’s disease, Alzheimer’s, urinary incontinence, faecal incontinenece, epilepsy, gastroparesis, nerve repair, nerve grafting and others. Nerve repair segment is further segmented
Based on repair type into epineural repair, perineural repair and group fascicular repair. Nerve grafting segment is also further segmented based on graft types into autograft, allograft and xenograft.
Global Nerve Regeneration and Repair Market: Geographic Segmentation
The nerve regeneration and repair market is segmented into 6 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S., Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America is the largest market while Asia-Pacific is the fastest growing market due to the large incidence of epineural nerve injuries and Parkinson disease in the Asian countries like China.
The high market share of North America is owing to increased population with insurance coverage after the launch of Obama Care and Patient Protection & Affordable Care Act (PPACA). The number of elderly insured people in U.S. is expected to reach 30 million and above by 2022. This is expected to drive the growth of this market in the forecast period.
Global Nerve Regeneration and Repair Market: Company Share Analysis
The Global nerve regeneration and repair market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.
Some of the major players operating in this market are AxoGen, Inc., Boston Scientific Corporation, Alafair Biosciences, BioControl Medical, Medtronic, AxoGen Inc., Boston Scientific Corporation, Baxter International, Checkpoint Surgical Inc., St. Jude Medical, Inc., Integra Lifesciences Corporation, Nevro Corporation, Orthomed S.A.S., Collagen Matrix, Inc., Cyberonics, Inc. Polyganics B.V. and Stryker Corporation among other companies.
Other Market Insights:
Global Sports Medicine Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 8.9% in the forecast period 2017 to 2024, expected to reach USD 34.7 Billion by 2024.
Global Nerve Repair Biomaterials Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 11.3 in the forecast period 2017 to 2024, expected to reach USD 11.3 Billion by 2024.
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