Nerve regeneration is the procedure including the replacement of damaged tissue cells, nervous tissue and neurons. Regeneration of the nervous system requires either repair or substitution of nerve cells that are harmed or damaged by infection. Owing to the increasing popularity of nerve regeneration methods, neurological diseases like Alzheimer’s, Parkinson are treated more effectively.
Increasing geriatric population and the advantages of regenerative surgeries have easy surgical methods as compared to painful classical surgical methods which will boost the growth of the market. The elderly people are more inclined to suffer from chronic and neurological disorders, such as Alzheimer’s, Parkinson as compared to adults, driving the growth of the market positively. Peripheral nerves are connected to the brain and spinal cord and other parts of the body. These nerves are fragile and easily damaged, and therefore can affect the brain’s ability to communicate with muscle and organs. The nerve regeneration market also includes biomaterials like neuro-stimulation and neuromodulator devices. These are major driving factors which increase the growth of the market. On the other hand, lack of awareness among patients about nerve regeneration techniques may limit the growth of the market. However, the high cost of the treatment and lack of awareness among the people regarding nerve damage may slower the growth of the market.
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According to the Centers for Disease Control and Prevention, 2014, 5.3 million Americans were detected with Alzheimer’s disease and it is estimated to grow to its double count by 2050 as a result of the rising aging population
The global nerve regeneration market is expected to grow at a CAGR of 11.3% during forecasted period 2017-2023.
- Research and Development (R&D) Companies
- Government and Independent Research Laboratories
- Government and Independent Regulatory Authorities
- Academic Medical Institutes and Universities
- Pharmaceutical Industries
The global nerve regeneration market is segmented on the basis of product, by application, and by method.
On the basis of product, it is segmented into biomaterials, nerve conduits, nerve protectors, and others. Biomaterials can be further segmented into neuro-stimulation and neuromodulator devices and others
On the basis of application, it is segmented into surgery, prognosis, autologous nerve grafting, and others.
On the basis of method, it is segmented into stem cell therapy, direct nerve repair, nerve grafting, and others.
The Americas command the largest market due to the notable increasing incidence of nerve injuries and encouraging research and development in healthcare. Americas dominate the global nerve regeneration market owing to well-developed technology, high healthcare spending, increasing adding population, and rising stress. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.
Europe holds the second position followed by Asia Pacific in the global acquired nerve regeneration market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period.
Asia Pacific is the fastest growing nerve regeneration market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in the prevalence of nerve injuries or disorder related to a nerve. Increasing demand for biomaterials for nerve regeneration boosted the growth of the market. Moreover, increasing demand for new treatment methods in countries like India and China are likely to emerge as the fastest growing market across the globe.
On the other hand, in the Middle East and Africa has the lowest market for nerve regeneration due to lack of technical knowledge and poor medical facilities.
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Some of key the players in the market are AxoGen Inc. (U.S.), Xcelthera, INC. (U.S), Orthomed S.A.S. (France), Baxter International Inc (U.S.), Boston Scientific Corporation (U.S.), Integra Life Sciences Corporation (U.S.), Cyberonics Inc. (U.S.), Medtronic (U.S.), Polyganics (the Netherlands), Stryker Corporation (U.S.),.St. Jude Medical (U.S.), Neurotex Limited (U.K).
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