The global nerve regeneration market is expected to exhibit a strong 11.3% CAGR over the forecast period from 2017 to 2023, according to the latest market research report from Market Research Future (MRFR). The global nerve regeneration market is driven by the progressive advances in the field of neuroscience, which has allowed for the development of modern methods to treat nerve damage in an effective manner. The global nerve regeneration market is studied in detail in the report to provide a clear picture of the manner of the market’s progress through the forecast period.
The growing geriatric population is likely to be a major driver for the global nerve regeneration market over the forecast period, as geriatric people are more likely to suffer from neurodegenerative diseases such as Alzheimer’s and Parkinson’s. The growing awareness about the potential of nerve regeneration procedures in treating these diseases is likely to be a major driver for the global nerve regeneration market over the forecast period, as nerve regeneration can directly replace or repair the nerves responsible for the respective diseases, treating the disease at the root cause. On the other hand, the high costs of nerve regeneration procedures and lack of awareness among the patient population about its efficacy and benefits are likely to be the major restraints on the global nerve regeneration market over the forecast period.
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Leading players in the global nerve regeneration market include
- AxoGen Inc.
- Orthomed S.A.S.
- Boston Scientific Corporation
- Cyberonics Inc.
- Jude Medica
- Neurotex Limited
- Stryker Corporation
In October 2018, researchers at the Washington University School of Medicine and Northwestern University came up with an implantable electronic device that can be placed close to the site of nerve damage and used to deliver regular electrical impulses to the site of nerve damage. The device was successfully tested on rats and showed clear benefits in healing peripheral nerve damage in rats.
- The global nerve regeneration market is segmented on the basis of product, application, method, and region.
- On the basis of product, the global nerve regeneration market 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, the nerve regeneration market is segmented into surgery, prognosis, autologous nerve grafting, and others.
- On the basis of method, the market is segmented into stem cell therapy, direct nerve repair, nerve grafting, and others.
The global nerve regeneration market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas holds the largest share in the global nerve regeneration market due to the strong medical research sector in the U.S. and Canada. The high healthcare spending in the region is also likely to be a major driver for the nerve regeneration market in the region over the forecast period. The growing geriatric population in the Americas and Europe is also likely to be a major driver for the nerve regeneration market over the forecast period. Europe is likely to remain the second largest regional market for nerve regeneration over the forecast period, followed by Asia Pacific.
Table Of Content
- Report Prologue
- Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
To be Continued…!
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