Nerve Regeneration Market by Size, Overview, Opportunities, Global Industry Analysis
Market Highlights
Neuro or nerve regeneration is repair or regeneration of nervous tissues or cells. These mechanisms include regeneration new neurons, and of its various components including glia, axon, myelin or synapses. Many chronic diseases and nerve injuries require treatment by regeneration of cells which is major factor for driving the growth of the market. Increasing prevalence of diseases, increasing awareness regarding treatment techniques will also increase the growth of the market. Disorders like Alzheimer's disease and traumatic injuries need regeneration of cells and it can be treated more effectively by regenerative method which will also boost the growth of the market.
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The global Nerve Regeneration market is expected to grow at a CAGR of 11.3% during forecasted period 2017-2023.
Key Players
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).
Boston Scientific Corporation is world’s top medical device developer and provides more accessible low cost and less invasive options to patients and headquartered in Marlborough, U.S. It is one the top leader in neurological surgery product. In 2016, it was awarded by medical design excellence award and was nominated in top 100 global innovators.
Segmentation
Global nerve regeneration is segmented on the basis of product, by application and by methods. On the basis of product, it is segmented into Biomaterials, Nerve Conduits, Nerve Protectors, 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, others. On the basis of methods, it is segmented into stem cell therapy, direct nerve repair, nerve grafting, others.
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Regional Analysis
Geographically, global nerve regeneration market is segmented into America, Europe, Asia Pacific and Middle East & Africa.
The Americas commands the largest market due to the presence of a well-developed healthcare sector and large patient populations. 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 in the global acquired nerve regeneration market owing to the government support for research & development and availability of funds for research.
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 prevalence of nerve injuries or disorder related to nerve. 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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