Nerve Repair and Regeneration Market to Register Remarkable Growth due to Favorable Reimbursement Policies, Global Industry Report, Size Estimation, Share, Analysis, Top Companies Revenues 2021 – 2026
SEATTLE, April 01, 2021, (PHARMIWEB) — Global Nerve Repair and Regeneration Market – Insights
The nervous system is made of the brain, spinal cord, and peripheral nerves. Parkinson’s disease, Alzheimer’s disease, Amyotrophic lateral sclerosis, multiple system atrophy, and multiple sclerosis are some of the diseases of the nervous system. The repair and regrowth of nervous cells or tissues is called nerve repair and regeneration and includes various mechanisms such as generation of myelin, synapses, new glia, neurons, and axons. The process is divided between the Peripheral Nervous System (PNS) and Central Nervous System (CNS). PNS is characterized by an intrinsic ability of regeneration. However, repair and regeneration does not take place in the CNS. Surgery, xenografts, nerve grafting, and allografts are the clinical treatments of nerve repair and generation. Various types of surgery include stem cell therapy, nerve grafting, and direct neuropathy. In the stem cell therapy, stem cells are used for the treatment of diseases including neuromuscular and degenerative disorders. In nerve grafting, the injured portion of the nerve is repaired using a segment of unrelated nerve as a bridge to join the injured nerve.
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Global Nerve Repair and Regeneration Market: Drivers
High incidence of neurological disorders is a major factor boosting growth of the global for nerve repair and regeneration market over the forecast period. For instance, according to a survey conducted by National Health Interview survey (NHIS) in 2014, an estimated 1.4 million people suffer from nerve injuries and around 900,000 people undergo surgeries for neurological disorders.
Increasing R&D of drugs for nerve repair and regeneration is also expected to fuel growth of the market over the forecast period. For instance, in 2015, Axogen Inc., a U.S.-based company, received an approval from the U.S. Food and Drug Administration (FDA) to proceed with RECON – a prospective, multicenter, randomized study that supported an investigational new drug application to assess the surgical repairs outputs of peripheral nerve disorders. The study is in phase III clinical trial.
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Global Nerve Repair and Regeneration Market: Restraints
Major factors that hinder growth of the global nerve repair and regeneration market include, stringent rules and regulation for approval of new drugs and high cost of nerve repair and regeneration devices and surgeries.
North America to account for the largest share in the global nerve repair and regeneration market
On the basis of region, the global nerve repair and regeneration market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to account for the largest market share in the global nerve repair and regeneration market over the forecast period. This is attributed to increasing M&A activities in the region. For instance, in January 2018, NeuroMetrix merged with GlaxoSmithKline Plc. (GSK) Consumer healthcare for the development of new Quell Wearable pain release technology— a non-invasive device that can be used for the treatment and management of chronic pain associated with nerve repair surgeries. GSK Consumer healthcare acquired ownership of Quell Technology for markets outside U.S.
Increasing product launch is also expected to boost growth of the market in North America. For instance, in 2018, Collagen Matrix – a U.S.-based company – launched OssiMend Spine and Dura Matrix Dural Repair products. OssiMend is a bone graft matrix that can aid in offering scaffold for new bone growth. Dura Matrix offers scaffold to brain and spinal cord.
High incidence of neurological disorders is expected to boost growth of the market in Europe. For instance, according to a study conducted by National Institute of Health (NIH), in 2017, Alzheimer’s disease is reported to be the most common type of dementia, especially in the geriatric population and around 16.51 million people were diagnosed with Alzheimer’s disease in Europe between 2014 and 2016.
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Global Nerve Repair and Regeneration Market: Competitive Landscape
Key players in the market are focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, AxoGen – a U.S.-based company— partnered with LifeNet Health, an allograft bio-implant company – for the processing of advanced nerve grafts. The partnership is expected to enhance the treatment access for patients suffering from peripheral nerve disorders.
Major players operating in the global nerve repair and regeneration market include, Integra Life Sciences, Medtronic, Abbott Laboratories, AxoGen, Boston Scientific, Liva Nova, Stryker, Nevro, Polyganics, Neuvectra, OrthoMed S.A.S, St. Jude Medical, Cyberonics Inc., and others.
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Global Nerve Repair and Regeneration Market Taxonomy:-
The global nerve repair and regeneration market is segmented based on product type, surgery, end user, and region.
By Product Type:-
- External Stimulation Devices
- Transcutaneous external nerve stimulation
- Transcranial Magnetic Stimulation
- Internal stimulation Devices
- Gastric Electrical stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Spinal Cord Stimulation
- Sacral Nerve Stimulation
- Nerve wraps
- Nerve Protectors
- Nerve Grafting
- Auto grafts
- Perineural Repair
- Group Fascicular Repair
- Epineural Repair
- Stem cell therapy
By End User
- Ambulatory Surgery Centers
- North America
- Latin America
- Asia Pacific
- Middle East
Table of Content
Global Nerve Repair and Regeneration Market Research Report
Section 1: Global Nerve Repair and Regeneration Industry Overview
Section 2: Global Economic Impact on Nerve Repair and Regeneration Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Nerve Repair and Regeneration Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Nerve Repair and Regeneration Market Forecast
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