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Global Nerve Regeneration Market Research Report: Information by Product, (Neurostimulation & Neuromodulation Devices and Biomaterials), by Application, (Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Nerve Grafting, Stem Cell Therapy and others), by End User (Hospitals & Clinics, Ambulatory Surgery Centers and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2024
Rising neurological disorders, increasing geriatric population susceptible to neurological diseases, and technological improvements in the field of nerve regeneration are supposed to enhance the market growth. However, high cost and stringent regulatory framework are projected to restrain the market growth during the forecast period. Nerve regeneration products are used to restore damaged nerves to their normal function, and this procedure is mostly used to treat peripheral nerve injuries. In June 2018, NeuroPace launched a Next Generation RNS System, the world’s only brain-computer interface for the treatment of refractory epilepsy. Nerve injuries are ordinary in the upper (hand and arm) and lower (leg) extremities. Nerve damage can be caused either due to blunt trauma (such as an impact from a fall or from traction injuries from motor vehicle accidents) or sharp trauma (such as from a direct cut from a knife). Surgical nerve repair involves the exploration of the injured nerve and removal of injured tissue from the nerve endings. The Global Nerve Regeneration Market is expected to enroll a CAGR of 11.34% to reach USD 12695.25 million by 2024. The most pressing question in building nerve conduits includes the development of tissue-contrived nerve implants that surpass the execution of autografts; the primary question involved is the sizeable gap between the ends of the nerve. The focus markets are from Pharmaceutical manufacturers, Healthcare providers, Research institutes and academic centers, Government associations, Market research and consulting. This market is witnessing a high growth due to factors such as rising neurological disorders, increasing geriatric populace susceptible to nerve-related diseases, and technological advancements. Moreover, the high cost of products and stringent regulatory framework are expected to hinder the market growth
The Global nerve regeneration market has been segmented into product, application, end user and region. The rising neurological disorders have essentially driven the global nerve regeneration market. For instance, as per the statistics of World Health Organizations (WHO) in 2017, around 50 million people all over the world were affected by epilepsy. Various other factors, such as increasing geriatric population affected by neurological disorders and technological advancements, are also propelling the growth of the market. Neurostimulation and neuromodulation machines held a share of 4,764.96 USD million in 2018. It is estimated that around 250,000 peripheral nerve damages occur yearly in the US alone, which accounts for roughly 42- 43% of the global peripheral nerve injuries. Corresponding to a recent study, around 86-87% of peripheral nerve injuries are caused due to trauma, while the rest are caused due to tumor- and non-tumor-related surgical procedures. Surgical deception or transection during tissue removal can also cause nerve damage. Internal neurostimulation devices has been further bifurcated into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve encouragement, and gastric electrical stimulation. External neurostimulation devices has been further than segmented into transcutaneous electrical nerve stimulation, transcranial magnetic stimulation. Biomaterials has also been categorized as nerve conduits, nerve protectors, nerve wraps, and nerve connectors. Based on application, the market has been categorized as neurostimulation and neuromodulation surgeries, direct nerve repair/neurorrhaphy, nerve grafting, stem cell therapy, and others. Neurostimulation and neuromodulation surgeries have been bifurcated into internal neurostimulation and neuromodulation surgeries, external neurostimulation as well as neuromodulation surgeries. Nerve grafting has been further classified as autografts, allografts, and xenografts. Based on end user, the market has been separated into end user, hospices & clinics, ambulatory surgery centers, and others. Based on product, the market has been segregated into neurostimulation & neuromodulation devices and biomaterials. Based on neurostimulation and neuromodulation tools, the market has been split up into internal neurostimulation devices and external neurostimulation mechanisms.
Geographically, the Global nerve regeneration market is split in regions like North & Latin America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. Europe nerve regeneration market showed considerable growth in the market due to an increase in the healthcare spending by these nations, wide adoption of nerve regeneration methods due to their efficacy to reduce pain and increasing cases of cancer. For the therapy of neurological disorders, the fondness for drug therapies is elevated among patients. This is because there is limited understanding among patients about the accessibility of alternative surgical treatments that make use of nerve repair and rejuvenation devices. Furthermore, surgeons in several countries have limited understanding about the various biomaterials. Asia-Pacific is estimated to be the fastest-growing region in the global nerve regeneration market due to the increasing awareness of neurological disorders and their risk factors and rising incidence of osteoporosis, cancer, and neurological disorders. Japan held a market share of around 25.78% in the Asia-Pacific nerve regeneration market in 2018. The global nerve regeneration market, based on region, has been for four regions, namely the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the largest market share in 2018 owing to the attendance of key market players; strategic attainments by major players for ornamental product portfolio; cumulative cases of chronic pain, obesity, and compulsion; and obtainability of technically advanced devices for the analysis and treatment of nerve illnesses.
The proposed spectators in the Global nerve regeneration market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global nerve regeneration market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global nerve regeneration market are companies like Integra LifeSciences, Boston Scientific Corporation, LivaNova PLC, Axogen Corporation, Stryker Corporation, Nuvectra Corporation, NeuroPace, Polyganics, Medtronic an Abbott.
Market analysis
Rising neurological disorders, increasing geriatric population susceptible to neurological diseases, and technological improvements in the field of nerve regeneration are supposed to enhance the market growth. However, high cost and stringent regulatory framework are projected to restrain the market growth during the forecast period. Nerve regeneration products are used to restore damaged nerves to their normal function, and this procedure is mostly used to treat peripheral nerve injuries. In June 2018, NeuroPace launched a Next Generation RNS System, the world’s only brain-computer interface for the treatment of refractory epilepsy. Nerve injuries are ordinary in the upper (hand and arm) and lower (leg) extremities. Nerve damage can be caused either due to blunt trauma (such as an impact from a fall or from traction injuries from motor vehicle accidents) or sharp trauma (such as from a direct cut from a knife). Surgical nerve repair involves the exploration of the injured nerve and removal of injured tissue from the nerve endings. The Global Nerve Regeneration Market is expected to enroll a CAGR of 11.34% to reach USD 12695.25 million by 2024. The most pressing question in building nerve conduits includes the development of tissue-contrived nerve implants that surpass the execution of autografts; the primary question involved is the sizeable gap between the ends of the nerve. The focus markets are from Pharmaceutical manufacturers, Healthcare providers, Research institutes and academic centers, Government associations, Market research and consulting. This market is witnessing a high growth due to factors such as rising neurological disorders, increasing geriatric populace susceptible to nerve-related diseases, and technological advancements. Moreover, the high cost of products and stringent regulatory framework are expected to hinder the market growth
Market segmentation
The Global nerve regeneration market has been segmented into product, application, end user and region. The rising neurological disorders have essentially driven the global nerve regeneration market. For instance, as per the statistics of World Health Organizations (WHO) in 2017, around 50 million people all over the world were affected by epilepsy. Various other factors, such as increasing geriatric population affected by neurological disorders and technological advancements, are also propelling the growth of the market. Neurostimulation and neuromodulation machines held a share of 4,764.96 USD million in 2018. It is estimated that around 250,000 peripheral nerve damages occur yearly in the US alone, which accounts for roughly 42- 43% of the global peripheral nerve injuries. Corresponding to a recent study, around 86-87% of peripheral nerve injuries are caused due to trauma, while the rest are caused due to tumor- and non-tumor-related surgical procedures. Surgical deception or transection during tissue removal can also cause nerve damage. Internal neurostimulation devices has been further bifurcated into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve encouragement, and gastric electrical stimulation. External neurostimulation devices has been further than segmented into transcutaneous electrical nerve stimulation, transcranial magnetic stimulation. Biomaterials has also been categorized as nerve conduits, nerve protectors, nerve wraps, and nerve connectors. Based on application, the market has been categorized as neurostimulation and neuromodulation surgeries, direct nerve repair/neurorrhaphy, nerve grafting, stem cell therapy, and others. Neurostimulation and neuromodulation surgeries have been bifurcated into internal neurostimulation and neuromodulation surgeries, external neurostimulation as well as neuromodulation surgeries. Nerve grafting has been further classified as autografts, allografts, and xenografts. Based on end user, the market has been separated into end user, hospices & clinics, ambulatory surgery centers, and others. Based on product, the market has been segregated into neurostimulation & neuromodulation devices and biomaterials. Based on neurostimulation and neuromodulation tools, the market has been split up into internal neurostimulation devices and external neurostimulation mechanisms.
Regional analysis
Geographically, the Global nerve regeneration market is split in regions like North & Latin America, Europe, Asia-Pacific, Middle east and Africa and Rest of the world. Europe nerve regeneration market showed considerable growth in the market due to an increase in the healthcare spending by these nations, wide adoption of nerve regeneration methods due to their efficacy to reduce pain and increasing cases of cancer. For the therapy of neurological disorders, the fondness for drug therapies is elevated among patients. This is because there is limited understanding among patients about the accessibility of alternative surgical treatments that make use of nerve repair and rejuvenation devices. Furthermore, surgeons in several countries have limited understanding about the various biomaterials. Asia-Pacific is estimated to be the fastest-growing region in the global nerve regeneration market due to the increasing awareness of neurological disorders and their risk factors and rising incidence of osteoporosis, cancer, and neurological disorders. Japan held a market share of around 25.78% in the Asia-Pacific nerve regeneration market in 2018. The global nerve regeneration market, based on region, has been for four regions, namely the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the largest market share in 2018 owing to the attendance of key market players; strategic attainments by major players for ornamental product portfolio; cumulative cases of chronic pain, obesity, and compulsion; and obtainability of technically advanced devices for the analysis and treatment of nerve illnesses.
Major players
The proposed spectators in the Global nerve regeneration market are manufacturers, Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global nerve regeneration market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global nerve regeneration market are companies like Integra LifeSciences, Boston Scientific Corporation, LivaNova PLC, Axogen Corporation, Stryker Corporation, Nuvectra Corporation, NeuroPace, Polyganics, Medtronic an Abbott.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
