San Francisco, 21 November 2018, The global nerve repair and regeneration market is expected to reach USD 15.7 billion by 2024,
according to a new report by Grand View Research Inc. The demand for
neurological disorder devices and therapies is expected to upsurge over the
forecast period owing to rising awareness, increasing incidence rate,
government funding & reimbursement policies, and uninterrupted
technological advances by the key players of the industry (nerve control and
regeneration technique is a rapidly growing division of neural tissue
engineering). It has been estimated that more than 0.8 million people were
affected due to nervous system injuries per year.
In
January 2016, The EU Horizon 2020 program funded a research project ‘Autostem’
launched by the NUI Galway’s Regenerative Medicine Institute (REMEDI) costing
about USD 6.73 million. This project was expected to develop a robotic stem
cell production factory, having an edge over the old traditional techniques.
Also, this technique will treat a range of therapies pertaining to cancer,
diabetes, arthritis and other diseases.
Investment
by market players in research & development and commercialization in
emerging countries are the major factors to drive the market growth in coming
years. For instance, in October 2015, Helius Medical signed an agreement with
A&B Company Limited for the development and commercialization of Helius’
Portable Neuromodulation Stimulator in Singapore, Taiwan, Hong Kong, Macao, and
China. Under this agreement, A&B is expected to acquire certain Asian
patents ownership, product support material, and patent applications for the
PoNS device.
Access Full
Research Report On Nerve Repair And Regeneration
Market Analysis:
www.grandviewresearch.com/industry-analysis/nerve-repair-regeneration-market
www.grandviewresearch.com/industry-analysis/nerve-repair-regeneration-market
Further Key Findings From the Study Suggest:
·
Neurostimulation and
neuromodulation devices dominated the product segment of the market in 2015 due
to the rising awareness about the devices, coupled with the increasing central
nervous system disorders in the population.
·
Biomaterials segment is
anticipated to grow at the fastest rate during the forecast period. This can be
attributed to technological advancement, development of biodegradable polymers
which are expected to enhance spinal stabilization, healing of fractures, &
reduce hospitalization, and rising adoption.
·
North America dominated the
market in 2015 owing to the technological advancements in the region and the
introduction of new devices by the manufacturers. In 2015, U.S proved to be the
most potential market. Increasing injuries to the central nervous system (CNS),
including injuries to the spinal cord and the brain, increased cases,
initiatives and funding from governments and various other agencies were some
of the major reasons of growth.
·
According to the report
published by the Florida university, more than 2 million people were suffering
with traumatic injuries of the brain in the US annually and 5,00,000 people
suffered due to the spinal cord injuries. The major causes of CNS injuries
result from poorly understood biochemical pathological events.
·
Also, In March 2016, Baxter
completed the CE marking, the indication for marketing of ‘HEMOPATCH’ the
ready-to-use surgical patch in the European market. This patch was approved for
use during traumatic injuries of the brain, CNS or other body parts that result
in shrinkage of dura mater also, as a hemostatic device to prevent loss of
blood or any other body fluid.
·
Asia Pacific is expected to be
the fastest growing region during the forecast period. An aging population,
technological advancement and presence of unmet medical needs are some of the
reasons for the growth of the market.
·
In February 2016, Indian
scientists working for Revita Life Sciences were approved to conduct clinical trials
in 20 clinically dead patients to bring specific parts of their central nervous
system back to life. Combination of therapies including cocktail of peptides,
nerve stimulation techniques, injecting the brain with stem cells and other
techniques that were successful in bringing patients out of coma were to be
used. Existing medical devices were combined with regenerative biological
medicines with an objective to achieve such a complex initiative.
·
Manufacturers are conducting
collaborative exercises by use of innovative devices and therapies to improve
the efficiency of treatment and provide better results.
·
Some key players in this
industry include Boston Scientific, Inc., Stryker Corporation, St. Jude
Medical, Inc., Medtronic plc., Baxter International, Inc., AxoGen, Inc.,
Polyganics B.V., Integra Lifesciences Corporation, and Cyberonics, Inc.
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Category By Grand View Research At: www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the nerve repair and regeneration market by product, surgery, and
region:
Nerve
Repair and Regeneration Product Mode Outlook (Market revenue in USD Million,
2013 - 2024)
·
Biomaterial
·
Neurostimulation and
neuromodulation devices
o
Spinal cord stimulation devices
o
Deep brain stimulation devices
o
Sacral nerve stimulation
devices
o
Vagus nerve stimulation devices
o
Gastric electric stimulation
devices
Nerve
Repair and Regeneration Surgery Outlook (Revenue, USD Million, 2013 - 2024)
·
Direct nerve
repair/neurorrhaphy
·
Nerve grafting
·
Stem cell therapy
·
Neurostimulation and
neuromodulation surgeries
Nerve
Repair and Regeneration Regional Outlook (Market Revenue in USD Million,
2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
·
Middle East and Africa
o
South Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/bric-breast-pump-market-analysis
www.grandviewresearch.com/press-release/bric-breast-pump-market-analysis
About Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
