Nerve Repair and Regeneration Market – Overview
Market Research Future (MRFR) in their latest report on the Nerve Repair and Regeneration market claimed the market could achieve 11.3% CAGR during the forecast period (2017-2023). The market can quite easily cross the expected market valuation by the end of 2023.
Nerve Repair and Regeneration is all about the repairing or regenerating nerve tissues, cells, and cell products. The process may include the generation of new axons, glia, neurons, myelin, or synapses. The nervous system can be segmented by the central nervous system and peripheral nervous system, which get controlled by the brain and spinal cord.
The peripheral nervous system can too some extent mend the loss, but the central nervous system is incapable of doing that. Peripheral nerves are fragile and can get damaged easily. But it can be repaired with biomaterials like neuro-stimulation and neuromodulator devices.
The latest developments in Nerve Repair and Regeneration market can provide substantial market traction in the coming years. Research and development in the sector are proving valuable as companies are investing substantially for better innovation. But the Nerve Repair and Regeneration market can get halted owing to the lack of knowledge regarding procedures and the high cost associated with it.
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Prominent players profiled in the MRFR report on the Nerve Repair and Regeneration market are Xcelthera, INC. (U.S.), AxoGen Inc. (U.S.), Orthomed S.A.S. (France), Stryker Corporation (U.S.), Boston Scientific Corporation (U.S.), Cyberonics Inc. (U.S.), Baxter International Inc (U.S.), Integra Life Sciences Corporation (U.S.), Medtronic (U.S.), Polyganics (the Netherlands), Neurotex Limited (U.K), St. Jude Medical (U.S.), and others.
In 2018, researchers from the University of Saskatchewan were planning to use 3D bio-printed scaffolds to help in the regeneration of the peripheral nervous system. The solution is based on the idea of amalgamating engineering and biomedicine that can help the nerve cells grow. The process involves scaffolds made out of hydrogel.
Nerve Repair and Regeneration Market – Segmentation
MRFR segments the global Nerve Repair and Regeneration market by product, application, and method to properly understand the market dynamics during the forecast period.
Based on the product, the Nerve Repair and Regeneration market can be segmented into biomaterials, nerve conduits, nerve protectors, and others. The biomaterials segment includes neuro-stimulation and neuromodulator devices and others. Technological advancement can ensure the growth of the biomaterials segment during the forecast period.
Application-wise, the Nerve Repair and Regeneration market can be segmented into surgery, prognosis, autologous nerve grafting, and others. Surgery segment can expect substantial rise over the review period.
Based on the method, the Nerve Repair and Regeneration market comprises stem cell therapy, direct nerve repair, nerve grafting, and others. Stem cell therapy is enjoying substantial exposure in the market.
Detailed Regional Analysis
MRFR segments the global Nerve Repair and Regeneration market on the basis of regions into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas has the maximum market share. The region has a superior infrastructure in both the healthcare and research & development sector. The region is also enjoying substantial traction due to the reimbursement policies that are helping patients to avail such treatments. Major companies are also based in this region who are investing considerably in developing new products that can promise much prospect for the regional market in the coming years.
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Europe is witnessing substantial spending from governments for research and development. Innovations are building paths for market growth. The regional gain is quite high as major countries from the region share similar infrastructure like that of North America.
The APAC is expected to evolve as the fastest growing market during the forecast period. The region is experiencing substantial technological growth which is getting amply backed by the massive population and increasing healthcare expenditure. Countries such as India and China are showing unprecedented growth and are fanning demand for biomaterials which is triggering the market for considerable growth during the forecast period.
On the flip side, the MEA market can only show moderate growth due to the lack of Nerve Repair and Regeneration knowledge and poor medical facilities in most of the region.
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