According to Emergen Research, the global Nerve Repair And Regeneration Market size was USD 6.05 billion in 2019 and is expected to reach USD 11.62 Billion in 2027 and register a revenue CAGR of 9.0% during the forecast period, 2020-2027.
Nerve cell regeneration is the repair or replacement of injured nerve cells. Axons of the peripheral nervous system (PNS) can regenerate in humans. The ability of the human brain to communicate with organs and muscles can be harmed by a nerve injury. Peripheral neuropathy is the result of damage to the peripheral nerves. Therefore, it’s essential to get medical attention as soon as possible if an individual suffers from a peripheral nerve injury. Early detection and treatment help to avoid complications and long-term damage. Increasing incidence of neurological disorders (NDs) due to unhealthy lifestyles, growing geriatric population, and rising popularity of regular health checkups are major factors expected to drive market revenue growth during the forecast period.
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Major Companies in the Market Include:
- Abbott Laboratories
- Medtronic
- Boston Scientific Corporation
- BAXTER INTERNATIONAL, INC.
- LIVANOVA, PLC.
- AXOGEN, INC.
- Stryker Corporation
- Cyberonics, Inc.
- INTEGRA LIFESCIENCES
- SOTERIX MEDICAL, INC.
- Others
In addition, increasing investments in the development of technologically advanced peripheral nerve regeneration and repair devices, and other efficient related treatment options, favorable regulations on cell-based research activities and growing occurrences of peripheral nerve injuries are some other factors expected to positively impact revenue growth of the market over the forecast period. However, high cost of healthcare expenditure, stringent government regulations and complications and requirement of large scale investments in cell and nerve research activities are some factors expected to restrain market revenue growth over the forecast period.
Neurostimulation and Neuromodulation Devices Segment Revenue to Expand at a Rapid CAGR:
Neurostimulation and neuromodulation devices segment is expected to register a rapid revenue CAGR over the forecast period due to increasing shift from pharmaceuticals to medical devices, upsurge in chronic diseases, and growing cases of neurologic and psychiatric disorders. The current technological advancements in neurotechnologies has led to rapid increase in the use of neurostimulation devices.
Stem Cell Therapy to Register Significant Revenue Growth:
Stem cell therapy segment is expected to register significant revenue growth over the forecast period owing to favorable government policies and increasing private investments in stem cell research activities, rising brain and spinal cord injuries, growing demand for gene & cell therapies, and increasing demand for Induced pluripotent stem cells (iPSCs) as an alternative to embryonic stem cells (ESCs).
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North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to increasing incidence of neurological disorders, favorable reimbursement policies, and well established healthcare infrastructure. In addition, rapidly rising geriatric population, launch of advanced nerve repair products, and increasing funding for clinical trials are some other factors expected to contribute to market growth in the region.
The report further discusses in detail the market segmentation based on types and applications.
Product Outlook (Revenue, USD Billion; 2017-2027)
-
- Neurostimulation and Neuromodulation Devices (Sacral Nerve, Spinal Cord, Vagus Nerve, Gastric Electric, and Deep Brain Stimulation Devices)
- Biomaterial
Surgery Outlook (Revenue, USD Billion; 2017-2027)
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- Stem Cell Therapy
- Direct Nerve Repair
- Nerve Grafting
- Neurostimulation and Neuromodulation Surgeries
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Major Geographies Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Major benefits of the Nerve Repair and Regeneration report:
- The report discusses in detail the changing dynamics of the competitive landscape
- The report provides detail-oriented futuristic prospects of factors driving the growth of the market and limitations affecting the market growth
- The report gives a comprehensive analysis of the changing dynamics of the market owing to the current scenario
- The report encompasses a detailed forecast for the years 2020-2027
- The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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The post Nerve Repair and Regeneration Market Emergen Size Worth USD 11.62 Billion by 2027 | Abbott Laboratories, Medtronic, Plc, Boston Scientific Corporation, etc appeared first on Market O Graphics.
