Nerve Repair And Regeneration Market Is Anticipated To Reach $15.7 Billion By 2024: Grand View Research, Inc.
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 exhibit an upsurge over the forecast period owing to the rising
awareness, the increasing incidence rate, the favorable government funding and
reimbursement policies, and the continual technological advances offered by the
key players of the industry. According to the American Physiological Society,
approximately 12,000 spinal Cord Injuries (SCI) are recorded every year in the
U.S. The majority of these injuries take place due to sporting accidents,
gunshot wounds, car accidents, and falls.
In January 2016, The EU Horizon
2020 program funded a research project ‘AUTOSTEM’ launched by the NUI Galway’s
Regenerative Medicine Institute (REMEDI) amounting toUSD 6.73 million. This
project is to develop a robotic stem cell production factory, involved in fully
automated manufacturing of stem cells in large volumes; thus, having an edge
over the old traditional techniques. Also, this technique will treat a range of
therapies pertaining tocancer,arthritis, diabetes and other complications.
Browse full research report on Nerve
Repair And Regeneration Market: http://www.grandviewresearch.com/industry-analysis/nerve-repair-regeneration-market
Further key findings from the
report suggest:
- The
neurostimulation and neuromodulation segment dominated the product segment
of the market due to the increasing awareness about the devices coupled
with the surgingnumber of central nervous system disorders in the
population
- 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. The
rise in number of cases withinjuries in the Central Nervous System (CNS),
including injuries to the spinal cord and the brain,and increase in the
governmentinitiatives and funding,as well as funding fromvarious other
agencies were some of the major reasons responsible for the growth.
- According
to the report published by the Florida University, annually,more than 2
million people sufferfromtraumatic injuries of the brain in the US and a
minimum of 10,000 people suffered with spinal cord injuries.The CNS
injuries are a consequence of incompletely elucidated biochemical pathological
phenomenon. This lack of complete understanding in the field drives the
urgency for ramping up R&D efforts to develop novel neurotherapeutic
approaches.
- In
March 2016, Baxter International, Inc. 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 in dural defect
repair, for treatingtraumatic injuries of the brain, CNS, andas a surgical
sealant to contain leakage of bodily fluids in otherbody parts, oras a
hemostatic device to prevent the loss of blood.
- APAC
is expected to be the fastest growing region of the nerve repair and
regeneration market. Aging population, technological advancements, and
unmet medical needs in this region are some of the reasons for the growth
of the market
- In
February 2016, Indian scientists working for Revita Life Sciences and
Bioquark, Inc. gained permission to conduct clinical trials in 20
clinically dead patients to bring specific parts of their central nervous
system back to life. Combination of therapies are to be applied including
injecting the brain with stem cells, cocktail of peptides, use of lasers
and nerve stimulation techniquesthat have been proven successful in
reviving comatose patients.A blend of regenerative medicine tools and
treatment devices are to be employed to achieve success with such a
complex undertaking.
- Manufacturers
are collaboratingwith the aim of combining the use of innovative devices
and therapies to improve treatment efficiency and provide better therapy
outcomes
- In
November 2012, UCB (Euronext Brussels) and NewBridge Pharmaceuticals
entered into an agreement to engage in geographical expansion of its core
products (Neupro, Vimpat, and Cimzia)to include majority of the African
and Middle east countries in its distribution channels. On the other hand,
Newbridge Pharmaceuticals is to focus on product commercialization,
gaining regulatory approvals from local bodies, and perform
pharmacovigilance. This agreement is estimated to elevate the uptake of
products related to CNS and immunologic diseases in the Middle-east and
Africa region.
- Some
key players of this market include Polyganics B.V., St. Jude Medical,
Inc., Stryker Corporation, AxoGen, Inc., and others
Browse more reports of this
category by Grand View Research: http://www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented
the global nerve repair and regeneration market on the basis of products,
surgery, and regions:
Nerve Repair and Regeneration
Product Outlook (Revenue, USD Million, 2013 - 2024)
- Biomaterial
- Neurostimulation
and neuromodulation devices
- Spinal
cord stimulation devices
- Deep
brain stimulation devices
- Sacral
nerve stimulation devices
- Vagus
nerve stimulation devices
- Gastric
electric stimulation devices
Nerve Repair and Regeneration
SurgeryOutlook (Revenue, USD Million, 2013 - 2024)
- Direct
nerve repair/neurorrhaphy
- Nerve
grafting
- Stem
cell therapy
- Neurostimulation
and neuromodulation surgeries
Nerve Repair and Regeneration
Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Rest
of Europe
- Asia
Pacific
- Japan
- China
- Rest
of Asia Pacific
- Latin
America
- Brazil
- Mexico
- Rest
of Latin America
- MEA
- South
Africa
- Rest
of MEA
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-nerve-repair-regeneration-market
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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