Market Research Future, which creates reports on several industry verticals that appraise the Nerve Repair Market development and prospects is supposed to progress at a CAGR of 11.3% in the forecast period.
Market Synopsis
Nerve regeneration has become a pertinent medical area which is growing at a rapid rate. Nerve regeneration is the procedure including the replacement of damaged tissue cells, nervous tissue and neurons. Regeneration of the nervous system requires either repair or substitution of nerve cells that are harmed or damaged by infection. Owing to the increasing popularity of nerve regeneration methods, neurological diseases like Alzheimer’s, Parkinson are treated more effectively.
Competitive Analysis
The disequilibrium noticed in the forces that are backing the growth of the market is expected to lead to a relatively slow pace of the growth. The global economies are reacting to the market forces by implementing favorable policies and cutbacks so as prevent a slowdown in the progress of the market.
The central contenders in the Nerve Repair Market are,
- Xcelthera INC. (U.S)
- Baxter International Inc (U.S.)
- AxoGen Inc. (U.S.)
- Medtronic (U.S.)
- Jude Medical (U.S.)
- Cyberonics Inc. (U.S.)
- Boston Scientific Corporation (U.S.)
- Orthomed S.A.S. (France)
- Polyganics (the Netherlands)
- Integra Life Sciences Corporation (U.S.)
- Stryker Corporation (U.S.) and Neurotex Limited (U.K).
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The changes in the income levels globally are contributing to the growth of the market. The rise in individual discretionary spending is anticipated to lead to the progress of the market. The enhancement of the distribution channels is projected to motivate market growth relatively.
Key questions answered in the report:
- What will the marketgrowth rateof Peripheral Nerve Repair market?
- What are thekey factors drivingthe Global Peripheral Nerve Repair market?
- Who are thekey manufacturersin Peripheral Nerve Repair market space?
- What are themarket opportunities, market risk and market overviewof the Peripheral Nerve Repairmarket?
- What are sales, revenue, and price analysis of top manufacturers of Peripheral Nerve Repair market?
Nerve Repair Market Segmental Analysis
The segmental analysis of the Nerve Repair Market is conducted on the basis of product, application, method, and region.
Based on the product, the Nerve Repair Market is segmented into nerve conduits, biomaterials, nerve protectors, and others. The biomaterials segment can be further segmented into neuromodulator devices, neuro-stimulation, and others.
By application, the Nerve Repair Market is segmented into prognosis, surgery, autologous nerve grafting, and others.
Based on the method, the Nerve Repair Market is segmented into direct nerve repair, stem cell therapy, nerve grafting, and others.
By region, the Nerve Repair Market is segmented into the Americas, Europe, Asia Pacific, Africa, and the Middle East.
Regional Analysis
Geographically, global Nerve Repair Market is segmented into America, Europe, Asia Pacific and Middle East & Africa.
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Nerve Repair and Regeneration Market is anticipated to reach USD 15.7 billion by 2024.
It is anticipated to grow at a healthy rate in the years to come.
On the other hand, high cost and lack of skilled professionals and side effects related to the usage of neuro modulation and neuro stimulation devices are the major factors hampering the Nerve Repair and Regeneration Market growth in the years to come and anticipated to grow at a significant CAGR of 11.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
It may be explored by product as Neuro stimulation and Neuro modulation Devices (pertaining to Transcranial Magnetic Stimulation, and Transcutaneous Electrical Nerve Stimulation).
Internal Neuro stimulation Devices include Deep Brain Stimulation, Spinal Cord Stimulation, Gastric Electrical Stimulation, Sacral Nerve Stimulation, and Valgus Nerve Stimulation.
In 2016, the largest market share was held by “Hospital” end user sector in the market due to growing occurrence of neurological prevalence and growth in the number of hospitals in developing economies.
Growth in this market is driven mainly by high incidence of nerve injuries, the growing prevalence of neurological disorders, and rising government support for neurologic disorder research.The global Nerve Repair and Regeneration Market size is projected to reach USD 9.7 billion by 2025 from USD 6.3 billion in 2020, growing at a CAGR of 9.1% from 2020 to 2025.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=883Market Segmentation: -By product, the nerve repair market is segmented into neurostimulation and neuromodulation devices and biomaterials.
The neurostimulation and neuromodulation devices segment is segment is expected to grow at the highest growth rate during the forecast period.
The large market share of this segment is driven mainly by rising government expenditure for neurologic disorders, and favorable reimbursement.Based on the neurostimulation and neuromodulation application, the nerve regeneration market is segmented the neurostimulation and neuromodulation devices market is segmented into internal neurostimulation and neuromodulation applications and external neurostimulation and neuromodulation applications.
The internal neurostimulation and neuromodulation segment is estimated to register the highest CAGR during the forecast period.Based on application, the biomaterials market is segmented into direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy.
In 2019, the direct nerve repair segment accounted for the largest share of the market.Recent Developments: -In 2020, Medtronic received CE approval for InterStim Micro neurostimulator and InterStim SureScan MRI leads — clearing the technologies for commercial sale and clinical use in EuropeIn 2019, Boston Scientific received FDA approval for the Image Ready MRI for its Vercise Gevia Deep Brain Stimulation SystemIn 2020, LivaNova entered into partnership with Verily (US) for evaluation of the effectiveness of Vagus Nerve Stimulation Therapy (VNS Therapy) for difficult-to-treat Depression (DTD)Regional Analysis: -The nerve repair market is segmented into five major regions, namely, Europe, North America, the Asia Pacific, Latin America, and Middle East & Africa.
In 2019, North America accounted for the largest share of the nerve repair and regeneration industry, followed by Europe.Request for Sample Pages : - https://www.marketsandmarkets.com/requestsampleNew.asp?id=883 Top Key Players: -Some of the major players operating in the global nerve repair market include Medtronic, PLC.
