San Francisco, 19
November 2018: The global nerverepair 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
Research Report of Nerve Repair And
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.
Browse more reports of this 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
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
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Access Press Release of
Nerve Repair And Regeneration Market@ 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.
For More
Information: www.grandviewresearch.com
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