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Major Growth Factor For Nerve Repair And Regeneration Market Is The Growing Prevalence Of Neurological Disorders
Nerve Repair and Regeneration Market
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PNS has an intrinsic ability of regeneration whereas CNS is not capable of repair and regeneration. Clinical treatments of nerve repair and generation include surgery, nerve grafting, allografts, and xenografts. Surgery includes of different types such as stem cell therapy, nerve grafting, and direct neuropathy. Stem cell therapy uses stem cells to treat disorders such as neuromuscular and degenerative disorders. Nerve grafting is a surgical technique, which includes repairing injured portion of the nerve by using a segment of unrelated nerve as a bridge to join the injured nerve.
Nerve Repair and Regeneration Market - Top Key Vendors of Global Market
AxoGen, Boston Scientific, Liva Nova, Integra Life Sciences, Medtronic, Abbott Laboratories, Stryker, Nevro, Polyganics, Neuvectra, OrthoMed S.A.S, St. Jude Medical, Cyberonics Inc., and others.
Nerve Repair and Regeneration Market Dynamics:-
Major growth factor for nerve repair and regeneration market is the growing prevalence of neurological disorders. According to a survey conducted by National Health Interview survey (NHIS) in 2014, and estimated 1.4 million people suffer from nerve injuries and around 900,000 people undergo surgeries for neurological disorders. Moreover, new drugs for nerve repair and regeneration in the pipeline are expected to boost growth of the nerve repair and regeneration market over the forecast period. For instance, Axogen Inc. a U.S.-based company received an approval from Food and Drug Administration (FDA) in 2015 to proceed with RECON STUDY to support an investigational new drug application. RECON study is a prospective, multicenter, randomized study to evaluate surgical repairs outputs of peripheral nerve disorders. It is currently in phase 3 clinical trial. Furthermore, mergers and acquisitions by key market players are expected to fuel growth of the market.
For instance, AxoGen a U.S.-based company, which is a leading company in nerve regeneration partnered with LifeNet Health, a leading allograft bio-implant company for the processing of advanced nerve grafts. This partnership is expected to improve the access for treatment of patients suffering from peripheral nerve disorder, which in turn is expected to fuel growth in global nerve repair and regeneration market. However, stringent rules and regulation for approval of new drugs and high cost of nerve repair and regeneration devices and surgeries are key factors restraining growth of the nerve repair and regeneration market size.
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Nerve Repair and Regeneration Market Taxonomy:-
The global nerve repair and regeneration market is segmented based on product type, surgery, end user, and region.
By Product Type:-
Neuromodulators
External Stimulation Devices
Transcutaneous external nerve stimulation
Transcranial Magnetic Stimulation
Internal stimulation Devices
Gastric Electrical stimulation
Deep Brain Stimulation
Vagus Nerve Stimulation
Spinal Cord Stimulation
Sacral Nerve Stimulation
Biomaterials
Nerve wraps
Nerve Protectors
Others
By Surgery:-
Nerve Grafting
Allografts
Xenografts
Auto grafts
Perineural Repair
Group Fascicular Repair
Epineural Repair
Stem cell therapy
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