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Future Potential of Nerve Repair and Regeneration
Due to the intricate and fragile components, the nervous system, which consists of the spinal cord, brain, and peripheral nerves, is vulnerable to several kinds of harm. The market for nerve healing biomaterials is expanding because of the rising frequency of nerve damage.The demand for nerve repair and regeneration is predicted to touch $17.47 billion by 2030. This can be attributed mostly to the increase in traumatic brain injuries (TBIs) and other neurological conditions such as ataxia, acute spinal cord injury, and Alzheimer's disease
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Additionally, deep brain stimulation-treated dystonic patients and Parkinson's patients are quite likely to endure chronic stress as a result of social limitations. Alzheimer's affects over 6 million Americans of all ages.
According to the Alzheimer's Association, 6.5 million Americans aged 65 and older are anticipated to have Alzheimer's disease in 2022. As a result, there is a growing need among them for treatments and medications that can aid in neuron regeneration or repair, and the availability of such therapies is also expanding.
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With a share of more than 30%, North America continues to make strides in nerve repair and regeneration therapies. This is majorly because of the high prevalence of neurodegenerative diseases in the region, with the Alzheimer's Disease Association estimating the 2022 incidence of Alzheimer's in the U.S. at over 6.2 million individuals.
Additionally, medical technology organizations, such as Medtronic plc, Boston Scientific Corporation, and Abbott Laboratories, are striving to launch advanced biomaterials and devices for nerve therapy. Since all these companies are either headquartered or have a significant foothold in North America, the region enjoys a comparatively wider availability of nerve therapies than the developing regions.
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