Nerve Repair and Regeneration Market driven by high incidence rate of nervous system injuries and nerve repair

Nerve repair and regeneration, a subfield of neural tissue engineering often refers to the repair or regrowth of nervous tissues, cells or cellular products. The mechanism involved in nerve repair and regeneration includes generation of new glial cells, neurons, myelin, axons and synapses. The nervous system is classified under two broad divisions, namely, the central and peripheral nervous system. The central nervous system (CNS) comprises spinal cord and the brain while, the peripheral nervous system consists of spinal nerves, ganglia and cranial nerves. The peripheral nervous system of the body has an inherent ability of nerve repair and regeneration, whereas, the central nervous system of the body is incapable of self-repair and regeneration. The nerve repair and regeneration differs between central nervous system and peripheral nervous system by various functionality, speed and extent. The nerve repair and regeneration market can be segmented into two broad categories, as follows-

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Peripheral nerve repair;
Nerve grafting
Direct nerve repair
Stem cell therapy
Neuromodulation
External stimulation devices
Transcutaneous Electrical Nerve Stimulation (TENS)
Transcranial Magnetic Stimulation (TMS)
Internal stimulation devices
Gastric Electrical Stimulation (GES)
Vagus Nerve Stimulation (VNS)
Spinal Cord Stimulation (SGS)
Sacral Nerve Stimulation (SNS)
Deep Brain Stimulation (DBS)

It has been observed that every year globally more than 80,000 people are affected by nervous system injuries. Due to the high incidence rate of nervous system injuries and nerve repair, regeneration technique is a rapidly growing division of neural tissue engineering, dedicated towards discovery of innovative methods to recover nerve functionality after a nerve injury. A high incidence rate of nervous system injuries, improved efficacy of biomaterials in treating nervous system injuries coupled with a rise in incidence rate of chronic CNS disorders such as Parkinson’s disease and Alzheimer’s are some of the major factors that are expected to drive the growth of nerve repair and regeneration market. However, other factors such as the lack of skilled professional and patient as well as physicians awareness about nerve repair and regeneration techniques and products are expected to hinder the growth of nerve repair and regeneration market.

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Geographically, North America accounts for the largest share of nerve repair and regeneration market owing to its huge patient base and rise in incidence of nerve injuries. However, emerging regions such as Asia-Pacific and Europe are expected to contribute to the growth of global nerve repair and regeneration market owing to the development of innovative technologies and growing awareness among patient population.

AxoGen Inc., Alafair Biosciences Inc., Baxter International Inc., Boston Scientific Corporation, Cyberonics Inc., Integra Lifesciences Holdings Corporation, Medtronic Inc., Stryker Corporation and St. Jude Medical Inc., are some of the major companies involved in the nerve repair and regeneration market.

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