Rapid Growth of Nerve Regeneration Market | Which is Expected to grow at a CAGR of 11.3% | Forecast to 2023

Nerve Regeneration Market
Market Research Future published a Half-Cooked research report on “Global Nerve Regeneration Market Research Report – Forecast to 2023”– Market Analysis, Scope, Trends and Forecast to 2023

The large share in the global nerve regeneration market is held by the global companies. Top player have adopted the organic strategy of product launches to cement its position in the highly dynamic nerve regeneration market. Further, some players have also invested heavily in various research & development activities to bring innovative products in the market and to cater to the unmet market needs. Boston Scientific Corporation is one of the leading player of the market.

The key players profiled in nerve regeneration are AxoGen Inc. (U.S.), Xcelthera, INC. (U.S), Orthomed S.A.S. (France), Baxter International Inc. (U.S.), Boston Scientific Corporation (U.S.), Integra LifeSciences Corporation (U.S.), Cyberonics Inc. (U.S.), Medtronic (U.S.), Polyganics (Netherlands), Stryker Corporation (U.S.), St. Jude Medical (U.S.), Neurotex Limited (U.K).

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Latest Industry Updates

Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. As major companies have already a well-developed brand identity, other growing companies are focusing on the product quality to gain the market. Some of the latest development in the market are-

Sept 2016 Boston Scientific Corporation, world’s top, medical device developer and provides more accessible low cost and less invasive options to patients and headquartered in U.S. was awarded by medical design excellence award and was nominated in top 100 global innovators

March 2014 Medtronic, among the world’s largest medical equipment development companies launched neurostimulation devices used for deep brain, spinal cord and peripheral nerve stimulation therapies – multiple models

The research for the nerve regeneration requires a huge capital and is a brain storming process. In addition to this, lack of awareness among the people is the major hurdle for the manufacturers and market. During early stages, it may take time for widespread growth of the technologically advanced and innovative methods in the developing countries. Due to lack of the financial availability in developing regions and poor infrastructure will be the major barrier for the market. However, rapid development in economy and increasing demand for the better treatment options will serve as the best opportunity for the market development in undeveloped regions.

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Global Nerve Regeneration Market – Overview

Neuro or nerve regeneration is repair or regeneration of nervous tissues or cells. These mechanism includes regeneration new neurons, and of its various components including glia, axon, myelin or synapses. Many chronic diseases and nerve injuries require treatment by regeneration of cells which is major factor for driving the growth of the market. Disorders like Alzheimer’s disease and traumatic injuries need regeneration of cells and it can be treated more effectively by regenerative method. According to World Alzheimer report in the year 2015, around 46 million peoples were suffered with Alzheimer and dementia disease and it will go up to 131 million till 2050, which will increase the growth of the market. Additionally, according to Centers for Disease Control and Prevention (2014), approximately 7% of the total Americas population was suffering from minor or major neuropsychiatric disorders. Alzheimer’s is the sixth leading cause of death in the United States. Increasing prevalence of diseases, rising awareness regarding treatment will fuel the growth of the market. However, high cost of the treatment and lack of awareness may slow the growth of the market.

Regional Analysis

Geographically, the global nerve regeneration market is segmented into America, Europe, Asia Pacific and Middle East & Africa. The Americas commands for the largest market owing to the presence of a well-developed healthcare sector and large patient populations. Being favorable government policies and availability of funds for research & development have encourage the manufacturers to introduce new and advanced method and products.  Well-developed technology, high healthcare spending, increasing adding population, and rising stress have fuelled the growth of the market in this region. Europe holds the second position in the global nerve regeneration market owing to the government support for research & development and availability of funds for research. Asia Pacific is the fastest growing nerve regeneration market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in prevalence of nerve injuries or disorder related to nerve. However, the Middle East and Africa has the lowest market for nerve regeneration due to lack of technical knowledge and poor medical facilities in Africa region.

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The Americas command the largest market due to the notable increasing incidence of nerve injuries and encouraging research and development in healthcare. Americas dominate the global nerve regeneration market owing to well-developed technology, high healthcare spending, increasing adding population, and rising stress. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.

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