DIR Return Create A Forum - Home
---------------------------------------------------------
Iranian Tissue Engineering
HTML https://ite.createaforum.com
---------------------------------------------------------
*****************************************************
DIR Return to: Marketing and Tissue Engineering
*****************************************************
#Post#: 73--------------------------------------------------
Nerve Repair and Regeneration Market worth $7.8 billion by 2018
DIR By: nourani
Date: February 1, 2015, 7:42 pm
---------------------------------------------------------
This report studies the global nerve repair and regeneration
market over the forecast period of 2013 to 2018.
The global nerve repair and regeneration market is valued at
$4.5 billion in 2013 and is poised to reach $7.5 billion by
2018, at a CAGR of 11.5%.
The nerve repair and regeneration market is categorized into two
major segments, namely, peripheral nerve repair (direct nerve
repair, nerve grafting, and stem cell therapy) and
neuromodulation. Neuromodulation is considered as a potential
upcoming market segment. The favorable reimbursement policies,
technological advancements, and strong impact of this technology
on treating disorders such as Parkinson’s, Alzheimer’s,
epilepsy, and sleep apnea will be the major drivers for this
market. The peripheral nerve repair segment is expected to grow
at a lower but healthy CAGR in the next five years. The
increasing incidence of peripheral nerve injuries and enhanced
efficacy of biomaterials in treating nerve injuries are the
major factors driving the market growth. However, factors such
as the lack of trained professionals and lack of patient and
surgeon awareness about biomaterials and Neuromodulation devices
are expected to hamper the market growth.
Novel therapies (such as stem cell therapy)and emerging markets
provide a vast opportunity for market growth. Estimates suggest
that around 700,000 peripheral nerve repair surgeries are
performed every year across the world. However, the penetration
rate of stem cell therapy is less than 1% in all these
surgeries. Furthermore, emerging countries such as India, China,
South Africa, and Australia offer huge growth opportunities with
their diversified healthcare markets. The huge population base,
especially in India and China, and aging population offers a
sustainable market for nerve repair and regeneration surgeries.
The major challenges for the market are donor site morbidity and
inadequate nerve regeneration by conduits. The co-occurring
diseases through nerve grafting surgeries and advancement of
conduits for aiding the regeneration of long nerve gaps are the
primary challenges that have to be overcome by the technology
providers.
The internal neuromodulation device market accounts for the
largest share of around87% and is expected to grow at a
double-digit CAGR in the next five years. The improved
technology and effective outcomes across sub-segments such as
spinal cord stimulation, deep brain stimulation, sacral nerve
stimulation, and vagus nerve stimulation propel the growth of
this market.
The global biomaterials nerve repair and regeneration market is
estimated to grow at a healthy CAGR of more than 11%. The
favorable growth is due to a wide range of innovative products
such as nerve conduits, nerve wraps, nerve connectors, and nerve
protectors.
North America accounts for the largest share of the global nerve
repair and regeneration market, in 2013. However, the RoW region
is expected to grow at a higher CAGR in the forecast period.
This is due to factors such as rising awareness, growing demand
for nerve repair products, and increased investments in regions
such as the Middle East and LATAM.
Major players in the neurostimulation market include Medtronic
(U.S.), Boston Scientific (U.S.), St. Jude Medical (U.S.), and
Cyberonics (U.S.), whereas the peripheral nerve repair market is
dominated by Integra LifeSciences Corporation (U.S.), Stryker
Corporation (U.S.), and AxoGen, Inc. (U.S.).
About MarketsandMarkets
MarketsandMarkets is a global market research and consulting
company based in the U.S. We publish strategically analyzed
market research reports and serve as a business intelligence
partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company
profiles, databases, and custom research services. M&M covers
thirteen industry verticals, including advanced materials,
automotives and transportation, banking and financial services,
biotechnology, chemicals, consumer goods, energy and power, food
and beverages, industrial automation, medical devices,
pharmaceuticals, semiconductor and electronics, and
telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by
providing apt business insight with our huge market intelligence
repository.
Contact:
Mr. Rohan
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-6006-441
Email: sales@marketsandmarkets.com
*****************************************************
Page 1 of 1