Global Nerve Repair & Regeneration Market is projected to witness a growth rate of ~12% by 2027

Growing geriatric population, rising prevalence of neurological disorders, technological advancements in nerve repair and regeneration devices, rising incidence of nerve damage, and rising government investments in neurological disorder research are some of the major factors propelling the global market for nerve repair and regeneration.

(firmenpresse) - Repair and regeneration in the nervous system refers to the process through which damaged tissue grows or renews, eventually restoring nervous system function.

Technological Enhancements in Neurostimulation & Neuromodulation Devices Fuel the Nerve Repair & Regeneration Market Demand
Neurostimulation & Neuromodulation devices find their utilization in many applications such as to treat traumatic or neurodegenerative disorders such as Alzheimer's disease, amyotrophic lateral sclerosis, multiple sclerosis, Parkinson's disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders. The use of these devices in multiple applications is contributing to the growth of the nerve repair & regeneration market.

For instance,

?In December 2022, Abbott announced that they have received the U.S. FDA approval for the company's Eterna spinal cord stimulation (SCS) system for the treatment of chronic pain

?In March 2022, MyndTec announced that they have received FDA approval for MyndMove 2.0, its second-generation neuromodulation MyndMove system for clinical and home usage

Rising Occurrence of Neurological Disorders Boosts the Nerve Repair & Regeneration Market
According to the WHO, more than one billion individuals globally are plagued by some form of neurological disorder. The particular causes of neurological problems vary but can include genetic disorders, congenital abnormalities or disorders, infections, lifestyle or environmental health problems including malnutrition, brain injury, spinal cord injury, or nerve injury. With population growth and aging society, more people are reaching ages at which neurological diseases are highly prevalent.
Stem Cell-Based Therapies Expand the Growth
Opportunities in the Nerve Repair & Regeneration Market
Peripheral nerve injuries (PNIs) are among the most common types of traumatic nervous system lesions. The research findings suggest that the pluripotential stem cell from bone marrow, adipose tissue, skin, dental pulp, umbilical cord, or from nerve trunks can differentiate into Schwann cells and nerve cells with axons which could further help in the regeneration of the missing nerves. Furthermore, the use of stem cells derived from different sources has presented promising results for nerve regeneration and effective neural and functional results which in turn has further boosted the market growth.



Key Constraints faced by the Nerve Repair & Regeneration Market
The future expansion of the nerve repair and regeneration market is hindered by various factors, including the expensive nature of repair and regeneration devices, challenges associated with treating significant nerve gaps, and the increasing inclination towards drug therapies instead of nerve repair and regeneration products.

North America Expected to Continue to Hold a Major Share in the Nerve Repair & Regeneration Market
Geographically, North America accounts for a sizable portion of the nerve repair and regeneration market. This can be mainly attributed to the rising geriatric population, growing adoption of technologically advanced products, and favorable reimbursement landscape in the region.

Competitive Landscape Analysis of the Nerve Repair & Regeneration Market
Some of the key players operating in the market include AxoGen Inc., Stryker, Baxter International Inc., Polyganics B.V., and Medtronic plc., among others.

Organic Growth Strategies Adopted by Players to Establish Their Foothold in the Nerve Repair & Regeneration Market Market
Players operating in this market are adopting organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner market share.
For instance,

?In January 2023, Abbott announced that they have received the U.S. FDA approval for its Proclaim XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes

?In October 2022, Phageneis announced that they have received U.S. FDA de novo approval for the Phagenyx neurostimulation system, which uses pharyngeal electrical stimulation to restore swallowing control in patients with severe dysphagia post-stroke
Weitere Infos zu dieser Pressemeldung:

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
PresseKontakt / Agentur:
Bereitgestellt von Benutzer: Prathamesh
Datum: 27.07.2023 - 13:04 Uhr
Sprache: Deutsch
News-ID 2056774
Anzahl Zeichen: 4820

Kontakt-Informationen:
Ansprechpartner: Prathamesh Medi Tech
Stadt:

Brussels

Telefon: 0498868079

Kategorie:

Gesundheitswesen - Medizin

Meldungsart: Finanzinformation
Versandart: Veröffentlichung
Freigabedatum: 27.07.2023

Diese Pressemitteilung wurde bisher 475 mal aufgerufen.

Growing Focus on Augmented Reality Spurs 13% CAGR in Global Bionic Contact Lense ...

Bionic contact lenses are an innovative blend of traditional contact lenses and advanced tech, promising to reshape vision correction and AR experiences by overlaying digital information in real time. They offer benefits such as addressing nearsighte ...

The Bioburden Testing Market Continues Upward Trend with a Projected 12-15% CAGR ...

Bioburden testing, an essential quality control process in pharmaceutical and medical device production, evaluates microbial contamination levels on products, raw materials, and manufacturing settings, including bacteria, fungi, yeasts, and molds. Th ...

The Cardiac Resuscitation Devices Market is Poised to achieve a CAGR of 6-7% by ...

Cardiopulmonary resuscitation (CPR), another name for cardiac resuscitation, is an emergency treatment given to people who are experiencing cardiac arrest—a condition in which the heart stops beating efficiently—in an emergency. In order to susta ...

Alle Meldungen von Medi-tech insights