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Global Nerve Repair and Regeneration Market Research Report:
The latest report by IMARC, titled “ NerveRepairandRegenerationMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunityand Forecast2023-2028
” " the global nerve repair and regeneration market size reached US$ 7.7 Billion in 2022. Nerve repair and regeneration (NRaR) is a method of neural tissue engineering that aids in the healing of nerve injuries. It helps in restoring normal nerve function that has been disrupted due to various causes, such as pressure, severe trauma, stretching, or cutting.
The process of nerve repair and regeneration involves a complex interplay of biological processes, including the growth and migration of nerve cells, the formation of new blood vessels, and the synthesis of various proteins and signaling molecules. The technique employs various biomaterials, such as nerve conduits, protectors, wraps, and connectors, along with neuro-stimulation and neuromodulation devices that are used for direct neuropathy, nerve grafting, stem cell therapy and transcutaneous, transcranial magnetic, spinal cord, deep brain, sacral nerve, and vagus nerve stimulation.
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Global Nerve Repair and Regeneration Market Trends:
The increasing prevalence of chronic neurological disorders is driving the global market. Along with this, the rising awareness regarding the benefits of nerve repair and regeneration techniques among patients and healthcare professionals is catalyzing the demand. Moreover, the development of innovative products, such as nerve conduits, nerve wraps, and nerve protectors, are acting as another growth-inducing factor. In line with this, the easy availability of numerous medicines for managing central nervous system (CNS) and peripheral nervous system illnesses, including Parkinson's disease, Alzheimer's, and multiple sclerosis, is supporting the overall demand. Additionally, various technological advancements in stem cell therapy and the development of innovative neuromodulation devices are augmenting the market.
Furthermore, increasing funding by the governments for research and development (R&D) activities to develop new treatments and products is providing a boost to the demand. Apart from this, the growing adoption of minimally invasive surgical procedures is also fuelling the demand for nerve repair and regeneration products. Other factors, such as rising healthcare expenditures of the masses, significant improvements in the medical infrastructure and the growing geriatric population, are projected to propel the market further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 14.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Report Description Report Description and Highlights
MarketSummary:
BreakupbySurgery:
• Direct Nerve Repair/Neurorrhaphy
• Nerve Grafting
• Stem Cell Therapy
• Neurostimulation and Neuromodulation Surgeries
BreakupbyProduct:
• Biomaterial
• Neurostimulation and Neuromodulation Devices
• Spinal Cord Stimulation Devices
• Deep Brain Stimulation Devices
• Sacral Nerve Stimulation Devices
• Vagus Nerve Stimulation Devices
• Gastric Electric Stimulation Devices
BreakupbyEndUser:
• Hospitals and Clinics
• Ambulatory Surgical Centers
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Abbott Laboratories
• Alafair Biosciences Inc
• AxoGen Inc.
• Baxter International Inc.
• Boston Scientific Corporation
• Collagen Matrix Inc.
• Integra Lifesciences Corporation
• Medtronic plc
• Polyganics BV
• Soterix Medical Inc.
• Stryker Corporation
• Synapse Biomedical Inc.
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Report Description Report Description and Highlights
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