Global Nerve Regeneration and Repair Market, By Type (Biomaterials (Nerve Conduits, Nerve Protectors, Nerve Wraps, Nerve Connectors), Neurostimalation (Internal (SCS, DBS, VNS, SNS, GES), External (TENS, TMS, RES))), By Indication (Failed Back Surgery Syndrome, Parkinson’s disease, Urinary Incontinence, Epilepsy, Gastroparesis, Nerve Repair (Epineural, Perineural, Group Fascicular Repair), Grafting (Autograft, Allograft, Xenograft)), By End-User (Hospitals, Neurology Clinics, Home Healthcare, Community Healthcare), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America, Rest of the World) – Trends and Forecast to 2024
Market Analysis: Global Nerve Regeneration and Repair Market
Global Nerve Regeneration and Repair market is expected to reach USD 18.2 billion by 2024 from USD 7.5 billion in 2016, at a CAGR of 11.7% in the forecast period 2017 to 2024. The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Segmentation: Global Nerve Regeneration and Repair market
- The nerve regeneration and repair market is segmented into based on product type, indication, end-user and geography.
- On the basis of product types the market is segmented into 2 type’s biomaterial and neurostimulation segments. The neurostimulation segment dominates the market and is further classified into internal and external neurostimulation devices. Internal neurostimulation devices is further segmented into spinal cord stimulator (SCS), deep brain stimulator (DBS), vagus nerve stimulator (VNS), sacral nerve stimulator (SNS) and gastric nerve stimulator (GNS). External neurostimulation devices market is further segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS) and respiratory electrical stimulation (RES). Internal neurostimulation dominates the market owing to its greater acceptance in the clinical field and more success in pain management. The biomaterials segment is further categorized based on product types into nerve conduits, nerve protectors, nerve wraps and nerve connectors.
- The market is further segmented based on indications into failed back surgery syndrome, conditional regional pain syndrome, eschemia, Parkinson’s disease, Alzheimer’s, urinary incontinence, faecal incontinenece, epilepsy, gastroparesis, nerve repair, nerve grafting and others. Nerve repair segment is further segmented based on repair type into epineural repair, perineural repair and group fascicular repair. Nerve grafting segment is also further segmented based on graft types into autograft, allograft and xenograft.
- Based on geography the nerve regeneration and repair market is segmented into 6 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S., Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America is the largest market while Asia-Pacific is the fastest growing market due to the large incidence of epineural nerve injuries and Parkinson disease in the Asian countries like China. The high market share of North America is owing to increased population with insurance coverage after the launch of Obama Care and Patient Protection & Affordable Care Act (PPACA). The number of elderly insured people in U.S. is expected to reach 30 million and above by 2022. This is expected to drive the growth of this market in the forecast period.
Major Market Competitors: Global Nerve Regeneration and Repair market
The Global nerve regeneration and repair market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are AxoGen, Inc., Boston Scientific Corporation, Alafair Biosciences, BioControl Medical, Medtronic, AxoGen Inc., Boston Scientific Corporation, Baxter International, Checkpoint Surgical Inc., St. Jude Medical, Inc., Integra Lifesciences Corporation, Nevro Corporation, Orthomed S.A.S., Collagen Matrix, Inc., Cyberonics, Inc. Polyganics B.V. and Stryker Corporation among other companies.