Global Nerve Repair & Regeneration Market: Overview
Nerve repair and regeneration offers replacement of damaged nervous tissue, cells, and cellular products. The nerve repair and regeneration mechanism involves generation of new axons, myelin, neurons, glial cells, and synapses. Nerve injuries are quite common and can be either caused by blunt trauma or traction injuries.
Based on product, the nerve repair and regeneration market can be classified into neurostimulation and neuromodulation devices and biomaterials. Neuromodulation devices are further divided into sacral nerve stimulation devices (SNS), vagus nerve stimulation devices (VNS), spinal cord stimulation devices (SCS), deep brain stimulation devices (DBS), gastric electric stimulation devices (GES), transcutaneous electrical nerve stimulation (TENS), and transcranial magnetic stimulation (TMS). On the basis of surgery, the market can be further categorized into nerve grafting, direct nerve repair, and stem cell therapy.
In the report, Transparency Market Research (TMR) offers a comprehensive analysis of drivers and restrictions in the global nerve repair and regeneration market. It also delivers insight to the various segments and regions of the market.
Global Nerve Repair & Regeneration Market: Trends and Prospects
High prevalence of nervous system injuries is the primary factor boosting the demand for nerve repair and regeneration procedures. The global market is also receiving an impetus from various factors such as technological advancements in nerve repair, positive reimbursement policies, developed efficacy of biomaterials in treating nervous system injuries, and escalating rate of chronic CNS disorders such as Alzheimer’s and Parkinson’s disease. On the contrary, lack of awareness among patients and physicians about nerve repair and regeneration products and techniques and shortage of skilled professionals are a few of the crucial factors limiting market growth.
The spinal cord stimulation devices segment held a large share in the market in 2015. It is projected to grow further in the forecast period due to high commercial availability of spinal cord products and its numerous applications. In terms of application, stem cell therapy is one of the fastest growing segments owing to rising R&D activities in the field by leading companies.
Global Nerve Repair & Regeneration Market: Regional Analysis
On the basis of geography, the global nerve repair and regeneration market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. Due to a large patient population and increase in the incidence of nerve injuries, North America is deemed to be the key contributor towards the growth of the market. In addition, high prevalence of chronic disorders such as Parkinson’s, epilepsy, Alzheimer’s, urine and fecal incontinence, chronic pain, and depression, along with rise in aging population, is driving the market.
The other two regions significantly contributing to the global market are Asia Pacific and Europe. The growth of these markets can be attributed to factors such as rising awareness among patient population, growing expenditure on healthcare, and development of innovative technologies.
Companies Mentioned in the Report
Some of the prominent players in the global nerve repair and regeneration market are Alafair Biosciences Inc., Baxter International Inc., AxoGen Inc., Boston Scientific Corporation, Integra Lifesciences Holdings Corporation, Cyberonics Inc., Medtronic Inc., Stryker Corporation and St. Jude Medical Inc.
The Global Nerve Repair & Regeneration Market is segmented as follows:
Global nerve repair & regeneration market, by Product
- External stimulation devices
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Transcranial Magnetic Stimulation (TMS)
- Internal stimulation devices
- Gastric Electrical Stimulation (GES)
- Vagus Nerve Stimulation (VNS)
- Spinal Cord Stimulation (SGS)
- Sacral Nerve Stimulation (SNS)
- Deep Brain Stimulation (DBS)
Global nerve repair & regeneration market, by Surgery
Peripheral nerve repair;
- Nerve grafting
- Direct nerve repair
- Stem cell therapy
Global nerve repair & regeneration market, by Geography
- North America
- Asia Pacific
- Rest of the World
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.