Nerve Repair and Regeneration market is expected to grow from USD 7.69 billion in 2019 to USD 17.87 billion by 2026 at a CAGR of 13% from 2020 to 2026.
Nerve repair and regeneration market is a mechanism that involves the generation of the latest neurons, glial cells, myelin, synapses, and axons. It is a division of neural tissue engineering. In nerve repair and regeneration, regrowth or repair of nervous tissues, cellular products, or cells is administered. The marketplace for nerve repair and regeneration is growing across different regions due to factors like growing awareness among patients, innovative approaches, and technological advancement. The complex, delicate structures that structure the nervous system-the brain, medulla spinalis, and peripheral nerves-are vulnerable to various sorts of injury starting from trauma to neurodegenerative diseases like Alzheimer's disease, paralysis agitans, amyotrophic lateral sclerosis, MS, and multiple system atrophy. Peripheral nerves link your brain and medulla spinalis to the opposite parts of your body, like your muscles and skin. These nerves are fragile and simply damaged, and hence can interfere with the brain's ability to speak with muscles and organs. The products market include biomaterials and neuro-stimulation & neuromodulation devices. Growth in the geriatric population, rise in prevalence of neurological & epidemic disorders, and launch of innovative products for nerve repair & regeneration are the main factors that drive the expansion of the worldwide market. Nevertheless, stringent regulatory requirements for product approvals act as a restraining factor for the market growth.
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The global Nerve Repair and Regeneration market has been segmented as below:
By Product
Neurostimulation and Neuromodulation Devices
Biomaterials
By Application
Neurostimulation and Neuromodulation Surgeries
Direct Nerve Repair/Neurorrhaphy
Nerve Grafting
Stem Cell Therapy
By End-User
Hospitals & Clinics
Ambulatory Surgery Centers
By Region
Europe
North America
Asia Pacific
Rest of The World
Competitive Rivalry
Medtronic, Abbott Laboratories, Stryker, Polyganics, Nuvectra, Neuropace, Orthomed, Nevro, Axogen, Baxter, and others are among the major players in the market. The companies studied in terms of product strategy and various n several growths and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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