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(CityRegions.Com, May 28, 2018 ) The study of Global Nerve Repair and Regeneration Market 2018 provides the market size information, In-Depth Analysis along with Competitive Insights and Segmentation.
The global nerve repair and regeneration market is expected to register a growth rate of approximately 11.7% during the forecast period (2018-2023) The presence of strong product pipeline of major multinational companies and improved treatment efficiency for neurological disorders are some of the primary drivers for this market North America is anticipated to dominate the market share during the forecast period owing to well-developed healthcare infrastructure, better health insurance policies, and higher incidence rate of neural disorders
Rising Prevalence of Neurological Diseases and Peripheral Nerve Injuries in Geriatric Population
The global rising prevalence of neurological diseases and peripheral nerve injuries in geriatric population is one of the primary factors driving this market Some of the most common neurological disorders include stroke, migraine, brain tumors, spinal cord injuries, and multiple sclerosis, among others The peripheral nerve injuries also occur at a rising incidence rate, with the presence of traumatic neuropathies and neuropathic pain, including crush injuries Around 500,000 deaths by brain aneurysms have been recorded worldwide each year Thus, in the forecast period, this number is further expected to grow each year, creating the need for more nerve repair and regeneration products
Other factors driving this market are technological advancements in nerve repair and regeneration with rise in the healthcare expenditure by government with favorable policies in developed market
Market Segmentation of Nerve Repair and Regeneration Market
By Application
Neurostimulation and Neuromodulation Surgeries
Direct Nerve Repair/Neurorrhaphy
Nerve Grafting
Stem Cell Therapy
By End User
Hospitals & Clinics
Ambulatory Surgery Centers
Others
High Cost of Neurostimulation and Neuromodulation Devices
The expensive nature of neurostimulation and neuromodulation devices is one of the key factors restricting the growth of this market Due to this, they are not widely used, costing anywhere from several hundred dollars to tens of thousands of dollars Moreover, the insurance companies cover costs for some therapies but not all This affects the hospital’s overall budget; for example, in 2015, according to Modern Healthcare, hospitals faced the higher prices issues for spinal cord stimulators by companies such as Boston Scientific and Medtronic Thus, this factor would play a significant role in hindering this market
United States is the Largest Market
In North America, the presence of multinational companies with continuous technological developments with rising availability of medical devices, favorable insurance policies, and increasing incidence rate of neural disorders drive the market, particularly in the United States Availability of technologically advanced devices by major companies such as Medtronic and Boston Scientific helps in the dominance of this market in the country
Key Developments in the Market
January 2018 - Orthocell Limited received Australian patent for its CelGro collagen medical device platform, which covers the method of suture-less repair of soft tissue defects
November 2017 - AxoGen, Inc expands its platform for nerve repair to address breast reconstruction neurotization following mastectomy
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Major player: ABBOTT, AXOGEN INC, BAXTER, BOSTON SCIENTIFIC CORPORATION, CYBERONICS, INC, MEDTRONIC PLC, NUVECTRA, ORTHOMED, INC, POLYGANICS, AND STRYKER, amongst others
Reasons to Purchase the Report
Current and future global nerve repair and regeneration market in the developed and emerging markets
Analysis of various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements Please connect with our representative, who will ensure you to get a report that suits your needs
Browse Global Nerve Repair and Regeneration Market 2018 @ http://www.orbisresearch.com/reports/index/global-nerve-repair-and-regeneration-market-segmented-by-product-type-application-end-user-and-geography-growth-trends-and-forecast-2018-2023
Some of Major Point From Global Nerve Repair and Regeneration Market 2018 Table of Content
1. Introduction
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
Continued...
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