What are Major Factors Driving Growth of Nerve Repair and Regeneration Market?

The prevalence of neurological disorders and chronic pain is increasing rapidly at the present time across the globe. Depression, fecal incontinence, epilepsy, Parkinson’s, and Alzheimer’s are the different kinds of neurological disorders. As per the Alzheimer’s Association, about 5.35 million people aged 65 years and above were suffering from Alzheimer’s diseases in the U.S. in 2015. Apart from this, as per the Parkinson’s Diseases Foundation, nearly 60,000 new cases of Parkinson’s disease are reported each year in the U.S. Attributed to these reasons, the demand for efficient medical technologies, such as neuromodulation and neurostimulation devices, is increasing rapidly. 

The different applications of the nerve repair and regeneration devices are stem cell therapy, neurostimulation and neuromodulation surgeries, nerve grafting, and direct nerve repair/neurorrhaphy. Out of these, the largest demand for different nerve repair and regeneration devices was created for neurostimulation and neuromodulation surgeries in the past. Ambulatory surgery centers and hospitals & clinics are the major end users of the nerve repair and regeneration devices. Between these two, the hospitals & clinics category is predicted to witness the fastest growth in the coming years because of the surging patient pool, increasing geriatric population, and improving healthcare infrastructure. 

Access Report Summary - Nerve Repair and Regeneration Market Segmentation Analysis

The potential of stem cell therapy in the field is predicted to create wide opportunities for players operating in the nerve repair and regeneration market. Stem cell therapy is an emerging branch of medicine which has the potential of restoring tissue and /or organ function in patients suffering from critical injuries or chronic diseases. According to clinical research findings, stem cell therapy provides better quality as compared to nerve graft surgeries. Moreover, research is going on in the field of stem cell therapy for its application in the treatment of Alzheimer’s disease and Parkinson’s disease. This is further expected to drive the market in the near future.