CHICAGO, August 7, 2015 /PRNewswire/ --
According to a new market research report "Nerve Repair and Regeneration Market, by Application (Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, Neurostimulation Surgery), Products (Biomaterials, Nerve Conduits, Nerve Protectors, Nerve Wraps, Devices) - Global Forecast to 2020", published by MarketsandMarkets, the global Nerve Repair and Regeneration Market is valued at USD 5,945.69 Million in 2015. This market is expected to grow at a CAGR of 11.83% to reach USD 10,398.79 Million in 2020.
Browse 72 market data Tables and 66 Figures spread through 150 Pages and in-depth TOC on "Nerve Repair Market"
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The rapidly increasing incidence of peripheral nerve injuries and neurological disorders is a major growth driver for this market. Furthermore, technological advancement in nerve repair and favorable reimbursement policies will be an important driver for the nerve repair and regeneration market.
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The Nerve Repair and Regeneration Market is segmented on the basis of application, product, and geography. The application segments included in this report are direct nerve repair/neurorrhaphy, nerve grafting, stem cell therapy, and neurostimulation and neuromodulation. The direct nerve repair/neurorrhaphy surgery segment is further categorized into epineural repair, perineural repair, and group fascicular repair. The nerve grafting surgery segment is further categorized into autografts, allografts, and xenografts. The neurostimulation and neuromodulation surgery segment is further categorized into external and internal neurostimulation surgeries.
The product segments included in this report are biomaterials and neurostimulation & neuromodulation devices. The subsegments of the biomaterials product segment are nerve conduits, nerve protectors, nerve wraps, and nerve connectors. The neurostimulation and neuromodulation devices product segment is further categorized into internal and external neurostimulation and neuromodulation devices. The subsegments of the internal neurostimulation and neuromodulation segment are spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, and gastric electrical stimulation. The subsegments of the external neurostimulation and neuromodulation product segment are transcutaneous electrical nerve stimulation, and transcranial magnetic stimulation.
The geographic segments included in this report are Asia, Europe, North America, and the Rest of the World (RoW). North America is expected to account for the largest share of the global Nerve Repair and Regeneration Market in 2015. The large share of this region can be attributed to the provisions of the Patient Protection and Affordable Care Act (PPACA), which has increased the number of individuals with insurance cover in the U.S. The PPACA is expected to reduce the number of nonelderly people without health insurance coverage by 14 million in 2014 and by about 30 million by 2022. This will result in increased access to healthcare, which in turn will aid the growth of the North American market. On the other hand, the Asian market is expected to grow rapidly at a higher CAGR in the forecast period owing to the rapid rise in the aging population, increasing healthcare expenditure, and the large untapped potential of Asia's markets.
The major companies in the Nerve Repair Market are AxoGen Inc. (U.S.), Baxter International (U.S.), Boston Scientific Incorporation (U.S.), Cyberonics Inc. (U.S.), Integra Lifesciences Corporation (U.S.), Medtronic plc (U.S.), Orthomed S.A.S. (France), Polyganics B.V. (Netherland), St. Jude Medical (U.S.), and Stryker Corporation (U.S.).
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