Nerve Repair and RegenerationMarket Dynamics:-
Major growth factor for NerveRepair and Regeneration Market is the growing prevalence of neurologicaldisorders. According to a survey conducted by National Health Interview survey(NHIS) in 2014, and estimated 1.4 million people suffer from nerve injuries andaround 900,000 people undergo surgeries for neurological disorders. Moreover,new drugs for nerve repair and regeneration in the pipeline are expected toboost growth of the nerve repair and regeneration market over the forecastperiod. For instance, Axogen Inc. a U.S.-based company received an approvalfrom Food and Drug Administration (FDA) in 2015 to proceed with RECON STUDY tosupport an investigational new drug application. RECON study is a prospective,multicenter, randomized study to evaluate surgical repairs outputs ofperipheral nerve disorders. It is currently in phase 3 clinical trial.Furthermore, mergers and acquisitions by key market players are expected tofuel growth of the market. For instance, AxoGen a U.S.-based company, which isa leading company in nerve regeneration partnered with LifeNet Health, aleading allograft bio-implant company for the processing of advanced nervegrafts. This partnership is expected to improve the access for treatment of patientssuffering from peripheral nerve disorder, which in turn is expected to fuelgrowth in global nerve repair and regeneration market.
However, stringent rules andregulation for approval of new drugs and high cost of nerve repair andregeneration devices and surgeries are key factors restraining growth of thenerve repair and regeneration market size.
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The delicate and complexstructures that make up the nervous system consists of spinal cord, brain andperipheral nerves. They are prone to various types of disorders suchAlzheimer’s disease, Amyotrophic lateral sclerosis, Parkinson’s disease,multiple system atrophy, and multiple sclerosis. Nerve repair and regenerationrefers to repair and regrowth of nervous cells or tissues. It usually includesvarious mechanisms like generation of new glia, neurons, axons, myelin andsynapses. Nerve Regeneration is segmented between the Peripheral Nervous System(PNS) and Central nervous system (CNS). CNS consists of the brain and spinalcord and PNS consists of spinal and cranial nerves along with their associatedganglia. PNS has an intrinsic ability of regeneration whereas CNS is notcapable of repair and regeneration. Clinical treatments of nerve repair andgeneration include surgery, nerve grafting, allografts, and xenografts. Surgeryincludes of different types such as stem cell therapy, nerve grafting, anddirect neuropathy. Stem cell therapy uses stem cells to treat disorders such asneuromuscular and degenerative disorders. Nerve grafting is a surgicaltechnique, which includes repairing injured portion of the nerve by using asegment of unrelated nerve as a bridge to join the injured nerve.
Nerve Repair and RegenerationMarket Regional Analysis:-
North America nerve repair andregeneration market is expected to hold dominant position and is expected towitness significant growth over the forecast period, owing to adoption of inorganicgrowth model by key players for geographic expansion. For instance, in January2018, NeuroMetrix and GlaxoSmithKline Plc. (GSK) consumer health care merged toincrease and develop new Quell Wearable pain release technology, this is anon-invasive device used to treat and manage chronic pain associated by nerverepair surgeries.
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GSK Consumer healthcare acquiredownership of Quell Technology for markets outside U.S. In 2018 Collagen Matrixa U.S. based company launched OssiMend Spine and Dura Matrix Dural Repairproducts, OssiMend is a bone graft matrix which is used to provide scaffold toa patient to help them grow a new bone. Dura Matrix provides scaffold to brainand spinal cord. Europe nerve repair and regeneration market is expected togrow at significant rate, owing to increasing prevalence of neurologicaldisorders. According to a study conducted by National Institute of health(NIH), in 2017, Alzheimer’s disease is reported to be the most common type ofdementia. Increasing number of geriatric population is in turn increasingnumber of patients suffering from Alzheimer disorder, around 16.51 millionpeople are diagnosed with Alzheimer in Europe between 2014 and 2016.
Nerve Repair and RegenerationMarket Key Players:-
Key players operating in nerve repair andregeneration market include AxoGen, Boston Scientific, Liva Nova, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker, Nevro, Polyganics,Neuvectra, OrthoMed S.A.S, St. Jude Medical, Cyberonics Inc., and others.
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