Rockville, MD (PRWEB) September 26, 2013
Nerve Repair and Regeneration Market by Xenografts (Conduits, Protectors), Neuromodulation [Internal (Spinal Cord, Deep Brain)], External (Transcranial Magnetic)], Surgery [Direct Nerve Repair, Grafting, Stem Cell] - Global Trend and Forecast to 2018
The nerve repair and regeneration market was worth $4.1 billion in 2012 and is expected to grow at a CAGR of 11.5% in the next five years, primarily due to technological advancements and favorable reimbursement policies. The market is expected to witness a high growth in nerve grafting and neuromodulation segments, as they offer effective solutions for peripheral nerve repair and chronic pain, incontinence, heart failure, headache, depression, and epilepsy.
Moreover, there are certain devices in clinical trials for newer applications; for instance, deep brain stimulation for Alzheimer’s and depression, and vagus nerve stimulation for heart failure. Novel therapies (such as stem cell therapy) and emerging markets provide huge growth opportunities. However, the major challenges faced by the industry are donor site morbidity and inadequate nerve regenerationby conduits. The neuromodulation market is expected to reach $7.8 billion by 2018.
The peripheral nerve repair segment includes direct nerve repair, nerve grafting, and stem cell therapy, while the neuromodulation segment includes internal stimulation devices such asSpinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation (SNS),Gastric Electrical Stimulation (GES), and external stimulation devices such as Transcranial Magnetic Stimulation (TMS) and Transcutaneous Electrical Nerve Stimulation (TENS).
A number of factors such as the rapidly aging population, growing number of peripheral nerve injuries and associated diseases like Alzheimer’s, epilepsy, and Parkinson’s are the major reasons for the growth
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