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Nerve Repair Market: Opportunities and Challenges

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Nerve Repair Market: Opportunities and Challenges

November 05
01:50 2019
Nerve Repair Market: Opportunities and Challenges

Key players operating in the nerve repair and regeneration market include Medtronic (US), Boston Scientific (US), Abbott Laboratories (US), LivaNova (UK), Baxter (US), AxoGen (US), and Stryker (US).
The major factors driving the growth of this market are the high incidence of nerve injuries, growing prevalence of neurological disorders, increasing geriatric population, and availability of technologically advanced nerve repair and regeneration products.

The nerve repair market is projected to reach USD 10.59 billion by 2022 from USD 5.79 billion in 2017, at a CAGR of 12.9%. The major factors driving the growth of this market are the high incidence of nerve injuries, growing prevalence of neurological disorders, increasing geriatric population, and availability of technologically advanced nerve repair and regeneration products. On the other hand, the dearth of trained professionals and a stringent regulatory framework are expected to hinder the growth of this market to a certain extent.

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What are the opportunities in emerging markets?

The emerging countries such as India, China, and Brazil are expected to offer potential growth opportunities for the market players during the forecast period. The huge population base, especially in India and China, is one of the major factors that will offer sustainable growth opportunities for players offering nerve repair and regeneration products. In addition, the increasing healthcare expenditure and rising incidence of neurological diseases like Alzheimer’s, Parkinson’s, and epilepsy will help increase the demand for nerve repair and regeneration products in these countries. According to the World Bank, healthcare expenditure in India increased from 4.2% of GDP (Gross Domestic Product) in 2000 to 4.7% of GDP in 2014. Similarly, in China, healthcare expenditure increased from 4.5% of GDP in 2000 to 5.5% of GDP in 2014. This trend indicates that the expenditure on healthcare is high and is growing at a significant rate in these countries. This, in turn, is supporting the growth of hospitals and ambulatory surgical centers in these countries. This is considered as a positive indicator for the market growth as hospitals and ambulatory surgical centers are major end users of nerve repair and regeneration products.

Why is Donor-site morbidity a challenge?

Donor nerves provide a suitable environment for the regeneration of new nerves. However, donor nerves often suffer from tissue morbidity, and donor-site morbidity is considered as a major concern in patients undergoing allograft surgeries. Normally, in nerve defects of a few centimeters in length, sensory nerve autografts are used as the standard technique; however, this approach is limited by the availability of donor nerves and co-occurring disorders associated with additional surgeries.

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