Nerve Repair and Regeneration
Market Dynamics:-
Major growth factor for Nerve
Repair and Regeneration Market is the growing prevalence of neurological
disorders. According to a survey conducted by National Health Interview survey
(NHIS) in 2014, and estimated 1.4 million people suffer from nerve injuries and
around 900,000 people undergo surgeries for neurological disorders. Moreover,
new drugs for nerve repair and regeneration in the pipeline are expected to
boost growth of the nerve repair and regeneration market over the forecast
period. For instance, Axogen Inc. a U.S.-based company received an approval
from Food and Drug Administration (FDA) in 2015 to proceed with RECON STUDY to
support an investigational new drug application. RECON study is a prospective,
multicenter, randomized study to evaluate surgical repairs outputs of
peripheral nerve disorders. It is currently in phase 3 clinical trial.
Furthermore, mergers and acquisitions by key market players are expected to
fuel growth of the market. For instance, AxoGen a U.S.-based company, which is
a leading company in nerve regeneration partnered with LifeNet Health, a
leading allograft bio-implant company for the processing of advanced nerve
grafts. This partnership is expected to improve the access for treatment of patients
suffering from peripheral nerve disorder, which in turn is expected to fuel
growth in global nerve repair and regeneration market.
However, stringent rules and
regulation for approval of new drugs and high cost of nerve repair and
regeneration devices and surgeries are key factors restraining growth of the
nerve repair and regeneration market size.
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The delicate and complex
structures that make up the nervous system consists of spinal cord, brain and
peripheral nerves. They are prone to various types of disorders such
Alzheimer’s disease, Amyotrophic lateral sclerosis, Parkinson’s disease,
multiple system atrophy, and multiple sclerosis. Nerve repair and regeneration
refers to repair and regrowth of nervous cells or tissues. It usually includes
various mechanisms like generation of new glia, neurons, axons, myelin and
synapses. Nerve Regeneration is segmented between the Peripheral Nervous System
(PNS) and Central nervous system (CNS). CNS consists of the brain and spinal
cord and PNS consists of spinal and cranial nerves along with their associated
ganglia. PNS has an intrinsic ability of regeneration whereas CNS is not
capable of repair and regeneration. Clinical treatments of nerve repair and
generation include surgery, nerve grafting, allografts, and xenografts. Surgery
includes of different types such as stem cell therapy, nerve grafting, and
direct neuropathy. Stem cell therapy uses stem cells to treat disorders such as
neuromuscular and degenerative disorders. Nerve grafting is a surgical
technique, which includes repairing injured portion of the nerve by using a
segment of unrelated nerve as a bridge to join the injured nerve.
Nerve Repair and Regeneration
Market Regional Analysis:-
North America nerve repair and
regeneration market is expected to hold dominant position and is expected to
witness significant growth over the forecast period, owing to adoption of inorganic
growth model by key players for geographic expansion. For instance, in January
2018, NeuroMetrix and GlaxoSmithKline Plc. (GSK) consumer health care merged to
increase and develop new Quell Wearable pain release technology, this is a
non-invasive device used to treat and manage chronic pain associated by nerve
repair surgeries.
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GSK Consumer healthcare acquired
ownership of Quell Technology for markets outside U.S. In 2018 Collagen Matrix
a U.S. based company launched OssiMend Spine and Dura Matrix Dural Repair
products, OssiMend is a bone graft matrix which is used to provide scaffold to
a patient to help them grow a new bone. Dura Matrix provides scaffold to brain
and spinal cord. Europe nerve repair and regeneration market is expected to
grow at significant rate, owing to increasing prevalence of neurological
disorders. According to a study conducted by National Institute of health
(NIH), in 2017, Alzheimer’s disease is reported to be the most common type of
dementia. Increasing number of geriatric population is in turn increasing
number of patients suffering from Alzheimer disorder, around 16.51 million
people are diagnosed with Alzheimer in Europe between 2014 and 2016.
Nerve Repair and Regeneration
Market Key Players:-
Key players operating in nerve repair and
regeneration market include AxoGen, Boston Scientific, Liva Nova, Integra Life
Sciences, Medtronic, Abbott Laboratories, Stryker, Nevro, Polyganics,
Neuvectra, OrthoMed S.A.S, St. Jude Medical, Cyberonics Inc., and others.
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