The Global Nerve Repair and Regeneration Market is valued to reach USD 10.2 Billion by 2022, growing at CAGR of 12.3% during forecast period 2020–2026. Growing geriatric population, rising incidence of nerve injuries coupled with surge in prevalence of neurological disorders are the factors augmenting the market growth.
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Nerve injuries can turn fatal resulting into sensation. A prior understanding of nerve injury and recovery can help in determining the injury type to decide the treatment type. For instance, there can be two types of nerve injuries such as neurapraxia, and axonotmesis. Neurapraxia recovers in a few days or month as the full recovery ensures no sensory problems. In the latter type, the full recovery will be much slower than first degree injury and the nerve needs to grow back to its best form to re-establish its functions with muscle and skin and this can grow at the rate of an inch per month. Therefore, full recovery for axonotmesis condition will be much longer with the first degree injury.
The rate and amount of recovery majorly depends upon various factors such as heavy scarring and potential mismatching of fiber and sensory motors. As the scarring grows deep there are less chances for a nerve to recover faster as in accordance with mismatch between fiber and sensory motors. Following the nerve injury, the nerve tries to repair itself by developing regenerating nerve units. The regenerating units will the try to grow down the nerve to establish its normal functions with skin and muscle.
From the commercial aspect, as the world moves towards more comfort and convenience, the chance of accidents and resulting injuries have grown too. For instance, the rise in rate of road accidents results in potential fatalities which is almost doubling every year on a global scale. In addition, rise in adventure and solo sports have also reported potential casualties for participants that were treated for nerve repair. On the medical front, availability of a relevant medical infrastructure for skin grafts, nerve repair and regeneration and treatments is instrumental in shaping the market development in the long term.
Nerve Repair and Regeneration Market Trends, Drivers and Opportunities:
Nerve repair and regeneration market is significantly driven by rise in treatment efficiency for neurological disorders in the population due to change in lifestyle and sleeping disorders. Medical approvals by the authorities have create tremendous opportunities for the growth. Additionally, rise in incidences of traumatic injuries to the brain and increasing prevalence of CNS is likely to trigger the market developments in the long term. High prevalence of Parkinson’s in the geriatric population is enabling a huge demand for therapy and diagnosis. However, lack of awareness and non-availability of fast paced treatments have created challenges for market growth in the forecast period.