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Oct 29, 2023

Nerve Repair and Regeneration Market to Reach $20.5 Billion by 2030: Grand View Research, Inc.

News provided by 08 Jun, 2023, 04:30 ET Share this article SAN FRANCISCO, June

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08 Jun, 2023, 04:30 ET

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SAN FRANCISCO, June 8, 2023 /PRNewswire/ -- The global nerve repair and regeneration market size is expected to reach USD 20.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.16% from 2023 to 2030. Demand for neurological disorder therapies owing to the increasing incidence and rising awareness regarding the same will drive the market. Moreover, government funding and reimbursement policies and uninterrupted technological advances are projected to boost market growth.

Key Industry Insights & Findings from the report:

Read full market research report for more Insights, "Nerve Repair And Regeneration Market Size, Share & Trends Analysis Report By Surgery (Nerve Grafting, Neurorrhaphy), By Product (Biomaterials Neurostimulation & Neuromodulation Device), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Nerve Repair And Regeneration Market Growth & Trends

In January 2016, the EU Horizon 2020 program funded a research project 'Autostem', launched by the NUI Galway's Regenerative Medicine Institute (REMEDI), costing about USD 6.73 million. This project was to develop a robotic stem cell production factory, having an edge over the old traditional techniques. This technique offers prospects for new therapies for a range of diseases, such as cancers, diabetes, and arthritis. Increased R&D and investments by key companies in emerging countries are also driving the market. In July 2018, Stem Cells Australia (SCA) received USD 3 million for stem cell research from the Medical Research Future Fund (MRFF).

In addition, government and private funded organizations are conducting clinical trials to develop a safe and effective therapy for different neurological disorders, such as Stem Cells in Umbilical Blood Infusion for Cerebral Palsy (Phase II) and the usage of Polyethylene glycol (PEG) drug (Phase I) to promote axonal fusion technique to repair peripheral nerve injuries in humans.

Furthermore, in October 2017, Stryker Corporation acquired VEXIM, a France-based medical device company. VEXIM's portfolio is complementary to Stryker's Interventional Spine (IVS) portfolio. With this acquisition, Stryker will strengthen its distribution channels in Eastern Europe, the Middle East, Asia, and Latin America. In January 2018, Boston Scientific Corporation received U.S. FDA approval for the first and only Spectra WaveWriter spinal cord stimulator system. This system is used for paresthesia-based therapy.

Nerve Repair And Regeneration Market Segmentation

Grand View Research has segmented the global nerve repair and regeneration market on the basis of product, surgery, and region:

Nerve Repair and Regeneration Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

Nerve Repair and Regeneration Market - Surgery Outlook (Revenue, USD Million, 2018 - 2030)

Nerve Repair and Regeneration Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

List of Key Players of Nerve Repair and Regeneration Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: [email protected]Web: https://www.grandviewresearch.comGrand View Compass | Astra ESG SolutionsFollow Us: LinkedIn | Twitter

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SOURCE Grand View Research, Inc.