In a recently published report, Nerve Repair and Regeneration Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nerve Repair and Regeneration Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Nerve Repair and Regeneration Market is valued approximately at USD 5.72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.15% over the forecast period 2020-2027. Nerve Repair and Regeneration deals with the regrowth of nervous tissues, cell and cell products. The mechanism for this process includes generation of new neurons, synapses, axons, glia and myelin. The susceptibility of the complex, delicate structure namely, Brain, Spinal Cord and Peripheral nerves to numerous nervous injuries which range from trauma to neurodegenerative diseases such as Parkinson’s diseases, Alzheimer’s Disease and Amyotrophic lateral sclerosis. The increasing prevalence of these diseases drives the market growth.
For Instance: As per Alzheimer’s Association the global population above 65 years of age suffering from Alzheimer’s is expected to reach 13.8 million by 2050 up from 5.8 million in 2020(estimated). While, in 2018 people affected by Parkinson’s in UK reached 145,519 and is projected to cross 168,000 by 2025. Furthermore, increasing geriatric population, and rising government support for neurologic disorders fuel the market growth. However, stringent approval regulations impede the growth of the market over the forecast period of 2020-2027. Although, tremendous research in order to develop new techniques presents a lucrative opportunity for the market.
The regional analysis of global Nerve Repair and Regeneration market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing awareness about the treatment and well-established healthcare infrastructure in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising geriatric population and growing prevalence of neurological disorders would create lucrative growth prospects for the Nerve Repair and Regeneration market across Asia-Pacific region.
Major market player included in this report are:
Boston Scientific Corporation
Baxter International, Inc.
Soterix Medical, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Vagus Nerve Stimulation
Sacral Nerve Stimulation
Spinal Cord Stimulation
Stem Cell Therapy
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Nerve Repair and Regeneration Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
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