NERVE REPAIR AND REGENERATION MARKET ANALYSIS

Nerve Repair And Regeneration MarketSize and Trends

Market Trends:-

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.