NEUROREGENERATION THERAPY MARKET ANALYSIS

Global neuroregeneration therapy market size is estimated to be valued at US$ 11.67 Bn in 2023, and is expected to reach US$ 26.61 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030. The rising prevalence of neurological disorders, increasing incidence of nerve injuries, growing geriatric population, and rising government support for neurological disorders studies are driving the growth of the market

Global neuroregeneration therapy market is segmented by type of neuroregeneration therapy, indication, mode of administration, age group, end user and region. By type of neuroregeneration therapy, the market is segmented into stem cell therapy, gene therapy, pharmacological therapy, neurostimulation therapy and others, out of which stem cell therapy accounts for the largest market share of the market in 2022. Neuroregeneration therapy are used to treat a variety of neurological disorders, including Parkinson's disease, epilepsy, and chronic pain.

Global Neuroregeneration Therapy Market- Regional Insights

• North America: North America is the largest market for neuroregeneration therapy, and accounted for a share of over 40.2% in 2022. North America has been a significant market for neuroregeneration therapy due to factors such as advanced healthcare infrastructure, high healthcare expenditure, and a large patient population with neurological disorders. The U.S., in particular, has a well-established market for neuroregeneration therapies, driven by robust research and development activities and a favorable regulatory environment.
• Europe: Europe is the second-largest market for neuroregeneration therapy, and accounted for a share of over 31.1% in 2022. Europe is another prominent market for neuroregeneration therapy. Countries like Germany, the U.K., and France have a strong presence in the field of medical research and development. The European Union has initiatives promoting neuroscience research and innovation, and thus, contributing to the growth of the neuroregeneration therapy market in the region.
• Asia Pacific: Asia Pacific is the fastest-growing market for neuroregeneration therapy, and accounted for a share of over 20.4% in 2022. The market for neuroregeneration therapy is anticipated to increase significantly in the Asia Pacific region. Countries such as Japan, China, and South Korea have been investing in neuroregenerative research, and are emerging as key players in the field. The region's large population, increasing healthcare spending, and rising prevalence of neurological disorders contribute to market growth.

Analyst View:

Over the next ten years, the global market for neuroregeneration therapy shows signs of positive growth. With advancements in biologics and regenerative medicine, more effective treatment options are becoming available to address neurodegenerative conditions. The growing geriatric population vulnerable to Alzheimer's, Parkinson's, and other such diseases boosts  demand for neuroregeneration therapies across major markets.

Figure 1. Global Neuroregeneration Therapy Market Share (%),By Region, 2023

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Global Neuroregeneration Therapy Market- Drivers

• Increasing Prevalence of Neurological Disorders: Rising incidence and prevalence of neurological disorders such as Alzheimer's disease, Parkinson's disease, multiple sclerosis, and spinal cord injuries are major drivers of the global neuroregeneration therapy market. As the global population ages and the burden of these disorders increases, there is a growing need for effective treatments to regenerate or repair damaged nervous tissue.
• Technological Advancements: Advances in technology play a crucial role in driving the neuroregeneration therapy market growth. Innovations in stem cell research, gene therapy, neurostimulation techniques, biomaterials, and imaging technologies have expanded the possibilities for neuroregeneration treatments. These advancements enable the development of novel therapies and improve their effectiveness.
• Growing Investment in Research and Development: There has been increasing investment in research and development activities focused on neuroregeneration therapies. Pharmaceutical companies, biotechnology firms, academic institutions, and government organizations are actively engaged in developing new treatments and technologies for neuroregeneration. This investment drives innovation and accelerates the translation of research findings into clinical applications.
• Favorable Regulatory Environment: A supportive regulatory environment can significantly impact the neuroregeneration therapy market. Regulatory agencies play a crucial role in evaluating the safety and efficacy of new therapies and granting approvals for their clinical use. A streamlined and efficient regulatory process can facilitate the development and commercialization of neuroregeneration therapies.
• Growing Patient Demand: The demand for effective treatments for neurological disorders is increasing among patients and their caregivers. There is a significant unmet medical need for therapies that can restore or improve neurological function. Patients and their families are actively seeking new treatment options, and thus, boosting demand for neuroregeneration therapies.

Global Neuroregeneration Therapy Market- Opportunities

• Stem Cell Therapies: Stem cell-based therapies hold immense potential for neuroregeneration. The ability of stem cells to differentiate into various cell types offers opportunities for repairing and replacing damaged neural tissue. Ongoing research in stem cell biology and the development of innovative stem cell-based approaches present opportunities for the advancement of neuroregeneration therapies.
• Gene Therapy: Gene therapy has the potential to address genetic causes of neurological disorders by introducing therapeutic genes into the affected cells. Advancements in gene editing technologies such as CRISPR-Cas9 offer opportunities for precise genetic modifications and targeted therapies. Gene therapy approaches that promote neuroregeneration and restore normal cellular function present significant opportunities for the treatment of neurological disorders.
• Neurostimulation Technologies: Neurostimulation techniques such as deep brain stimulation and spinal cord stimulation are effective in managing neurological disorders. Further advancements in neurostimulation technologies, including miniaturization, improved targeting, and closed-loop systems present opportunities for more precise and effective therapies. The development of novel neurostimulation devices and techniques could expand treatment options and improve patient outcomes.
• Personalized Medicine: The field of personalized medicine aims to tailor treatments to individual patients based on their unique characteristics such as genetics, biomarkers, and disease progression. In the context of neuroregeneration therapy, personalized medicine approaches could enable targeted therapies, optimize treatment strategies, and improve patient outcomes. The integration of biomarkers, genomics, imaging, and other technologies in treatment decision-making presents opportunities for personalized neuroregeneration therapies.

Global Neuroregeneration Therapy Market- Trends

• Gene Therapy Advancements: Gene therapy is gaining momentum as a promising approach in neuroregeneration. Researchers are investigating the use of gene editing technologies, such as CRISPR-Cas9, to correct genetic mutations associated with neurological disorders. The development of viral vectors for efficient gene delivery and advancements in gene editing techniques are important driving factor associated with gene therapy in neuroregeneration.
• Biomaterials and Tissue Engineering: Biomaterials and tissue engineering play a crucial role in neuroregeneration therapy. Researchers are developing novel biomaterials, such as scaffolds and hydrogels, to provide physical support and guide tissue regeneration. The integration of biomaterials with stem cells and growth factors is a growing trend in tissue engineering for neuroregeneration.
• Artificial Intelligence and Data Analytics: The application of artificial intelligence (AI) and data analytics is becoming increasingly important in neuroregeneration research and treatment. AI algorithms are used to analyze complex datasets, identify patterns, and predict treatment outcomes. Machine learning techniques are utilized for image analysis, disease modeling, and personalized treatment approaches, contributing to more precise and effective neuroregeneration therapies.
• Regulatory Environment: The regulatory landscape for neuroregeneration therapies is evolving. Regulatory agencies are working to establish guidelines and frameworks to ensure the safety and efficacy of emerging therapies. Streamlined regulatory processes and initiatives to expedite the approval of innovative therapies are trends that can facilitate the development and commercialization of neuroregeneration treatments.

Global Neuroregeneration Therapy Market- Restraints

• Complex Nature of Neurological Disorders: Neurological disorders are often complex and multifaceted, and thus, making it challenging to develop effective neuroregeneration therapies. The intricate nature of the nervous system, the heterogeneity of diseases, and the limited understanding of underlying mechanisms pose significant hurdles in identifying optimal treatment approaches.
• Safety and Efficacy Concerns: Ensuring the safety and efficacy of neuroregeneration therapies is of paramount importance. Clinical trials and regulatory approval processes require rigorous evaluation to establish the safety and effectiveness of novel therapies. Adverse events, long-term effects, and potential risks associated with neuroregeneration interventions need to be carefully addressed to gain regulatory approvals and market acceptance.
• Ethical and Legal Considerations: The field of neuroregeneration therapy raises ethical and legal considerations, especially in areas such as stem cell research and gene editing. Issues related to informed consent, the use of human embryos, and the potential for unintended consequences of genetic modifications require careful consideration and adherence to ethical guidelines.

Figure 2. Global Neuroregeneration Therapy Market Share (%),By Type of Neuroregeneration Therapy, 2023\

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Global Neuroregeneration Therapy Market- Recent Developments

Research and Development Activities

• NurOwn (BrainStorm Cell Therapeutics): NurOwn is an investigational autologous mesenchymal stem cell-based therapy for the treatment of neurodegenerative disorders such as amyotrophic lateral sclerosis (ALS). On October 24, 2023, BrainStorm Cell Therapeutics Inc., a leading developer of adult stem cell therapeutics for neurodegenerative diseases, announced a strategic realignment to accelerate development of NurOwn for the treatment of amyotrophic lateral sclerosis (ALS).
• Furthermore, the realignment is designed for various parameters mentioned below:
  • Support the company plans to conduct a double-blind, placebo-controlled Phase 3b U.S. clinical trial for NurOwn in ALS with an open-label extension and
  • Continue to publish data from NurOwn's Phase 3 clinical trial on: biomarkers, long-term safety and survival, and the Expanded Access Program, providing transparency around NurOwn data and progressing ALS drug development

• AAV-GAD gene therapy (MeiraGTx): MeiraGTx, a global clinical-stage gene therapy company, is developing an investigational gene therapy called AAV-GAD for the treatment of Parkinson's disease. For instance, in October 2022, MeiraGTx, LLC, a global clinical-stage gene therapy company, announced the initiation of clinical trial to study the safety and tolerability of adeno-associated virus (AAV)-mediated delivery of glutamic acid decarboxylase (GAD) gene transfer into the subthalamic nuclei (STN) of participants with Parkinson's Disease, which is currently in phase 2 of clinical trila and actively recruiting health volunteers
• On June 30, 2023, Ever Supreme Bio Technology Co., Ltd., a company that engages in the research, development, and sale of stem cell products, announced the initiation of clinical trial to study the safety and efficacy of repeat IV(Intravenous) and IT(Intrathecal) administrations of UMSC01 in patients with MS. While anti-inflammatory drugs are routinely used for the treatment of Multiple Sclerosis, which is currently in Phase 2 of clinical trial.

Collaboration and License Agreement

• Stem Pharm and Verge Genomics: On October 10, 2023, Stem Pharm Inc., a drug discovery platform company, and Verge Genomics, a biotechnology company transforming drug discovery using artificial intelligence (AI) and patient tissue data, announced a collaboration to develop a disease model to validate novel targets identified by Verge for Parkinson’s disease (PD)
• NeuroSense and QuantalX: On February 9, 2023, NeuroSense Therapeutics Ltd., a clinical-stage drug development company, and QuantalX Neuroscience Ltd, the developer of Delphi-MD, a clinically objective neurodiagnostic medical device, announced a collaboration to improve early diagnosis and treatment of neurodegenerative diseases
• Biogen and Sage Therapeutics: In November 2020, Biogen, a pharmaceutical company, and Sage Therapeutics, a biotechnology company, announced that both companies had entered into a collaboration and license agreement to develop and commercialize zuranolone (SAGE-217) for major depressive disorder (MDD), postpartum depression (PPD) and other psychiatric disorders and SAGE-324 for essential tremor and other neurological disorders. The collaboration and license agreement aims to combine Biogen's expertise in neuroscience with Sage Therapeutics' knowledge in developing therapies for CNS disorders.

Top companies in Global Neuroregeneration Therapy Market

• Biogen Inc.
• AstraZeneca PLC
• Pfizer Inc.
• Novartis International AG
• Merck & Co., Inc.
• Sanofi S.A.
• F. Hoffmann-La Roche Ltd.
• Medtronic plc
• Boston Scientific Corporation
• Abbott Laboratories
• Ceregene Inc.
• BioTime Inc.
• Stemedica Cell Technologies, Inc.
• StemCells Inc.
• Ever Supreme Bio Technology Co., Ltd.
• AbbVie

*Definition: Neuroregeneration therapy refers to the use of various treatments and techniques aimed at repairing or regenerating damaged neural tissue in the central nervous system. It involves approaches such as stem cell therapy, gene therapy, neurostimulation, and pharmacological interventions to restore neurological function, promote healing, and potentially alleviate symptoms of neurological disorders and injuries.