The surging prevalence of neurological diseases such as fecal incontinence, depression, epilepsy, Alzheimer’s, and Parkin-son’s is one of the major factors responsible for the soaring uti-lization of nerve repair and regeneration devices throughout the globe. As per the Alzheimer’s Association, in 2015, almost 5.3 million people in the age group of 65 and above in the U.S. were found to suffer from Alzheimer’s disease and this number is predicted to rise to 7.1 million by 2025. As per the Parkin-son’s Disease Foundation (PDF), nearly 7—10 million people are suffering from Parkinson’s Disease across the world.
The other major factor contributing toward the increasing sales of neuromodulation and neurostimulation devices is the in-creasing incidence of chronic pain in people all around the world. As per the American Academy of Pain Medicine publica-tion, almost 100 million people in the U.S. suffer from some kind of chronic pain. Additionally, according to the Internation-al Association for the Study of Pain (IASP), which is a non-profit organization focussing on research on pain and patient care improvement, almost 2.8% of the total diabetic population in the world were found to suffer from peripheral neuropathic pain (PNP) in 2000.
Due to the above-mentioned factors, the global nerve repair and regeneration market is expected to register tremendous growth over the next several years. The most widely used nerve regeneration and repair devices in healthcare settings all over the world are neuromodulation and neurostimulation de-vices (internal neurostimulation and external neurostimulation devices) and biomaterials (nerve protectors, nerve wraps, nerve connectors, and nerve conduits). Of these two products, the neurostimulation and neuromodulation devices recorded huge sales over the last few years.
Globally, North America registered the highest sales of nerve regeneration and repair devices in the last few years. In North America, the U.S. observed the highest utilization of these de-vices during the past few years, mainly because of the rising prevalence of peripheral nerve injuries and the existence of technologically innovative products and their huge adoption in various healthcare procedures in the region. However, the nerve repair and regeneration market is expected to regis-ter major growth in Asia-Pacific (APAC) in the upcoming years.
Therefore, it can be said with full confidence that the demand for nerve repair and regeneration devices will surge across the world in the coming years, primarily due to the increasing inci-dence of chronic pain and neurological diseases all over the world.
Read more: https://www.psmarketresearch.com/market-analysis/nerve-repair-and-regeneration-market
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