The total size of the nerve repair and regeneration market was USD 6.2 billion in 2021, which will reach USD 17.47 billion by 2030, powering at a rate of 12.2% in the years to come, as stated by a report published by P&S Intelligence.
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Neurostimulation/neuromodulation devices dominated the industry, with more than 64%. It has a lot to do with the growing count of commercialized SCS products, itself because of the increase in the number of people suffering from injuries related to spinal cord injuries.
Also, the increasing count of applications, tech progressions, and biocompatibility of these devices is driving the size of the category.
Additionally, the growing government funding for the innovation of products and the availability of advantageous reimbursement policies in advanced nations will play a major role in the future.
APAC will have the fastest growth in the future, of more than 13%, in the future, owing to the growing cases of epilepsy, Parkinson’s, Alzheimer’s, and essential tremors; increasing healthcare outlay, and rising geriatric population.
In addition, the acceptance of innovative technologies for the treatment of these diseases is driving regional development. In APAC, the acceptance of nerve regeneration and repair therapies in China, India, and Japan is on a rapid rise because of an increase in the rate of healthcare infra development, and the employment of all the new technologies in these nations.
The increasing number of traumatic brain injuries all over the world has much to do with the increasing demand for nerve repair and regeneration, in the years to come.
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