The Latin America Nerve Repair and Regeneration Market was worth USD 0.87 billion in 2016 and estimated to be growing at a CAGR of 12.24%, to reach USD 1.54 billion by 2021.
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Nervous system injuries affect almost 100000 people every year with almost a 10th of this being spinal cord injuries. As a result of this high incidence of neurological injuries, nerve regeneration, and repair, a subfield of neural tissue engineering, is becoming a rapidly growing field dedicated to the discovery of new ways to recover nerve functionality after injury.
The nervous system consists of the central nervous system, which consists of the brain and spinal cord, and the peripheral nervous system, which consists of cranial and spinal nerves along with their associated ganglia. It is only the peripheral nervous system has an intrinsic ability for repair and regeneration, whereas the central nervous system is, for the most part, incapable of self-repair and regeneration.
This leaves it vulnerable and if any damage were to occur to it, there is currently no treatment for recovering human nerve function after injury to the central nervous system.
The major factors affecting the Latin America Nerve Repair and Regeneration Market include as mentioned before the high incidence of neurological injuries. Other major factors bolstering the nerve repair and regeneration market include favorable reimbursement policies, technological advancements, willingness to spend on research and development and increasing consumer awareness.
As for the restraints of the market, the exorbitant costs of the procedure continue to be the major deterrent along with the technical proficiency required from practitioners.
The Latin America Nerve Repair and Regeneration market is broadly classified into Internal Neurostimulation Devices such as Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electrical Stimulation and External Neurostimulation Devices such as Transcutaneous Electrical Nerve Stimulation and Transcranial Magnetic Simulation by Product, based on Application into Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Nerve Grafting and Stem Cell Therapy. Based on geography, the Latin America market is divided into Argentina, Brazil, and Mexico.
The Latin American region is one that offers immense scope for development in the forecast years as is evident from the high growth rate of the region. In spite of having only a minor market share, the CAGR of the region is the second highest globally only behind Asia-Pacific.
This market is one that shows promise in the coming years.
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The Latin America Nerve Repair and Regeneration market is highly competitive with a large number of players. Key market players dominating the market with their products and services are St.
Jude Medical, Cyberonics, Baxter International, Polyganics B.V., Boston Scientific Incorporation, Medtronic, Integra Lifesciences Corporation, AxoGen, Orthomed S.A.S., and Stryker Corporation.
- Internal Neurostimulation Devices
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Gastric Electrical Stimulation
- External Neurostimulation Devices
- Transcutaneous Electrical Nerve Stimulation
- Transcranial Magnetic Stimulation
- Y-o-Y Growth Analysis, By Product
- Market Attractiveness Analysis, By Product
- Market Share Analysis, By Product
- Neurostimulation and Neuromodulation Surgeries
- Direct Nerve Repair
- Nerve Grafting
- Stem Cell Therapy
- Y-o-Y Growth Analysis, By Application
- Market Attractiveness Analysis, By Application
- Market Share Analysis, By Application
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Scope of the report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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