The size of the Asia Pacific nerve repair and regeneration market is projected to increase USD 3.18 billion by 2027 from USD 1.70 billion in 2022, growing at a CAGR of 13.35% between 2022 to 2027.
The aging population is significantly growing in Asia Pacific countries. They are vulnerable to neurological disorders and epidemic disorders, which is a key factor driving the market growth in this region. Approximately 86% to 87% of peripheral nerve injuries are caused due to trauma, and the rest are affected due to tumor and non-tumor relevant surgical procedures. Nearly 50 million people are affected by epilepsy, according to the World Health Organization (WHO).
Growing consciousness amid the patients and technological advancements are further providing a significant boost to the market to fly new growth heights. Measures taken by the governments of the Asia Pacific and the presence of innovative technologies are a big plus to the growth rate of the market. Favorable reimbursement policies, growing spending on R & D, and rising awareness are some of the factors secondary factors expanding the size of the Asia Pacific nerve repair and regeneration market.
The high costs associated with the nerve repair and regeneration treatment procedures are restraining the market to a considerable level. Lack of awareness among the people from rural areas, lack of physicians’ awareness regarding the treatment, and a deficit of experienced professionals hinder the market in APAC.
This research report on the Asia Pacific Nerve Repair and Regeneration Market has been segmented and sub-segmented into the following categories:
The Asia-Pacific is expected to grow rapidly in the coming years, as is evident from the high CAGR value for the region. In addition to having the highest growth rate, the region also has the third-highest market share. The rapid growth of the region can be attributed to the developing stature of countries such as India and China.
The Japanese nerve repair and regeneration market are estimated to dominate the Asia Pacific with the largest share during the forecast period. In countries like India and China, the market is projected to create tremendous opportunities, and the patient population is very high, which is escalating the market growth in this region. By 2030, around 4.94 million people in China will be affected by Parkinson’s disease, as per the estimation stated in PubMed. Moreover, in these two countries, healthcare expenses and a surge in the number of hospitals and ambulatory surgical centers are to propel the nerve repair and regeneration market in APAC during the assessment period. A growing number of patients with various health disorders and increasing scale of hospitals are being recorded with patients admissions, which accelerates the growth of the region's market. Boosting regular increase in advanced treatment procedures and the participation of stem cell assay remedies and paying attention to the enhancement of novel and innovative methods in repairing the damaged nerve functionalities are flourishing the growth of APAC's market.
Top Companies dominating the Asia Pacific Nerve Repair and Regeneration Market Profiled in the Report are Baxter International, AxoGen, Boston Scientific Incorporation, Integra Lifesciences Corporation, Cyberonics, Medtronic, Polyganics B.V., Orthomed S.A.S., Stryker Corporation, and St. Jude Medical.
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