The global Neuroregeneration Therapy Market is estimated to be valued at US$ 11.67 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Neuroregeneration therapy products aim to repair or replace damaged neurons. These products include stem cell therapy, nerve guidance channels, and nerve grafting. Stem cell therapy offers hope for regenerating brain and nervous system cells after injury or disease by stimulating the growth of new brain cells.
Market key trends:
One of the major trends in the neuroregeneration therapy market is the increasing adoption of stem cell therapy. Stem cell therapy uses stem cells derived from sources like adipose tissue, cord blood, embryonic, and neural stem cells with an aim to restore or repair damaged tissues or cells of the nervous system. Stem cells have the potential to differentiate into mature, specialized cells and thus play a key role in therapeutic approaches for regeneration of nervous tissues. Stem cell therapy is gaining significance due to its potential for treating neurological disorders like Alzheimer's disease, Parkinson's disease, spinal cord injury, and stroke. Rising investment in R&D of stem cell therapy and its promising results in clinical trials are fueling the growth of this segment in the neuroregeneration therapy market.
Segment Analysis
The global neuroregeneration therapy market is segmented into application and end user. Based on application, the market is segmented into Parkinson's disease, spinal cord injuries, Alzheimer's disease, stroke and other applications. The Parkinson's disease segment is dominating the market with around 30% market share as it is the second most common neurodegenerative disease globally.
Key Takeaways
The global Neuroregeneration Therapy Market Share is expected to witness high growth, exhibiting CAGR of 12.% over the forecast period, due to increasing prevalence of neurodegenerative disorders.
Regional analysis
North America is projected to account for the largest share in the neuroregeneration therapy market during the forecast period. This is attributed to rising prevalence of neurodegenerative disorders and presence of major players in the region.
Key players
Key players operating in the neuroregeneration therapy market are 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., Neuralstem, Inc., and StemCells Inc.
The global neuroregeneration therapy market size for 2023 is US$ 11.67 Bn. The market is expected to grow at a CAGR of 12.% during the forecast period of 2023 to 2030.
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https://www.insightprobing.com/neuroregeneration-therapy-market-trends-size-and-share-analysis/
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