Neuroregeneration Therapy Market Growth Accelerated by Increasing Incidences of Neurological Disorders

Niranjan Mardakar

Neuroregeneration Therapy Market Growth Accelerated by Increasing Incidences of Neurological Disorders

The neuroregeneration therapy market involves therapies and treatments to restore damaged neuronal cells and tissues, addressing various neurological disorders such as Alzheimer’s disease, Parkinson’s disease, and spinal cord injury. Neuroregeneration therapies offer effective treatment for damaged nerves by utilizing stem cell therapy, neurostimulation, and gene therapy to restore lost connections and promote regeneration of damaged tissues and cells. The global neuroregeneration therapy market is estimated to be valued at US$ 13.45 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing incidences of neurological disorders is anticipated to drive the growth of the Global Neuroregeneration Therapy Market Size over the forecast period. According to Centers for Disease Control and Prevention (CDC), approximately 50 million Americans are affected by neurological disorders. Promising clinical results of neuroregeneration therapies in treating neurological disorders have increased the demand for innovative therapies across the globe. The availability of various options for neuroregeneration therapies including stem cell therapy and gene therapy aid in effective regeneration of damaged neurons and tissues, thus accelerating the market growth. However, high cost associated with neuroregeneration therapies and lengthy approval process for clinical adoption of novel therapies may hamper the market growth during the forecast period.

Segment Analysis

The global neuroregeneration therapy market is dominated by central nervous system segment as it holds the largest share. The central nervous system segment accounts for over 65% share due to the increasing prevalence of central nervous system disorders such as Parkinson’s disease, Alzheimer's disease, spinal cord injury and multiple sclerosis.

Key Takeaways

The global neuroregeneration therapy market is expected to witness high growth. The market size is projected to reach US$ 13.45 Bn in 2024 with a CAGR of 16% during the forecast period of 2024 to 2031.

Regional analysis: The North American region presently dominates the global neuroregeneration therapy market. The large share is attributed to growing geriatric population, presence of advanced healthcare infrastructure and increasing research and development activities. However, the Asia Pacific region is anticipated to witness the fastest CAGR over the forecast period owing to rising healthcare expenditure, growing middle class population and increasing incidences of neurodegenerative diseases.

Key players operating in the neuroregeneration therapy market are Boeing, General Atomics, Israel Aerospace Industries Ltd, Northrop Grumman and Lockheed Martin Corporation. Boeing is focusing on collaboration to advance neuroregeneration research. Similarly, General Atomics is investing in neuroscience technologies to drive clinical translations.

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Niranjan Mardakar

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