Nerve Repair And Regeneration Market Size & Trends
The global Nerve Repair and Regeneration Market Size was valued at $6.6 billion in 2020 and is projected to reach $12.3 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. Nerve repair, also known as neuroregeneration, is defined as the repair or regrowth of nervous tissues, and cells through the generation of new neurons, axons, synapses, and myelin.
Nerve repair and regeneration offers products such as neurostimulation, neuromodulator, and biomaterial devices. These devices are used to treat traumatic or neurodegenerative disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis, multiple sclerosis, and multiple system atrophy. The brain, spinal cord, and peripheral nerves are fragile in nature & easily damaged, and hence can interfere with the brain's ability to communicate with muscles and organs. Nerve repair and regeneration products repair these damages.
The key factors that drives nerve repair and regeneration market growth are an increase in the prevalence of neurological & epidemic disorders. According to the journal The Lancet Global Health published in July 2021, it was reported that around 50 million people suffer from epilepsy, globally. As per the same source, it was also reported that around 10-12 million people are diagnosed with epilepsy, in India. An increase in the geriatric population boosts the need for nerve repair and regeneration therapy and drives the growth of the market. According to World Population Ageing, it was observed that approximately 727 million people are aged 65 years or above. In addition, the increase in the number of product launches of innovative products for nerve repair & regeneration drives the market. For instance, in March 2020, Abbott, a pharmaceutical company, announced the launch of a neurosphere virtual clinic, which is the first-of-its-kind remote neuromodulation patient-care technology in the U.S.
The nerve repair and regeneration market opportunity are increased as in developing countries; the expenditure on healthcare is on a continuous rise. The surge in awareness for the use of nerve repair and regeneration devices to manage conditions, such as Alzheimer's disease, Parkinson's disease, and other neurological disorders globally, is expected to promote market growth. Furthermore, a rise in awareness among people about clinical treatments such as immune response & neuroregeneration, spinal cord repair, peripheral nerve regeneration &repair, and nerve cell regrowth is anticipated to expand the nerve repair and regeneration market.
High cost associated with the devices such as neurostimulator devices, the procedure, and dearth of skilled professionals for the utilization of devices is expected to restrict the Nerve Regeneration Market growth during the forecast period.
The nerve repair and regeneration market is segmented on the basis of surgery, product, and region. By surgery, the market is classified into direct neuropathy, nerve grafting, stem cell therapy, and neuromodulation surgery. The direct neuropathy segment is further sub-categorized into epineural repair and perineural repair, and group fascicular repair. The nerve grafting is further sub-categorized into autografts, allografts, and xenografts. The neuromodulation surgery is further sub-categorized into external neuromodulation surgery and internal neuromodulation surgery. By product, the Nerve Repair and Regeneration Industry is divided into biomaterials and neuromodulation surgery devices. The biomaterials segment is further sub-categorized into nerve conduits, nerve protectors, nerve wraps, and nerve connectors. The neuromodulation surgery devices segment is further sub-categorized into external neuromodulation surgery and internal neuromodulation surgery. External neuromodulation surgery is further segmented into transcutaneous electrical nerve stimulation and transcranial magnetic stimulation. Internal neuromodulation surgery is divided into spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, and others. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
By Surgery
By surgery, the neuromodulation surgery segment was the highest contributor owing to an increase in a number of product approvals, and the rise in awareness of the benefits of using external neuromodulators is anticipated to boost the market growth. However, the direct nuropathy segment is expected to witness considerable growth during the forecast period.
By Product
Depending on the product, the neuromodulation surgery devices segment was the highest contributor owing to the rise in consumer awareness among consumers about nerve repair and innovative technological advancements in the healthcare sector. However, the Biomaterials segment is expected to witness considerable growth during the forecast period.
By Region
Region-wise, North America dominated the nerve repair and regeneration market share, in 2020, and is expected to be dominant during the forecast period, owing to a rise in the prevalence of neurodegenerative & neurodevelopmental diseases, stroke, and traumatic brain injuries; an increase in the adoption of advanced healthcare infrastructure; and rise in patient awareness about nerve repair and regeneration modalities.
However, Asia Pacific is expected to register the highest CAGR of 7.5 from 2021 to 2030, owing to an increase in the target population base, rising awareness among patients, supportive government initiatives, the presence of unmet medical needs, and the advent of innovative technologies are the major factor drives the growth of the nerve repair and regeneration industry.
The major companies profiled in this report include Abbott Laboratories, AxoGen Inc., Boston Scientific Incorporation, Integra Lifesciences Corporation, Medtronic plc, NeuroPace, Inc., NeuroSigma, Polyganics B.V., Stryker Corporation, Synovis Micro Companies Alliance, Inc
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nerve repair and regeneration market analysis from 2020 to 2030 to identify the prevailing nerve repair and regeneration market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the nerve repair and regeneration market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global nerve repair and regeneration market trends, key players, market segments, application areas, and market growth strategies.
Nerve Repair and Regeneration Market Report Highlights
| Aspects | Details |
 By Product |
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 By Surgery |
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 By Region |
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 Key Market Players | OrthoMed, Inc, Polyganics, Boston scientific inc, Stryker Corporation, Integra Lifesciences Corporation, Abbott Laboratories, Axogenic, Medtronic plc, Synovis Micro Companies Alliance, Checkpoint Surgical |
Analyst Review
This section provides opinions of the top-level CXOs operating in the global nerve repair and regeneration market. According to the insights of the CXOs, the global nerve repair and regeneration market is expected to exhibit high growth potential attributable to factors such as a rise in R&D activities in the pharmaceutical industry for manufacturing of nerve repair ®eneration devices, an increase in the prevalence of the neurological disorder, and surge in a number of approvals by the U.S. Food and Drug Administration (FDA) for neuromodulator. The market has gained traction among healthcare providers owing to several benefits offered by these devices to treat neurological disorders and improve the quality of life of the patients. There have been significant technological advancements in these devices to provide advanced treatment options to manage symptoms of neurological disorders. As the market is nascent and growing at a steady rate in developed nations, the Asia-Pacific and LAMEA regions are expected to offer high growth opportunities to the key players
The total market value of Nerve Repair and RegenerationMarket is $12.3 billion in 2020
The market value of the Nerve Repair and Regeneration Market in 2020 s $6.6 billion?
The major factors that enhance the market growth are an increase in the geriatric population, the rise in the incidence of neurological & epidemic disorders, and the launch of innovative products for nerve repair & regeneration. However, stringent regulatory requirements delay product approvals, thereby restraining the market growth
North America is the largest regional market for Nerve Repair and Regeneration
Abbott Laboratories, AxoGen Inc., Boston Scientific Incorporation, Integra Lifesciences Corporation, Medtronic plc are the top companies to hold the market share in Nerve Repair and Regeneration
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