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Nerve Repair and Regeneration Market

Nerve Repair and Regeneration Market

Nerve Repair and Regeneration Market Analysis By Product (Neurostimulation & Neuromodulation Devices and Biomaterials) By Application (Neurostimulation & Neuromodulation Surgeries, Neurorrhaphy, Nerve Grafting & Stem Cell Therapy) By End-User & Region – Insights 2022 to 2026

Nerve Repair and Regeneration Market
FACT7585MR
  • Aug-2022
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Nerve Repair and Regeneration Market Outlook (2022-2026)

The global nerve repair and regeneration market is projected to rise at a stellar CAGR of 11% from 2022 to 2026. Currently, the market is valued at US$ 8 billion and is anticipated to reach US$ 12 billion by the end of 2026.

Demand for neurostimulation and neuromodulation devices is expected to increase at 9.5% CAGR over the study period as a result of an increase in accidents and peripheral nerve injuries across the world.

Report Attributes

Details

Nerve Repair and Regeneration Market Size (2022)

US$ 8 Billion

Projected Market Value (2026)

US$ 12 Billion

Global Market Growth Rate (2022-2026)

11% CAGR

Market Share of Neurostimulation & Neuromodulation Devices

85%

Key Companies Profiled

  • Baxter
  • Polyganics B.V.
  • Nevro
  • Stryker
  • Abbott Laboratories
  • AxoGen, Inc.
  • Boston Scientific Corporation
  • Integra LifeSciences Corporation
  • LivaNova, PLC
  • Medtronic plc
  • NeuroPace, Inc.
  • Synapse Biomedical Inc.
  • Synovis Micro Companies Alliance, Inc.

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Demand Analysis of Nerve Repair and Regeneration Products (2017-2021) Vs. Market Outlook (2022-2026)

“Increasing Prevalence of Neurological Illnesses Driving Demand for Nerve Repair and Regeneration Solutions”

According to Fact.MR, a market research and competitive intelligence provider, sales of nerve repair and regeneration devices are projected to rise at a prolific CAGR of 11% from 2022 to 2026.

The process of repairing neural tissues and cells is known as nerve repair and regeneration. It helps repair nerve injury, which is typically brought on by pressure, harsh trauma, stretching, or cutting a nerve, and restores its normal functioning. The brain, spinal cord, and peripheral nerves make up the nervous system, which also connects the brain and spinal cord to the skin and muscles of the body.

In motor vehicle accidents, either blunt trauma, such as the impact from a fall or traction injury, or acute trauma, such as a knife cut, can injure the nerves. Nerve damage can halt impulses going to and coming from the brain. The communication between the brain and muscles and organs can be hampered by these nerves' fragility and susceptibility to injury.

Exploring the wounded nerve and removing damaged tissue from the nerve endings are both steps in surgical nerve repair. Through surgical procedures, products for nerve cell regeneration are employed to get the nerves back to working normally. The main growth drivers of the peripheral nerve regeneration market are neurological illnesses and the rapidly rising prevalence of peripheral nerve injuries.

Demand for products that enhance neuroregeneration is increasing as the frequency of nerve injuries rises. Demand for nerve repair and regeneration technologies is also being driven by the rising prevalence of chronic nervous system illnesses including Parkinson's and Alzheimer's disease.

Additionally, funding for clinical studies to identify efficient and secure treatments for a range of neurological illnesses has increased.

Nerve repair and regeneration market forecast by Fact.MR

Which Key Market Trends are Augmenting Sales of Nerve Repair and Regeneration Devices?

“Continuous Development of Neurostimulation and Neuromodulation Technologies”

There is a considerable need for regeneration and repair in the nervous system due to the rising frequency of neurological illnesses and a large number of occurrences of nerve injury. The market is expanding as a result of the sizable elderly population base and the enormous frequency and incidence of nerve-related diseases among them.

The development of neurostimulation and neuromodulation technologies, corporate partnerships to introduce cutting-edge goods, and the arrival of the latest technologies are driving the market expansion.

Technological advancements in the medical field have opened up new opportunities in the nerve repair and regeneration market to expand. Intraocular lenses (IOLs) are one improvement that is assisting the eye care sector to thrive and increase tremendously.

With the aid of new technologies and optic nerve disorders drugs, several eye diseases and disorders can be effectively and efficiently treated. This might further accelerate the expansion of the optic nerve regeneration market.

Many patients have benefited from recent developments in adipose tissue identification and functional analysis, as well as surgical correction by bone grafting. Additionally, biotechnology innovations in vision restoration have brought about a new age in medicine.

The spinal nerve regeneration market will consequently exhibit high growth over the coming years.

An Adaptive Approach to Modern-day Research Needs

Which Factors are Limiting Nerve Repair and Regeneration Market Growth?

“Lack of Trained Healthcare Professionals & High Price of Nerve Repair and Regeneration Devices”

On a global basis, there is a significant shortage of trained healthcare professionals. According to the World Health Organization, roughly 25% of health professionals in employment today lack the required credentials.

There is a shortage of people with digital skills, which further limits their ability to manage nerve repair and regeneration technology as the demand for healthcare services increases and the sector adopts new technologies.

The high price of nerve repair and regeneration devices and operations, as well as strict rules and regulations governing the approval of new medications, are major factors limiting the growth of the market for nerve repair and regeneration.

What Could Start-ups Do to Boost Their Business Potential?

“Emerging Market Participants Concentrating on Introduction of New Products to Improve Health after Nerve Injury”

New companies are concentrating on the development and commercialization of implantable solutions to enhance the effectiveness of peripheral nerve restoration surgeries.

New market entrants are engaged in introducing nerve regeneration supplements and nerve repair medicines to speed up healing and improve health after nerve injury.

  • Renerva is an innovative medical device start-up based in the U.S. that joined Cornell University's McGovern Center life sciences business. Renerva is developing an over-the-counter nerve transplant product that could prevent individuals from suffering from permanent disability and improving an injectable gel to speed up the regeneration of damaged nerves.

Which Region Exhibits Attractive Opportunities for Nerve Repair and Regeneration Product Suppliers?

“Accessibility of Technologically Advanced Equipment in North America”

The market for nerve repair and regeneration is expanding at a significant rate in North America. Increasing incidence of neurological illnesses, ageing population, rising healthcare spending, favorable reimbursement system, and presence of several major industry participants are driving market growth in North America.

The accessibility of technologically advanced equipment, growing patient awareness about techniques for nerve regeneration and repair, and favorable health insurance coverage environment are factors fueling market expansion in the region.

Country-wise Insights

How is the Market for Nerve Repair and Regeneration Evolving in the U.S.?

“Rising Government Initiatives Regarding Treatment of Neurological Disease in the U.S.”

An important element in the growth of the market in the U.S is the rising investments by key market players in technological innovation of devices. The demand for nerve repair and regeneration treatments in the U.S. is most expected to increase due to the rapid expansion of the healthcare industry.

Additional factors contributing to the market expansion include growing government activities and funding for rare neurological disease treatments as well as an increase in neurological illnesses such as dementia, Alzheimer's disease, and Parkinson's disease.

Why is China a Lucrative Market for Nerve Repair and Regeneration Products?

“Supportive Healthcare Policies to Drive Market Expansion in China”

The China nerve repair and regeneration market is projected to increase at a CAGR of 12% from 2022 to 2026. The market in China is anticipated to expand quickly because of the large patient population and supportive healthcare policies.

The market is anticipated to benefit from a noticeable increase in the number of people who are getting older, growing awareness about neurological illnesses, and rising rates of cancer and osteoporosis.

Category-wise Insights

Which Nerve Repair and Regeneration Product is Most Widely Used?

“Neurostimulation & Neuromodulation Devices Gaining Traction to Reduce Postoperative Complications”

Based on product, the nerve repair and regeneration market is classified into neurostimulation & neuromodulation devices and biomaterials.

Neurostimulation & neuromodulation devices account for 85% share of the global market. The increasing prevalence of peripheral nerve injuries, the creation of technologically advanced products, growing public awareness of mental illnesses and their treatments, and attractive reimbursement policies are expected to increase the demand for neurostimulation and neuromodulation devices.

Internal neurostimulation and neuromodulation devices are the segment's fastest-growing product category because they can shorten hospital stays and reduce postoperative complications. Increasing investments by major firms to create more efficient neurostimulation and neuromodulation devices are projected to drive market growth.

Which Application of Nerve Repair and Regeneration Drives High Market Growth?

“Constant Clinical Trials for Use Of Stem Cell-based Therapeutics in Nerve Repair and Regeneration”

The nerve repair and regeneration market is categorized into neurostimulation & neuromodulation surgeries, neurorrhaphy, nerve grafting, and stem cell therapy based on application.

Stem cell therapy is widely preferred for nerve repair and regeneration. The demand for stem cell therapies is anticipated to be fueled by the government's increasing support for research and development as well as its approval of biomaterial products.

The use of stem cell therapies has grown as brain and spinal cord injuries, neurodegeneration, frailty syndrome, and cardiac disorders have all increased. A major reason for the growth and development of therapies is the increasing investments made by businesses and academic institutions in the R&D of stem cell therapies.

Several research institutions, academic institutions, and businesses are also engaged in numerous clinical trials for the use of stem cell-based therapeutics in nerve repair and regeneration.

Why are Hospitals the Most Widely Proffered Centers for Nerve Repair and Regeneration Procedures?

“Wide Availability of Advanced Nerve Repair and Regeneration Devices in Hospitals”

Based on end user, the nerve repair and regeneration market is segmented into hospitals, clinics, and ambulatory surgery centers.

Patients are increasingly choosing hospitals for their medical care, which promotes market expansion and enhances the availability of the latest equipment and trained professionals in hospitals. To provide patients with the finest care, hospitals have a variety of equipment for nerve repair.

Demand for hospitalized nervous system therapies has also increased as a result of the healthcare industry's continued growth and the availability of additional hospitals on the market. The need for healthcare services rises as a result of hospitals having more modern infrastructure, which in turn drives the market for nerve regeneration and repair.

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Competitive Landscape

Companies supplying nerve repair and regeneration equipment have a wide product pipeline for neurological illnesses. To increase treatment effectiveness, and hence increase market share, market participants are offering advanced products.

For instance :

  • In 2021, Orthocell Ltd. revealed that its CelGro collagen medical device platform for soft tissue regeneration applications was granted patents in New Zealand and China. Orthocell wants to improve its position regarding intellectual property by doing this.

Key Segments in Nerve Repair and Regeneration Industry Research

  • By Product :

    • Neurostimulation & Neuromodulation Devices
    • Biomaterials
  • By Application :

    • Neurostimulation & Neuromodulation Surgeries
    • Neurorrhaphy
    • Nerve Grafting
    • Stem Cell Therapy
  • By End User :

    • Hospitals
    • Clinics
    • Ambulatory Surgery Centers
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global nerve repair and regeneration market is valued at US$ 8 billion.
Sales of nerve repair and regeneration devices are set to increase at 11% CAGR through 2026.
The market in Japan is set to rise at 8% CAGR through 2026.
Neurostimulation & neuromodulation devices account for 85% share of the global market.
The nerve repair and regeneration market is predicted to reach US$ 12 billion by 2026.
Baxter, Polyganics B.V., and Nevro are the key nerve repair and regeneration product providers.

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