Nerve Repair and Regeneration Market Size, Share Report 2028
The nerve repair & regeneration market is projected to reach US$ 12,514.06 million by 2028 from US$ 6,607.71 million in 2021; it is expected to grow at a CAGR of 9.7% from 2022 to 2028.
Nerves, along with the brain and spinal cord, are the foundation of the nervous system. Nerve repair is a method that involves the exploration of the injured nerve and removal of injured tissue or scar from the nerve endings. At the same time, nerve regeneration refers to the regrowth or repair of nervous tissues, cells, or products. The regeneration mechanism may include the generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products, including neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
The nerve repair & regeneration market is segmented based on product, application, and geography. By geography, the nerve repair & regeneration market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the market, emphasizing parameters such as market trends, technological advancements, market dynamics, and the competitive landscape of the world’s leading market players.
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Nerve Repair & Regeneration Market: Strategic Insights
Nerve Repair & Regeneration Market
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CAGR (2021 - 2028)
9.7%
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Market Size 2021
US$ 6.61 Billion
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Market Size 2028
US$ 12.51 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Axogen Corporation
- Boston Scientific Corporation
- Integra LifeSciences
- Medtronic
- Abbott Laboratories
- Stryker Corporation
- Neuronetics
- LivaNova PLC
- Baxter
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product
- Neurostimulation & Neuromodulation Devices
- Biomaterials
Application
- Neurostimulation & Neuromodulation Applications
- Nerve Repair & Regeneration Applications
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Nerve Repair & Regeneration Market: Strategic Insights
-
CAGR (2021 - 2028)9.7% -
Market Size 2021
US$ 6.61 Billion -
Market Size 2028
US$ 12.51 Billion
Market Dynamics
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- XXXXXXX
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Key Players
- Axogen Corporation
- Boston Scientific Corporation
- Integra LifeSciences
- Medtronic
- Abbott Laboratories
- Stryker Corporation
- Neuronetics
- LivaNova PLC
- Baxter
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Neurostimulation & Neuromodulation Devices
- Biomaterials
- Neurostimulation & Neuromodulation Applications
- Nerve Repair & Regeneration Applications
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growing Incidence of Nerve Injuries Drives Nerve Repair & Regeneration Market Growth
Nerve injuries are widespread and may have severe implications for the patient. Most nerve injuries result from either chronic cumulative trauma or acute injury. According to the National Center for Biotechnology Information, traumatic brain injury (TBI) may result from trauma ranging from a simple blow to the head to a penetrating injury to the brain. Furthermore, as per the same source in the US, around 1.7 million people suffer a traumatic brain injury, with adolescents between ages 15 & 19 and adults aged 65 & older among the more likely to sustain a traumatic brain injury in 2019.
Neurological disorders such as Parkinson's disease, dementia, epilepsy and seizures, autism, brain tumors, and cerebral palsy, Alzheimer's disease, among others, affect the brain and nerves of the human body. In the US, the prevalence of neurological disorders is increasing. According to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is one of the top 10 leading causes of death in the US. In 2020, Alzheimer's disease affected 5.8 million people in the US. Similarly, according to the Parkinson's Foundation Prevalence Project, it was estimated that 930,000 individuals with Parkinson's Disease present in the US by 2020.
Dementia is currently the seventh leading cause of death among all diseases and one of the leading causes of disability and addiction in older people worldwide. According to the WHO, more than 55 million people live with dementia worldwide, with nearly 10 million new cases yearly. Dementia is caused by various diseases and injuries that primarily or secondarily affect the brain. Alzheimer's is the most common form of dementia and may contribute to 60–70% of cases. Thus, the growing incidence of nerve injuries and the high prevalence of neurological disorders is expected to drive the nerve repair & regeneration market during the forecast period.
Growing Geriatric Population Contributes Significantly to Market Growth
Some neurologic disorders such as neuropathy, Alzheimer's disease, Parkinson's disease, and strokes are more common in the elderly, and their prevalence increases with higher life expectancies. According to the WHO, the population is aging rapidly worldwide. Between 2015 and 2050, the world's population over 60 years will nearly double, from 12% to 22%, and mental and neurological disorders among older adults are likely to account for 6.6% of the total disability-adjusted life year (DALYs) for this age group. Also, as per the same source, approximately 15% of adults aged 60 and over have a mental disorder.
According to the Centers for Disease Control and Prevention (CDC), Alzheimer's is the fifth leading cause of death in people 65 years and above. Also, the number of people living with Alzheimer's disease doubles every five years. Moreover, in 2020, Alzheimer's disease affected approximately 5.8 million Americans aged 65 years and above, and by 2060, this number is expected to nearly triple, accounting for 14 million people in the US.
The death rate due to neurological disorders is also increasing. For instance, according to the Alzheimer's Association, 1 in 3 seniors dies with Alzheimer's or dementia.
Therefore, the rising prevalence of age-associated neurological disorders increases the demand for treatment of nerve repair & regeneration. This factor is propelling the growth of the nerve repair & regeneration market.
Product Insights
Based on product, the global nerve repair & regeneration market is segmented into neurostimulation & neuromodulation devices and biomaterials. In 2021, the neurostimulation & neuromodulation devices segment held the largest share of the market. However, the market for the biomaterials segment is expected to grow at the highest CAGR during 2022–2028. Biomaterials for regenerating the central nervous system (CNS) and peripheral nervous system (PNS) have been well developed. These materials are widely used as nerve repair membranes and nerve conduits in PNS repair. Biomaterials facilitate tissue repair and act as cellular and pharmacological treatment carriers. According to the National Library of Medicine, 2020, about 87% of PNS are due to trauma cases. According to the University of Birmingham, about 130,000 new cases are reported with spinal cord injury globally every year. All these factors are expected to drive the biomaterials segment. Biomaterials are segmented into nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
Application Insights
Based on application, the nerve repair & regeneration market is segmented into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration segment is subsegmented as direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy. The nerve repair & regeneration segment held the largest market share in 2021. However, neurostimulation & neuromodulation applications are expected to be the largest shareholder in the market by 2028 due to the rapid evolution in neurotechnology and emerging promising therapies for various neurological disorders.
Product launches and mergers and acquisitions are the highly adopted strategies by the players operating in the global Nerve repair & regeneration market. A few of the recent key product developments are listed below:
- In February 2022, Stryker announced that it had completed the acquisition of Vocera Communications, Inc., a digital care coordination and communication leader. Vocera brings a highly complementary and innovative portfolio to Stryker’s Medical division that will enhance the company’s Advanced Digital Healthcare offerings and further advance Stryker’s focus on preventing adverse events throughout the continuum of care.
- In January 2020, Medtronic plc announced it acquired Stimgenics, LLC, a privately-held company based in Bloomington, Illinois, that has pioneered a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation. The therapy, delivered via the Medtronic Intellis platform, is a new and unique programming option to treat patients with chronic pain.
Nerve Repair and Regeneration Market Report Scope
Report Attribute | Details |
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Market size in 2021 | US$ 6.61 Billion |
Market Size by 2028 | US$ 12.51 Billion |
Global CAGR (2021 - 2028) | 9.7% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Product
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The COVID-19 pandemic had a mixed impact on the nerve repair & regeneration market. In the first quarter of 2020, the lockdown restrictions limited the nerve injury cases, due to which there had been a reduction in the demand for biomaterials for nerve repair surgical procedures. Vehicular accidents are the most common cause of peripheral nerve injuries, but during the lockdown, nerve injuries were less owing to limited movement. However, the U.S. Department of Health & Human Services reported that in 2020, a nearly 17 percent increase was observed in deaths from accidents or unintentional injuries in the United States after the lockdown was lifted. It also reported that accidents were the 4th leading cause of death in 2020, with only 150,000 deaths below COVID-19 deaths. These deaths were observed because of the delays in the surgical procedures for accidental cases owing to the COVID-19 safety protocols. Furthermore, after the first quarter of 2020, the market saw growth at an average rate due to the rising treatment and surgical procedures for nerve injuries.
Based on geography, the global nerve repair & regeneration market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The nerve repair & regeneration market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.
Few companies in the global nerve repair & regeneration market are Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global nerve repair & regeneration market on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and the South & Central America. In 2021, North America held the largest market share. However, Asia Pacific region is estimated to grow at the fastest CAGR of 10.2% during the forecast period.
The global nerve repair & regeneration market based on product, is segmented into neurostimulation and neuromodulation devices and biomaterials. In 2021, the neurostimulation & neuromodulation devices segment held the largest share of the market and the market for the biomaterials segment is expected to grow at the highest CAGR of 9.8% during 2022–2028.
The nerve repair & regeneration market majorly consists of the players such as Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV.
The dearth of trained professionals is expected to restrict the market growth during the forecast period.
Factors such as growing incidence of nerve injuries and high prevalence of neurological disorders, growing geriatric population and rising prevalence of age-associated neurological disorders, and increasing funding by private and government organizations for research in neurology.
Nerves along with the brain and spinal cord, are the foundation of nervous system. Nerve repair is method which involves exploration of the injured nerve and removal of injured tissue or scar from the nerve endings. While nerve regeneration refers to the regrowth or repair of nervous tissues, cells or cell products. Regeneration mechanism may include generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products which includes neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
The List of Companies - Nerve Repair & Regeneration Market
- Axogen Corporation
- Boston Scientific Corporation
- Integra LifeSciences
- Medtronic
- Abbott Laboratories
- Stryker Corporation
- Neuronetics
- LivaNova PLC
- Baxter
- Polyganics BV