USD 8.2 Billion
Nerve Repair and Regeneration Market Size, Share, Growth Analysis, By Type(Neurostimulation and Neuromodulation Devices, and Biomaterials), By Application(Peripheral Nerve Injury, Epilepsy, Parkinson's Disease, and Alzheimer's Disease), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2162 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
Nerve Repair and Regeneration Market Insights
Global Nerve Repair and Regeneration Market size was valued at USD 8.2 Billion in 2022 and is poised to grow from USD 9.2 Billion in 2023 to USD 23.05 Billion by 2031, at a CAGR of 12.17% during the forecast period (2024-2031).
The global market growth is driven by rising prevalence of neurological disorders worldwide. With an increasing number of individuals suffering from conditions such as Parkinson's disease, Alzheimer's, and other Central Nervous System (CNS) disorders, the demand for effective treatment options is on the rise. Major companies in the medical industry are actively engaged in developing a strong product pipeline to meet this growing demand. Their continuous research and development efforts are resulting in technological advancements that improve the efficiency of neurological disorder treatments. These advancements are expected to contribute significantly to the expansion of the market. Moreover, the availability of multiple therapies for various CNS disorders further enhances the market potential. For instance, therapies using processed nerve allografts have shown promising results in restoring motor and sensory nerve functions in patients with upper extremity nerve impairments. In a study presented at the annual meeting of the American Society for Surgery of the Hand, it was reported that 75% of patients treated with a specific nerve allograft exhibited recovery of motor function, while 85% experienced restored sensory nerve function. Additionally, increasing awareness among the general population about neurological disorders, along with factors such as environmental influences, lifestyle choices, genetics, nutrition, and physical injuries, has raised the overall understanding of these conditions. This heightened awareness has contributed to the growing demand for nerve repair and regeneration solutions.
US Nerve Repair and Regeneration Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Neurostimulation and Neuromodulation Devices
Fastest Growth
Neurostimulation and Neuromodulation Devices
Growth Rate
12.17% CAGR
Global Nerve Repair and Regeneration Market ($ Bn)
Country Share for North America Region (%)
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Nerve Repair and Regeneration Market Segmental Analysis
Global Nerve Repair and Regeneration Market is segmented by Type, application, and region. Based on Type, the market can be segmented into neurostimulation and neuromodulation devices, and biomaterials. Based on application, the market is segmented into peripheral nerve injury, epilepsy, Parkinson's disease, and Alzheimer's disease. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By Type, the market can be segmented into neurostimulation and neuromodulation devices, and biomaterials. Neurostimulation and neuromodulation devices segment dominated the nerve repair and regeneration market. These devices are used for electrical nerve stimulation and modulation, targeting specific nerves or regions to restore or modify nerve activity. They play a crucial role in treating various neurological disorders and managing chronic pain conditions.
While the biomaterials segment is experiencing rapid growth and is projected to be the fastest growing segment in the nerve repair and regeneration market in the coming years. Biomaterials used in nerve repair and regeneration include nerve conduits, nerve wraps, and nerve grafts.
Analysis by Application
By application, the market can be segmented into peripheral nerve injury, epilepsy, Parkinson's disease, and Alzheimer's disease. Peripheral nerve injury dominated the nerve repair and regeneration market. Peripheral nerves are responsible for transmitting signals between the central nervous system and various parts of the body. When these nerves are damaged due to trauma, compression, or surgical procedures, nerve repair and regeneration techniques are employed to restore their function.
Alzheimer's disease is projected to be the fastest growing segment in the nerve repair and regeneration market. Alzheimer's disease is a neurodegenerative disorder characterized by cognitive decline, memory loss, and behavioural changes. While the exact cause of Alzheimer's disease is not fully understood, research in nerve repair and regeneration for this condition is gaining momentum.
Global Nerve Repair and Regeneration Market By Type
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Nerve Repair and Regeneration Market Regional Insights
North America dominated the global market. Firstly, the region has a high prevalence of neurological disorders such as Alzheimer's disease, Parkinson's disease, and spinal cord injuries. This high disease burden has driven significant investments in research and development, leading to the development of advanced treatment options and technologies. North America benefits from a robust healthcare infrastructure and favorable reimbursement policies. These factors contribute to the early adoption of innovative therapies and attract major companies to establish a strong presence in the region. The presence of key players and their extensive product pipelines further consolidates North America's dominant position in the nerve repair and regeneration market.
On the other hand, the APAC region is experiencing rapid growth in the nerve repair and regeneration market. This growth can be attributed to various factors specific to the region. Firstly, APAC has a large population base, which includes a significant elderly population. This demographic trend, coupled with changing lifestyles and environmental factors, has led to an increasing incidence of neurological disorders in the region. Additionally, governments in APAC countries have been focusing on improving healthcare infrastructure and investing in research and development activities. These initiatives aim to address the rising healthcare needs of the population, including neurological disorders. As a result, the APAC region has witnessed the emergence of several local players and increased collaborations with global companies, contributing to the region's rapid growth.
Global Nerve Repair and Regeneration Market By Geography
- Largest
- Fastest
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Nerve Repair and Regeneration Market Dynamics
Drivers
Rising prevalence of neurological disorders
- One significant driver of the nerve repair and regeneration market is the rising prevalence of neurological disorders globally, including conditions such as Alzheimer's disease, Parkinson's disease, and spinal cord injuries. The increasing incidence of these disorders necessitates effective treatment options, leading to a growing demand for nerve repair and regeneration therapies. This driver is fueled by factors such as aging populations, changing lifestyles, environmental influences, and genetic predispositions, highlighting the need for innovative solutions in the market.
Restraints
High cost associated with advanced treatments and therapies
- One notable restraint in the nerve repair and regeneration market is the high cost associated with advanced treatments and therapies. The development and implementation of innovative technologies and regenerative therapies often require substantial investments in research, development, and manufacturing. These costs can pose a significant barrier to access for patients, particularly in regions with limited healthcare resources or inadequate insurance coverage. Additionally, the reimbursement landscape for nerve repair and regeneration procedures may not always be favorable, further limiting the affordability and accessibility of these treatments for patients.
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Nerve Repair and Regeneration Market Competitive Landscape
Global nerve repair and regeneration market is characterized by a mix of established companies and emerging players. These companies are actively engaged in research and development activities to introduce novel therapies and technologies. They focus on strategic collaborations, partnerships, and acquisitions to expand their product portfolios and global presence. Additionally, there is a growing trend of startups and smaller companies entering the market, bringing innovative solutions and disruptive technologies. This competitive environment fosters innovation and drives the overall growth of the nerve repair and regeneration market.
Top Player’s Company Profiles
- Stryker Corporation (US)
- AxoGen, Inc. (US)
- Integra LifeSciences Holdings Corporation (US)
- Baxter International Inc. (US)
- Nevro Corp (US)
- LivaNova PLC (UK)
- Cyberonics Inc. (US)
- Orthofix Medical Inc. (US)
- Polyganics (Netherlands)
- Nuvectra Corporation (US)
- Polyganics BV (Netherlands)
- BioTime Inc. (US)
- Collagen Matrix, Inc. (US)
- Synovis Micro Companies Alliance, Inc. (US)
- StimGuard LLC (US)
- Nexeon MedSystems Inc. (US)
- Checkpoint Surgical, Inc. (US)
Recent Developments
- In June 2023, Boston Scientific acquired Neuros Medical, a company focused on neurostimulation for chronic pain, strengthening its position in the nerve repair and neuromodulation market.
- In April 2023, Axogen announced the launch of AxoSim3D, a nerve-on-a-chip platform that enables high-throughput screening of nerve repair therapies, enhancing the efficiency of preclinical testing.
- In March 2023, researchers at Rice University launched a clinical trial to evaluate the safety and efficacy of a bioengineered peripheral nerve graft for nerve repair, utilizing 3D-printing techniques and bioactive molecules.
- In February 2023, Renerva, a regenerative medicine company, secured $32 million in Series B funding to advance the development of its peripheral nerve repair therapies, utilizing decellularized extracellular matrix technology.
- In December 2022, Polyganics, a medical technology company, raised €35 million in a funding round to advance the development and commercialization of its peripheral nerve repair products.
Nerve Repair and Regeneration Key Market Trends
- One key market trend in the nerve repair and regeneration industry is the growing focus on regenerative medicine and stem cell therapies. Researchers and companies are exploring the potential of stem cells in promoting nerve regeneration and restoring neurological functions. Stem cell-based approaches offer the ability to replace damaged or lost cells, providing promising solutions for patients with nerve injuries or degenerative disorders. This trend reflects the industry's shift towards regenerative and personalized treatment strategies, paving the way for innovative therapies that harness the regenerative potential of stem cells.
Nerve Repair and Regeneration Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global nerve repair and regeneration market analysis, the market is witnessing significant growth driven by factors such as rising cases of neurological disorders, strong product pipelines from major companies, and technological advancements. The market is propelled by improved treatment efficiency, availability of multiple therapies for CNS disorders, and increasing awareness among the population. North America dominated the market due to high disease prevalence, advanced healthcare infrastructure, and favorable reimbursement policies. Meanwhile, the Asia-Pacific region is the fastest growing market, driven by a large population base, increasing incidence of neurological disorders, and government initiatives. Key trends include a focus on regenerative medicine and stem cell therapies, offering promising solutions for nerve regeneration.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.2 Billion |
| Market size value in 2031 | USD 23.05 Billion |
| Growth Rate | 12.17% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Nerve Repair and Regeneration Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Nerve Repair and Regeneration Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Nerve Repair and Regeneration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nerve Repair and Regeneration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nerve Repair and Regeneration Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Nerve Repair and Regeneration Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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