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 nerve repair & regeneration industry is growing rapidly owing to an increase in neurological diseases, which also marks the continuous development of new products by industry leaders. With an increased number of cases of diseases such as Parkinson's, Alzheimer's, and other neurodegenerative illnesses, the demand for neuron regeneration and repair therapies is expected to rise. Advanced technologies in surgical techniques, biologics, and medical equipment have improved the efficacy of treatments for neurological disorders; this has enhanced market growth further. Treatment of patients with chronic diseases was adversely affected by the disruption of several healthcare services, including outpatient neurological clinics, due to the COVID-19 pandemic. Isolation and stress from social constraints worsened symptoms in vulnerable populations, especially those with Parkinson's disease or dystonia requiring deep brain stimulation (DBS). However, future growth and recovery are expected because of advancements in therapies for the diseases of the CNS, including nerve grafts, stem cell treatments, and neuroprotective drugs. The growth in applications for nerve repair therapies adds to the development in the market. These applications range from degenerative disorders to traumatic injuries. The Alzheimer's Association claimed that as many as 6.5 million Americans 65 years of age and older have Alzheimer's disease in 2022, highlighting the increasing demand for advanced treatments in the market for nerve regeneration and repair. The nerve repair & regeneration market growth is expected to be boosted in the coming years due to continued research and innovation.
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
Based on the 2023 nerve repair & regeneration market analysis, the neurostimulation & neuromodulation devices segment accounted for the largest share, at more than 66.9%. The segment is categorized into gastrointestinal electric stimulation, or GES, devices, vagus nerve stimulation, or VNS, devices, sacral nerve stimulation, or SNS, devices, spinal cord stimulation, or SCS, devices, and deep brain stimulation, or DBS, devices. Spinal cord stimulation devices held the highest revenue share, of more than 40.0% in 2022. The category has grown due to several spinal cord devices that have been commercially available and a vast variety of uses.
Contrarily, the biomaterials category is expected to witness tremendous growth during the forecast period. The reason behind this increase can be explained as increased usage of biomaterials that help in nerve regeneration and repair, which includes hydrogels, scaffolds, and nerve conduits. Biomaterials are important for nerve cell development for filling gaps in the nerve tissue and recovering fast after surgery or damage. This allows for the development of sophisticated biocompatible materials with improved nerve restoration capabilities, which will further drive the market. The demand for nerve regeneration and repair surgery using biomaterials will grow with the need for less invasive yet effective treatments for neurological disorders and nerve injuries. Thus, overall growth in the market is expected.
Analysis By Application
The largest portion of the market is peripheral nerve injury. The peripheral nerves often suffer an injury due to trauma, surgery, and compression injuries as they play a crucial role in relaying messages from the central nervous system to various parts of the body. An injury to peripheral nerves leads to a severe impairment of sensory and motor abilities. Techniques in nerve repair and regeneration, such as conduits, grafts, and growth factors of the nerve, are necessary to avoid massive secondary damage over time and restore function. With an increasing number of operations, accidents, and injuries, the demand for effective treatments of peripheral nerve injuries grows, and this market segment continues to represent the largest share in this industry.
However, as per the nerve repair & regeneration market forecast, the Alzheimer's disease segment is projected to develop the fastest. This is because of its increasing incidence and due to the growing need for therapies to control this neurodegenerative condition. All these features, progressive cognitive decline, memory loss, and behavioral abnormalities, have a potent negative impact on the quality of life of an affected patient. Although the exact etiology of Alzheimer's disease is yet to be known, more research is being done to find effective treatments for neuron regeneration and repair. Advances in biomaterials, neuroprotective drugs, and stem cell treatment are promising in the cure of nerve damage due to Alzheimer's. The need for advanced therapies in this area will possibly fuel the growth of the segment.
Global Nerve Repair and Regeneration Market By Type
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Nerve Repair and Regeneration Market Regional Insights
North America dominated in 2023, taking up more than 30.8% of the market in the nerve repair and regeneration industry. This is because neurological conditions such as Parkinson's disease, Alzheimer's disease, and peripheral nerve damage have a high prevalence in this area and are rising. It has been easier for patients to access nerve repair therapies when there exists a developed health care system and supportive health insurance coverage. Conversely, due to the availability of advanced treatment alternatives and high-technology medical equipment from key market companies such as Medtronic, Abbott, and Boston Scientific, North America takes full advantage of all the aforementioned factors as the region continues to grow and lead the market.
During the forecast period, the nerve repair and regeneration regional market growing at the fastest CAGR is expected to be Asia Pacific. The two factors for this rapid growth are an aging population and the growing target population base brought about by the increasing incidence of neurological illnesses. The industry in this area further benefits from patient awareness, which is on the rise, and the growing number of government programs encouraging healthcare access and research. In addition, the emergence of new technologies and therapies and the presence of unmet medical needs in many countries is driving the demand for nerve repair solutions. All these have greatly led to significant investments from key players in China, India, Japan, Australia, and Singapore in advanced health care research and infrastructure, which has further increased market growth.
Global Nerve Repair and Regeneration Market By Geography
- Largest
- Fastest
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Nerve Repair and Regeneration Market Dynamics
Nerve Repair and Regeneration Market Drivers
Growing Neurological Disorder Prevalence
- The market is highly driven by the growing prevalence of neurological conditions, including multiple sclerosis, Parkinson's disease, Alzheimer's disease, and spinal cord injuries. Increasing necessity of effective therapies arises as the world's population ages and rising lifestyles serve to increase the prevalence of these disorders. Rising market growth can be witnessed around the globe with nerve repair treatments taking more prominence in countries with advanced healthcare structures within industrialized nations.
Advancements of Therapeutic Technology
- The market can be fueled by the continuous development of new technologies including tissue-engineered approaches, biomaterials, and stem cell therapies. Such progress in treatments enhances recovery outcomes by providing more effective treatments for neurodegenerative diseases as well as nerve injuries. Further propelling the market's growth is the way nerve injury is being treated, as the growing use of tailored medicines and precision medicine besides better surgical methods are revolutionizing it.
Nerve Repair and Regeneration Market Restraints
High Medical Care Cost
- One of the more significant hurdles to adoption of modern nerve repair treatments, such as stem cell therapies and regenerative medicine, has been price. Such treatments often cost a penny and require high investments in technology and research, keeping them out of many patients' reaches especially in low- and middle-income countries. The treatment costs can also make such advanced medicines expensive for widespread use and could be a constraint for the expansion of the market, especially in areas with health care budgetary constraints.
Regulatory Hurdles and Approvals Delay
- Since most of the new medicines and treatments require strict testing and approval processes, the regulatory hurdles are a cause of concern for the nerve repair & regeneration market. It requires much clinical research by regulatory bodies such as the FDA and EMA for any new medicine to be released onto the market, thereby delaying market entry. Regulatory issues and drawn-out timelines for approvals also hinder the development of new therapies and restrain the expansion of the market, especially for innovative technology.
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Nerve Repair and Regeneration Market Competitive Landscape
There are large companies such as Medtronic, Abbott Laboratories, and Boston Scientific competing in the competitive nerve repair and regeneration market in addition to smaller companies researching and developing innovative treatments. These companies are investing in R&D to develop novel therapeutic options such as stem cell treatments, biomaterials, and tissue-engineering solutions for introducing new therapeutic options. Gaining a greater share of the market and also to enhance the product offers in this competitive industry, strategic alliances, merger and acquisition, and technology development are some of the important strategies used.
Top Player’s Company Profiles
- Medtronic (US)
- Boston Scientific Corporation (US)
- Abbott Laboratories (US)
- 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
- Boston Scientific cemented its grasp on the global nerve repair and regeneration market, in June 2023, by acquiring Neuros Medical, a neurostimulation firm for chronic pain.
- To express more advanced aspects of regenerative medicine, Regenity Biosciences, formerly known as Collagen Matrix, Inc., introduced its new website and visual identity in March 2023.
- Axogen Corporation published independent retrospective and comprehensive clinical review of recovery rates among autograft, conduits, and allograft using meta-analysis in January 2023.
Nerve Repair and Regeneration Key Market Trends
- Transition to Less Invasive Techniques: As it can offer shorter recovery times, less pain, and lower complications, minimally invasive procedures are used more extensively nowadays in nerve regeneration and repair. Technologies such as laparoscopic surgery, endoscopy, and robot-assisted operations are being used now on a large scale for the treatment of nerve injury. This is less invasive in nature, opening space for an expansion in the market favorably as it is changing the therapeutic horizon, improving patient outcomes, and making procedures more streamlined.
- Prioritize Regenerative Medicine: Regenerative medicine, in particular nerve regeneration and repair market, is the major trend. Among the most advanced regeneration therapies for regaining nerve function are stem cell therapies, gene therapy, and tissue engineering. New approaches which will utilize mechanisms already present in the human body will produce promising substitutes for traditional procedures, aiming to reconstruct or repair damaged nerves. It is expected that regenerative medicine will grow rapidly with further advances in research in this field, changing the available treatments and creating increased consumer demand.
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, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the nerve regeneration and repair market is predicted to grow significantly because of the enhanced incidence rate of neurological disorders, advanced therapeutic technologies, and a growing need for more potent treatments. Treatment options for nerve injuries and neurodegenerative diseases are evolving with new innovations such as tissue engineering, biomaterials, and stem cell treatments that also advance patient outcomes. More emphasis on treatments that are more minimally invasive in addition to regenerative medicine is propelling the growth of the market despite the hindrances such as high treatment costs and regulatory barriers. Growing research and a strong product pipeline with new developments to treat medical needs is expected to provide a brighter prospect for continued growth in the market ahead.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.2 Billion |
| Market size value in 2031 | USD 23.05 Billion |
| Growth Rate | 12.17% |
| Base year | 2023 |
| 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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