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

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.