Nerve Repair and Regeneration Market: Global Industry Analysis and Forecast (2023-2029)

Nerve Repair and Regeneration Market size was valued at USD 7 Bn. in 2022 and the total Nerve Repair & Regeneration revenue is expected to grow by 13 % from 2022 to 2029, reaching nearly USD 16.48 Bn.
Nerve Repair and Regeneration Market Overview:
Neurostimulation, neuromodulators, and biomaterial devices are among the goods available for nerve repair and regeneration. These devices are used to treat traumatic or neurodegenerative conditions including Alzheimer's, Parkinson's, amyotrophic lateral sclerosis, and multiple system atrophy. Because the brain, spinal cord, and peripheral nerves are weak and readily injured, they can interfere with the brain's capacity to communicate with muscles and organs.

These damages are repaired by nerve repair and regeneration products. The Nerve Repair and Regeneration market is expected to grow due to the increasing incidence of nerve injuries and the high prevalence of neurological disorders, technological advancements for nerve repair and regeneration, and an increase in healthcare expenditure by the government in the developed market with favorable policies.

The rise in neurological illnesses has been identified as one of the key contributors to the global disease burden. There are approximately 1,000 neural system ailments, including cerebrovascular disease, Alzheimer's disease, other dementias, migraine, epilepsy, tetanus, meningitis, Parkinson's disease, multiple sclerosis, and poliomyelitis, to name a few.

According to the Alzheimer Europe 2020 study, the number of persons with dementia in Germany in 2019 was estimated to be about 1,585,170, with this figure expected to climb to 2,748,190 by 2050. Similarly, dementia will account for 4.43% of the total population in 2050, up from 2.91% in 2019. As the number of persons suffering from dementia is likely to grow in the next years, the industry will benefit. As a result, the European population and nations in the Western Pacific area account for a sizable proportion of the population suffering from neurological illnesses.

Neurostimulation devices are increasingly being used to treat various disorders. As a result, the growth of neurostimulation devices is predicted to be the most profitable of all medical equipment. Aside from the increasing prevalence of neurological illnesses, the Nerve Repair and Regeneration market is also being driven by the main players' robust product pipelines.
Report Scope:
The research includes information about the market's features, size, growth, segmentation, geographical breakdowns, market shares, trends, and business strategies. Future market aspects are often provided based on key trends, segmentation analysis, and factors that firms contribute to market estimation. It discusses effective company tactics, customer preferences, governmental laws, current competitor activities, future business prospects, and market problems.

The Nerve Repair and Regeneration Market report includes detailed financial information about leading manufacturers such as year-over-year sales, revenue growth, CAGR, production cost analysis, and value chain structure.To know about the Research Methodology :- Request Free Sample Report
Nerve Repair and Regeneration Market Dynamics:
Market Drivers:

High Incidence of nerve injuries

The rising frequency of neurological illnesses, as well as the huge number of nerve injuries, creates a strong need for nerve repair and regeneration solutions. Globally, the geriatric population is also growing. The large geriatric population base, as well as the widespread frequency and incidence of nerve-related disorders among them, drives the Nerve Repair and Regeneration market growth.

Market participants and researchers are increasingly focused on advancing neurostimulation and neuromodulation technologies such as next-generation neurostimulation devices, collaborations among companies to launch advanced products, and the incoming latest technologies, which are driving the market growth. Government funding in neurological illness research drives the market's growth rate even higher.

Improved treatment efficiency

Rising instances of neurological illnesses and a robust product pipeline by the top firms can be considered primary divers of the market. Improved treatment efficiency for neurological illnesses as a result of technology advancements is also expected to drive market growth. Various government containment efforts affected outpatient clinics' neurological activity during the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) pandemic.

Vulnerable individuals, such as those with Parkinson's disease (PD) or dystonic patients receiving deep brain stimulation (DBS), were more likely to experience chronic stress as a result of social restriction measures, and their motor and mental symptoms deteriorated.

Additionally, the availability of different medicines for treating various Central Nervous System (CNS) illnesses such as Parkinson's disease and Alzheimer's disease, as well as the growing breadth of applications, are likely to drive market growth throughout the forecast period. According to the Alzheimer's Association, 6.6 million Americans aged 65 and more will have Alzheimer's disease by 2022. Some of the variables that might induce such diseases include increased awareness, environmental impact, lifestyle, genetics, diet, and physical trauma.

A paper presented at the A merican Society for Surgery of the Hand (ASSH) annual meeting in 2019 revealed that the processed nerve allograft utilised in the treatment of patients with upper extremity nerve deficits results in the restoration of motor and sensory nerve functioning. Patients who received a PNA allograft (Avance Nerve Graft, AxoGen) recovered motor and sensory nerve function in 77% and 87% of cases, respectively.

Government support and initiatives

With multiple government efforts and approvals to perform clinical studies of biomaterials, the stem cell treatment category is expected to grow at the quickest CAGR. According to the Organization for Economic Cooperation and Development (OECD), Denmark's average per capita healthcare spending in 2020 was around USD 5,600 Bn.

Additionally, the Alzheimer Europe 2019 study indicates that the number of persons with dementia in Italy in 2018 was about 1,279,366 and that this figure is expected to quadruple to roughly 2,247,715 in 2050. Similarly, dementia will account for 4.13% of the general population in 2050, up from 2.12% in 2018. As the number of people suffering from dementia is predicted to increase in the near future, the market is likely to grow.

A large number of research institutes, universities, and businesses from Europe, the United States, and Canada are also undertaking clinical studies for the use of stem cell-based therapeutics in nerve repair and regeneration. These countries are considered to have strong government support, a well-developed healthcare system, and a worldwide presence. As a result of the aforementioned factors, the category is expected to grow substantially during the forecast period.

Market Restraints:

Lack of Skilled Professionals

Globally, there is a chronic shortage of skilled healthcare providers. India is dealing with serious shortages and unequal distributions of skilled healthcare personnel. According to the World Health Organization, around 27% of presently employed health professionals do not have the essential credentials. As the need for healthcare services grows and the sector embraces new technologies, there is a scarcity of personnel with digital skills, limiting their ability to manage nerve repair and regeneration technology.

The Covid-19 pandemic has also demonstrated that healthcare resources committed to pandemic management in urban and rural regions compete directly with critical medical, surgical, interventional, and interventional diagnostic services for other disorders, such as neurological ailments.

Market Opportunities:

Growing Advancement in Technology

As a consequence of technological advancements in the healthcare industry, the market for nerve repair and regeneration is rising. Numerous technical advancements in stem cell treatment and the development of innovative neuromodulation devices are also growth-promoting factors. Endogenous stem cells are frequently employed in neurogenesis, neural repair, and exogenous neural stem cell transplantation to effectively repair and replace damaged central nervous system tissues.

A number of other reasons, including as increased consumer healthcare expenditure and major improvements in medical infrastructure, particularly in emerging nations, are likely to boost the market. Furthermore, groups with both public and private financing are undertaking clinical studies to provide safe and effective therapy for a variety of neurological diseases.

Examples include the use of stem cells in umbilical blood infusion to treat cerebral palsy (Phase II) and the use of a polyethylene glycol (PEG) medication in Phase I to assist the axonal fusion procedure to treat peripheral nerve damage in humans. For example, the Australian government will invest $21.8 million in research in 2020 to develop solutions for a wide range of neurological diseases, including autism and early Alzheimer's disease.

Emerging markets

With their large population bases, growing incidences of neurological illnesses, and improved healthcare infrastructure and spending, emerging economies such as India, China, and Brazil offer attractive market opportunities. The new technologies of stem cell treatment also present several prospects for market expansion, with multiple stem cell therapy research now being conducted for nerve repair and regeneration reasons.

Neurological research efforts have expanded and continue to increase in recent years. For Instance, Medtronic acquired CE clearance for the InterStim Micro neurostimulator and InterStim SureScan MRI leads, allowing them to be sold commercially and used in clinical trials in Europe.

InterStim Micro, the market's smallest rechargeable device for sacral neuromodulation (SNM) therapy, is used to treat overactive bladder (OAB), faecal incontinence (FI), and non-obstructive urine retention. When utilised with the InterStim Micro or the recharge-free InterStim II, the InterStim SureScan MRI leads give full-body 1.5 and 3 Tesla MRI-conditional images.
Competitive Landscape:
The market for Nerve Repair and Regeneration is highly competitive. Few big firms presently dominate the industry in terms of market share. Abbott Laboratories, Axogen Corporation, Baxter, and Boston Scientific Corporation are among the leading firms. These industry participants were discovered to have a diverse product pipeline for neurological illnesses. The industry's top players are in the process of releasing improved products to enhance treatment efficiency, hence acquiring a larger market share.
Nerve Repair and Regeneration Market Segment Analysis:
Based on Product, With sales of more than 65.0% in 2022, the neurostimulation and neuromodulation devices market emerged as the leading segment. Deep Brain Stimulation (DBS), Spinal Cord Stimulation (SCS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation (SNS), and Gastric Electric Stimulation (GES) Devices are sub-segments of this segment. With a revenue share of more than 40.0% in 2022, the spinal cord stimulation devices category was the biggest sub-segment.

The segment's expansion was fueled by a significant number of commercially available spinal cord devices and a diverse range of applications. The market has been divided into two sections based on product: biomaterials and neurostimulation & neuromodulation devices.

Key company investments in developing more effective devices are expected to drive market growth in the future years. For example, the Precision Montage MRI Spinal Cord Stimulator System (Boston Scientific) obtained FDA clearance in May 2016. According to the business, this technology gives 70% greater alleviation from back discomfort.

Because of technical improvements, a diverse variety of applications, government financing for innovation, and biocompatibility, the biomaterials category is expected to grow at the fastest CAGR from 2022 to 2030. Biodegradable polymers, for example, are predicted to improve spinal stability and fracture repair while reducing hospitalization.Based on the Surgery, Neurostimulation and neuromodulation procedures had the highest revenue share of more than 35.0% in 2022. Stem cell treatment is predicted to grow at the quickest rate throughout the forecast years. Various government efforts and approvals to perform clinical studies of biomaterials are expected to drive market expansion. There are around 570 clinics in the United States that provide stem cell treatments, and this number is likely to expand, consequently enhancing segment growth. The market is classified into direct nerve repair or neurorrhaphy, nerve grafting, stem cell treatment, and neurostimulation and neuromodulation surgery.

The expected commercialization of goods in the next years as a result of investments by corporations and research organizations is also expected to drive market expansion. For example, Axonics Modulation Technologies received CE mark clearance in the European Union for their sacral nerve modulation device in June 2016.

The business intends to commercialize it following a post-market clinical study. Because of the availability of many treatments and technical improvements to relieve chronic pain, neurostimulation and neuromodulation operations are projected to continue their dominance during the projection period. For example, St. Jude Medical released the Axium Neurostimulator System in the United States in April 2016 and authorized the implants for Dorsal Root Ganglion (DRG). The technology relieves chronic pain in individuals with complicated regional pain syndrome I and II, which was not possible with the classic SCS system.Based on the End Users, the Nerve Repair and Regeneration market is divided into Hospitals, Ambulatory Surgical Centers, and Others. In 2022, hospitals had a commanding market share. As a result of these considerations, patients are increasingly choosing hospitals for their treatment, which enhances the availability of cutting-edge technology and trained professionals in hospitals and stimulates market development.

Nerve repair equipment is available in hospitals, allowing patients to receive the finest possible care. Furthermore, as the healthcare industry grows, there are more hospitals on the market, which has raised the demand for hospitalized nervous system therapy. Furthermore, more modern hospital infrastructure raises demand for the healthcare industry, which stimulates the market for nerve repair and regeneration.

However, Ambulatory Surgical Centers are expected to expand the quickest, with a CAGR of 10.9% between 2022 and 2029. Ambulatory surgical facilities are cost-effective, highly successful, and provide a convenient location for interventional cardiology procedures. As the frequency of surgical procedures increases in ambulatory surgery centres, so does the demand for technologies that can repair and replace injured nerves.

Patients prefer to be treated at ambulatory surgery centres because the bulk of the professionals in this field specialise in surgical operations. The rising usage of nerve repair technologies in ambulatory surgery centres, as well as the quickly developing global healthcare infrastructure, are driving revenue growth in this area.
Nerve Repair & Regeneration Market Regional Insights:
North America command more than 30.0% of the market in 2022, owing to the region's growing prevalence of neurological illnesses and favourable health insurance coverage scenario. The availability of technologically advanced equipment as a result of the presence of key market participants is also a major factor supporting the growth of this region. For example, Medtronic plc introduced Reclaim DBS therapy for the treatment of Obsessive-Compulsive Disorder (OCD). Furthermore, Boston Scientific's Precision Montage MRI-safe SCS for chronic pain obtained FDA clearance.Owing to the increasing target population base, increased patient awareness, supporting government efforts, the prevalence of unmet medical requirements, and the introduction of breakthrough technologies, Asia Pacific is likely to emerge as the fastest-growing regional market during the forecast period. The primary nations contributing to regional growth are China, India, Japan, Australia, and Singapore. The Australian Therapeutics Good Administration (TGA) approved clinical studies in December for evaluating therapeutic methods based on human parthenogenetic stem cells (ISC-hpNSC) in Parkinson's disease patients. This approval aided in propelling the region's stem cell treatment business.
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Nerve Repair and Regeneration Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 7 Bn.


Forecast Period 2023 to 2029 CAGR:
13%
Market Size in 2029:
US $ 16.48 Bn.


 Segments Covered:
by Product
1. Biomaterials
2. Neurostimulation and Neuromodulation Devices
1.1 Spinal Cord Stimulation Devices
1.2 Deep Brain Stimulation Devices
1.3 Sacral Nerve Stimulation Devices
1.4 Vagus Nerve Stimulation Devices
1.5 Gastric Electric Stimulation Devices



by Surgery
1. Neurostimulation and Neuromodulation Surgeries
2. Direct Nerve Repair/Neurorrhaphy
3. Nerve Grafting
4. Stem Cell Therapy


by End User
1. Hospitals
2. Ambulatory Surgical Centers
3. Others



Nerve Repair and Regeneration Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
 Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Nerve Repair and Regeneration Market, Key Players are
1. Medtronic, plc.(US)
2. Alafair Biosciences, Inc.(US)
3. electroCore (US)
4. Checkpoint Surgical Inc.(US)
5. Collagen Matrix Inc.(US)
6. BioWaveGO USA(US)
7. Soterix Medical Inc(US)
8. Synapse Biomedical Inc(US)
9. NeuroSigma Inc.(US)
10. tVNS Technologies GmbH(US)
11. Boston Scientific Corporation(US)
12. Abbott Laboratories(US)
13. Axogen Corporation(US)
14. Baxter(US)
15. Integra LifeSciences(US)
16. Neuronetics Inc.(US)
17. Nevro Corp(US)
18. NeuroPace Inc(US)
19. Polyganics(Netherlands)
20. Aleva Neurotherapeutics SA(Switzerland)
21. KeriMedical(Switzerland)
22. GiMer Medical(Taiwan)
23. Renishaw PLC(UK)
24. LivaNova PLC(UK)

Frequently Asked Questions:

1] What segments are covered in the Global Nerve Repair & Regeneration Market report?
Ans. The segments covered in the Nerve Repair & Regeneration Market report are based on Product, Surgery, and End User.

2] Which region is expected to hold the highest share in the Global Nerve Repair and Regeneration Market?
Ans. The North America region is expected to hold the highest share in the Nerve Repair and Regeneration Market.

3] What is the market size of the Global Nerve Repair and Regeneration Market by 2029?
Ans. The market size of the Nerve Repair and Regeneration Market by 2029 is expected to reach US$ 16.5 Bn.

4] What is the forecast period for the Global Nerve Repair and Regeneration Market?
Ans. The forecast period for the Nerve Repair and Regeneration Market is 2023-2029.

5] What was the market size of the Global Nerve Repair and Regeneration Market in 2022?
Ans. The market size of the Nerve Repair and Regeneration Market in 2022 was valued at US$ 7 Bn.