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Global Nerve Repair and Regeneration Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Surgery, Product & Region (North America, Europe, APAC, Latin America, Middle East and Africa) - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 3549
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Nerve Repair and Regeneration Market Size (2022 to 2027)

The size of the global nerve repair and regeneration market was worth USD 6.44 Billion in 2022. It is further projected to grow and value USD 11.80 billion by 2027, growing at a CAGR of 12.9% between 2022 to 2027.

Globally, the nerve repair and regeneration market are one of the fast-growing and highly used biomaterial markets. In the human body, the central nervous system is the major system for the efficient functioning of the body. If something happens to the nervous system, the body will be dysfunctional. In such a scenario, nerves are to be repaired and regenerated in any inflammations, diseases, or other disorders. As the nerves pass from the spinal cord to the brain, they carry all the major impulses generated in the body.

The nerve repair and regeneration market usually involves nerve grafting, nerve cell stimulation, nerve conduits, and other neurological surgeries. These are some of the therapies that are used in the industry for treating neurological disorders.

Medical professionals use nerve repair and regeneration techniques to make the damaged nerves function normally. Injured nerves will stop sending signals to the parts of the body so that they fail to function. These techniques will help to restore the injured nerves effectively. Nerves can get damaged very easily as they are sensitive and stop communicating with muscles and organs where they fail to function appropriately. Nerve repair and regeneration mainly deal with the spinal cord and brain. This includes surgery according to the severity of the injury that took place. It undergoes various treatments depending upon the nerve disorder, for example, nerve grafting and direct xenografts.

MARKET DRIVERS:

The growing incidences of neurological disorders across the globe and the rapid rise in the geriatric population are key factors fuelling the growth of the global nerve repair and regeneration market.

The rise in the geriatric population, lifestyle changes, stress-related disorders, birth-related trauma such as seizures and epilepsy, etc., are significant factors driving the global nerve repair and regeneration market. Doctors use nerve therapies, nerve cell stimulation, and other surgeries to heal the inflammation and other damage at old age to cure the disorders. Lifestyle changes like work timings, stressed jobs also trigger the demand for neuropathic treatments. During childbirth, there are increased seizures and epilepsy in newborn babies, which is also an aspect driving the market to grow further.

Creating awareness over the availability of different treatment procedures, especially in undeveloped countries, surges the demand for nerve repair and regenerations. The rise in the prevalence of advanced treatment procedures and stem cell assay therapies in nerve repair and regeneration technology further help market size grow potentially from recent years. Growth opportunities for the global nerve repair and regeneration market lie in the increasing focus on developing innovative procedures to restore damaged nerve functionalities and the nerve repair and regeneration sector investments by government and non-government bodies to improve the quality of treatment procedures. 

There are certain opportunities for the market to expand the base; they are increased investments in neurological research by key players. Many scientific advancements are being invented, like artificial cognitive capabilities, but they need to be prostheses with damaged neurons. Hence there is an opportunity for the market to grow further with the development of such bionic prosthetic devices. Nowadays, proper awareness is created in people about neurological surgeries and the need to maintain the nervous system; this allows market players to invent new drugs and biological therapies to repair the nerves. The rise in the elderly population worldwide is also an opportunity for the market to expand in the coming years.

MARKET RESTRAINTS:

However, the dearth of skilled persons in undeveloped countries due to fewer training programs, strict rules and regulations by the governments, and lack of proper knowledge over the latest techniques in nerve regeneration are slowly hampering the market's growth. The lack of expertise for monitoring and doing surgeries and the complexities while performing the surgical operations with the nerve systems are also expected to sluggish the market growth.

Impact of COVID-19 on the global nerve repair and regeneration market:

COVID 19 is a disease caused by the coronavirus; SARS-CoV-2 has widely spread to all the world countries. It brought many changes in the healthcare sector. Nerve repair and regenerative market shares have declined growth rate in the initial months of 2020 due to strict lockdown instructions imposed by governments in the countries where COVID 19 cases are spreading high. As doctors are busy treating the COVID 19 patients, all the surgeries were either canceled or postponed. The patients who are in critical positions received the treatment during these tough times. The studies showed that the severely affected COVID 19 patients are more likely to develop neurological symptoms. Around 36.14% of COVID 19 patients surveyed are developed with various neurological symptoms. These cases are surging the demand for nerve repair and regeneration treatment procedures. It is estimated that the market shares are to have the highest growth rate during the COVID 19 outbreak.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Surgery, Product, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global nerve repair and regeneration market has been segmented and sub-segmented into the following categories and calculated market size and forecast for each segment until 2026.

Nerve Repair and Regeneration Market - By Surgery:

  • Direct Neuropathy
  • Epineural Repair
  • Perineural Repair
  • Group Fascicular Repair
  • Nerve Grafting
  • Autografts
  • Allografts
  • Xenografts
  • Stem Cell Therapy
  • Neuromodulation Surgery
  • External Neuromodulation Surgery
  • Internal Neuromodulation Surgery

Based on surgery, the direct neuropathy segment is estimated to account for the leading share in the global nerve repair and regeneration market during the forecast period. Y-O-Y growth in geriatric people across the world and the growing prevalence of nerve injuries due to accidents are leveraging the segment's demand.

Nerve Repair and Regeneration Market - By Product:

  • Biomaterials
    • Nerve Conduits
    • Nerve Protectors
    • Nerve Wraps
    • Nerve Connectors
  • Neuromodulation Surgery Devices
    • External Neuromodulation Surgery
      • Transcutaneous Electrical Nerve Stimulation
      • Transcranial Magnetic Stimulation
      • Internal Neuromodulation Surgery         
    • Spinal Cord Stimulation
      • Deep Brain Stimulation
      • Sacral Nerve Stimulation
      • Vagus Nerve Stimulation
      • Others

Based on the product, the biomaterials category is forecasted to dominate all during the forecast period in the global market. Adopting the latest technology in the biotechnology field and growing economies of both developed and developing countries are expected to promote the growth rate of the nerve repair and regeneration market.

Nerve Repair and Regeneration Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the North American market is estimated to account leading share in the global nerve repair and regenerations market during the forecast period. Factors such as the adoption of advanced technology and an increased number of incidences of nerve disorders prominently propel the market's growth in this region. The market growth is further attributed to the escalation in neurological disorders in people, the rise inpatient population, and acceptable reimbursement policies. The United States is currently dominating the North American market. The easy availability of devices with advanced technology and the growing aging population suffering from various disorders are majorly accelerating the U.S. market. As per the Alzheimer's Association, around 5.3 million people aged 65 years and above had this disease in 2015. The number is expected to increase to 7.1 million by 2025 and around 13.8 million by 2050. The Canadian market is expected to have a rapid growth rate during the forecast period.

The European market is predicted to second-largest regional market globally and predicted to grow at a healthy rate from 2020 to 2025. The factors driving the market growth are intensifying healthcare costs by the European nations and extensive adoption of nerve regeneration techniques.

The Asia Pacific market is expected to grow rapidly during the forecast period as the geriatric population is significantly growing in this region. Growing awareness in people related to neurological disorders and growing incidences of osteoporosis and cancer increases market growth. China, India, and Japan are accounting leading share in the APAC market. In December 2015, the Australian Therapeutics and Goods Administration (TGA) had approved the clinic's trials for the treatment method examining based on the human parthenogenesis stem cells among the patients who have Parkinson's diseases.

The Latin American market is predicted to showcase a promising CAGR during the forecast period. Factors such as key market participants robust existence, rising patient count suffering from chronic pain, and obesity cases. The Mexican market is expected to register a healthy growth rate during the forecast period due to the improvements in healthcare facilities and the escalating number of patients who need blood and blood components.

KEY MARKET PARTICIPANTS:

Some notable companies leading the Global Nerve Repair and Regeneration Market profiled in this report are AxoGen, Baxter International, Boston Scientific Incorporation, Cyberonics, Integra Lifesciences, Medtronic, Orthomed S.A.S., Polyganics B.V., St. Jude Medical, and Stryker Corporation.

RECENT HAPPENINGS IN THIS MARKET:

  • In 2017, The U.S. Food and Drugs Administration approved the Avance nerve graft launched by Axogen.
  • In June 2017, Medtronic received SureTune3 got the CE approval mark designed with the latest technologies.

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