Global Nerve Repair And Regeneration Market

Global Nerve Repair and Regeneration Market, By Product (Neurostimulation And Neuromodulation Devices), By Application (Neurostimulation & Neuromodulation Applications, Nerve Repair & Regeneration Biomaterials), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2159
  • Available Format: PDF
  • Page: 190

Report Overview

Several factors are driving the global nerve repair and regeneration market, such as the wide incidence of nerve injuries, the increasing prevalence of neurological disorders, and the growing government funding for research into neurologic disorders.

The global nerve repair and regeneration market was worth USD 6.2 billion in 2020 and is further projected to reach USD 10.7 billion by the year 2027, growing at the CAGR of 7.6% in the forecast period. The market growth is influenced by factors such as the increasing prevalence of neurological disorders like Alzheimer’s, brain tumors, cerebral aneurysm, etc., along with the development and availability of treatment for such disorders in medical science. Furthermore, the availability of technologically advanced devices is also propelling the growth of the global nerve repair and regeneration market.

Nerve Repair and Regeneration Market

Source: BlueWeave Consulting

Global Nerve Repair and Regeneration Market- Overview

Nerve repair and regeneration is a procedure where the damaged nervous tissues, cells, or cell products are repaired or regrown. The surgical procedure of repair and regeneration involves the examination of the damaged nerve, then cutting and removing the injured tissue from the nerve ending. After this step, the nerve is directly reconnected with the other nerves which further allows the regeneration or healing without any obstacle. However, the procedure where the nerves or tissues are severely bruised or traumatized may take longer than usual.

Global Nerve Repair and Regeneration Market Forecast and Trends

Growth Drivers

Increasing Cases of Nervous System Injuries

The cases of nervous system injuries are increasing every year at a very rapid rate. Most of these cases are the result of road accidents, stretching or crushing trauma and fractures, burns, or gunshot wounds. As the prevalence of neurological injuries is rising, medical science is working hard towards developing effective treatment procedures for treating nerve injuries and recovering their functionality. This is being a major factor for the growth of the global nerve repair and regeneration market.

Rise in Healthcare Expenditure and Growing Awareness Neurological Disorders

With the increasing prevalence of various neurological disorders like epilepsy, seizures, Bell's palsy, Alzheimer’s disease, acute spinal cord injury, brain tumors, cerebral aneurysm, etc., people are educating themselves more and more towards the causes and cases of neurological disorders. This has made the diagnosis of such disorders at earlier stages easy as people are aware of the potential symptoms. Furthermore, the increasing healthcare expenditure has also propelled the demand for neurological surgical procedures, due to which the nerve repair and regeneration products and devices are gaining significant traction.

Restraints

High Complications involved in the Nerve Regeneration Procedure

Nerve repair and regeneration procedure is one of the most complicated procedures in medical science. Although the surgical procedures for peripheral nerve injuries are capable of self-healing to great extent, the risk of complications is still very high even after the application of the best micro-surgical technique. Due to the nonavailability of solutions for tackling motor or sensory abilities issues, the nerve repair and regeneration market is witnessing restrictive growth.

Impact of COVID-19 on Global Nerve Repair and Regeneration Market

The COVID-19 has affected the surgical sector in the healthcare industry very negatively. Several neurological surgical procedures were postponed for ensuring the safety of the patients and surgeons as well as to provide resources to deal with COVID-19 cases first. This subsequently declined the demand for nerve repair and regeneration devices. Furthermore, the market was also impeded as the imports and exports were temporarily halted, which affected the manufacturing and supply of such devices to the hospitals. However, in the post-COVID-19 period, the market is estimated to witness greater demand as all the neurological surgery processes resume.

Global Nerve Repair and Regeneration Market - By Product

The global nerve repair and regeneration market has prominent demand for neurostimulation and neuromodulation devices. It is further classified into internal neurostimulation and neuromodulation devices, external neurostimulation and neuromodulation devices, and biomaterials. Neurostimulators are devices that are used for delivering mild electrical signals near the spine through one or more thin wires. They are essentially used for altering pain signals which go to the brain. The availability of a large range of spinal cord products and devices plays a major factor in the growth of the Neurostimulation segment.

Global Nerve Repair and Regeneration Market - By Application

Based on applications, the global nerve repair and regeneration market is segmented into neurostimulation & neuromodulation applications and nerve repair & regeneration biomaterials. The neurostimulation and neuromodulation applications segment accounted for the largest market share. This segment is further divided into internal neurostimulation & neuromodulation and external neurostimulation & neuromodulation. Biomaterials are, however, gaining significant traction owing to approvals from clinical trials and the consistent developments taking place in this segment.

Global Nerve Repair and Regeneration Market - Regional Insights

Geographically, the global nerve repair and regeneration market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the market due to the high and increasing prevalence of neurological diseases. With developed healthcare infrastructure, the diagnosis and treatment of such neurological disorders are much more prominent in this region which is pulling the demand for nerve repair and regeneration devices in the region. Furthermore, the high concentration of leading market players in this region also plays a favorable factor for the market growth.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global nerve repair and regeneration market are Stryker, Neuropace Inc., Livanova, Boston Scientific Corporation, Axogen Corporation, Neuronetics, Medtronic, Integra Lifesciences Corporation, Baxter, Abbott Laboratories, Polyganics, St. Jude Medical, Cyberonics, Inc, Soterix Medical, Inc., Nevro, Kerimedical, Biowave Corporation, Neuronetics, Inc., Synapse Biomedical, Inc., and other prominent players.

The market is highly consolidated and competitive with the presence of global players like Abbott Laboratories, and Boston Scientific Corporation, etc. dominating the market. The industry participants also invest in extensive research and development and focus on innovating and advancing products and technologies to grab a larger share in the market.

Recent Development

  • In June 2021, Orthocell Ltd. announced to have received New Zealand and Chinese patents for its CelGro collagen medical device platform for soft tissue regeneration applications. Through this, Orthocell aims to strengthen its intellectual property position.
  • In May 2021, CCRM, a fertility science, research, and advancement leader announced its partnership with leading Canadian and international institutions such as McGill University, McMaster University, Australia’s Monash University, and Starfish Innovations, a subsidiary of Leiden University Medical Center in the Netherlands, among others, to advance regenerative medicine inventions.

 

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

By Product, By Application, By Region

Key Players

Stryker, Neuropace Inc., Livanova, Boston Scientific Corporation, Axogen Corporation, Neuronetics, Medtronic, Integra Lifesciences Corporation, Baxter, Abbott Laboratories, Polyganics, St. Jude Medical, Cyberonics, Inc, Soterix Medical, Inc., Nevro, Kerimedical, Biowave Corporation, Neuronetics, Inc., Synapse Biomedical, Inc., and other prominent players.

 

By Product

  • Neurostimulation And Neuromodulation Devices
  • Internal Neurostimulation And Neuromodulation Devices
  • External Neurostimulation And Neuromodulation Devices
  • Biomaterials

By Application

  • Neurostimulation & Neuromodulation Applications
  • Internal Neurostimulation & Neuromodulation
  • External Neurostimulation & Neuromodulation
  • Nerve Repair & Regeneration Biomaterials
  • Direct Nerve Repair/Neurorrhaphy
  • Nerve Grafting
  • Stem Cell Therapy

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)

Frequently Asked Questions:

Ans: The global nerve repair and regeneration market reached USD 6.2 billion in 2020.
Ans: The major factors driving the growth of the global nerve repair and regeneration market are the increasing cases of nervous system injuries, rise in healthcare expenditure and the growing awareness of neurological disorders.
Ans: The key players in the global nerve repair and regeneration market are: Stryker, Neuropace Inc., Livanova, Boston Scientific Corporation, Axogen Corporation, Neuronetics, Medtronic, Integra Lifesciences Corporation, Baxter, Abbott Laboratories, Polyganics, St. Jude Medical, Cyberonics, Inc, Soterix Medical, Inc., Nevro, Kerimedical, Biowave Corporation, Neuronetics, Inc., Synapse Biomedical, Inc., and other prominent players.
Ans: The neurostimulation & neuromodulation applications segment accounted for the largest share in the global nerve repair and regeneration market.
Ans: North America has the largest share in the global nerve repair and regeneration market.