Authored By: Sarah
02 Jul 2024

 Nerve Repair and Regeneration Market Size to grow by USD 4891.9 million between 2023-2027

According to a research report “ Nerve Repair and Regeneration Market” by Product (Neuromodulation devices, Biomaterials) Application (Neurorrhaphy, Nerve grafting, Stem cell therapy) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 4891.9 million, at a CAGR of  11.23% during the forecast period. The nerve repair and regeneration market is experiencing significant growth due to the escalating global prevalence of neurological disorders, such as Alzheimer's disease. Neurological conditions are the leading cause of impairment worldwide, with approximately 5.8 million Americans diagnosed with Alzheimer's disease in the US in 2020. Furthermore, the aging population, who are more susceptible to neurological conditions, and the increasing number of nerve injuries are driving market expansion. Innovative nerve repair solutions are being offered by hospitals, ambulatory surgical centers (ASCs), and other healthcare organizations globally to facilitate prompt diagnosis and treatment of neurological disorders.

Browse market data tables, figures, and in-depth TOC on “Nerve Repair and Regeneration Market” by Product (Neuromodulation devices, Biomaterials) Application (Neurorrhaphy, Nerve grafting, Stem cell therapy) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2027. Download Free Sample

 

By Product, the Neuromodulation devices segment is projected to dominate the market size in 2024

In the realm of nerve repair and regeneration, direct repair, or neurorrhaphy, is an essential technique when the severed nerve ends can be precisely aligned without undue strain. However, excessive tension at the coaptation site can negatively impact nerve vascularity and functional outcomes. Given the elastic nature of nerves, some stress is inevitable during repairs. When the tension at the coaptation site exceeds the capacity of a single 8-0 suture, nerve grafting is typically recommended. The neurorrhaphy segment is a significant market player, poised for expansion throughout the forecast period, driven by advancements in neurotechnology and the emergence of innovative therapies for various neurological conditions.

By Application, Neurorrhaphy  segment is expected to hold the largest market size for the year 2024

In the neuromodulation market, businesses specializing in nerve repair and regeneration employ advanced techniques, such as neuromodulation, to address nerve injuries through electrical impulses. Neuromodulation surgical devices, a significant segment of this industry, maintain a prominent position due to their widespread use in healthcare. The pandemic-induced supply chain disruptions led to an unexpected surge in demand for neuromodulation surgery devices worldwide in 2020. This segment can be further categorized into internal neurostimulation devices, including spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, and sacral nerve stimulation, and external neurostimulation devices, such as transcutaneous electrical nerve stimulation devices, transcranial magnetic stimulation devices, and respiratory electrical stimulation devices.

North America is forecasted to hold the largest market size by region in 2024

The nerve repair and regeneration market in North America is primarily driven by the United States, where significant investments are being made in neurological disorder treatment due to the increasing patient population and escalating healthcare expenditures. Neurological disorders, such as epilepsy and dementia, place a substantial financial burden on the US healthcare system, estimated to be around USD800 billion annually (Annals of Neurology). This financial commitment, coupled with advanced healthcare infrastructure, fosters market expansion for nerve repair and regeneration solutions. The growing demand for neuromodulation devices further bolsters market growth in the region.

The Nerve Repair and Regeneration Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abbott Laboratories
  • ALEVA NEUROTHERAPEUTICS SA
  • AxoGen Inc.
  • Baxter International Inc.
  • BioWaveGO USA
  • Boston Scientific Corp.
  • Check Point Surgical Inc.
  • Collagen Matrix Inc.
  • Gimer Medical Co. Ltd.
  • Integra Lifesciences Holdings Corp.
  • KeriMedical SA
  • LivaNova Plc
  • Medtronic Plc
  • NEURONETICS Inc.
  • NeuroPace Inc.
  • NeuroSigma Inc.
  • Polyganics BV
  • Soterix Medical Inc.
  • Stryker Corp.
  • Synapse Biomedical Inc.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Nerve Repair and Regeneration Market encompasses a range of medical supplies, drug therapies, and medical devices used to treat physical injuries and neurological disorders. This market faces challenges such as medical supply recalls and the complexities of tissue morbidity. Neurologists and neurology research are at the forefront of developing new therapies, including drug therapies, stem cell therapy, neuromodulation, and neurostimulation. Factors influencing nerve repair and regeneration include genetics, lifestyle choices, environmental influences, and nutrition. Sensory nerve function and motor function are crucial areas of focus, with processed nerve allografts and other therapies offering potential solutions. Technological advancements continue to drive innovation in the field, with applications in Central Nervous System disorders such as Alzheimer's and Parkinson's disease. Market growth is driven by the general population's increasing awareness of neurological disorders and the potential for effective treatments.

Market Research Overview

The Nerve Repair and Regeneration Market encompasses a range of innovative treatments and technologies aimed at addressing various neurological disorders, including nerve injuries, Alzheimer's disease, Parkinson's disease, and epilepsy. Key approaches include nerve grafting using nerve wraps, nerve conduits, and processed nerve allografts, as well as drug therapies, neuromodulation, and neurostimulation. However, market challenges include medical supply recalls, tissue morbidity, and the complexities of personalized treatment strategies based on genetic predispositions, changing lifestyles, and aging populations. Neurologists and neurology research are at the forefront of developing new therapies, such as stem cell therapies, bioactive molecules, and 3D printing techniques, to address these challenges. Government support and healthcare infrastructure play crucial roles in advancing clinical trials and making these treatments accessible to the general population. Neurological disorders, such as memory loss, cognitive decline, compression injuries, trauma, and peripheral nerve injuries, affect millions worldwide, making this a significant and growing market. Technological advancements in areas like electrical nerve stimulation and nutritional interventions offer promising solutions for improving sensory nerve function, motor function, and overall neurological health.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio