Nerve Repair and Regeneration Industry Overview
The global nerve repair and regeneration market size was valued at USD 6.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.16% from 2022 to 2030. Rising cases of neurological disorders and a strong product pipeline by the major companies are the key factors driving the market. Improved treatment efficiency for neurological disorders due to several technological advancements is also likely to contribute to the market growth.
During the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) pandemic, various government containment measures led outpatient clinics' neurological activities to be disrupted. Vulnerable patients such as those with Parkinson's disease (PD) or dystonic patients with deep brain stimulation (DBS) were at a higher risk of chronic stress as a result of social restriction measures, and their motor and psychiatric symptoms were reported to deteriorate.
Gather more insights about the market drivers, restraints, and growth of the Global Nerve Repair and Regeneration Market
Furthermore, the availability of multiple therapies for treating various Central Nervous System (CNS) disorders, such as Parkinson’s disease and Alzheimer’s, and the increasing scope of applications are further expected to boost the market growth over the forecast period. According to the Alzheimer’s Association, in 2022, 6.5 million people aged 65 or more in America were suffering from Alzheimer's disease.
Increasing awareness, environmental influence, lifestyle, genetics, nutrition, and physical injuries are some of the factors that can cause such disorders. In 2015, a report presented at the annual meeting of the American Society for Surgery of the Hand (ASSH) stated that the processed nerve allograft used in the treatment of patients with upper extremity nerve impairments may lead to the restoration of motor and sensory nerve functions. Patients treated with a PNA allograft (Avance Nerve Graft, AxoGen) exhibited recovery of motor function and sensory nerve function in 75% and 85% of the patients, respectively.
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Vagus Nerve Stimulation Market - The global vagus nerve stimulation market size was valued at USD 434.40 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.61% from 2023 to 2030.
Peripheral Nerve Injuries Market - The global peripheral nerve injuries market size was valued at USD 1.33 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.65% from 2022 to 2030.
Nerve Repair and Regeneration Market Segmentation
Grand View Research has segmented the global nerve repair and regeneration market on the basis of product, surgery, and region:
Nerve Repair and Regeneration Product Outlook (Revenue, USD Million, 2018 - 2030)
- Biomaterials
- Neurostimulation and Neuromodulation Devices
Nerve Repair and Regeneration Surgery Outlook (Revenue, USD Million, 2018 - 2030)
- Direct Nerve Repair/Neurorrhaphy
- Nerve Grafting
- Stem Cell Therapy
- Neurostimulation and Neuromodulation Surgeries
Nerve Repair and Regeneration Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
June 2016: St. Jude Medical launched direction DBS lead and Infinity DBS system to support treatments pertaining to movement disorders. It is designed with the aim of enabling Apple mobile devices to be used as wireless controllers with the help of a Bluetooth connection and is the only upgradable DBS system for disorders, such as tremor, dystonia, and Parkinson’s disease.
Key Companies profiled:
Some prominent players in the global Nerve Repair and Regeneration market include -
- AxoGen, Inc.
- Stryker Corporation
- St. Jude Medical, Inc.
- Baxter International, Inc.
- Polyganics B.V.
- Boston Scientific, Inc.
- Integra Lifesciences Corporation
- Cyberonics, Inc.
- Medtronic plc.
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