Global Nerve Repair and Regeneration Market Insights Forecasts to 2030

• The Nerve Repair and Regeneration Market Size was valued at USD 9.6 Billion in 2021.
• The market is growing at a CAGR of 11.56% from 2022 to 2030
• The global Nerve Repair and Regeneration Market is expected to reach USD 24.7 billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Nerve Repair and Regeneration Market Size is expected to reach USD 24.7 billion by 2030, at a CAGR of 24.7% during the forecast period 2022 to 2030.

The process of repairing or regrowing neural tissues and cells by producing new neurons, axons, synapses, and myelin is referred to as nerve repair, also known as neuroregeneration.

Neurostimulation, neuromodulator, and biomaterial devices are among the items offered by nerve repair and regeneration. These devices are used to treat traumatic or neurodegenerative conditions such multiple sclerosis, amyotrophic lateral sclerosis, Parkinson's disease, Alzheimer's disease, and multiple system atrophy. The ability of the brain to communicate with muscles and organs can be hampered by the fragility and ease with which the spinal cord, peripheral nerves, and brain can all sustain damage. These damages are fixed by nerve repair and regeneration products.

Impact of COVID 19 On Global Nerve Repair and Regeneration Market

COVID 19 has resulted into significant impact on the overall growth of the global Nerve Repair and Regeneration market over the forecast period. The SARS CoV 2 has witnessed nerve injuries among the infected patients which has resulted into the demand for nerve repair and regeneration market over the period of pandemic. For instance, according to the NCBI article published in March 2021 stated that the peripheral nerve can impact patients who are having COVID 19 secondary to postinfectious inflammatory neuropathy, compression injury, prone positioning related stretch, systematic neuropathy, and nerve entrapment from hematoma. These nerve injuries cases among the infected patients had led to a significant impact over the pandemic period. Apart from this the resumption of nerve repair as well as regeneration methods after the pandemic is anticipated to propel the market growth.

Key Market Drivers

The global nerve repair and regeneration market is mainly driven due to the increasing expenses of healthcare especially in the developing nations which has resulted into the expansion of nerve and regeneration. This expansion of the market is mainly due to the increasing knowledge of the use of nerve repair and regeneration technologies in order to treat neurological issues. In addition, many developing countries such as India, China, and Brazil attract new businesses to build their offices owing to the increasing number of people, expansion in the field of healthcare infrastructure, increasing cases of neurological disorders, and rising disposable income. Moreover, nerve regeneration and healing products are in huge demand these days as neurological diseases as well as nerve injuries cases are increasing day by day. Apart from this, the increasing number of elderly people as well as increasing cases of nerve issues are propelling the market growth.

Key Market Challenges

The huge gap between the demand and supply of neurologists and healthcare professionals has led to the scarcity of specialists. The nerves of the donors are mainly affected  by tissue morbidity which is matter of concern.

Market Segmentation

Product Insights

Neurostimulation and neuromodulation devices is dominating the market with the largest market share

On the basis of product, the global nerve repair and regeneration market is segmented into biomaterials, neurostimulation and neuromodulation devices. Among these, neurostimulation and neuromodulation devices segment is dominating the market with the largest market share over the forecast period. The growth is attributed by the increasing investments made by key market players in order to develop more advanced gadgets. For instance, Boston Scientific’s Pecision Montage MRI Spinal Cord Stimulator System has received approval from FDA in May 2016. The brand claims that this device reduced discomfort by around 70% more.

Biomaterials segment, on the other hand is witnessing the fastest market growth over the forecast period owing to the wide range of use of product, technological improvements, biocompatibility. Apart from this, the modern materials like biodegradable polymers are going to improve fractures and spinal stability by decreasing the hospitalization rates.

Application Insights

Neurostimulation and neuromodulation surgeries segment holds the largest market share over the forecast period

On the basis of application, the global nerve repair and regeneration market is segmented into direct nerve repair or neurorrhaphy, stem cell therapy, nerve grafting, neurostimulation and neuromodulation surgeries. Among these, the neurostimulation and neuromodulation surgeries segment holds the largest market share over the forecast period. The growth is attributed to the various initiatives taken by the government to conduct clinical studies of biomaterials. Apart from this, the segment is also driven by the commercialization of the good within the upcoming years due to the huge investment made by market players and research institutes. For instance, Axonics Modulation Technologies has got clearance for its sacral nerve modulation device in the European Union.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period. The growth is attributed to the favourable health insurance coverage received by the people as well as increasing cases of neurological disorders. Apart from this, the strong presence of the key market players, technologically advanced devices are easily available in this region which are contributing towards the growth of the regional segment. For instance, Reclaim DBS therapy was launched in Medtronic plc in February 2016 in order to treat obsessive and compulsive disorder.

Asia Pacific, on the other hand is witnessing the fastest market growth over the forecast period owing to the expansion of the target market, lots of initiatives taken by the government, increasing awareness among patients, launch of advanced technologies, and presence of unmet medical demand. The main nations supporting regional development are China, India, Japan, Australia, and Singapore. In December 2015, the Australian Therapeutics Good Administration (TGA) granted approval for clinical studies to evaluate a Parkinson's disease treatment method based on human parthenogenetic stem cells (ISC-hpNSC). This authorization fueled the local market for stem cell therapy.

Recent Market Developments

• In 2022, the FDA has given approval to the Verse Neural Navigator developed by Boston Scientific. This is a Stimview XT image guided system that is used to conduct deep brain stimulation therapy in Parkinson’s patients.
• In 2021, Abbott launched NeuroSphere Virtual Clinic to conduct remote treatment and administration of patients who are going through neuromodulation.

List of Key Companies

• Abbott Laboratories
• Boston scientific inc
• Integra Lifesciences Corporation
• Medtronic plc
• Axogenic
• Stryker Corporation
• Checkpoint Surgical
• Polyganics
• Synovis Micro Companies Alliance
• OrthoMed, Inc

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Nerve Repair and Regeneration Market based on the below-mentioned segments:

Nerve Repair and Regeneration Market, Product Analysis

• Biomaterials
• Neurostimulation and Neuromodulation Devices

Nerve Repair and Regeneration Market, Application Analysis

• Direct Nerve Repair/ Neurorrhaphy
• Stem Cell Therapy
• Nerve Grafting
• Neurostimulation and Neuromodulation Surgeries

Nerve Repair and Regeneration Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa