According to the latest report by IMARC Group “Nerve Repair and Regeneration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global nerve repair and regeneration market size reached US$ 6.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2027, exhibiting a growth rate (CAGR) of 11.4% during 2022-2027.
Nerve repair and regeneration (NRaR) is performed to support the replacement of injured nervous tissue caused by trauma or neurodegenerative diseases. It promotes the regrowth of new neurons, myelin, axon, synapses, and glial cells to restore normal nerve functionalities. NRaR employs biomaterials, along with neurostimulation and neuromodulation devices, for conducting nerve grafting, direct Neurotherapy, stem cell therapy, transcranial magnetic, and sacral nerve stimulation. As a result, they are extensively applied in cell relocation studies, material sciences, and nanotechnology and bioengineering fields.
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The increasing prevalence of neurological disorders and rising incidents of nervous injuries, especially in the geriatric population, represent the key factors contributing to the global NRaR market growth. In line with this, extensive research and development (R&D) activities in the field of neurology to introduce advanced NRaR products are further catalyzing market growth. Moreover, rising healthcare expenditure and the widespread adoption of effective management and treatment strategies, such as endogenous and exogenous stem cell transplantation, are positively influencing the market growth.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Abbott Laboratories
- Alafair Biosciences Inc.
- AxoGen Inc.
- Baxter International Inc.
- Boston Scientific Corporation
- Collagen Matrix Inc.
- Integra Lifesciences Corporation
- Medtronic plc
- Polyganics BV
- Soterix Medical Inc.
- Stryker Corporation
- Synapse Biomedical Inc.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Surgery:
- Direct Nerve Repair/Neurorrhaphy
- Nerve Grafting
- Stem Cell Therapy
- Neurostimulation and Neuromodulation Surgeries
Breakup by Product:
- Neurostimulation and Neuromodulation Devices
- Spinal Cord Stimulation Devices
- Deep Brain Stimulation Devices
- Sacral Nerve Stimulation Devices
- Vagus Nerve Stimulation Devices
- Gastric Electric Stimulation Devices
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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