Nerve Repair and Regeneration Market was valued at USD 9.56 billion in 2020 and is expected to reach USD 22.01 Billion by year 2028, at a CAGR of 10.9%.
Nerve Repair and Regeneration Market was valued at USD 9.56 billion in 2020 and is expected to reach USD 22.01 Billion by year 2028, at a CAGR of 10.9%. The nervous system is comprised of the brain, spinal cord and peripheral nerves. The nerves are fragile and can easily be damaged due to external shocks and even injuries that might not seem severe. This is the reason why injury to the nervous system that includes neurodegenerative diseases and trauma are very common.
It is because of these factors that the nerve repair and regeneration segment under healthcare has always been the focus on scientific research and innovation. The categories of surgical requirements are vast, and so are the readily introduced surgical products in the market. The well-established healthcare industry is witnessing a constant shift towards more and more precision in complicated surgeries, whereas the government healthcare funding and improving insurance coverage in the emerging economies of Asia Pacific and Latin America are driving the market growth for both biomaterial and surgical devices. Despite the impressive scientific progress in this field, unskilled healthcare personnel and the bureaucratic procedures for obtaining medical certifications and approvals often hinder the market growth.
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Moreover, market growth is projected to register an upward trend with the growing awareness about mental disorders among people. In addition, increasing cases of Central Nervous System (CNS) disorders and healthy lifestyle trends are some key factors expected to continue to fuel market growth going ahead.
However, high cost of nerve repair and regeneration devices and unfavorable government policies are some major factors restraining global nerve repair and regeneration market revenue growth over the forecast period.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Companies considered and profiled in this market study:
AxoGen Inc., Baxter International Inc., Boston Scientific Corporation, Livanova PLC (Cyberonics Inc.), Medtronic PLC, Abbott Laboratories (St. Jude Medical, Inc.), Integra Lifesciences Holding Corporation, Orthod Group Ltd., Polyganics B.V., Stryker Corporation, Cyberonics Inc.
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Some Key Highlights From the Report:
- On the basis of surgery type, the market report is segmented into direct neuropathy, nerve grafting, neuromodulation surgery, and stem cell therapy. Among these, the ransomware segment accounted for largest revenue share in 2020 due to rise in ransomware attacks by cyber criminals to encrypt a victim’s files. The attacker demands few hundred dollars to thousands to restore access to the data.
- On the basis of product type, the market report is segmented into biomaterial, neuromodulation surgery devices, external, and internal. Among these, the neuromodulation surgery devices segment is expected to register a significantly rapid revenue CAGR during the forecast period due to the increasing neurological disorders such as epilepsy and peripheral nerve injuries.
- Asia Pacific nerve repair and regeneration market is expected to register fastest revenue growth rate over the forecast period due to increasing population suffering from nerve related diseases in the emerging economics such as India and China where hospitalization requires at large extent.
- Revenue from North America nerve repair and regeneration market is projected to account for a significantly larger revenue share and dominate other regional markets over the forecast period. This can be attributed to rapid technological advancements in the field of nerve repair and regeneration, and increasing cases of neurological disorders patients.
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Segments covered in the report:
For the purpose of this report, Reports & Data has segmented the global nerve repair and regeneration market on the basis of surgery type, product type and region:
Surgery Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Direct Neuropathy
- Epineural Repair
- Perineural Repair
- Group Fascicular Repair
- Nerve Grafting
- Autografts
- Allografts
- Xenografts
- Neuromodulation Surgery
- External
- Internal
- Stem Cell Therapy
Product Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Biomaterial
- Nerve conduits
- Nerve protectors
- Nerve wraps
- Nerve connectors
- Neuromodulation Surgery Devices
- External
- Transcutaneous Electrical Nerve Stimulation
- Transcranial Magnetic Stimulation
- Internal
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Vagus Nerve Stimulation
Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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