North America is expected to dominate the global nerve repair and regeneration market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from neurological diseases and improvement in the healthcare facilities.
The growth of the global nerve repair and regeneration market is driven by an increase in the incidence of neurological diseases & peripheral nerve injuries in the geriatric population, the launch of innovative products for nerve repair & regeneration, and surge in government expenditure in the healthcare sector and favorable reimbursement policies. Additionally, growth in patient awareness and the emergence of healthcare expenditure in emerging economies would provide lucrative opportunities for emerging marking players in the near future. However, the lack of skilled professionals and the high cost of devices is set to hamper the market growth.
Global Nerve Repair and Regeneration Market are expected to reach $13,938 million by 2023, growing at a CAGR of 13.0 % during the forecast period, 2019-2023.
Based on the product, the report bifurcates the market into biomaterials and neuromodulation surgery devices. The neuromodulation surgery devices segment contributed the highest share in 2016, owing to the wide range of product offering for nerve repair. However, the nerve conduits sub-segment in the biomaterials segment is projected to grow at a CAGR of 11.7% during the forecast period. Regionally, North America accounted for over two-fifths of the global market revenue in 2016, owing to growth in the number of patients suffering from neurological disorders.
The complex, delicate structures that make up the nervous system-the brain, spinal cord, and peripheral nerves are susceptible to various types of injury ranging from trauma to neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis, multiple sclerosis, and multiple system atrophy. Peripheral nerves link your brain and spinal cord to the other parts of your body, such as your muscles and skin.
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The report segments the market by surgery, product, and geography. Based on surgery, the market is categorized into direct neuropathy, nerve grafting, stem cell therapy, and neuromodulation surgery. In 2016, the neuromodulation surgery segment generated the highest revenue in the global market, owing to the increase in patients suffering from neurological disorders. The segment is expected to continue its dominance throughout 2025.
The report also profiles key players involved in the global nerve repair and regeneration market, such as
- AxoGen Inc. (U.S.),
- Baxter International (U.S.),
- Boston Scientific Incorporation (U.S.),
- Cyberonics Inc. (U.S.),
- Integra Lifesciences Corporation (U.S.),
- Medtronic Plc. (U.S.),
- Orthomed S.A.S. (France),
- Polyganics B.V. (Netherlands),
- Jude Medical (U.S.),
- Stryker Corporation (U.S.).
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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