Nerve Repair and Regeneration Market Trends, Industry Size Analysis by Product, (Neurostimulation & Neuromodulation Devices and Biomaterials), by Application, (Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Nerve Grafting, Stem Cell Therapy and others), by End User (Hospitals & Clinics, Ambulatory Surgery Centers and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2024
The Nerve Regeneration Market is estimated to register a CAGR of 11.34% with a valuation of USD 12695.25 Million by 2024, during the forecast period, 2016-2024.
Industry Top Players
The industry players that are focusing on the adoption of new technology to modernize the process include –
Boston Scientific Corporation
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Nerve Regeneration Market Segmentation
The global nerve regeneration market is majorly divided on the basis of product, application, and end-user.
Based on the product, the global nerve regeneration market is classified into biomaterials, neurostimulation & neuromodulation devices. Further the neurostimulation & neuromodulation devices are sub-segmented into Internal and external neurostimulation devices. The biomaterials subsegment is bifurcated into nerve wraps, conduits, nerve connectors, and nerve protectors.
Further, the application segment, of the global market is diversified into neurostimulation and neuromodulation surgeries, stem cell therapy, direct nerve repair/neurorrhaphy, and nerve grafting. The nerve grafting is further sub-segmented into xenografts, autografts, and allografts.
The end-user segment is diversified into ambulatory surgery centers and hospitals & clinics.
Global Nerve Regeneration Market Revenue, by Product 2018 & 2024 (USD Million)
3 Market Dynamics
3.2.1 Rising Neurological Disorders
3.2.2 Increasing Geriatric Population
3.2.3 Technological Advancements
3.3.1 Stringent Regulatory Framework
3.3.2 High Cost
3.4.1 Entering Developing Economies
4 Market Factor Analysis
Key Findings of the Study:
- The global nerve regeneration market was valued at USD 6665.78 million in 2018, is estimated to grow at USD 25 million by 2024 at a CAGR of 11.34% during the assessment period.
- Americas accounted for the largest share of the global nerve regeneration market due to the presence of key market players in the region.
- Based on the product, the neurostimulation and neuromodulation devices segment accounted for the largest market share of USD 4,764.96 million in 2018.
- Based on end user, the hospitals & clinics segment dominated the market and projected to register the highest CAGR of 11.62% during the forecast period
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The Cleveland-based company, Checkpoint Surgical, bagged device designation for its nerve generation device. Its brief electrostimulation therapy (BEST) system is intended to regenerate peripheral nerves if used with surgical intervention in the case of nerve injury.
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