Nerve repair or regeneration is joining of the ends of an injured nerve through direct repair, nerve tube, or nerve graft and regrowth of nervous tissues or cells. The peripheral nervous system has a natural tendency for repair and regeneration, whereas, the central nervous system is, mostly incapable of self-repair and regeneration. Nerves can be damaged as a result of accidental injury, medical conditions like diabetes and carpal tunnel syndrome, autoimmune diseases including lupus and rheumatoid arthritis and even neurodegenerative diseases such as Parkinson’s diseases or Alzheimer’s disease.
The increasing prevalence of nerve damage due to various conditions drives the market growth. The problems associated with diabetes are elevating in every country. According to the International Diabetes Federation, in 2019, approximately 463 million adults (20–79 years) were living with diabetes; expected to rise to 700 million by 2045. Neuropathic pain occurs after a primary lesion or disease of the nervous system. It is found in a recent study that in general population is anticipated to have its prevalence ranging between 3% and 17%. Moreover, according to Alzheimer’s Association, the global population older than 65 years suffering from Alzheimer’s is expected to reach 13.8 million by 2050 up from approximately 5.8 million in 2020.
Global Nerve Repair and Regeneration Market is evaluated approximately US$ 5.72 billion in 2019 and is estimated to expand with an elevating growth rate of more than 9.15% over the forecast period 2020-2027.
This report forecasts growth of the Nerve Repair or Regeneration Market at global level and provides an insight of the latest market trends. For the current analysis, Report Ocean has segmented the market by products and by application.
- Nerve Conduits
- Nerve Wraps
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Transcutaneous Electrical Nerve Stimulation (Tens)
- Spinal Cord Stimulation
- Transcranial magnetic stimulation (TMS)
- Nerve Grafting
- Stem Cell Therapy
Rising cases of neurological disorders, increasing geriatric population, strong product pipeline and rising government support for neurologic disorders are the key factors driving the market growth. However, stringent rules for the product approval hinders the growth of the market over the forecast period of 2020-2027.
Based on product, neurostimulation and neuromodulation devices segment estimated to dominate the market, owing to their traits related to drug-free solutions and high success rate of relief over other treatments. While on the basis of application, the neurorrhaphy segment holds the largest market share in 2019, owing to its property of rapid reinnervation and faster return of function. The postoperative risks and the limited graft availability may hinder the expansion of nerve grafting segment.
North America is the leading region for Nerve Repair and Regeneration Market owing to the growing recognition of the treatments available for nerve repair and deep-rooted healthcare support in the region. Whereas, Asia-Pacific is also anticipated to grow over the forecast period 2020-2027, due to rising geriatric population and increasing prevalence of neurological disorders.
Major market players of the Nerve Repair and Regeneration market included in this report are Abbott Laboratories, Medtronic, PLC., Baxter International, Inc., Boston Scientific Corporation, AxoGen, Inc., Integra Life Sciences, NeuroPace, Inc., LivaNova, PLC., Soterix Medical, Inc. and others.
Radiofrequency ablation (RFA), a neuromodulator device developed by Boston Scientific Corporation is a safe method for interrupting pain signals, such as those arising due to defects in joints in the spine, genicular nerves in the knee, and other damages. It is used to heat up a small area of nerve tissue which then interrupt the pain signals from that particular region. The device provides long term pain relief.
Avance Nerve Graft, developed by AxoGen, Inc. is an engineered nerve allograft designed for the surgical repair of peripheral nerve which can no longer support regeneration. In October 2018, the U.S. Food and Drug Administration (FDA) has considered Avance® Nerve Graft as the Regenerative Medicine Advanced Therapy (RMAT).
The RNS® System developed by NeuroPace Inc. is intended to prevent the onset of seizures which causes neural injuries. It comprises of small, implantable neurostimulator which is connected with wires located at the source of seizure onset. The device received the US FDA approval in March, 2020. It can monitor the brain signals and give responses in case any unusual activity is detected.
The NeuraWrap™ Nerve Protector developed by Integra LifeSciences is a bioresorbable collagen nerve repair conduit engineered especially for the treatment of injured or compressed nerves. It stays in place of implantation throughout the active phase of tissue healing and owing to its porous outer layer the encasement is wholly resorbed after tissue response has resolved. The product provides a safe environment for nerve repair, behaving as an interface between damaged nerves and surrounding tissue.
Impact of Covid-19 on Nerve Repair or Regeneration Market
COVID-19 has adversely affected the healthcare services in most countries around the globe; the worst affects could be seen over the US, Italy, India, Spain, the UK, Russia, Germany, and Iran. Its major impact is on the biomaterials segment of the nerve repair and regeneration market due to possible reductions in the demand as a result of reduced cases of peripheral nerve injury. According to PubMed studies, vehicular accidents are major drivers of biomaterials in the market as these are the most common cause of peripheral nerve injuries. However, due to the restrictions in the movement as safety precautions to control the spread of COVID-19, vehicular traffic has greatly reduced and, so has the frequency of road accidents. Due to increasing number of COVID-19 patients, other ailments and procedures are not getting as much attention and many healthcare units are postponing such treatments, which is affecting the market for neurostimulation and neuromodulation.
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