According to the new market research report “Nerve Repair and Regeneration Market by Products (Neuromodulation Devices (Deep Brain Stimulation, Vagus Nerve Stimulation), Biomaterials (Nerve Conduits, Nerve Wraps), Application (Neurorrhaphy, Nerve Grafting, Stem Cell Therapy) – Global Forecast to 2027″, published by MarketsandMarkets™, the global Nerve Repair Market is projected to reach USD 11.6 billion by 2027 from USD 6.5 billion in 2022, growing at a CAGR of 12.1% from 2022 to 2027.
The Growth in this Nerve Repair Market can be attributed to the massive geriatric population, increasing research investments on the neurological disorders, high volume of nerve injury cases, and the high prevalence of neurological diseases.
Browse in-depth TOC on “Nerve Repair Market and Nerve Regeneration Market”
313 – Tables
42 – Figures
236 – Pages
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Key Companies:
The laboratory informatics market is diversified and highly competitive, with a large number of players competing for market space. Thermo Fisher Scientific Inc. (US), LabVantage Solutions, Inc. (US), LabWare (US), Abbott Informatics (US), LabLynx, Inc. (US), Waters (US), Agilent Technologies, Inc. (US), Autoscribe Informatics (US), Dassault Systèmes (Paris, France), LABWORKS LLC (US), and PerkinElmer Inc. (US) are some of the prominent players in the market.
Drivers: high incidence of nerve injuries; Rising focus on neuromodulation & neurostimulation technologies; expanding geriatric population and increasing government research funds for neurological diseases
The increasing prevalence of neurological disorders and high volume of cases of nerve injuries places a great demand for nerve repair & regeneration products. The geriatric population across the globe is also expanding. The vast geriatric population base and the massive prevalence and incidence of the nerve related diseases among them drives the growth of the market. The market players and researchers are more focused on advancing neurostimulation and neuromodulation technologies such as next-generation neurostimulation devices, collaborations among the companies to launch advanced products and the incoming latest technologies are pushing the growth of the market. The government investments into the studies of neurological disorder research further propels the growth rate of the market.
Opportunities: Emerging markets, Advances in stem cell therapy in nerve repair & regeneration; and growing research projects in neurology
The emerging economies such as India, China, and Brazil offer lucrative potentials in the market with their vast population base, rising incidence of neurological diseases, improving healthcare infrastructure and expenditure. The emerging technologies of stem cell therapy also offer vast opportunities of growth to the market, with several stem cell therapy studies under trial for nerve repair & regeneration purposes. The research activities in the area of neurology have been increased and are increasing from past few years.
In 2021, Neurostimulation and Neuromodulation Devices accounted for the largest share of the nerve regeneration market, by product.
By product, the nerve repair & regeneration market is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment is estimated to grow at the highest growth rate during the forecast period with the increasing government investments for neurologic disorders studies, and the favourable reimbursement.
By neurostimulation and neuromodulation application, internal neurostimulation and neuromodulation accounted for the largest market share in 2021.
Based on the neurostimulation and neuromodulation application, the nerve repair and regeneration market is segmented the neurostimulation and neuromodulation devices market is segmented into internal neurostimulation and neuromodulation applications and external neurostimulation and neuromodulation applications. The internal neurostimulation neuromodulation segment is expected to hold the largest share and is expected to register the highest CAGR during the forecast period. The largest share and high growth rate are driven by the increasing incidence of neurological disorders across the globe is driving the growth of this segment.
By Biomaterials application, direct nerve repair/neurorrhaphy accounted for the largest market share in 2021.
Based on application, the nerve repair & regeneration market is segmented into direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy. In 2021, the direct nerve repair segment accounted for the largest share of the market. This can be attributed to the increasing incidence of neurological disorders across the globe.
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North America was the largest regional market for nerve repair & regeneration market in 2021.
The nerve repair market is segmented into five major regions, namely, Europe, North America, the Asia Pacific, Rest of the World (Latin America, and Middle East & Africa). North America held the largest share of the nerve regeneration market in 2021, followed by Europe. The largest market share of North America is driven by the high incidence of strong presence of industry players, neurological disorders, and favourable reimbursement policies in the region.
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