In 2021, the neurostimulation and neuromodulation devices segment held the largest share of the nerve repair and regeneration market and the market for the biomaterials segment is expected to grow at the highest CAGR of 9.8% during 2022-2028. In 2021, North America held the largest market share. However, Asia Pacific region is estimated to grow at the fastest CAGR of 10.2% during forecast.
New York, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Nerve Repair & Regeneration Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product {Neurostimulation & Neuromodulation Devices [Internal Neurostimulation Devices (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, and Gastric Electrical Stimulation) and External Neurostimulation Devices (Transcutaneous Electrical Nerve Stimulation Devices, Transcranial Magnetic Stimulation Devices, Respiratory Electrical Stimulation Devices)] and Biomaterials [Nerve conduits, Nerve wraps, Nerve Connectors, and Other Biomaterials]} and Application {Neurostimulation & Neuromodulation Applications [Internal neurostimulation & neuromodulation and External neurostimulation & neuromodulation], and Nerve Repair & Regeneration Applications [Direct Nerve Repair/Neurorrhaphy (Epineural Repair, Perineural Repair, and Group Fascicular Repair), Nerve Grafting (Autografts, Allografts, and Xenografts), and Stem cell therapy]}”, the global nerve repair & regeneration market size is projected to reach USD 12,514.06 million by 2028 from USD 6,607.71 million in 2021; it is expected to grow at a CAGR of 9.7% from 2022 to 2028.
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Nerve Repair and Regeneration Market Report Scope & Strategic Insights:
No. of Charts & Figures
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Global Nerve Repair & Regeneration Market: Competitive Landscape and Key Developments A few companies in the global nerve repair & regeneration market are Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV. The companies operating in the global nerve repair & regeneration market implement various growth strategies, such as product launches, expansions, and product upgrades. Similarly, several companies are implementing inorganic strategies such as acquisitions, collaboration, and partnerships.
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In Aug 2021, Checkpoint Surgical, Inc. launched the NeuroShield Chitosan Nerve Wrap to expand its intraoperative nerve care product line. The NeuroShield Wrap marks the company's first product in a planned line of chitosan-based biological implants to support nerve healing. Adding the product complements the existing product portfolio of Checkpoint Surgical, including the company’s flagship Checkpoint Nerve Stimulator/Locator, the leading nerve stimulation device for intraoperative nerve protection and repair.
In Mar 2021, Abbott launched NeuroSphere Virtual Clinic in the US, a first-of-its-kind technology enabling patients to interact with physicians, ensure proper functionality and settings, and receive new treatment settings remotely as per requirement. The NeuroSphere Virtual Clinic can extend access to optimal treatment for patients with movement disorders or chronic pain who don't live near a care provider, who can not access care easily or are unable to visit a physician due to circumstances such as COVID-19.
The nerve repair and regeneration market growth is attributed to the growing incidence of nerve injuries and the high prevalence of neurological disorders, the growing geriatric population and rising prevalence of age-associated neurological disorders, and increasing funding by private and government organizations for research in neurology. However, the absence of trained professionals is hampering the growth of the global nerve repair & regeneration market.
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Global Nerve Repair & Regeneration Market: Key Insights – Future Trend Nerve repair and regeneration offers products such as neuromodulators & neurostimulation devices, and biomaterials. These devices treat neurodegenerative or traumatic disorders such as Parkinson's disease, Alzheimer's disease, sclerosis, multiple system atrophy, and amyotrophic lateral sclerosis. Therefore, market players are launching various products such as internal neurostimulation devices, external neurostimulation devices, nerve conduits, nerve wraps, nerve connectors, and other biomaterials to enhance the treatment output of nerve repair and regeneration.
A few of the recent developments related to the nerve repair and regeneration market are mentioned below:
In July 2022, Checkpoint Surgical launched the Checkpoint Edge Nerve Cutting Kit, expanding the strength of the intraoperative nerve care portfolio of the company. The Checkpoint Edge Nerve Cutting Kit is the first offering in the planned portfolio of nerve-specific instruments by Checkpoint Surgical, with further expansion planned in the future.
In April 2022, Boston Scientific Corporation received US Food and Drug Administration (FDA) approval for its latest image-guided programming software, Vercise Neural Navigator with STIMVIEW XT. The product is developed in collaboration with Brainlab AG. STIMVIEW XT allows physicians, in real-time, the capacity to visualize both stimulation modeling and lead placement of the brain anatomy of their patients having an essential tremor or Parkinson’s disease.
In Mar 2022, Integra LifeSciences Holding Corporation launched the NeuraGen 3D Nerve Guide Matrix, which is a resorbable implant to repair peripheral nerve discontinuities. NeuraGen 3D is a nerve repair product specifically engineered to develop an optimized environment that enables a greater complete functional recovery following mid-gap nerve repair in comparison to hollow nerve conduits alone.
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In Jan 2022, Medtronic plc received US Food and Drug Administration approval for its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator treating chronic pain associated with diabetic peripheral neuropathy (DPN).
Thus, the active participation of market players in product innovation and development and increase in approvals of products are likely to fuel the market growth in the coming years.
Global Nerve Repair & Regeneration Market: Product Overview Based on product, the nerve repair & regeneration market is bifurcated into neurostimulation & neuromodulation devices and biomaterials. Neurostimulation & neuromodulation devices segment is further bifurcated into internal neurostimulation devices and external neurostimulation devices. Internal neurostimulation devices segment is further subsegmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and gastric electrical stimulation. External neurostimulation devices is further subsegmented into transcutaneous electrical nerve stimulation devices, transcranial magnetic stimulation devices, respiratory electrical stimulation devices. The neurostimulation and neuromodulation devices segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The growing prevalence of neurological disorders, increasing application of neurostimulation and neuromodulation devices, and rapid advancements are driving the market growth of the nerve repair & regeneration market.
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Browse Adjoining Reports: Nerve Repair Biomaterial Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Nerve Protection, Nerve Repair); Application (Epineural Nerve Repair, Perineural Nerve Repair, Group Fascicular Repair); End User (Hospitals and Clinics, Ambulatory Surgery Centers, Other) and Geography
Nerve Repair and Re-generation Biomaterials Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Nerve Conduits, Nerve Wraps, Nerve Graft, Others); Application (Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, Others) and Geography
Neurostimulation Devices Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product (Deep Brain Stimulation Device, Spinal Cord Stimulation Device, Sacral Nerve Stimulation Device, Vagus Nerve Stimulation Device, and Gastric Electric Stimulation Device), Application (Pain Management, Epilepsy, Depression, Parkinson's Disease, Essential Tremor, Urinary and Fecal Incontinence, and Other Applications), and Geography
Neuromodulation Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology (External (Non-Invasive) Neuromodulation, and Internal Neuromodulation); Application (Chronic Pain Management, Failed Back Syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinson
Neuromodulation Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Internal, External); Application (SCS, DBS, VNS, SNS, GES, TENS, TMS); Biomaterial (Metallic, Polymeric, Ceramic); End-User (Hospitals, Clinics, Homecare) and Geography
Biomaterials Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Metallic, Ceramic, Polymers, Natural); Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Wound Healing, Neurological disorders, Tissue Engineering, Ophthalmology)
Biomaterials Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ( Natural Biomaterials, Polymers Biomaterials, Ceramic Biomaterials, Metallic Biomaterials ); Application ( Orthopedic, Cardiovascular, Dental, Ophthalmology, Tissue Engineering, Other ) and Geography
Deep Brain Stimulation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Single Channel Deep Brain Stimulator, Dual Channel Deep Brain Stimulator.); Application (Parkinson's Disease, Tremor, Depression, Alzheimer's Disease, Dystonia and Tourette Syndrome); End User (Hospitals, Research Centres) and Geography
Transcranial Magnetic Stimulator (TMS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Single or Paired Pulse TMS, Repetitive TMS (rTMS)); Age Group (Adults, Children); Application (Research, Diagnostic, Therapeutic), and Geography
Implantable Neurostimulation Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Technology ( spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electric stimulation (GES), vagus nerve stimulation (VNS), others ); Application ( pain management, epilepsy, Parkinson's, urinary and fecal incontinence, others )
Low-Frequency Sine Wave Neurostimulation Therapy Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Percutaneous treatment, Implantation); Application (Urinary impulse, Interstitial cystitis, Idiopathic constipation) and Geography
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