Nerve Repair and Regeneration Market Report by Surgery (Direct Nerve Repair/Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, Neurostimulation and Neuromodulation Surgeries), Product (Biomaterial, Neurostimulation and Neuromodulation Devices), End User (Hospitals and Clinics, Ambulatory Surgical Centers), and Region 2024-2032
Nerve Repair and Regeneration Market Overview 2024-2032:
The global nerve repair and regeneration market size reached USD 8.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 20.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
USD 8.6 Billion
Market Forecast in 2032
USD 20.7 Billion
Market Growth Rate (2024-2032)
10%
Nerve repair and regeneration (NRaR) refers to a neural tissue engineering process used for the treatment of a nerve injury. It facilitates the regrowth of new neurons, glial cells, myelin, axons and synapses. It also aids in restoring the normal functioning of the nerve after nerve damage, which is usually caused by pressure, blunt trauma, stretching or cutting of a nerve. NRaR involves the use of biomaterials and various neuro-stimulation and neuromodulation devices. Biomaterials include nerve conduits, nerve protectors, nerve wraps, and nerve connectors. They are used for direct neuropathy, nerve grafting, stem cell therapy and transcutaneous, transcranial magnetic, spinal cord, deep brain, sacral nerve and vagus nerve stimulation.
Nerve Repair and Regeneration Market Trends:
The increasing prevalence of chronic neurological disorders, such as Alzheimer's, Parkinson's disease, amyotrophic lateral sclerosis, multiple sclerosis and multiple system atrophy, is among the key factors driving the market growth. Moreover, the rising geriatric population, which is more susceptible to such ailments, and escalating instances of nerve injuries are providing a thrust to the growth of the market. Hospitals, ambulatory surgical centers (ASCs) and other healthcare institutes across the globe are providing novel NRaR solutions for timely diagnosis and treatment of neurological disorders. Additionally, various technological advancements in stem cell therapy and the development of innovative neuromodulation devices, are acting as other growth-inducing factors. Endogenous stem cells are being widely used in neurogenesis, neural repair and exogenous neural stem cell transplantation for effective repair and replacement of damaged tissues in the central nervous system. Other factors, including rising healthcare expenditures of the masses, along with the significant improvements in the medical infrastructure, especially in the developing economies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global nerve repair and regeneration market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on surgery, product and end user.
Breakup by Surgery:
Direct Nerve Repair/Neurorrhaphy
Nerve Grafting
Stem Cell Therapy
Neurostimulation and Neuromodulation Surgeries
Breakup by Product:
Biomaterial
Neurostimulation and Neuromodulation Devices
Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Sacral Nerve Stimulation Devices
Vagus Nerve Stimulation Devices
Gastric Electric Stimulation Devices
Breakup by End User:
Hospitals and Clinics
Ambulatory Surgical Centers
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global nerve repair and regeneration market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
Abbott Laboratories
Alafair Biosciences Inc.
AxoGen Inc.
Baxter International Inc.
Boston Scientific Corporation
Collagen Matrix Inc
Integra Lifesciences Corporation
Medtronic plc
Polyganics BV
Soterix Medical Inc.
Stryker Corporation
Synapse Biomedical Inc.
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
Billion USD
Segment Coverage
Surgery, Product, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Abbott Laboratories, Alafair Biosciences Inc., AxoGen Inc., Baxter International Inc., Boston Scientific Corporation, Collagen Matrix Inc., Integra Lifesciences Corporation, Medtronic plc, Polyganics BV, Soterix Medical Inc., Stryker Corporation and Synapse Biomedical Inc.
Customization Scope
10% Free Customization
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global nerve repair and regeneration market was valued at USD 8.6 Billion in 2023.
We expect the global nerve repair and regeneration market to exhibit a CAGR of 10% during 2024-2032.
The increasing prevalence of chronic neurological disorders, such as Alzheimer's, Parkinson's disease, amyotrophic lateral sclerosis, etc., is primarily driving the global nerve repair and regeneration market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective nerve injury treatment procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for nerve repair and regeneration.
Based on the surgery, the global nerve repair and regeneration market can be categorized into direct nerve repair/neurorrhaphy, nerve grafting, stem cell therapy, and neurostimulation and neuromodulation surgeries. Currently, neurostimulation and neuromodulation surgeries account for the majority of the global market share.
Based on the product, the global nerve repair and regeneration market has been segregated into biomaterial and neurostimulation and neuromodulation devices, where neurostimulation and neuromodulation devices currently exhibit a clear dominance in the market.
Based on the end user, the global nerve repair and regeneration market can be bifurcated into hospitals and clinics and ambulatory surgical centers. Currently, hospitals and clinics hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global nerve repair and regeneration market include Abbott Laboratories, Alafair Biosciences Inc., AxoGen Inc., Baxter International Inc., Boston Scientific Corporation, Collagen Matrix Inc., Integra Lifesciences Corporation, Medtronic plc, Polyganics BV, Soterix Medical Inc., Stryker Corporation, and Synapse Biomedical Inc.
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