How Has the Nerve Repair And Regenerative Market Evolved Historically and What is its Current Size?
The nerve repair and regenerative market has seen considerable growth due to a variety of factors.
•The market size for nerve repair and regeneration has seen rapid expansion in the recent past. It is projected to rise from $9.97 billion in 2024 to $10.98 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.2%.
The significant growth observed in the historic period is due to factors such as a rise in nerve injury incidents, an aging population coupled with neurodegenerative diseases, an increase in peripheral nerve surgeries, improved awareness and diagnosis rates, as well as an inclination of patients towards minimally invasive procedures.
What is the Forecasted Market Size and CAGR for the Nerve Repair And Regenerative Market?
The nerve repair and regenerative market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for nerve repair and regeneration is projected to witness rapid expansion in the upcoming years, rising to $17.09 billion in 2029, with a compound annual growth rate (CAGR) of 11.7%.
The growing concentration on stem cell therapies, rise in nerve injuries related to sports, advancements in gene therapy methods, government schemes for rare diseases, and adoption of patient-focused healthcare systems are factors contributing to growth during the predicted period. Notable tendencies for the forecast period encompass progress in neurostimulation technologies, utilisation of stem cells for nerve revitalization, nerve repair nanotechnology, strategic collaborations and partnerships, amalgamation of bioengineering, and robotics.
What Are The Key Drivers Fueling Growth In The Nerve Repair And Regenerative Market?
The upsurge in instances of neurological disorders is predicted to fuel the evolution of the nerve repair and regenerative market. Neurological disorders involve ailments that significantly impact the function or structure of the nervous system, which includes the brain, spinal cord, and peripheral nerves. The main factors driving the rise in neurological disorders are an aging population, lifestyle modifications, genetic influences, and sedentary habits. Nerve repair and regenerative strategies are designed to help heal and regenerate damaged nerves, improving recovery chances, and minimizing neurological disorder occurrences, thereby boosting the growth of the nerve repair and regenerative market. For example, in February 2023, a report from the World Health Organization (WHO), a UN agency, indicated epilepsy as one of the most common neurological disorders globally. As per the report, over 50 million people globally are affected by epilepsy, a neurological disorder causing recurrent seizures, signifying its extensive influence. Importantly, around 80% of the people diagnosed with epilepsy live in lower to middle-income countries. Thus, the rise in instances of neurological disorders is stimulating the growth of the nerve repair and regenerative market.
What Are The Principal Market Segments In The Global Nerve Repair And Regenerative Industry?
The nerve repair and regenerative market covered in this report is segmented –
1) By Product: Biomaterials, Neurostimulation And Neuromodulation Devices
2) By Application: Direct Nerve Repair Or Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, Neurostimulation And Neuromodulation Surgeries, Other Applications
3) By End-Users: Hospitals And Clinics, Ambulatory Surgical Centers (ASCs), Research And Academic Institutions, Specialty Clinics, Other End-Users
Subsegments:
1) By Biomaterials: Nerve Conduits, Scaffolds, Hydrogels, Nerve Grafts
2) By Neurostimulation And Neuromodulation Devices: Peripheral Nerve Stimulators, Spinal Cord Stimulators, Transcranial Magnetic Stimulation Devices, Deep Brain Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators
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Which Emerging Market Trends Are Altering The Nerve Repair And Regenerative Sector?
The trend of product innovation is becoming increasingly prevalent in the nerve repair and regenerative market. Big players in the market are focusing on the development of novel products to solidify their market stance. For instance, Abbott, a medical device enterprise situated in the US, obtained FDA approval for their ProClaim plus spinal cord stimulation system with FlexBurst therapy, in August 2022. The innovative product is purpose-built to offer relief to individuals suffering from chronic pain due to various conditions, including some related to nerve disorders. The ProClaim Plus system offers the benefit of managing pain across multiple sites, allowing doctors to address the intricate pain patterns that arise with certain neurological disorders. This approval indicates progress in the pain management sector and is aimed at enhancing life quality by minimizing pain and boosting general wellness.
Who Are the Key Players in the Nerve Repair And Regenerative Market?
Major companies operating in the nerve repair and regenerative market include:
• Neuronetics Inc.
• Abbott Laboratories
• Medtronic PLC.
• Stryker Corporation
• Baxter International Inc.
• Boston Scientific Corporation
• Integra LifeSciences Holdings Corporation
• LivaNova PLC
• Nevro Corporation
• Medartis Holding AG
• AxoGen Inc.
• NeuroPace Inc.
• BioWave Corporation
• Soterix Medical Inc.
• Checkpoint Surgical Inc.
• Synapse Biomedical Inc.
• Nuvectra Corp.
• Synovis Micro Companies Alliance Inc.
• NeuroSigma
• Regenity Biosciences
• Epineuron Technologies Inc.
What are the Regional Insights into the Nerve Repair And Regenerative Market?
North America was the largest region in the nerve repair and regenerative market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nerve repair and regenerative market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
