The nerve repair & regeneration market is projected to reach US$ 12,514.06 million by 2028 from US$ 6,607.71 million in 2021; it is expected to grow at a CAGR of 9.7% from 2022 to 2028.
Nerves, along with the brain and spinal cord, are the foundation of the nervous system. Nerve repair is a method that involves the exploration of the injured nerve and removal of injured tissue or scar from the nerve endings. At the same time, nerve regeneration refers to the regrowth or repair of nervous tissues, cells, or products. The regeneration mechanism may include the generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products, including neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
The nerve repair & regeneration market is segmented based on product, application, and geography. By geography, the nerve repair & regeneration market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report offers insights and in-depth analysis of the market, emphasizing parameters such as market trends, technological advancements, market dynamics, and the competitive landscape of the world’s leading market players.
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Nerve Repair & Regeneration Market: Strategic Insights
Market Size Value in US$ 6,607.71 Million in 2021 Market Size Value by US$ 12,514.06 Million by 2028 Growth rate CAGR of 9.7% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2021
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Nerve Repair & Regeneration Market: Strategic Insights
| Market Size Value in | US$ 6,607.71 Million in 2021 |
| Market Size Value by | US$ 12,514.06 Million by 2028 |
| Growth rate | CAGR of 9.7% from 2022 to 2028. |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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Lucrative Regions for Nerve Repair & Regeneration market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growing Incidence of Nerve Injuries Drives Nerve Repair & Regeneration Market Growth
Nerve injuries are widespread and may have severe implications for the patient. Most nerve injuries result from either chronic cumulative trauma or acute injury. According to the National Center for Biotechnology Information, traumatic brain injury (TBI) may result from trauma ranging from a simple blow to the head to a penetrating injury to the brain. Furthermore, as per the same source in the US, around 1.7 million people suffer a traumatic brain injury, with adolescents between ages 15 & 19 and adults aged 65 & older among the more likely to sustain a traumatic brain injury in 2019.
Neurological disorders such as Parkinson's disease, dementia, epilepsy and seizures, autism, brain tumors, and cerebral palsy, Alzheimer's disease, among others, affect the brain and nerves of the human body. In the US, the prevalence of neurological disorders is increasing. According to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is one of the top 10 leading causes of death in the US. In 2020, Alzheimer's disease affected 5.8 million people in the US. Similarly, according to the Parkinson's Foundation Prevalence Project, it was estimated that 930,000 individuals with Parkinson's Disease present in the US by 2020.
Dementia is currently the seventh leading cause of death among all diseases and one of the leading causes of disability and addiction in older people worldwide. According to the WHO, more than 55 million people live with dementia worldwide, with nearly 10 million new cases yearly. Dementia is caused by various diseases and injuries that primarily or secondarily affect the brain. Alzheimer's is the most common form of dementia and may contribute to 60–70% of cases. Thus, the growing incidence of nerve injuries and the high prevalence of neurological disorders is expected to drive the nerve repair & regeneration market during the forecast period.
Growing Geriatric Population Contributes Significantly to Market Growth
Some neurologic disorders such as neuropathy, Alzheimer's disease, Parkinson's disease, and strokes are more common in the elderly, and their prevalence increases with higher life expectancies. According to the WHO, the population is aging rapidly worldwide. Between 2015 and 2050, the world's population over 60 years will nearly double, from 12% to 22%, and mental and neurological disorders among older adults are likely to account for 6.6% of the total disability-adjusted life year (DALYs) for this age group. Also, as per the same source, approximately 15% of adults aged 60 and over have a mental disorder.
According to the Centers for Disease Control and Prevention (CDC), Alzheimer's is the fifth leading cause of death in people 65 years and above. Also, the number of people living with Alzheimer's disease doubles every five years. Moreover, in 2020, Alzheimer's disease affected approximately 5.8 million Americans aged 65 years and above, and by 2060, this number is expected to nearly triple, accounting for 14 million people in the US.
The death rate due to neurological disorders is also increasing. For instance, according to the Alzheimer's Association, 1 in 3 seniors dies with Alzheimer's or dementia.
Therefore, the rising prevalence of age-associated neurological disorders increases the demand for treatment of nerve repair & regeneration. This factor is propelling the growth of the nerve repair & regeneration market.
Product Insights
Based on product, the global nerve repair & regeneration market is segmented into neurostimulation & neuromodulation devices and biomaterials. In 2021, the neurostimulation & neuromodulation devices segment held the largest share of the market. However, the market for the biomaterials segment is expected to grow at the highest CAGR during 2022–2028. Biomaterials for regenerating the central nervous system (CNS) and peripheral nervous system (PNS) have been well developed. These materials are widely used as nerve repair membranes and nerve conduits in PNS repair. Biomaterials facilitate tissue repair and act as cellular and pharmacological treatment carriers. According to the National Library of Medicine, 2020, about 87% of PNS are due to trauma cases. According to the University of Birmingham, about 130,000 new cases are reported with spinal cord injury globally every year. All these factors are expected to drive the biomaterials segment. Biomaterials are segmented into nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
Application Insights
Based on application, the nerve repair & regeneration market is segmented into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration segment is subsegmented as direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy. The nerve repair & regeneration segment held the largest market share in 2021. However, neurostimulation & neuromodulation applications are expected to be the largest shareholder in the market by 2028 due to the rapid evolution in neurotechnology and emerging promising therapies for various neurological disorders.
Nerve repair & regeneration market, by Product – 2021 and 2028
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Product launches and mergers and acquisitions are the highly adopted strategies by the players operating in the global Nerve repair & regeneration market. A few of the recent key product developments are listed below:
- In February 2022, Stryker announced that it had completed the acquisition of Vocera Communications, Inc., a digital care coordination and communication leader. Vocera brings a highly complementary and innovative portfolio to Stryker’s Medical division that will enhance the company’s Advanced Digital Healthcare offerings and further advance Stryker’s focus on preventing adverse events throughout the continuum of care.
- In January 2020, Medtronic plc announced it acquired Stimgenics, LLC, a privately-held company based in Bloomington, Illinois, that has pioneered a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM) Spinal Cord Stimulation. The therapy, delivered via the Medtronic Intellis platform, is a new and unique programming option to treat patients with chronic pain.
The COVID-19 pandemic had a mixed impact on the nerve repair & regeneration market. In the first quarter of 2020, the lockdown restrictions limited the nerve injury cases, due to which there had been a reduction in the demand for biomaterials for nerve repair surgical procedures. Vehicular accidents are the most common cause of peripheral nerve injuries, but during the lockdown, nerve injuries were less owing to limited movement. However, the U.S. Department of Health & Human Services reported that in 2020, a nearly 17 percent increase was observed in deaths from accidents or unintentional injuries in the United States after the lockdown was lifted. It also reported that accidents were the 4th leading cause of death in 2020, with only 150,000 deaths below COVID-19 deaths. These deaths were observed because of the delays in the surgical procedures for accidental cases owing to the COVID-19 safety protocols. Furthermore, after the first quarter of 2020, the market saw growth at an average rate due to the rising treatment and surgical procedures for nerve injuries.
Based on geography, the global nerve repair & regeneration market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The nerve repair & regeneration market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.
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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Nerves along with the brain and spinal cord, are the foundation of nervous system. Nerve repair is method which involves exploration of the injured nerve and removal of injured tissue or scar from the nerve endings. While nerve regeneration refers to the regrowth or repair of nervous tissues, cells or cell products. Regeneration mechanism may include generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products which includes neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
Factors such as growing incidence of nerve injuries and high prevalence of neurological disorders, growing geriatric population and rising prevalence of age-associated neurological disorders, and increasing funding by private and government organizations for research in neurology.
The dearth of trained professionals is expected to restrict the market growth during the forecast period.
The nerve repair & regeneration market majorly consists of the players such as Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV.
The global nerve repair & regeneration market based on product, is segmented into neurostimulation and neuromodulation devices and biomaterials. In 2021, the neurostimulation & neuromodulation devices segment held the largest share of the market and the market for the biomaterials segment is expected to grow at the highest CAGR of 9.8% during 2022–2028.
The global nerve repair & regeneration market on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and the South & Central America. 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 the forecast period.
The List of Companies - Nerve Repair & Regeneration Market
- Axogen Corporation
- Boston Scientific Corporation
- Integra LifeSciences
- Medtronic
- Abbott Laboratories
- Stryker Corporation
- Neuronetics
- LivaNova PLC
- Baxter
- Polyganics BV
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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