Newark, Oct. 28, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global nerve repair and regeneration market is expected to grow from USD 7.54 billion in 2022 to USD 20.20 billion in by 2030, at a CAGR of 13.11% over the forecast period 2022-2030.
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The likelihood of developing a neurological disease increases with age. Due to the aging of the population, there will be an increase in the number of people suffering from neurological problems and neurodegenerative disorders. Vehicle accidents, which frequently affect the peripheral nervous system, are a significant factor in the increasing number of nerve damage patients in the market. When playing sports or other physically demanding activities, nerve damage can occur. The increase in autoimmune diseases is also impacting the global market. To meet the growing healthcare needs of their vast populations and attract large market players, emerging economies like India, China, Brazil and South Africa are spending more on healthcare infrastructure. For example, the market for new drugs and treatments is driven by the study and development of promising applications of stem cell therapy in nerve repair and regeneration. Innovations and discoveries in the market will offer profitable prospects to its participants, promoting the expansion of the industry. However, lack of skilled healthcare professionals will limit the market growth. The stringent regulatory approval standards will also hamper the growth of the market.
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To strengthen their position in the global nerve repair and regeneration market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
• Stryker announced in February 2022 that it had successfully acquired Vocera Communications, Inc., a pioneer in digital care coordination and communication. Vocera adds a highly innovative and complementary portfolio to Stryker’s medical division. The acquisition will enhance the company’s advanced digital healthcare services.
Market growth and trends
Any nerve damage can make it difficult for the brain to connect with the muscles and organs of the body. Muscle tremors, numbness, and muscle weakness are all symptoms of damaged nerves. Nerve damage is caused by accidents, lupus and other medical conditions. Difficulty performing regular daily activities is exacerbated by nerve damage. Surgical procedures can restore the injured nerve. The nerve repair and regeneration market is expected to be driven by the increase in nerve injuries related to sports and road accidents. The growing geriatric population will also drive the market. Increase in government healthcare spending will also facilitate the growth of the market. The market will also benefit from streamlining and improving regulatory processes to increase approval and compliance rates. Market development will also benefit from improvements in nerve grafting and stem cell therapy which are showing promising success rates and patient outcomes.
• In 2022, neuromodulation surgery devices segment dominated the market with the largest market share of 55% and revenue of 4.14 billion.
The product type segment is divided into neuromodulation, neurostimulation and biomaterials surgical devices. In 2022, the neuromodulation surgery devices segment dominated the market with the largest market share of 55% and revenue of 4.14 billion.
• The direct nerve repair segment is expected to grow at the fastest CAGR of 16.24% during the forecast period.
The type of surgery segment is divided into direct nerve repair, stem cell therapy, nerve grafting, neuromodulation surgery and others. During the forecast period, the direct nerve repair segment is expected to grow at the fastest CAGR of 16.24%.
• In 2022, the hospital segment dominated the market with the largest market share of 66% and revenue of 4.97 billion.
The end-user segment is divided into hospitals, clinics, and outpatient settings. In 2022, the hospital segment dominated the market with the largest market share of 66% and revenue of 4.97 billion.
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Regional Segment Analysis of Nerve Repair and Regeneration Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region has emerged as the largest market for the global nerve repair and regeneration market, with a market share of around 39.99% and 3.01 billion market revenue in 2022. L Asia-Pacific is expected to be the largest market during the forecast period. . The Asia-Pacific nerve repair and regeneration market has grown rapidly. The growing population of the region shows significant market potential given the unmet health needs of consumers due to the lack of appropriate infrastructure. The increase in health tax expenditures will also positively benefit the market.
Leading players operating in the global nerve repair and regeneration market are:
• Abbott Laboratories
• Axogen Corporation
• Boston Scientific Society
• Cyberonics Inc.
• Integra Life Sciences
• Medtronic Plc
• Neuronetics Inc.
• Stryker Corporation
This study forecasts the global, regional and country-level revenue from 2019 to 2030. The Brainy Insights has segmented the global nerve repair and regeneration market based on the segments mentioned below:
Nerve Repair and Regeneration Market by Product Type:
• Neuromodulation surgery devices
Nerve Repair and Regeneration Market by Type of Surgery:
• Direct nerve repair
• Stem cell therapy
• Nerve graft
• Neuromodulation surgery
Nerve Repair and Regeneration Market by End User:
• Ambulatory Parameters
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About the report:
The global nerve repair and regeneration market is analyzed based on its value (in billions of dollars). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each part. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply and Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.
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