Nerve Repair and Regeneration Market Size Worth USD 14.21 Billion in 2032 | Emergen Research

Vancouver, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The global Nerve Repair and Regeneration Market will be worth USD 14.21 Billion by 2032, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing government support for the research and development of neurological disorders. Technological advancements of the healthcare infrastructure in the emerging economies are expected to drive the growth of the Nerve Repair and Regeneration market over the forecast period. The availability of favorable health insurance coverage for treating neurological disorders is a key contributing factor to the growing demand for the products. 

Stringent government regulations on product approval might be a restraining factor to the growth of the market. Moreover, the high costs associated with the products and the presence of alternative drug therapies might hamper the demand for the product over the forecast period.

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Major Companies and Competitive Landscape
The Nerve Repair and Regeneration Market is moderately fragmented with a large number of small and medium-sized manufacturers, which account for a major part of the global share. The manufacturers are well-equipped with manufacturing facilities and are involved in several research & development activities. Some of the prominent players in the Nerve Repair and Regeneration Market include:

• Abbott laboratories
• Medtronic, Plc
• Boston Scientific Corporation
• BAXTER INTERNATIONAL, INC.
• LIVANOVA, PLC.
• AXOGEN, INC.
• Stryker Corporation
• Cyberonics, Inc.
• INTEGRA LIFESCIENCES
• SOTERIX MEDICAL, INC.

Strategic Development

In Jan 2023, Stimgenics, LLC, was acquired by Medtronic plc. Stimgenics is a privately held company which is based in Bloomington, Illinois. The company has pioneered a novel spinal cord stimulation (SCS) waveform known as Differential Target Multiplexed (DTM™) Spinal Cord Stimulation. The therapy is delivered via Medtronic Intellis™ platform and is expected to help the patients suffering from chronic pain.

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Some Key Highlights from the Report

• In September 2019, U.S. Food and Drug Administration (FDA) approved Abbott’s Proclaim XR™ recharge-free neurostimulation platform for people living with chronic pain. The approval helped Abbott to secure a higher market share and increase its neurostimulation devices product portfolio.
•  The Neurostimulation and Neuromodulation Surgeries segment held the largest market share of 34.4% in 2019. The technological advancements of the products to increase the efficiency of the treatments and reduce chronic pain are expected to drive the growth of the Neurostimulation and Neuromodulation Surgeries.
• The Biomaterial segment is forecasted to grow with the fastest CAGR of 9.6% over the forecast period. The technological advancements for nerve repair and regeneration and the increasing investments by the major market players to increase the efficiency of the treatment for neurological disorders are expected to drive biomaterial products.

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Emergen Research has segmented the global Nerve Repair and Regeneration Market on the basis of Product, Surgery, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)
  • Neurostimulation and Neuromodulation Devices (Sacral Nerve, Spinal Cord, Vagus Nerve, Gastric Electric, and Deep Brain Stimulation Devices)
  • Biomaterial
• Surgery Outlook (Revenue, USD Billion; 2019-2032)
  • Stem Cell Therapy
  • Direct Nerve Repair
  • Nerve Grafting
  • Neurostimulation and Neuromodulation Surgeries
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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