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The nerve repair and regeneration market size is estimated to grow by USD 6.80 billion at a CAGR of 13.47% between 2023 and 2028. Market growth hinges on various factors, including the escalating incidence of neurological disorders, augmented government allocations for research on neurological biomarkers, and the proliferation of neurology-related research endeavors. Challenges confronting the market encompass a shortage of skilled professionals, exorbitant device expenses, and rigorous government mandates. As neurological conditions become more prevalent, demand for innovative solutions surges, prompting increased investment in research and development of peripheral neuropathy treatment. However, addressing challenges such as the scarcity of trained personnel and navigating complex regulatory landscapes is imperative for sustaining market momentum. Moreover, the high costs associated with devices necessitate strategic pricing strategies and advancements in technology to ensure affordability and accessibility. Collaborative efforts among stakeholders, including policymakers, researchers, and healthcare professionals, are crucial for overcoming obstacles and driving continued growth and innovation in the neurology sector.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Abbott Laboratories, ALEVA NEUROTHERAPEUTICS SA, AxoGen Inc, Baxter International Inc., BioWave Ltd., Boston Scientific Corp., Check Point Surgical Inc., Collagen Matrix Inc., Gimer Medical Co. Ltd., Integra Lifesciences Corp., KeriMedical SA, LivaNova PLC, Medtronic Plc, NEURONETICS Inc., NeuroPace Inc., NeuroSigma Inc., Polyganics BV, Soterix Medical Inc., Stryker Corp., and Synapse Biomedical Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth of the neuromodulation segment will be significant during the forecast period. Neuromodulation surgical devices are well-known in the healthcare industry and have a high market share.
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The neuromodulation device segment was valued at USD 2.69 billion in 2018. Neuromodulation is a technique that targets nerve injury by sending electrical impulses to the affected area. The supply chain interruptions induced by the pandemic had a significant influence on neuromodulation devices, which had a positive impact on the demand for neuromodulation surgery devices across the world in 2020. Hence, such factors are fuelling the growth of this segment during the forecast period.
Direct repair, also known as neurorrhaphy, is used when the injured ends of a nerve may be matched without effort. Excessive strain at the coaptation location is known to be harmful to nerve vascularity and functional result. As nerves are elastic, a certain amount of stress is to be expected in most repairs. When the tension at the coaptation site cannot be sustained by a single 8-0 suture, nerve grafting is often advised. The neurorrhaphy segment holds a considerable amount of market share and is expected to grow during the forecast period owing to the rapid evolution in neurotechnology and emerging promising therapies for various neurological disorders. Hence, the neurorrhaphy segment is anticipated to contribute to the growth of the market during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The US is the major contributor to the market in North America, owing to the rising capital expenditure on treating patients with neurological disorders such as epilepsy and dementia and the growing demand for neuromodulation devices. According to the Annals of Neurology, neurological disorders exert a financial burden on the healthcare system in the US, which accounts for spending approximately USD800 billion every year. The increasing number of patients with neurological disorders and the increasing cost of treatment and neurodiagnostics in the US are expected to boost market growth during the forecast period. The high fiscal healthcare expenditure and advanced healthcare infrastructure are significant contributors to regional market growth during the forecast period.
In the field of neurology, treatments for neurological disorders encompass a range of therapies aimed at improving motor function and sensory nerve function in the general population. Neurology research continues to explore the impact of environmental influences and lifestyle choices on neurological health, informing neurologists and healthcare providers about preventive measures and treatment strategies. The landscape faces challenges such as medical supply recalls and navigating market challenges in introducing new drug therapies and medical devices. Despite these obstacles, advancements in neurological disorder treatments offer hope for improving patient outcomes and quality of life. Continued research and innovation are crucial for developing effective therapies that address the complex needs of patients with neurological conditions.
The market is expanding globally due to the increasing prevalence of neurological illnesses, particularly Alzheimer's disease, which is the leading cause of impairment. The aging population and rising number of nerve injuries are also contributing to market growth. Healthcare organizations worldwide are offering innovative solutions for the quick diagnosis and treatment of neurological illnesses.
Moreover, this replaces injured neural tissue and produces new axons, myelin, neurons, glial cells, and synapses. As the frequency of neurological disorders increases, the market is expected to continue expanding during the forecast period.
The market is expanding due to technological developments in stem cell therapy and neuromodulation devices. Endogenous stem cells are used in neurogenesis and neural repair, while clinical trials are underway to develop safe and effective treatments for neurological conditions.
Moreover, the market is also expected to grow due to rising healthcare spending and improvements in medical infrastructure, particularly in developing countries. Governments are investing in research, such as the Australian government's USD 21.8 million for neurological conditions. Technological advancements will continue to drive the global market during the forecast period.
The market faces constraints such as a shortage of skilled specialists and tissue morbidity affecting donor nerves. Nerve conduits are limited to gaps smaller than 3 cm, and devices for neurostimulation and neuromodulation may require premarket approval. The World Health Organization estimates a shortage of health professionals with digital technological skills.
Moreover, the COVID-19 pandemic has diverted healthcare resources from other diseases, including neurological conditions. These challenges will hinder the growth of the global market during the forecast period.
The market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023-2028, as well as historical data from 2018 - 2022 for the following segments.
Parkinson's disease is a complex neurological disorder affecting the central nervous system, necessitating diverse neurological disorder treatments and therapies to address symptoms like impaired motor function and sensory nerve function in the general population. Factors including environmental influences, lifestyle choices, genetics, and nutrition contribute to its onset and progression, alongside physical injuries and neurostimulation devices like electrical nerve stimulation. In treating conditions like peripheral nerve injury, advancements such as processed nerve allografts, nerve wraps, and 3D printing techniques for bioengineered peripheral nerve grafts show promise in regenerative medicine.
Moreover, for the elderly population, cognitive decline and memory loss are key concerns, driving research into stem cell therapies and bioactive molecules to harness the regenerative potential of stem cells. Navigating market challenges and medical supply recalls remains crucial in advancing drug therapies and medical devices. Government support for neurology research is pivotal in developing personalized treatment strategies and improving outcomes for patients facing neurological disorders. Neurostimulation and neuromodulation devices play a critical role in managing neurological disorders exacerbated by trauma, compression, and requiring surgical procedures, especially as prevalence increases with aging populations and changing lifestyles.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.47% |
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Market growth 2024-2028 |
USD 6.80 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.6 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 33% |
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Key countries |
US, Germany, China, Canada, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Abbott Laboratories, ALEVA NEUROTHERAPEUTICS SA, AxoGen Inc, Baxter International Inc., BioWave Ltd., Boston Scientific Corp., Check Point Surgical Inc., Collagen Matrix Inc., Gimer Medical Co. Ltd., Integra Lifesciences Corp., KeriMedical SA, LivaNova PLC, Medtronic Plc, NEURONETICS Inc., NeuroPace Inc., NeuroSigma Inc., Polyganics BV, Soterix Medical Inc., Stryker Corp., and Synapse Biomedical Inc. |
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Market dynamics |
Parent market analysis, market growth analysis, market growth and forecasting , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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