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The global nerve repair and regeneration market size is estimated to grow by USD 4,891.9 million between 2022 and 2027 accelerating at a CAGR of 11.23%.
This nerve repair and regeneration market report extensively covers market segmentation by Product (neuromodulation devices and biomaterials), Application (neurorrhaphy, nerve grafting, and stem cell therapy), and Geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
The growth of the market depends on several factors, including the rising prevalence of neurological disorders, increasing government funds for research on neurological diseases, and expansion of neurology-related research projects.
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COVID-19 negatively impacted the regional nerve repair and regeneration market in 2020 due to disruptions in the healthcare industry's supply chain. Government measures such as business closures and travel restrictions resulted in a decline in demand for non-urgent pharmaceutical operations, including nerve therapies. However, with the availability of COVID-19 vaccines and the relaxation of lockdown measures, clinics, and hospitals resumed nerve repair and regeneration procedures in mid-2021, increasing the demand for neurostimulation devices. Additionally, the market's growth during the forecast period is fueled by an increase in Alzheimer's and dementia cases in the region.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The nerve repair and regeneration 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. Nerve repair and regeneration 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 nerve repair and regeneration 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. 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 nerve repair and regeneration market during the forecast period.
The nerve repair and regeneration 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. The COVID-19 pandemic has diverted healthcare resources from other diseases, including neurological conditions. These challenges will hinder the growth of the global nerve repair and regeneration market during the forecast period.
Vendors 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.
Abbott Laboratories - The company offers solutions for nerve repair regeneration by eliminating the time required for harvesting an autograft using modern technology. Under this segment, the company also offers products for rhythm management, electrophysiology, heart failure, vascular, structural heart, and neuromodulation. Additionally, Under the diagnostic segment, the company focuses on core laboratory, molecular solutions, point-of-care solutions, and rapid diagnostics.
The report also includes detailed analyses of the competitive landscape of the market and information about prominent and key market vendors, including:
Technavio’s report consists of a holistic analysis of the key development analysis, development stage, key market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
The market share growth of the neuromodulation device segment will be significant during the forecast period. Neuromodulation is a technique that targets nerve injury by sending electrical impulses to the affected area. Neuromodulation surgical devices are well-known in the healthcare industry and have a high market share. 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.
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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.
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North America is projected to contribute 32% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US is the major contributor to the nerve repair and regeneration 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 $800 billion every year. The increasing number of patients with neurological disorders and the increasing cost of treatment 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.
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Nerve Repair And Regeneration Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.23% |
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Market growth 2023-2027 |
USD 4,891.9 million |
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Market structure |
Fragmented |
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YoY growth (%) |
10.89 |
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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 32% |
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Key consumer countries |
US, Canada, Germany, China, Japan, and India |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Abbott Laboratories, ALEVA NEUROTHERAPEUTICS SA, AxoGen Inc., Baxter International Inc., BioWaveGO USA, Boston Scientific Corp., Check Point Surgical Inc., Collagen Matrix Inc., Gimer Medical Co. Ltd., Integra Lifesciences Holdings 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 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 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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