Nerve Repair and Regeneration Market Dynamics, SWOT Analysis and Competitive Insights till 2030

Posted on 2023-04-20 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 20, 2023 — /EPR Network/ —

Nerve Repair and Regeneration Industry Overview

The global Nerve Repair and Regeneration Market size is expected to reach USD 20.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 12.16% from 2022 to 2030. Demand for neurological disorder therapies owing to the increasing incidence and rising awareness regarding the same will drive the market. Moreover, government funding and reimbursement policies and uninterrupted technological advances are projected to boost market growth.

In January 2016, the EU Horizon 2020 program funded a research project ‘Autostem’, launched by the NUI Galway’s Regenerative Medicine Institute (REMEDI), costing about USD 6.73 million. This project was to develop a robotic stem cell production factory, having an edge over the old traditional techniques. This technique offers prospects for new therapies for a range of diseases, such as cancers, diabetes, and arthritis. Increased R&D and investments by key companies in emerging countries are also driving the market. In July 2018, Stem Cells Australia (SCA) received USD 3 million for stem cell research from the Medical Research Future Fund (MRFF).

In addition, government and private funded organizations are conducting clinical trials to develop a safe and effective therapy for different neurological disorders, such as Stem Cells in Umbilical Blood Infusion for Cerebral Palsy (Phase II) and the usage of Polyethylene glycol (PEG) drug (Phase I) to promote axonal fusion technique to repair peripheral nerve injuries in humans.

Furthermore, in October 2017, Stryker Corporation acquired VEXIM, a France-based medical device company. VEXIM’s portfolio is complementary to Stryker’s Interventional Spine (IVS) portfolio. With this acquisition, Stryker will strengthen its distribution channels in Eastern Europe, the Middle East, Asia, and Latin America. In January 2018, Boston Scientific Corporation received U.S. FDA approval for the first and only Spectra WaveWriter spinal cord stimulator system. This system is used for paresthesia-based therapy.

Nerve Repair and Regeneration Market Segmentation

Grand View Research has segmented the global nerve repair and regeneration market on the basis of product, surgery, and region:

Based on the Product Insights, the market is segmented into Biomaterials and Neurostimulation and Neuromodulation Devices.

The neurostimulation and neuromodulation devices segment emerged as the largest segment with a revenue share of over 65.0% in 2021. The segment is further sub-segmented into Deep Brain Stimulation (DBS), Spinal Cord Stimulation (SCS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation(SNS), and Gastric Electric Stimulation (GES) Devices.
The biomaterials segment is anticipated to expand at the fastest CAGR from 2022 to 2030 due to technological advancements, a wide range of applications, government funding for innovations, and biocompatibility.

Based on the Surgery Insights, the market is segmented into Direct Nerve Repair/Neurorrhaphy, Nerve Grafting, Stem Cell Therapy and Neurostimulation and Neuromodulation Surgeries.

Neurostimulation and neuromodulation surgeries held the largest revenue share of over 35.0% in 2021. Stem cell therapy is expected to register the fastest CAGR over the forecast years. Various government initiatives and approvals to conduct clinical trials of biomaterials are anticipated to boost the market growth.

Nerve Repair and Regeneration Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The industry contributors have a broad product pipeline for neurological disorders. Market players are in a process of introducing advanced products to improve treatment efficiency, in turn, capturing a larger market share.

Some prominent players in the global Nerve Repair and Regeneration market include

AxoGen, Inc.
Stryker Corporation
Jude Medical, Inc.
Baxter International, Inc.
Polyganics B.V.
Boston Scientific, Inc.
Integra Lifesciences Corporation
Cyberonics, Inc.
Medtronic plc.

Order a free sample PDF of the Nerve Repair and Regeneration Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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