Nerve Repair and Regeneration Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the nerve repair and regeneration market was valued at USD 5.8 billion in 2022, and a CAGR of 12.5% is expected during the forecast period. High incidences of nerve injuries and government support for neurological disorder cases are driving the growth in the market significantly. The geriatric population across the globe is also expanding. Government investment in the study of neurological disorders is also propelling the growth of the market. Increasing cases of anxiety and stress are also a reason behind the growth in the market. The emerging technologies of stem cell therapy are also bolstering the growth of this market. Hectic lifestyles and hormonal imbalances in people all around the world are driving the growth of the market significantly.

Impact of Covid-19

COVID-19 has affected the nerve repair and regeneration market in various ways. While the pandemic increased the need for such treatments due to potential nerve damage in severe cases, it also disrupted supply chains, clinical trials, and healthcare access, impacting the development and availability of these therapies. Moreover, the focus on COVID-19-related research diverted attention and resources away from nerve repair advancements. Overall, the market faced challenges but also highlighted the importance of innovation in this field.

Growth Drivers

Several factors drive growth in the market, Technological advancements in regenerative medicines, such as stem cell therapies and nerve grafting techniques, have expanded treatment options. Rising cases of nerve injuries due to accidents and chronic diseases like diabetes boost the demand for effective repair solutions. Increased research and development activities, favorable government initiatives, and a growing aging population contribute to the market’s expansion by fostering innovation and the development of new therapies. Increasing road accident cases all over the world is driving growth in the nerve repair and regeneration market. The fact that cases of neurological disorders have increased drastically in the last few years is driving the growth in the market. Increasing awareness among people about the need to treat neurological disorders efficiently is driving the growth of the market.

Segmentation

By Product

Neurostimulation and Neuromodulation Devices

Internal Neurostimulation Devices

·         Spinal Cord Stimulation

·         Deep Brain Stimulation

·         Vagus Nerve Stimulation

·         Sacral Nerve Stimulation

·         Gastric Electrical Stimulation

External Neurostimulation Devices

·         Transcutaneous electrical nerve stimulation devices

·         Transcranial magnetic stimulation devices

·         Respiratory Electrical Stimulation Devices

Biomaterials

·         Nerve Condults

·         Nerve Wraps

By Application

·         Spinal Cord Injuries

·         Neurodegenerative disorders

·         Other disorders

Nerve Grafting

·         Autografts

·         Allografts

·         Geno grafts

Neurorrhaphy

·         Epineural Repair

·         Perineural Repair

·         Group Fascular Repair

Nerve Cell Repair and Regeneration Application Segmentation

On the basis of applications, the Nerve cell repair and regeneration market is segmented into spinal cord injuries, neurodegenerative diseases, and other nerve-related disorders. Spinal cord injuries are a significant focus within the nerve cell repair and regeneration market. They represent a crucial segment due to the high demand for therapies aimed at repairing and regenerating damaged nerves in the spinal cord. Various treatments, including stem cell therapies, neurostimulation, and regenerative medicine techniques, are being researched and developed to address spinal cord injuries. These advancements include improving motor function, sensation, and overall quality of life for individuals affected by such injuries.

Nerve Cell Repair and Regeneration Type of therapy Segmentation

Repair and regeneration therapies for nerve cell typically fall into few categories.

Pharmacological and Cell based Therapies

Medications or drugs that stimulate nerve growth or protect existing nerve cells. Cell-based therapies use cells or other types of cell to repair damaged nerves. Gene therapies introducing genetic material to encourage nerve cell growth or repair. Bioengineering creating artificial nerve grafts or scaffolds to guide nerve growth.

Stem Cell Therapy

Stem cell therapy involves using stem cells to replace damaged cells. In the context of nerve cell repair, this therapy aims to harness the regenerative potential of stem cells to either directly replace damaged nerve cells or encourage the body’s natural healing processes. Stem cells are differentiated into various cell types, potentially aiding in nerve regeneration and restoring function in conditions like spinal cord injuries or certain neurological disorders. However,  while showing promise, research in this field is ongoing to better understand its effectiveness and safety.

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Regional Outlook

On the basis of regions, the nerve repair and regeneration market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America, due to the better healthcare infrastructure and technological advancements in the region, is driving the growth of the market. The United States is a country blessed with the best healthcare facilities worldwide. The increasing emphasis of the government over there on research and development activities is driving the growth in the market significantly. The increasing geriatric population in the region and increasing awareness among the people about the diagnosis and treatment of chronic diseases are driving the growth of the market. Asia Pacific, including countries like China, India, and Japan, are the big markets due to the rapidly increasing population and hectic lifestyles of the people in these countries. Technological advancements and research and development activities in the region are driving the growth of the market. Stemcell therapy is a very popular treatment in which stem cells are directly transplanted into the affected cells or tissues.

The increasing geriatric population and rising awareness among people about the prevalence of disease are driving the growth of the market. European countries like Germany, France, Italy, Greece, Denmark, Norway, Sweden, England, and Russia are the leading markets in the region due to well-established health infrastructure and increasing development in research and development activities. The increasing aging population in European countries and increasing awareness about neurological disorders are driving the growth of the market. Latin America and the Middle East are witnessing moderate growth in the region due to poor healthcare infrastructure. Countries like Egypt, South Africa, Nigeria, the U.A.E., and Saudi Arabia are driving the growth due to increasing advancements in health infrastructure.

Key Players

·         Medtronic plc

·         Boston Scientific Corporation

·         Abbott Laboratories

·         Pfizer

·         AstraZeneca

·         Neuronetics

·         Baxter

·         Cipla

·         Axogen Corporation

·         Integra Lifesciences corporation

·         Other Players