Nerve Repair And Regeneration Market Owing to Increasing Prevalence Of Chronic Neurological Disorders

According to Precision Business Insights (PBI) latest report, the global nerve repair and regeneration market were valued at USD 6356.4 million in 2021 and growing at a significant CAGR of 14.3% during 2022-2028. A rise in the incidence of neurological and epidemiological disorders is one of the primary factors responsible for the growth of the nerve repair and regeneration industry. Increased public awareness and healthcare spending would pave the way for new opportunities in the future. During the projected period, the Nerve Regeneration Market is likely to be constrained by the high cost of devices such as neurostimulator devices, the method, and a scarcity of skilled experts to use the devices.

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Neurostimulation & Neuromodulation Surgeries Segment Dominates the Nerve Repair and Regeneration Market:
Due to the availability of many treatments and technical improvements to reduce chronic pain, neurostimulation and neuromodulation surgeries are projected to continue their dominance over the projection period. Due to increased consumer knowledge about nerve repair and the introduction of innovative technologies in the healthcare sector, the neuromodulation surgery devices category held the highest share in 2021, accounting for more than two-thirds of the global nerve repair and regeneration market.

North America Leads Nerve Repair and Regeneration Market:
Because of an increase in the prevalence of neurodegenerative and neurodevelopmental diseases, stroke, and traumatic brain injuries, as well as increased adoption of advanced healthcare infrastructure, North America held the lion's share of the global nerve repair and regeneration market in 2021, accounting for around two-fifths of the market. However, because of rising patient awareness, supportive government initiatives, the prevalence of unmet medical needs, and the introduction of breakthrough technologies, the market in Asia-Pacific is expected to grow at the fastest rate over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global nerve repair and re-generation market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In Sept 2021, Checkpoint Surgical announced the full commercial release of the Checkpoint Guardian Nerve Stimulator, the next generation of its classic intraoperative nerve stimulation technology. The new Checkpoint Guardian optimizes intraoperative nerve assessment capability, particularly for nerve repair procedures, providing more precise controls and information to take nerve assessment to the next level. In May 2021, Polyganics, a medical technology company developing, manufacturing and commercializing bioresorbable medical devices, announced treatment of the first patient in its ENCASE II clinical trial for LIQOSEAL. LIQOSEAL is an easy-to-use, synthetic dura sealant patch indicated for use as an adjunct to standard methods of cranial dural repair, to provide watertight closure of the dura mater and reduce cerebrospinal fluid (CSF) leakage. In addition, LIQOSEAL also supports regeneration of the dura mater by acting as a scaffold for new fibrotic layer formation

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The nerve repair and regeneration market is segmented based on product, surgery, and geography.
Based on the Product, the market is segmented into the following:
• Biomaterials
• Neurostimulation and Neuromodulation Devices

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

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key player's profiles in the nerve repair and regeneration market report are Abbott Laboratories, Integra Lifesciences Corporation, Boston scientific Inc, Axogenic, Medtronic plc, Checkpoint Surgical, Stryker Corporation, Synovis Micro Companies Alliance, Polyganics, OrthoMed, Inc.

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