Nerve Repair and Regeneration Market to Observe Impressive Growth at a CAGR of 6.5% by 2030 | Synovis Micro Companies Alliance, Axogenic, Medtronic plc, Stryker Corporation, Integra Lifesciences Corporation.

As per the report, the global nerve repair and regeneration industry generated $6.6 billion in 2020, and is expected to reach $12.3 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.

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Key Takeaways:

The biomaterials segment to manifest the highest CAGR through 2030

The neuromodulation surgery segment held the lion's share

North America held the largest share.

Major Factors Driving the Growth:

Increasing prevalence of nerve injuries: Nerve injuries are becoming increasingly common due to a variety of factors, including trauma, chronic diseases such as diabetes, and iatrogenic injuries.

Rising demand for minimally invasive procedures: Patients are increasingly demanding minimally invasive procedures for the treatment of nerve injuries. Nerve repair and regeneration procedures are typically minimally invasive, which is making them more appealing to patients.

Technological advancements: Technological advancements in nerve repair and regeneration have led to the development of new and improved products and techniques. For example, new nerve conduits and scaffolds are being developed that can help to promote nerve growth and regeneration.

Growing awareness of nerve repair and regeneration: Awareness of nerve repair and regeneration among both healthcare professionals and patients is growing. This is due to the increasing volume of research on nerve repair and regeneration, as well as the development of new and improved products and techniques.

Here are some examples of how nerve repair and regeneration products and techniques are being used today:

Nerve conduits and scaffolds are being used to bridge nerve gaps and to promote nerve growth and regeneration.

Stem cell therapy is being used to promote nerve growth and regeneration in patients with nerve injuries.

Neuromodulation devices are being used to stimulate nerve function and to improve muscle control in patients with nerve injuries.

Market Segmentation:

Product type:

Nerve conduits and scaffolds: Nerve conduits and scaffolds are used to bridge nerve gaps and to promote nerve growth and regeneration.
Stem cell therapy: Stem cell therapy uses stem cells to promote nerve growth and regeneration.
Neuromodulation devices: Neuromodulation devices stimulate nerve function and improve muscle control in patients with nerve injuries.
Other products: This segment includes a variety of other nerve repair and regeneration products, such as nerve wraps, nerve allografts, and growth factors.

Application:

Peripheral nerve injury: Peripheral nerve injury is the most common type of nerve injury. Peripheral nerve injuries can be caused by trauma, such as a cut or a fall, or by diseases such as diabetes.
Spinal cord injury: Spinal cord injury is a serious injury that can lead to paralysis and other disabilities. Nerve repair and regeneration products and techniques are being used to help people with spinal cord injuries regain function.
Traumatic brain injury: Traumatic brain injury is a type of brain injury that can be caused by a blow to the head. Nerve repair and regeneration products and techniques are being used to help people with traumatic brain injuries recover.
Other applications: Nerve repair and regeneration products and techniques are also being used to treat a variety of other neurological disorders, such as stroke, multiple sclerosis, and Parkinson's disease.

End user:

Hospitals: Hospitals are the largest users of nerve repair and regeneration products and techniques.
Ambulatory surgery centers: Ambulatory surgery centers are also increasing their use of nerve repair and regeneration products and techniques.
Specialty clinics: Specialty clinics, such as orthopedic clinics and neurosurgery clinics, also use nerve repair and regeneration products and techniques.

Geography:

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest Of Asia Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest Fo Lamea)
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Regional Growth Dynamics:

the global nerve repair and regeneration market across North America held the lion's share in 2020, contributing to around two-fifths of the market, due to increase in the prevalence of neurodegenerative & neurodevelopmental diseases, stroke, and traumatic brain injuries coupled with increase in adoption of advanced healthcare infrastructure. However, the market across Asia-Pacific is projected to manifest the highest CAGR of 7.5% during the forecast period, owing to rise in awareness among patient, supportive government initiatives, and presence of unmet medical needs, and advent of innovative technologies.

Key market players:

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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