Nerve Repair and Regeneration Market is anticipated to reach USD 15.7 billion by 2024. It is anticipated to grow at a healthy rate in the years to come. The factors that propel the growth of the Market include the increasing prevalence of chronic pain, growing incidence of neurological disorders, rising aged population. In addition, the awareness regarding mental diseases and technological advancement and their treatment in nerve regeneration and repair products is growing worldwide, which contributes to the development of the market.
On the other hand, high cost and lack of skilled professionals and side effects related to the usage of neuro modulation and neuro stimulation devices are the major factors hampering the Nerve Repair and Regeneration Market growth in the years to come and anticipated to grow at a significant CAGR of 11.6% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Nerve Repair and Regeneration industry may be analyzed based on product, applications, end user, and geography. It may be explored by product as Neuro stimulation and Neuro modulation Devices (pertaining to Transcranial Magnetic Stimulation, and Transcutaneous Electrical Nerve Stimulation). Internal Neuro stimulation Devices include Deep Brain Stimulation, Spinal Cord Stimulation, Gastric Electrical Stimulation, Sacral Nerve Stimulation, and Valgus Nerve Stimulation. Biomaterials may be analyzed into Nerve Protectors, Nerve Conduit, Nerve Connectors, and Nerve Wraps.
Nerve Repair and Regeneration Market may be explored by application as Nerve grafting, Direct nerve repair/neurorrhaphy, Neuro stimulation and neuro modulation surgeries, Stem cell therapy. In 2016, the largest market share was held by “stem cell therapy” application in the market due to growing neuro stimulation & neuro modulation surgery, and the same trend is expected to continue for the upcoming period.
Nerve Repair and Regeneration industry may be explored by end user as Ambulatory Surgery Center, and Hospitals and clinics. In 2016, the largest market share was held by “Hospital” end user sector in the market due to growing occurrence of neurological prevalence and growth in the number of hospitals in developing economies.
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North America accounted for the major share of the Nerve Repair and Regeneration Market Size Analysis in 2015 and will continue to lead in the forecast period due to factors such as accessibility of technically advanced devices. However, Asia-Pacific to be the highest growing region in the forthcoming period.
Some of the key players that fuel the growth of the Nerve Repair and Regeneration industry include Baxter International Inc., Alafair Biosciences Inc., Boston Scientific Corporation, AxoGen Inc., Cyberonics Inc., Medtronic Inc., St. Jude Medical Inc, Stryker Corporation and Integra Lifesciences Holdings Corporation.The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
Nerve Repair and Regeneration Product Mode Outlook (Market revenue in USD Million, 2013 - 2024)
• Biomaterial
• Neurostimulation and neuromodulation devices
• Spinal cord stimulation devices
• Deep brain stimulation devices
• Sacral nerve stimulation devices
• Vagus nerve stimulation devices
• Gastric electric stimulation devices
Nerve Repair and Regeneration Surgery Outlook (Revenue, USD Million, 2013 - 2024)
• Direct nerve repair/neurorrhaphy
• Nerve grafting
• Stem cell therapy
• Neurostimulation and neuromodulation surgeries
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Nerve Repair and Regeneration Regional Outlook (Market Revenue in USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Middle East and Africa
• South Africa
The Global Nerve Repair and Regeneration Market Size is expected to register a CAGR of 11.34% to reach USD 12695.25 million by 2024.Nerve regeneration products are used to restore damaged nerves to their normal function, and this procedure is primarily used to treat peripheral nerve injuries.
This market is witnessing a high growth due to factors such as rising neurological disorders, increasing geriatric population prone to nerve-related diseases, and technological advancements.Rising neurological disorders, increasing geriatric population susceptible to neurological diseases, and technological advancements in the field of nerve regeneration are expected to enhance the market growth.
However, high cost and stringent regulatory framework are projected to restrain the market growth during the forecast period.
The Nerve Repair and Regeneration Market Size Free Growth Sample will provide valuable insight with an emphasis on the global market including some of the major players such As, Boston Scientific Corporation, LivaNova PLC, Axogen Corporation, Integra LifeSciences, Abbott, Stryker Corporation, Nuvectra Corporation, NeuroPace, Polyganics, and Medtronic.The report also appraises the supervisory scenarios which affect various decisions in the market.
With all the data congregated and scrutinized using SWOT analysis, there is a vibrant picture of the competitive scenario of the Global Nerve Repair and Regeneration Market Size .
Openings for the future market growth were uncovered and preoccupied competitive threats also textured.Market Segmentation:Global Nerve Repair and Regeneration Market Size, by ProductNeurostimulation and Neuromodulation Devices Internal Neurostimulation DevicesSpinal Cord StimulationDeep Brain StimulationVagus Nerve StimulationSacral Nerve StimulationGastric Electrical StimulationExternal Neurostimulation DevicesTranscutaneous Electrical Nerve StimulationTranscranial Magnetic StimulationBiomaterialsNerve ConduitsNerve ProtectorsNerve Wraps Nerve ConnectorsGlobal Nerve Repair and Regeneration Market Size, by ApplicationNeurostimulation and Neuromodulation SurgeriesInternal Neurostimulation and Neuromodulation SurgeriesExternal Neurostimulation and Neuromodulation SurgeriesDirect Nerve Repair/NeurorrhaphyNerve GraftingAutograftsAllograftsXenograftsStem Cell TherapyOthersGlobal Nerve Repair and Regeneration Market Size, by End UserHospitals & ClinicsAmbulatory Surgery CentersOthers Access Complete Detailed TOC Research Report https://www.marketresearchfuture.com/reports/nerve-regeneration-market-1202Reasons to Purchase this ReportQualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factorsProvision of market value (USD Billion) data for each segment and sub-segmentIndicates the region and segment that is expected to witness the fastest growth as well as to dominate the marketAnalysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each regionThe competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiledAbout Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Growth in this market is driven mainly by high incidence of nerve injuries, the growing prevalence of neurological disorders, and rising government support for neurologic disorder research.The global Nerve Repair and Regeneration Market size is projected to reach USD 9.7 billion by 2025 from USD 6.3 billion in 2020, growing at a CAGR of 9.1% from 2020 to 2025.Ask for PDF Brochure: - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=883Market Segmentation: -By product, the nerve repair market is segmented into neurostimulation and neuromodulation devices and biomaterials.
The neurostimulation and neuromodulation devices segment is segment is expected to grow at the highest growth rate during the forecast period.
The large market share of this segment is driven mainly by rising government expenditure for neurologic disorders, and favorable reimbursement.Based on the neurostimulation and neuromodulation application, the nerve regeneration market is segmented the neurostimulation and neuromodulation devices market is segmented into internal neurostimulation and neuromodulation applications and external neurostimulation and neuromodulation applications.
The internal neurostimulation and neuromodulation segment is estimated to register the highest CAGR during the forecast period.Based on application, the biomaterials market is segmented into direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy.
In 2019, the direct nerve repair segment accounted for the largest share of the market.Recent Developments: -In 2020, Medtronic received CE approval for InterStim Micro neurostimulator and InterStim SureScan MRI leads — clearing the technologies for commercial sale and clinical use in EuropeIn 2019, Boston Scientific received FDA approval for the Image Ready MRI for its Vercise Gevia Deep Brain Stimulation SystemIn 2020, LivaNova entered into partnership with Verily (US) for evaluation of the effectiveness of Vagus Nerve Stimulation Therapy (VNS Therapy) for difficult-to-treat Depression (DTD)Regional Analysis: -The nerve repair market is segmented into five major regions, namely, Europe, North America, the Asia Pacific, Latin America, and Middle East & Africa.
In 2019, North America accounted for the largest share of the nerve repair and regeneration industry, followed by Europe.Request for Sample Pages : - https://www.marketsandmarkets.com/requestsampleNew.asp?id=883 Top Key Players: -Some of the major players operating in the global nerve repair market include Medtronic, PLC.
