According to a new report by Expert Market Research titled, “Global Nerve Repair and Regeneration Market Share, Size, Report and Forecast 2024-2032″, the global nerve repair and regeneration market size reached a value of USD 9.33 billion in 2023. Aided by the growing cases of neurological disorders and increased efficiency of surgical procedures, the market is projected to further grow at a CAGR of 15.1% between 2024 and 2032.
Nerve repair and regeneration involve the employment of surgical and non-surgical methods to restore damaged nervous tissue and improve its functional recovery. Techniques like nerve grafting, nerve conduits, and stem cell therapy have witnessed advancements and are used intensively in the treatment of traumatic injuries, nerve severance, and neuromas. Furthermore, these methods provide tangible benefits, including restoring lost functions, alleviating pain, and improving the overall quality of life for patients.
A rise in the global ageing population is a significant contributor to the nerve repair and regeneration market growth. The elderly population is more prone to degenerative neurological disorders, which consequently necessitates advanced treatments. The robust healthcare infrastructure in developed regions and expanding facilities in emerging economies complement this rising demand.
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One of the significant nerve repair and regeneration market trends is the surge in stem cell therapies and bioengineered nerve grafts. The potential of stem cells to differentiate into various cell types, including neurons, and their role in healing damaged nerve tissues, further boosts its importance globally. Concurrently, bioengineered nerve grafts, integrated with growth factors, present a novel approach to nerve repair, making them increasingly sought-after in regenerative treatments.
The rapid adoption of minimally invasive surgeries is further fuelling the nerve repair and regeneration market demand. Advanced neurosurgical tools, combined with imaging techniques like MRI and 3D-ultrasound, facilitate precise surgical interventions, leading to faster recovery, minimal post-operative complications, and improved treatment outcomes. These surgical innovations are pivotal in the nerve repair applications, especially when dealing with delicate and intricate neural pathways.
As per the nerve repair and regeneration market analysis, research and development have a significant role to play in the procedure’s advancement. Biomedical research institutions, in collaboration with leading healthcare companies, are continuously examining innovative materials and techniques. For instance, the utilisation of polymer-based nerve conduits, integrated with growth-promoting molecules, is a significant advancement in peripheral nerve repair procedures.
Furthermore, the advent of neuro-robotics and neural interfaces supports the market expansion for nerve repair and regeneration. These state-of-the-art technologies hold the potential to improve treatments, providing novel therapeutic avenues for patients with extensive nerve damage.
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Market Segmentation
The market can be divided based on product, surgery, and region.
Market Breakup by Product
• Biosimilars
• Neurostimulation and Neuromodulation Devices
o Spinal Cord
o Deep Brain
o Sacral Nerve
o Vagus Nerve
o Gastric Electric
Market Breakup by Surgery
• Direct Nerve Repair/Neurorrhaphy
• Nerve Grafting
• Stem Cell Therapy
• Neurostimulation and Neuromodulation Surgeries
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global nerve repair and regeneration market. Some of the major players explored in the report by Expert Market Research are as follows:
• Stryker
• Axogen Corporation
• Hitachi Ltd.
• Integra LifeSciences
• Medtronic plc
• Abbott Laboratories
• Boston Scientific Corporation (BSC)
• Others
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