Nerve Repair and Regeneration Market Size to Reach USD 22.01 Billion in 2028 – Reports and Data
Increasing cases of neurological disorders, ongoing research activities, and private and government investments
The global nerve repair and regeneration market size is expected to reach USD 22.01 Billion in 2028 and register a revenue CAGR of 10.9% over the forecast period, according to a latest report by Reports & Data. A major factor driving market revenue growth is increasing cases of neurological disorders. According to World Health Organization (WHO), hundreds of millions of people are affected by neurological disorders worldwide. Alzheimer's disease may contribute to 60–70% of cases and is regarded as the most common cause of dementia.
Increasing investments in research in the field of nerve repair and regeneration is resulting in the advent of additional opportunities for efficient neurological healthcare delivery. Ongoing research and development activities and private investments in the healthcare sector for advancements in surgery devices is expected to positively impact revenue growth of the market over the forecast period.
Moreover, market growth is projected to register an upward trend with the growing awareness about mental disorders among people. In addition, increasing cases of Central Nervous System (CNS) disorders and healthy lifestyle trends are some key factors expected to continue to fuel market growth going ahead.
However, high cost of nerve repair and regeneration devices and unfavorable government policies are some major factors restraining global nerve repair and regeneration market revenue growth over the forecast period.
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Some Key Highlights from the Report:
- On the basis of surgery type, the market report is segmented into direct neuropathy, nerve grafting, neuromodulation surgery, and stem cell therapy. Among these, the ransomware segment accounted for largest revenue share in 2020 due to rise in ransomware attacks by cyber criminals to encrypt a victim's files. The attacker demands few hundred dollars to thousands to restore access to the data.
- On the basis of product type, the market report is segmented into biomaterial, neuromodulation surgery devices, external, and internal. Among these, the neuromodulation surgery devices segment is expected to register a significantly rapid revenue CAGR during the forecast period due to the increasing neurological disorders such as epilepsy and peripheral nerve injuries.
- Asia Pacific nerve repair and regeneration market is expected to register fastest revenue growth rate over the forecast period due to increasing population suffering from nerve related diseases in the emerging economics such as India and China where hospitalization requires at large extent.
- Revenue from North America nerve repair and regeneration market is projected to account for a significantly larger revenue share and dominate other regional markets over the forecast period. This can be attributed to rapid technological advancements in the field of nerve repair and regeneration, and increasing cases of neurological disorders patients.
- Some major players in the market research report include, AxoGen Inc., Baxter International Inc., Boston Scientific Corporation, Livanova PLC (Cyberonics Inc.), Medtronic PLC, Abbott Laboratories (St. Jude Medical, Inc.), Integra Lifesciences Holding Corporation, Orthod Group Ltd., Polyganics B.V., Stryker Corporation, and Cyberonics Inc..
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Segments covered in the report:
For the purpose of this report, Reports & Data has segmented the global nerve repair and regeneration market on the basis of surgery type, product type and region:
Surgery Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Direct Neuropathy
- Epineural Repair
- Perineural Repair
- Group Fascicular Repair
- Nerve Grafting
- Neuromodulation Surgery
- Stem Cell Therapy
Product Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Nerve conduits
- Nerve protectors
- Nerve wraps
- Nerve connectors
- Neuromodulation Surgery Devices
- Transcutaneous Electrical Nerve Stimulation
- Transcranial Magnetic Stimulation
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Vagus Nerve Stimulation
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Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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