Nerve Repair and Regeneration Market Size to Reach Valuation of USD 11.62 Billion by 2027 Growing at a CAGR of 9.0%, according to Emergen Research
The global Nerve Repair and Regeneration Market size will be worth USD 11.62 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing government support for the research and development of neurological disorders. Technological advancements of the healthcare infrastructure in the emerging economies are expected to drive the growth of the Nerve Repair and Regeneration market over the forecast period. The availability of favorable health insurance coverage for treating neurological disorders is a key contributing factor to the growing demand for the products.
Stringent government regulations on product approval might be a restraining factor to the growth of the market. Moreover, the high costs associated with the products and the presence of alternative drug therapies might hamper the demand for the product over the forecast period.
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Key Highlights From The Report
- In September 2019, U.S. Food and Drug Administration (FDA) approved Abbott’s Proclaim XR™ recharge-free neurostimulation platform for people living with chronic pain. The approval helped Abbott to secure a higher market share and increase its neurostimulation devices product portfolio.
- The Neurostimulation and Neuromodulation Surgeries segment held the largest market share of 34.4% in 2019. The technological advancements of the products to increase the efficiency of the treatments and reduce chronic pain are expected to drive the growth of the Neurostimulation and Neuromodulation Surgeries.
- The Biomaterial segment is forecasted to grow with the fastest CAGR of 9.6% over the forecast period. The technological advancements for nerve repair and regeneration and the increasing investments by the major market players to increase the efficiency of the treatment for neurological disorders are expected to drive biomaterial products.
- North America accounted for the largest market share of the Nerve Repair and Regeneration Market in 2019. The presence of technologically advanced healthcare infrastructure and the availability of favorable health reimbursement policies are expected to drive the region's market growth.
- Key participants include Abbott Laboratories, Medtronic, Plc, Boston Scientific Corporation, BAXTER INTERNATIONAL, INC., LIVANOVA, PLC., AXOGEN, INC., Stryker Corporation, Cyberonics, Inc., INTEGRA LIFESCIENCES, and SOTERIX MEDICAL, INC., among others.
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Emergen Research has segmented the global Nerve Repair and Regeneration Market on the basis of Product, Surgery, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Neurostimulation and Neuromodulation Devices (Sacral Nerve, Spinal Cord, Vagus Nerve, Gastric Electric, and Deep Brain Stimulation Devices)
- Surgery Outlook (Revenue, USD Billion; 2017-2027)
- Stem Cell Therapy
- Direct Nerve Repair
- Nerve Grafting
- Neurostimulation and Neuromodulation Surgeries
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
- North America
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