Nerve Repair and Regeneration Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022 to 2028

Description

Nerve Repair And Regeneration Market is anticipated to be valued at USD 6,356.4 Million in 2021 and is expanded to grow at a significant CAGR of 14.3% over 2022-2028. The global nerve repair and regeneration market is being driven by an increase in the prevalence of neurological and epidemic disorders, as well as an increase in the geriatric population that requires nerve repair and regeneration therapy. As a result of social restriction measures, susceptible individuals such as those with dystonic or Parkinson’s disease (PD) with deep brain stimulation (DBS) were at a greater risk of chronic stress, and their motor and psychiatric symptoms were reported to deteriorate. Additionally, the availability of several medicines for treating various Central Nervous System (CNS) illnesses, such as Parkinson’s disease and Alzheimer’s disease, as well as the expanding breadth of applications, are likely to fuel market expansion throughout the projection period. Due to technical breakthroughs and the development of biodegradable polymers that can aid promote spinal stability and fracture healing while reducing hospitalisation, the biomaterials product segment is expected to grow at the quickest CAGR during the projected period. Demand for neurological disorder therapies owing to the increasing incidence and rising awareness regarding the same will drive the market. Moreover, government funding and reimbursement policies and uninterrupted technological advances are projected to boost market growth. Commercialization of goods expected in the coming years as a result of investments by corporations and research organisations is also expected to support market growth. Neurostimulation and neuromodulation surgeries had the highest revenue share of over XX in 2021, based on product. Over the next few years, stem cell therapy is predicted to grow at the fastest rate. The market is expected to increase as a result of various government efforts and approvals to perform clinical studies of biomaterials. In the United States, there are roughly 570 clinics that provide stem cell therapies, and this number is likely to grow, boosting segment growth.

Recent Market Developments:

In March 2022, Integra LifeSciences Holding Corporation a leading global medical technology company and pioneers in nerve repair, announced the launch of NeuraGen® 3D Nerve Guide Matrix, a resorbable implant for the repair of peripheral nerve discontinuities. NeuraGen 3D is a nerve repair product specifically engineered to create an optimized environment that may allow for a more complete functional recovery following mid-gap nerve repair when compared to hollow nerve conduits alone.

In Jan 2020, Checkpoint Surgical, Inc., the leader in intraoperative nerve repair stimulation technology, has enrolled the first patient in its multi-center clinical study of the company’s breakthrough nerve regeneration technology. The patient was enrolled at The Ohio State University, one of four sites actively enrolling patients in the double-blind, randomized clinical trial. Other participating sites include the Medical College of Wisconsin, Northwestern University, and Walter Reed National Military Medical Center. The study is also funded by a Department of Defense Clinical Trial Award to Dr. Amy Moore at The Ohio State University.