nerve repair & regeneration Market

The nerve repair & regeneration market is expected to reach US$ 12,514.06 million by 2028 from US$ 6,607.71 million in 2021; it is estimated to grow at a CAGR of 9.7% from 2022 to 2028.

Factors such as the growing incidence of nerve injuries, high prevalence of neurological disorders, growing geriatric population, and increasing funding by private and government organizations for research in neurology contribute to the market growth. However, the absence of trained professionals hinders the growth of the nerve repair & regeneration market .

The nervous system's foundation is the nerves, the brain, and the spinal cord. Nerve repair is a method that involves the exploration of the injured nerve and the removal of injured tissue or scar from the nerve endings. In comparison, nerve regeneration refers to the regrowth or repair of nervous tissues, cells, or cell products. The regeneration mechanism may include the generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products, including neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.

Nerve injuries are widespread and may have severe implications for the patient. Most nerve injuries result from either chronic cumulative trauma or acute injury. According to the National Center for Biotechnology Information, traumatic brain injury (TBI) may result from a simple blow to the head to a penetrating injury to the brain. Furthermore, as per the same source in the US, around 1.7 million people suffer a traumatic brain injury, with adolescents between ages 15 & 19 and adults aged 65 & older among the more likely to sustain a traumatic brain injury in 2019.

Neurological disorders such as Parkinson's disease, dementia, epilepsy and seizures, autism, brain tumors, and cerebral palsy, Alzheimer's disease, among others, affect the brain and nerves of the human body. In the US, the prevalence of neurological disorders is increasing. According to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is one of the top 10 leading causes of death in the US. In 2020, Alzheimer's disease affected 5.8 million people in the US. Similarly, according to the Parkinson's Foundation Prevalence Project, it was estimated that 930,000 individuals with Parkinson's Disease were presented in the US by 2020.

Dementia is currently the seventh leading cause of death among all diseases and one of the leading causes of disability and addiction in older people worldwide. According to the WHO, more than 55 million people live with dementia worldwide, and there are nearly 10 million new cases every year. Dementia is caused by various diseases and injuries that primarily or secondarily affect the brain. Alzheimer's disease is the most common form of dementia and may contribute to 60-70% of cases. Thus, the growing incidence of nerve injuries and high prevalence of neurological disorders is expected to drive the nerve repair & regeneration market. Based on geography, the global nerve repair & regeneration market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The nerve repair & regeneration market in Europe is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The nerve repair & regeneration market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.

Product Insights

Based on product, the global nerve repair & regeneration market is segmented into neurostimulation & neuromodulation devices and biomaterials. In 2021, the neurostimulation & neuromodulation devices segment held the largest share of the market. However, the market for the biomaterials segment is expected to grow at the highest CAGR during 2022-2028. Biomaterials for regenerating the central nervous system (CNS) and peripheral nervous system (PNS) have been well developed. These materials are widely used as nerve repair membranes and nerve conduits in PNS repair. Biomaterials facilitate tissue repair and act as cellular and pharmacological treatment carriers. According to the National Library of Medicine, 2020, about 87% of PNS are due to trauma cases. According to the University of Birmingham, about 130,000 new cases are reported with spinal cord injury globally every year. All these factors are expected to drive the biomaterials segment. Biomaterials are segmented into nerve conduits, nerve wraps, nerve connectors, and other biomaterials

Application Insights

Based on application, the nerve repair & regeneration market is segmented into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration segment is subsegmented as direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy. The nerve repair & regeneration segment held the largest market share in 2021. However, neurostimulation & neuromodulation applications are expected to be the largest shareholder in the market by 2028 due to the rapid evolution in neurotechnology and emerging promising therapies for various neurological disorders.

Neurostimulation and neuromodulation therapies provide pain relief and restore the targeted brain and spinal cord function. It treats depression, bipolar disorder, Alzheimer's disease, and post-traumatic stress disorder, among others. According to WHO, globally, neurological disorders cause major disability. It affects up to one billion people worldwide. About 50 million people are affected by epilepsy and 24 million by Alzheimer and other dementia. Every year, about 6.8 million people die due to neurological disorders

Based on geography, the global nerve repair & regeneration market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The market in Asia Pacific is subsegmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The nerve repair & regeneration market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America.