Nerve Repair and Regeneration Market to Cross $17.47 Billion Revenue by 2030: P&S Intelligence

NEW YORK, Nov. 14, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, from $6.2 billion in 2021, the nerve repair and regeneration market size will grow to $17.47 billion by 2030, at a 12.2% CAGR. In recent years, a number of devices and biomaterials used for repairing and regenerating the nerves have been cleared by the EMA, FDA, and other regulatory authorities. This, coupled with the favorable reimbursement policies in developed countries, has brought expensive neurological treatments within the reach of the masses.

Over 64% of the revenue in the industry is generated by neurostimulation/neuromodulation devices. This can be chiefly credited to the rise in the availability of SCS devices, with healthcare firms being compelled to cater to the requirements of the increasing population with spinal cord injuries.

Neurostimulation and Neuromodulation Surgeries Most Sought After

In tune with the rising demand for neurostimulation/neuromodulation devices, the associated surgeries hold more than 34% of the market revenue share currently. Over a thousand neurological conditions are known to affect humans, including Alzheimer's disease, dementias, cerebrovascular diseases, migraine, epilepsy, Parkinson's disease, tetanus, poliomyelitis, meningitis, and multiple sclerosis.

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Strong Focus on Biocompatibility of Devices Major Driver for Market

Since almost all the neurological diseases are debilitating illnesses that significantly mar the quality of life, market players are strongly focusing on creating surgical and implantable devices that are more biocompatible than those of the previous generations. In this regard, the increasing research on biomaterials and stem cell therapies is a key factor propelling the volume of neurostimulation and neuromodulation surgeries.

North America Continues To Lead in Nerve Therapy

With a share of more than 30%, North America continues to make strides in nerve repair and regeneration therapies. This is majorly because of the high prevalence of neurodegenerative diseases in the region, with the Alzheimer's Disease Association estimating the 2022 incidence of Alzheimer's in the U.S. at over 6.2 million individuals.

Additionally, medical technology organizations, such as Medtronic plc, Boston Scientific Corporation, and Abbott Laboratories, are striving to launch advanced biomaterials and devices for nerve therapy. Since all these companies are either headquartered or have a significant foothold in North America, the region enjoys a comparatively wider availability of nerve therapies than the developing regions.

Browse detailed report on Nerve Repair and Regeneration Market Size, Share and Growth Analysis 2022-2030

APAC Has Highest Nerve Repair and Regeneration Therapy Potential

APAC is expected to witness the fastest growth in the demand for nerve repair and regeneration therapies during this decade, at a CAGR of over 13%. Like the dominance of North America, APAC's vast potential for such therapies can be attributed to the increasing incidence of neurological diseases.

The rising burden of such ailments is partially due to the growing geriatric population, with China and India leading the global race. Hence, governments of regional countries are augmenting their expenditures on the improvement of their healthcare industry and making advanced neurological treatments available to everyone.

Nerve Repair and Regeneration Market Report Coverage

By Product

• Neurostimulation/Neuromodulation Devices
• Internal Devices
• External Devices
• Biomaterials
• Nerve conduits
• Nerve wraps

By Application

• Direct Nerve Repair/Neurorrhaphy
• Epineural repair
• Perineural repair
• Group fascicular repair
• Nerve Grafting
• Autografts
• Allografts
• Xenografts
• Stem Cell Therapy
• Neurostimulation and Neuromodulation

Regional Analysis

• North America
• U.S.
• Canada
• Europe Nerve
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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