Global Nerve Repair and Regeneration Market - 2023-2030

Global Nerve Repair and Regeneration Market - 2023-2030

Global Nerve Repair and Regeneration Market reached US$ YY billion in 2022 and is expected to reach US$ YY million by 2030 growing at a CAGR of YY% during the forecast period 2023-2030.

Nerve repair is a field of tissue engineering that aims to graft artificial nerves that could imitate the extracellular matrix and reinforce nerve regeneration. Nerve repair and regeneration surgery aims to restore function and sensation that was partially or completely lost due to nerve damage.

Nerve conduits and wraps provide an encasement for peripheral nerve injuries and protection of the neural environment. Commonly performed surgery for nerve repair includes stem cell therapy, direct nerve repair, and nerve grafting.

Market Dynamics

Increasing investments in nerve stimulation systems

Neurostimulation devices play a crucial role in diagnosing and managing neurological conditions by allowing surgeons to provide more targeted and effective care to patients. The major investments from key companies help to drive market growth and these effective funds from companies help to transform research discoveries into new diagnoses and treatments for neurological diseases.

For instance, in April 2023, Saluda Medical Inc. declared the raise of a $150 million equity financing round led by new investor Wellington Management. The net proceeds from the financing are used to advance the commercial release of the Evoke Spinal Cord Simulation (SCS) System.

Additionally, in February 2022, Nalu Medical raised $104M in Equity Financing. The round was led by new investors MVM Partners and Gilde Healthcare with participation from Pura Vida Investments for the Nalu Neurostimulation System which is FDA-cleared for Spinal Cord Stimulation (SCS) and Peripheral Nerve Stimulation (PNS) indications.

Also, in October 2021, SPR Therapeutics raised $37 million in oversubscribed Series D growth equity financing to accelerate the rapidly growing commercial uptake of its FDA-cleared SPRINT Peripheral Nerve Stimulation System.

Furthermore, the global nerve repair and regeneration market is driven by various factors like the rising prevalence of nerve injuries and neurological diseases, technological advancements, and a rise in minimally invasive surgeries are expected to drive the market in the forecast period.

The high cost of nerve stimulation

The high cost of neurology devices, strict regulations by the government bodies, and compliance standards of the neurology stimulation devices are the factors the market is expected to get hampered in the forecast period. For instance, in the United States, the cost of deep brain stimulation surgery including the implanted device, hospital fees, and anesthesia can range from $35,000 to $100,000.

Segment Analysis

The global nerve repair and regeneration market is segmented based on product type, surgery type, end users and region.

Neurostimulation and Neuromodulation Devices accounted for approximately 39.8% of the market share

Neurostimulation devices utilize a battery and electrodes to provide electrical or magnetic forces through the scalp to certain regions of the brain. Neurostimulation and neuromodulation devices are expected to hold the largest market share over the period forecast owing to increasing new standard nerve stimulator launches and technological advancements.

For instance, in January 2023, Abbott Laboratories launched the world’s smallest implantable, rechargeable spinal cord stimulation system for chronic pain. This stimulation system is clinically proven to reduce pain and improve people’s ability to perform everyday activities.

Additionally, in February 2023, LivaNova launched SenTiva Duo, an implantable pulse generator that provides vagus nerve stimulation therapy for patients with drug-resistant epilepsy.

Geographical Analysis

North America is expected to hold a significant position in the global nerve repair and regeneration market share

The global nerve repair and regeneration market is segmented into North America, Europe, Asia Pacific, South America, Middle East, and Africa.

North America has maintained a significant market proportion due to factors such as the rising prevalence of neurological disorders, and product launches, this trend is anticipated to continue throughout the forecast period.

For instance, an estimated 6.7 million Americans aged 65 and over are predicted to have Alzheimer's dementia in 2023, and this number may increase to 13.8 million by 2060, according to a report released by the Alzheimer's Association in March 2022. Hence, the usage of nerve stimulation devices increases in treating Alzheimer’s patients.

Additionally, in September 2023, launched its Axoguard HA+ Nerve Protector. It is a revolutionary peripheral nerve injury protection device that is specially crafted to offer both short- and long-term protection.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the global nerve repair and regeneration market. The onset of the pandemic in early 2020 led to widespread lockdowns and restrictions, impacting regular diagnoses, treatments, device launches, and consultations worldwide. With the outbreak of the pandemic, many pharmaceutical or medical device manufacturing units faced labor shortages and were unable to travel to work due to lockdown restrictions. Therefore, owing to the above factors, the nerve repair and regeneration market is expected to be moderately affected over the forecast period.

Competitive Landscape

The major global players in the market include Medtronic Plc., Abbott Laboratories, Boston Scientific Corporation, Cirtec Medical, Synapse Biomedical Inc., Renishaw Plc., Orthomed LLC, AxoGen Inc., Integra LifeSciences LinaNova Plc. among others.

Key Developments
• In February 2023, ANEUVO, initiated a clinical study of the ExaStim TSS system, a wirelessly-controlled neuromodulation system designed to deliver transcutaneous spinal cord stimulation (TSS).
• In March 2022 Integra LifeSciences Holding Corporation introduced NeuraGen 3D Nerve Guide Matrix which is a resorbable implant for the repair of peripheral nerve discontinuities.

Why Purchase the Report?
• To visualize the global nerve repair and regeneration market segmentation based on product type, surgery type, end users and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nerve repair and regeneration market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global nerve repair and regeneration market report would provide approximately 61 tables, 58 figures, and 185 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies