North America Nerve Repair & Regeneration Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product {Neurostimulation & Neuromodulation Devices [Internal Neurostimulation Devices (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Ner

North America Nerve Repair & Regeneration Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product {Neurostimulation & Neuromodulation Devices [Internal Neurostimulation Devices (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, and Gastric Electrical Stimulation) and External Neurostimulation Devices (Transcutaneous Electrical Nerve Stimulation Devices, Transcranial Magnetic Stimulation Devices, and Respiratory Electrical Stimulation Devices)] and Biomaterials} and Application {Neurostimulation & Neuromodulation Applications (Internal Neurostimulation & Neuromodulation and External Neurostimulation & Neuromodulation) and Nerve Repair & Regeneration Applications [Direct Nerve Repair/Neurorrhaphy (Epineural Repair, Perineural Repair, and Group Fascicular Repair), Nerve Grafting (Autografts, Allografts, and Xenografts), and Stem Cell Therapy]}

The North America nerve repair & regeneration market is expected to grow from US$ 3,721.38 million in 2022 to US$ 6,463.51 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2022 to 2028.

Rising Prevalence of Age-associated Neurological Disorders among Geriatric Population Boosts North America Nerve Repair & Regeneration Market Growth.

A few neurologic disorders such as neuropathy, Alzheimer's disease, Parkinson's disease, and strokes are more common in the geriatric population, and their prevalence is rising with higher life expectancies. According to the WHO, the population aged 60 years will approximately double from 12% in 2015 to 22% by 2050, and mental and neurological disorders among older adults are likely to account for 6.6% of the total disability-adjusted life year (DALYs) for this age group. Also, as per the same source, ~15% of adults aged 60 and over have a mental disorder. Further, the number of people aged 65 years and above affected by Alzheimer's disease is expected to grow from ~5.8 million to 14 million by 2060 in the US. Moreover, neurological disorders are increasingly becoming a major cause of death across the region. For instance, according to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is the fifth leading cause of death in people aged 65 years and above. Therefore, the rising prevalence of age-associated neurological disorders among the geriatric population increases the demand for treatment of nerve repair & regeneration. This factor is propelling the growth of the North America nerve repair & regeneration market .

North America Nerve Repair & Regeneration Market Overview

The North America nerve repair & regeneration market is segmented into the US, Canada, and Mexico. The US held the largest share of the North America nerve repair & regeneration market in 2021. The increasing incidences of peripheral nerve injuries, neurological disorders, and diabetic peripheral neuropathy; a surge in government healthcare expenditure; and increasing clinical research & development of nerve repair products are propelling the market growth in the region.

North America Nerve Repair & Regeneration Market Revenue and Forecast to 2028 (US$ Million)

North America Nerve Repair & Regeneration Market Segmentation

The North America nerve repair & regeneration market is bifurcated on the basis of product and application.

Based on product, the North America nerve repair & regeneration market is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment accounted for a larger market share in 2022.

Based on application, the North America nerve repair & regeneration market is bifurcated into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration applications segment held a larger market share in 2022.

Based on country, the North America nerve repair & regeneration market is segmented into the US, Canada, and Mexico. Further, the US dominated the market in 2022.

Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV are the leading companies operating in the North America nerve repair & regeneration market.

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