[167 Pages Report] The global nerve repair and regeneration market is expected to reach USD 9.7 billion by 2025 from USD 6.3 billion in 2020, at a CAGR of 9.1% .The growth in this market is driven by high incidence of nerve injuries, growing prevalence of neurological disorders, increasing geriatric population, and rising government support for neurologic disorders

COVID -19 Impact On The Nerve Repair And Regeneration Market

COVID-19 has disrupted healthcare services in most countries worldwide; the worst affected so far are the US, Russia, Spain, Italy, the UK, India, Germany, and Iran. Its impact on the nerve repair and regeneration market is expected to be concentrated on the biomaterials segment, as opposed to the neurostimulation & neuromodulation segment.

This is mainly due to possible reductions in the demand for biomaterials. They are used for peripheral nerve repair�nerve injuries from motor vehicle accidents, lacerations, penetrating trauma, stretching or crushing trauma and fractures, burns, and gunshot wounds. Vehicular accidents are the most common cause of peripheral nerve injuries�according to an article published in PubMed, vehicular motor accidents contributed, as etiological factors, 26% of the total peripheral nerve injuries. However, due to the restrictions enforced to control the spread of COVID-19, vehicular traffic has reduced greatly in intensity; as a consequence, so has the number of road accidents.

The market for neurostimulation and neuromodulation is also expected to be affected, although to a lesser extent. This is mainly due to the prioritization of COVID-19 patients; other ailments and procedures are not receiving as much attention or simply not being conducted on a large scale. Many hospitals are postponing these procedures.

Global Nerve Repair and Regeneration Market Dynamics

Driver: Rising geriatric population and subsequent growth in the prevalence of neurological disorders

The geriatric population is at a higher risk of neurologic disorders such as stroke, neuropathy, Alzheimer�s disease, and Parkinson�s disease. Their higher susceptibility makes geriatrics a key segment of the overall patient pool. As a result, the growth of this population segment will ensure a continued, intensified demand for nerve repair and regeneration for the treatment of neurological disorders.

According to the WHO, the global population aged 60 years and above was 962 million in 2017 and expected to rise to 2.1 billion in 2050. According to World Population Prospects (2019 Revision), by 2050, one in four persons residing in Europe and Northern America could be of 65 years or above. Consequently:

According to the Alzheimer's Association (2020 estimates), the number of people above 65 years of age suffering from Alzheimer�s could reach 13.8 million by 2050 from 5.8 million in 2020.

According to the Parkinson�s Foundation, disease incidence rises with age; only 4% of total cases are diagnosed before 50 years of age.

According to Parkinson�s UK, in 2018, there were 145,519 people affected by the disease in the country. This is expected to cross 168,000 by 2025.

OPPORTUNITY: Emerging markets

Emerging countries such as India, China, and Brazil are expected to offer potential growth opportunities for market players during the forecast period. The huge population base, especially in India and China, is expected to be a major draw for companies in this market. This is bolstered by the rising incidence of neurological diseases like Alzheimer�s, Parkinson�s, and epilepsy. According to estimates published in PubMed, by 2030, 4.94 million people in China will be suffering from Parkinson�s, accounting for nearly half of the total number of patients globally. Furthermore, according to the World Bank, healthcare expenditure is increasing in these countries, supporting the growth of hospitals and ambulatory surgical centers in these countries. This is considered as a positive indicator for the market growth, as hospitals and ambulatory surgical centers are major end users of nerve repair and regeneration products.

Neurostimulation and Neuromodulation Devices segment to dominate the nerve repair and regeneration market in 2019

Based on product, the nerve repair and regenerationmarket is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment to dominate the during the forecast period. The large market share of this segment is driven mainly by rising government expenditure for neurologic disorders, and favorable reimbursement .

Direct nerve repair/neurorrhaphy segment to dominate the biomaterials application for nerve repair and regeneration market in 2019

Based on application, the biomaterials market is segmented into direct nerve repair/neurorrhaphy, nerve grafting, and stem cell therapy. In 2019, the direct nerve repair segment accounted for the largest share of the market. This can be attributed to the increasing incidence of neurological disorders across the globe.

North America was the largest regional market for the nerve repair and regeneration in 2019

The nerve repair and regeneration market has been analyzed for North America, Europe, the Asia Pacific, and Rest of the World. In 2019, North America held the largest share of the market, followed by Europe. The rising incidence of neurological disorders, favorable reimbursement policies, and the strong presence of industry players in the region in this region are the major factors driving the growth of the nerve repair and regeneration market in North America.

Key Market Players

Key players in the nerve repair and regeneration market are Prominent players in the nerve repair and regeneration market include Medtronic, PLC. (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), AxoGen, Inc. (US), Baxter International, Inc. (US), LivaNova, PLC. (UK), Integra LifeSciences (US), Polyganics (Netherlands), NeuroPace, Inc. (US), Soterix Medical, Inc. (US), Nevro Corp (US), Synapse Biomedical, Inc. (US), Aleva Neurotherapeutics (Switzerland), Collagen Matrix, Inc. (US), KeriMedical (Switzerland), BioWave Corporation (US), NeuroSigma (US), tVNS Technologies GmbH(Germany), and GiMer Medical (Taiwan). Medtronic ranked first in the nerve repair and regeneration market in 2019. The company has a wide range of products for nerve repair and regeneration covering all major technologies of nerve repair and regenerations. Medtronic differentiates its products by branding them and launching new products in the field of nerve repair and regenerations. Product innovation is the one of the major goals of the company and the company launched innovative products over the last three years. For example, in 2020, the company received received CE approval for InterStim Micro neurostimulator and InterStim SureScan MRI leads � clearing the technologies for commercial sale and clinical use in Europe

Scope of the Report

Report Metric Details Market size available for years 2018�2025 Base year considered 2018 Forecast period 2020�2025 Forecast units Value (USD) Segments covered Product, , Application

Geographies covered North America (US and Canada), Europe (Germany, France, UK, Italy, Spain, and the RoE), APAC (China, Japan, India, and the RoAPAC), Latin America and Middle East & Africa Companies covered Twenty major players were covered, including

Medtronic, PLC. (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), AxoGen, Inc. (US), Baxter International, Inc. (US), LivaNova, PLC. (UK), Integra LifeSciences (US), Polyganics (Netherlands), NeuroPace, Inc. (US), Soterix Medical, Inc. (US), Nevro Corp (US), Synapse Biomedical, Inc. (US), Aleva Neurotherapeutics (Switzerland), Collagen Matrix, Inc. (US), KeriMedical (Switzerland), BioWave Corporation (US), NeuroSigma (US), tVNS Technologies GmbH(Germany), and GiMer Medical (Taiwan).

This research report categorizes the nerve repair and regeneration market into the following segments and subsegments:

Product

Neurostimulation and Neuromodulation Devices Internal Neurostimulation Devices Spinal Cord Stimulation Deep Brain Stimulation Vagus Nerve Stimulation Sacral Nerve Stimulation Gastric Electrical Stimulation External Neurostimulation Devices TENS TMS RES Biomaterials Nerve Conduits Nerve Wraps



Application

Neurostimulation and Neuromodulation Applications Internal Neurostimulation and Neuromodulation Applications External Neurostimulation and Neuromodulation Applications

Direct Nerve Repair/Neurorrhaphy Epineural Repair Perineural Repair Group Fascicular Repair

Nerve Grafting Autografts Allografts Xenografts

Stem Cell Therapy

By Region

North America US Canada

Europe Germany France UK Italy Spain RoE

Asia Pacific Japan China India Rest of Asia Pacific

Rest of the World Latin America Middle East & Africa



Recent Developments:

In 2020, Medtronic received CE approval for InterStim Micro neurostimulator and InterStim SureScan MRI leads � clearing the technologies for commercial sale and clinical use in Europe

In 2019, Boston Scientific received FDA approval for the Image Ready MRI for its Vercise Gevia Deep Brain Stimulation System

In 2020, LivaNova entered into partnership with Verily (US) for evaluation of the effectiveness of Vagus Nerve Stimulation Therapy (VNS Therapy) for difficult-to-treat Depression (DTD)

Frequently Asked Questions (FAQ):

What is the projected market value of the global nerve repair and regeneration market? The global market of nerve repair and regeneration is projected to reach USD 9.78 billion by 2025. What is the estimated growth rate (CAGR) of the global nerve repair and regeneration market for the next five years? The global nerve repair and regeneration market is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.1% from 2020 to 2025. Who are the major players offering nerve repair and regeneration products in the market? Medtronic, PLC. (Ireland), Boston Scientific Corporation (US), Abbott Laboratories (US), AxoGen, Inc. (US), Baxter International, Inc. (US), LivaNova, PLC. (UK), Integra LifeSciences (US), Polyganics (Netherlands), Which region is lucrative for the nerve repair and regeneration market? Asia Pacific region provides significant growth opportunities for the players operating in the market. This is mainly due to the presence of a large patient pool, increasing incidence of neurologic disorders and rising incidence of peripheral nerve injuries. Which product segment accounted for the largest share in 2019? Based on product, the nerve repair and regenerationmarket is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment to dominate the during the forecast period. The large market share of this segment is driven mainly by rising government expenditure for neurologic disorders, and favorable reimbursement .

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