Report Code : A00209
North America is expected to dominate the global nerve repair and regeneration market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from neurological diseases and improvement in the healthcare facilities.
Hemali Narkhede
Manager, Healthcare Research at AMR
According to a new report published by Allied Market Research, titled, Nerve Repair and Regeneration Market by Surgeries and Product Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global nerve repair and regeneration market was valued at $5,927 million in 2016, and is projected to garner $13,938 million by 2023, registering a CAGR of 13.0% from 2017 to 2023. The neuromodulation surgeries segment contributed the highest share in 2016, owing to the increase in patients suffering from neurological disorders.
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The nerve repair and regeneration products market includes biomaterials and neurostimulation and neuromodulation devices. The techniques of nerve repair and regeneration assist to cure the disorders such as Alzheimers disease, Parkinsons diseases, and other neurological diseases. Increase in geriatric population, rise in prevalence of neurological & epidemic disorders, and launch of innovative products for nerve repair & regeneration are the major factors that drive the market growth. However, stringent regulatory requirements for product approvals act as a restraining factor for the market growth. Increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific provide growth opportunities for the market.
The neuromodulation surgeries segment contributed the highest share in 2016, owing to the increase in patients suffering from neural disorders. Neuromodulation surgery devices contributed the highest share in 2016, owing to the wide range of product offering for nerve repair. The North American market accounted for a significant share in the global market in 2016, owing to growth in number of patients suffering from neurological disorders.
The major companies profiled in the report include AxoGen Inc. (U.S.), Baxter International (U.S.), Boston Scientific Incorporation (U.S.), Cyberonics Inc. (U.S.), Integra Lifesciences Corporation (U.S.), Medtronic Plc. (U.S.), Orthomed S.A.S. (France), Polyganics B.V. (Netherlands), St. Jude Medical (U.S.), and Stryker Corporation (U.S.).
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Nerve Repair and Regeneration Market by Product (Biomaterials, Neuromodulation Surgery Devices), by Surgery (Direct Neuropathy, Nerve Grafting, Stem Cell Therapy, Neuromodulation Surgery): Global Opportunity Analysis and Industry Forecast, 2020-2030
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