DUBLIN–(BUSINESS WIRE)–The “Nerve Repair & Regeneration Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product, Biomaterials, Application, Nerve Repair & Regeneration Applications” report has been added to ResearchAndMarkets.com’s offering.
The nerve repair & regeneration market is expected to reach US$ 12,514.06 million by 2028 from US$ 6,607.71 million in 2021; it is estimated to grow at a CAGR of 9.7% from 2022 to 2028.
Factors such as the growing incidence of nerve injuries, high prevalence of neurological disorders, growing geriatric population, and increasing funding by private and government organizations for research in neurology contribute to the market growth. However, the absence of trained professionals hinders the growth of the nerve repair & regeneration market .
The nervous system’s foundation is the nerves, the brain, and the spinal cord. Nerve repair is a method that involves the exploration of the injured nerve and the removal of injured tissue or scar from the nerve endings.
In comparison, nerve regeneration refers to the regrowth or repair of nervous tissues, cells, or cell products. The regeneration mechanism may include the generation of new neurons, glia, axons, myelin, or synapses. The nerve repair & regeneration is carried out by various products, including neurostimulation & neuromodulation devices and biomaterials such as nerve conduits, nerve wraps, nerve connectors, and other biomaterials.
Nerve injuries are widespread and may have severe implications for the patient. Most nerve injuries result from either chronic cumulative trauma or acute injury. According to the National Center for Biotechnology Information, traumatic brain injury (TBI) may result from a simple blow to the head to a penetrating injury to the brain. Furthermore, as per the same source in the US, around 1.7 million people suffer a traumatic brain injury, with adolescents between ages 15 & 19 and adults aged 65 & older among the more likely to sustain a traumatic brain injury in 2019.
Neurological disorders such as Parkinson’s disease, dementia, epilepsy and seizures, autism, brain tumors, and cerebral palsy, Alzheimer’s disease, among others, affect the brain and nerves of the human body. In the US, the prevalence of neurological disorders is increasing. According to the Centers for Disease Control and Prevention (CDC), Alzheimer’s disease is one of the top 10 leading causes of death in the US. In 2020, Alzheimer’s disease affected 5.8 million people in the US. Similarly, according to the Parkinson’s Foundation Prevalence Project, it was estimated that 930,000 individuals with Parkinson’s Disease were presented in the US by 2020.
Dementia is currently the seventh leading cause of death among all diseases and one of the leading causes of disability and addiction in older people worldwide. According to the WHO, more than 55 million people live with dementia worldwide, and there are nearly 10 million new cases every year. Dementia is caused by various diseases and injuries that primarily or secondarily affect the brain. Alzheimer’s disease is the most common form of dementia and may contribute to 60-70% of cases.
Thus, the growing incidence of nerve injuries and high prevalence of neurological disorders is expected to drive the nerve repair & regeneration market. Based on geography, the global nerve repair & regeneration market is primarily segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico.
Market Dynamics
Market Drivers
- Growing Incidence of Nerve Injuries and High Prevalence of Neurological Disorders
- Growing Geriatric Population and Rising Prevalence of Age-Associated Neurological Disorders
- Increasing Fundings by Private and Government Organizations for Research in Neurology
Key Market Restraints
- Dearth of trained professionals
Key Market Opportunities
- Advances in Stem Cell Therapy in Nerve Repair & Regeneration
Future Trend
- Product Launches and Approvals
Key Topics Covered:
1. Introduction
2. Nerve Repair & Regeneration Market – Key Takeaways
3. Research Methodology
4. Nerve Repair & Regeneration Market – Market Landscape
5. Nerve Repair & Regeneration Market – Key Market Dynamics
6. Nerve Repair & Regeneration Market – Global Analysis
7. Global Nerve Repair & Regeneration Market Revenue and Forecast To 2028 – by Product
8. Nerve Repair & Regeneration Market Analysis And Forecasts To 2028 – Application
9. Nerve Repair & Regeneration Market Revenue and Forecast to 2028 – Geographical Analysis
Companies Mentioned
- Axogen Corporation
- Boston Scientific Corporation
- Integra LifeSciences
- Medtronic
- Abbott Laboratories
- Stryker Corporation
- Neuronetics
- LivaNova PLC
- Baxter
- Polyganics BV
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