Nerve Repair & Regeneration Market By Product (Neurostimulation & Neuromodulation Devices and Biomaterials), Surgery Type (Nerve Grafting, Direct Neuropathy, Neurostimulation & Neuromodulation Surgeries, and Stem Cell Therapy) - Global Analysis & Forecast 2020-2030
Report ID : 407 | Published Date : Oct 2020 | Pages : 160 | Region : Global | Report Code : HC-218
Nerve Repair & Regeneration Market Overview and Introduction
Nerve regeneration refers to the regrowth or repair of a damaged nervous tissues after nerve injuries. Although the body is capable of regenerating damaged nerves and tissues, the regeneration process is slow. In a human body, the nervous system encompasses the central nervous system and the peripheral nervous system. The time required for nerve regeneration differs for these systems depending on the functional mechanisms involved in the repair. Nerve repair is done by joining the ends of an injured nerve with the help of nerve grafts, direct repair, or nerve tube.
The global nerve repair & regeneration market is majorly driven by rising geriatric populations and subsequently increasing incidences of neurological disorders. Moreover, the increasing incidences of accidents that cause nerve injuries, increasing research in the field of nerve repair, the launch of new products, and rising government funding in the healthcare sector have been playing a pivotal role in contributing to the extensive growth of the global nerve repair & regeneration market. However, the lack of skilled professionals that can carry out such procedures as well as stringent regulations will restrain the market to a certain extent.
The global nerve repair & regeneration market is segmented based on the product, surgery type, and region.
Nerve Repair & Regeneration Market By Product
Based on products, the nerve repair & regeneration market can be segmented into neurostimulation & neuromodulation devices and biomaterials. The neurostimulation & neuromodulation devices segment is further bifurcated into external stimulation devices and internal stimulation devices. External stimulation devices are further bifurcated into Transcutaneous Electrical Nerve Stimulation (TENS), Transcranial Magnetic Stimulation (TMS),s and respiratory electric stimulation devices. Similarly, internal stimulation devices are further bifurcated into Spinal Cord stimulation (SCS), Sacral Nerve Stimulation (SNS), Deep Brain Stimulation (DBS), Gastric Electrical Stimulation (GES), and Vagus Nerve Stimulation (VNS). The biomaterials segment is further categorized into nerve conduits, nerve protectors, nerve wraps, and nerve connectors. The neurostimulation and neuromodulation devices segment was anticipated to hold the largest market share during 2019. The large share of this segment can be attributed to the wide range of products available in the market for nerve repair, new product launches as well as the increasing applications of these devices in surgeries.
Nerve Repair & Regeneration Market By Surgery Type
Based on surgery types, the market can be segmented into nerve grafting, direct neuropathy, neurostimulation & neuromodulation surgeries, and stem cell therapy. Nerve grafting is further bifurcated into autografts, allografts, and xenografts. Similarly, direct neuropathy is further bifurcated into epineural repair, perineural repair, and group fascicular repair. In terms of market share, the direct neuropathy segment is estimated to account for the largest market share owing to increasing incidences of neurological disorders among patients having medical conditions such as diabetes, chronic kidney disease, Guillain-Barré syndrome, and autoimmune disorders.
Nerve Repair & Regeneration Market By Region
The global nerve repair & regeneration market can be segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). North America dominated the nerve repair & regeneration market followed by Europe and Asia Pacific. North America will continue its dominance in the global nerve repair & regeneration market during the forecast period. The largest market share of this region can be attributed to factors such as the increasing burden of neurological disorders and government initiatives focused on spreading awareness regarding public health aspects of neurological disorders.
Nerve Repair & Regeneration Market Prominent Players
Some of the prominent players in the global nerve repair & regeneration market are, Medtronic, Boston Scientific Corporation, Abbott, Stryker, Axogen Corporation, Integra LifeSciences Corporation, NEVRO CORP., NeuroPace, Inc., LivaNova PLC., and Synapse Biomedical Inc., among others.