The factors propelling the nerve repair and regeneration market are rise in geriatric population, growing prevalence of neurological and epidemic disorders, and introduction of novel and innovative products for nerve repair and regeneration. However, stringent regulatory requirements for product approvals, lack of skilled professionals, and high cost of the devices restrict the market growth. On the other hand, increase in investment by major medical diagnostics giants and improvement in healthcare facilities in Asia-Pacific are likely to offer immense growth opportunities to the market players.
The global Nerve Repair and Regeneration Market Size was valued at $6.6 billion in 2020 and is projected to reach $12.3 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.
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Increase in geriatric population, growing prevalence of neurological and epidemic disorders, and introduction of novel and innovative products for nerve repair and regeneration are likely to drive the market growth. The neuromodulation surgery devices segment would be lucrative through 2030. The neuromodulation surgery segment would grow at the fastest CAGR during the forecast period. North America to remain dominant and Asia-Pacific to witness the fastest growth through 2030.
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The report provides an analysis of the key players operating in the global nerve repair and regeneration market. They 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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