North America Nerve Repair and Regeneration Market Size, Share & Industry Trends Analysis Report By Surgery, By Product (Neuromodulation Surgery Devices and Biomaterials), By Country and Growth Forecast, 2022 – 2028
The North America Nerve Repair and Regeneration Market would witness market growth of 6.0% CAGR during the forecast period (2022-2028).
The brain, spinal cord, and peripheral nerves, which make up the nervous system, are vulnerable to a variety of injuries, from trauma to neurodegenerative diseases which cause progressive deterioration, such as Alzheimer's disease, amyotrophic lateral sclerosis, Parkinson's disease, multiple sclerosis, and multiple system atrophy.
However, due to the brain's and spinal cord's complexity, little spontaneous regeneration, repair, or healing occurs. As a result, brain damage, spinal cord paralysis, and peripheral nerve damage are frequently permanent and incapacitating. Patients who have suffered catastrophic nervous system injuries or strokes frequently require lifelong care, placing a significant financial and social burden on the patients, their families, and society. To progress the treatment of neurological damage, novel, paradigm-shifting treatments are necessary.
In Canada, the rise in the cases of neurological issues along with the supportive healthcare insurance coverage would create demand for innovative medical practices across the region. Another important reason in this regional market is the availability of technologically advanced equipment. As per the Alzheimer's Association, the number of people living with Alzheimer's disease in the United States is rapidly increasing. In 2019, more than 5 million Americans of all generations were diagnosed with Alzheimer's disease. In 2020, an approximate 5.8 million Americans aged 65 and up will be diagnosed with Alzheimer's disease. Eighty percent of the population is 75 years old or older. Alzheimer's dementia affects one out of every ten adults over the age of 65 (10%). Women account for about two-thirds of Alzheimer's patients in the United States. Furthermore, rising government initiatives and financing, as well as an increase in cases of neurological illnesses like dementia, Alzheimer's disease, and Parkinson's disease, are all contributing factors.
The US market dominated the North America Nerve Repair and Regeneration Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,860.5 Million by 2028. The Canada market is experiencing a CAGR of 8.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 7.5% during (2022 - 2028).
Based on Surgery, the market is segmented into Neuromodulation Surgery, Direct Neuropathy, Nerve Grafting, and Stem Cell Therapy. Based on Product, the market is segmented into Neuromodulation Surgery Devices and Biomaterials. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Integra Lifesciences Corporation, Medtronic PLC, Axogen, Inc., Stryker Corporation, Checkpoint Surgical, Inc., Polyganics BV, Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.), and OrthoMed, Inc.
Scope of the Study
Market Segments covered in the Report:
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