Nerve Repair and Regeneration Market by Application (Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, Neurostimulation Surgery), Products (Biomaterials, Nerve Conduits, Nerve Protectors, Nerve Wraps, Neurostimulation Devices) - Global Forecast to 2022
The nerve repair and regeneration market is expected to reach USD 10.59 million by 2022 from USD 5.79 billion in 2017, at a CAGR of 12.9%. Factors such as increasing number of neurological disorders, technological advancements, and rising geriatric population are driving the growth of this market. On the other hand, donor-site morbidity, difficulties in treating large nerve gaps, and stringent regulatory frameworks and time-consuming approval processes may challenge the growth of the market.
Neurostimulation and neuromodulation devices segment is expected to account for the largest share in the market
On the basis of product, the nerve repair and regeneration market is segmented into neurostimulation and neuromodulation devices and biomaterials. In 2017, the neurostimulation and neuromodulation devices segment is expected to account for the largest share of this market segment. This growth can be attributed to the increasing neurological disorders and favorable reimbursement policies.
Internal neurostimulation and neuromodulation surgeries segment is expected to register the highest CAGR during the forecast period
Based on application, the nerve repair and regeneration market is segmented into into internal neurostimulation and neuromodulation surgeries and external neurostimulation and neuromodulation surgeries. The internal neurostimulation and neuromodulation surgeries segment is expected to register highest growth rate during the forecast period. This growth can be attributed to its wide application in neurological disorders.
North America is expected to account for the largest regional segment in the market
Geographically, the nerve repair and regeneration market is dominated by North America, followed by Europe. The North American region is estimated to account for the largest share in 2017 and the trend is expected to continue during the forecast period. The growth in this market can be attributed to the presence of major key players in the region and growing incidence of peripheral nerve injuries.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1 – 35%, Tier 2 – 22% and Tier 3 – 43%
• By Designation – C level – 15%, Director level – 32%, Others – 53%
• By Region – North America - 32%, Europe – 27%, Asia – 22%, RoW – 19%
Key players operating in the nerve repair and regeneration market include Medtronic (US), Boston Scientific (US), Abbott Laboratories (US), LivaNova (UK), Baxter (US), AxoGen (US), and Stryker (US).
The report analyses the nerve repair and regeneration market by product, applications, end user, and regions. Apart from comprehensive geographic and market sizing, the report also provides the competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the report profiles companies with developments, and strategies adopted by key players to maintain and increase their shares in the market. The above-mentioned market research data, market size, and forecast of future trends will help key market players and new entrants to make the necessary decisions to be successful in the market.
Benefits of Buying this Report:
This report will enable both established firms as well as new entrants/smaller firms gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the five strategies mentioned below to strengthen their market shares.
The report provides insights on the following strategies:
• Market Penetration: The report analyzes the nerve repair and regeneration market by product, application, and end user
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the nerve repair and regeneration market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various nerve repair and regeneration product across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the nerve repair and regeneration market.
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