Market Definition 

Nerve regeneration devices are used to restore damaged nerves to their function and used to treat peripheral nerve injuries. Nerve Repair and Regeneration devices are used for repair of nervous tissues, cells or cell products, and such mechanisms include generation of new neurons, glia, axons, myelin, and synapses. 

Global nerve repair and regeneration market is estimated to reach $XX billion by 2026; growing at a CAGR of 10.8% till 2026. 

Market Dynamics 

Rising prevalence of neurological disorders is a key driving factor of the market. Some of the neurological disorders include Alzheimer's Disease, Brain Tumors, Epilepsy, Parkinson's Disease and others. According to the World Health Organization (WHO), around 44 million people worldwide living with Alzheimer's disease. According to the Alzheimer's Association, more than 5 million Americans have Alzheimer's. An estimate of 5.8 million Americans age 65 and older are living with Alzheimer's dementia in 2020. The global prevalence of tumors in the nervous system in males and females was 3.6 and 2.5 per 100,000, respectively. In 2020, an estimated 23,890 adults in the United States will be diagnosed with tumors in the brain. According to the World Health Organization (WHO), 60 million people worldwide have epilepsy, which makes it one of the most common neurological diseases. According to the Parkinson's Foundation, More than 10 million people worldwide are living with Parkinson's Disease. Around 60,000 Americans are diagnosed with Parkinson's Disease each year. However, the high cost of nerve repair and regeneration devices might hamper market growth. The nerve repair and regeneration devices can cost upto $5,000 to $300,000. Moreover, increasing investment by the companies for research and development of nerve repair and regeneration devices would provide lucrative opportunities for the market in the coming years. 

Market Segmentation 

The global nerve repair and regeneration market are mainly classified based on type, application, and end user. Type is further segmented into Neurostimulation & Neuromodulation Devices and Biomaterials. By application, the market is divided into Neurostimulation and Neuromodulation Surgeries, Direct Nerve Repair/Neurorrhaphy, Nerve Grafting, Stem Cell Therapy, and Others. By end user, the market is further divided into Hospital & Clinics, Ambulatory Surgery Centers, and Others. 

Based on type, Neurostimulation & Neuromodulation Devices was dominating the nerve repair and regeneration market in 2019. Neurostimulation and neuromodulation devices are divided into internal neurostimulation devices and external neurostimulation devices. Internal neurostimulation devices have been further bifurcated into Deep Brain Stimulation, Spinal Cord Stimulation, Sacral Nerve Stimulation, Gastric Electrical Stimulation, and Vagus Nerve Stimulation. External neurostimulation devices have been further segmented into Transcutaneous Electrical Nerve Stimulation and Transcranial Magnetic Stimulation. Spinal Cord Stimulation showed significant growth in 2019, owing to the increasing clinical studies on spinal cord stimulation (SCS) and commercialization of new spinal cord stimulation (SCS) system by the companies. For instance, Boston has introduced the Spectra WaveWriter Spinal Cord Stimulator (SCS) System in Europe. The Spectra WaveWriter SCS System is the first system for the treatment of chronic pain to combine paresthesia-based and sub-perception therapy simultaneously. 

Regional Analysis 

Based on geography, the global nerve repair and regeneration market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. 

North America was dominating the nerve repair and regeneration market in 2019, due to the partnership between companies to develop and market nerve repair and regeneration products, commercialization of technologically advanced nerve repair and regeneration products, and increasing regulatory approval of nerve repair and regeneration devices. For instance, Checkpoint Surgical, Inc., has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for the Checkpoint brief electrostimulation therapy (BEST) system. The Checkpoint BEST system is designed to provide electrical stimulation of peripheral nerves to promote nerve regeneration, with the goal of accelerating and improving patient recovery. 

Competitive landscape 

Key players operating in the nerve repair and regeneration industry include Abbott Laboratories, Medtronic, PLC, Boston Scientific Corporation, Integra LifeSciences, Baxter International, Inc., LivaNova, PLC, AxoGen, Inc., Nevro Corp, Soterix Medical, Inc., NeuroPace, Inc., Collagen Matrix, Inc, and Synapse Biomedical, Inc. 

The collaboration between companies to conduct a research study on nerve repair and regeneration devices, commercialization of regulatory approved nerve repair and regeneration devices, and raising funds for the development of nerve repair and regeneration are some of the strategies adopted by the major companies. For instance, on September 24, 2019, Renerva, LLC, a medical device company have received two additional grants of $500,000 from the National Science Foundation (NSF) and the National Institutes of Health (NIH) to accelerate the development of their medical device products rapidly. The fund is used to expand its peripheral nerve repair technologies. 

Nerve Repair and Regeneration Market Key Segments: 

By Type 

• Neurostimulation & Neuromodulation Devices 
• Internal Neurostimulation Devices 
• Deep Brain Stimulation 
• Spinal Cord Stimulation 
• Sacral Nerve Stimulation 
• Gastric Electrical Stimulation 
• Vagus Nerve Stimulation 
• External Neurostimulation Devices 
• Transcutaneous Electrical Nerve Stimulation 
• Transcranial Magnetic Stimulation 
• Biomaterials 
• Nerve Conduits 
• Nerve Protectors 
• Nerve Wraps  
• Nerve Connectors 

By Application 

• Neurostimulation and Neuromodulation Surgeries 
• Direct Nerve Repair/Neurorrhaphy 
• Nerve Grafting 
• Stem Cell Therapy 
• Others 

By End User 

• Hospital & Clinics 
• Ambulatory Surgery Centers 
• Others 

Key Global Nerve Repair and Regeneration Industry Players 

• Abbott Laboratories 
• Medtronic, PLC 
• Boston Scientific Corporation 
• Integra LifeSciences 
• Baxter International, Inc. 
• LivaNova, PLC 
• AxoGen, Inc. 
• Nevro Corp 
• Soterix Medical, Inc. 
• NeuroPace, Inc. 
• Collagen Matrix, Inc 
• Synapse Biomedical, Inc. 

What Report Provides 

• Full in-depth analysis of the parent Industry 
• Important changes in market and its dynamics 
• Segmentation details of the market 

• Former, on-going, and projected market analysis in terms of volume and value 
• Assessment of niche industry developments 
• Market share analysis 
• Key strategies of major players 
• Emerging segments and regional growth potential