According to the new market research report “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 Billion by 2022 from USD 5.79 Billion in 2017, at a CAGR of 12.9%. Increasing number of neurological disorders, rising geriatric population, and technological advancements are the major factors that are driving the growth of this market.
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By neurostimulation and neuromodulation device product, the internal neurostimulation device segment is expected to dominate the market in 2017
On the basis of neurostimulation and neuromodulation device product is subsegmented into internal neurostimulation device and external neurostimulation device. The internal neurostimulation device segment is expected to account for the largest share of this market in 2017. This growth can be attributed to minimally invasive techniques and increasing number of people suffering from back surgery syndrome which drives this segment.
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By end user, the hospitals and clinics segment is expected to dominate the market in 2017
In the end user, the nerve repair and regeneration market is segmented into hospitals and clinics, and ambulatory surgical centres. The hospitals and clinics sengment is expected to account for the largest share in the market. The growth is primarily attributed to the increasing incidence of neurological incidence and growth in the number of hospitals in emerging countries.
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Asia offers lucrative growth opportunities
By region, the global nerve repair and regeneration market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). While North America holds the largest share of the market in 2017, Asia is expected to register the highest CAGR during the forecast period. The presence of emerging economies like China and India; the large population; growth in the number of hospitals, and increasing neurological disorder in the region are some major factors driving the high growth of this regional segment.
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Some of the major players operating in the nerve repair and regeneration market are AxoGen (US), Baxter (US), Boston Scientific (US), LivaNova (UK), Integra LifeSciences (US), Medtronic (US), Abbott Laboratories (US), Stryker (US), Nevro (US), Polyganics (Netherlands), and Nuvectra (US).
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