The global nerve repair market is projected for robust growth, with total sales expected to exceed USD 272.4 million in 2023. Driven by the rising prevalence of neurological conditions and advancements in nerve repair therapies, the market is anticipated to expand at a CAGR of 12.2% from 2023 to 2033, reaching an estimated USD 861.4 million by the end of the forecast period.
The increasing incidence of nerve injuries and neurological disorders, coupled with a growing aging population, is fueling demand for effective nerve repair solutions. Innovations in surgical techniques and biomaterials are enhancing the efficacy of nerve repair treatments, boosting adoption rates among healthcare providers and improving patient outcomes. Additionally, advancements in regenerative medicine and stem cell therapies are creating new opportunities for nerve repair, providing hope for patients with nerve damage that previously had limited treatment options.
North America currently dominates the global nerve repair market, supported by a well-established healthcare system and high awareness among medical professionals. Meanwhile, Asia-Pacific is expected to witness significant growth in the coming years, driven by expanding healthcare access and increasing investments in medical infrastructure.
For instance, in 2022, Medtronic announced the approval for its Intellis neurostimulator and the Vanta neurostimulator from the United States Food and Drug Administration (FDA) for the chronic pain treatment associated with diabetic peripheral neuropathy (DPN).
When a nerve is damaged, it can lead to serious motor and sensory issues that ache and cause the appendages to malfunction. Hence, health professionals are employing biomaterials in the nerve repair process and are included in products for nerve repair. Autograft is the gold standard for nerve repair procedures, although the specifics of the procedure are determined by the type and severity of the nerve injury.
Advanced nerve repair therapies are used to treat nerve damage brought on by trauma and other factors, which is a key driver influencing the market. Adult stem cells, which can be obtained from adipose tissue, skin, and bone marrow, are now being employed in many developed nations to repair and regenerate nerves.
Competitive Landscape
With several established nerve repair production companies across the globe, the overall market is estimated to be highly fragmented. To maintain a strong foothold in the industry, key players are increasing Research and Development efforts to expand their novel product portfolios. Several products are in their pipeline stage, and the companies are moving their efforts into promoting the regularization and licensing of these pipelined products after assessing their efficacy.
For instance:
- In May 2023, a new compound was discovered by the United Kingdom Research and Innovation during their research. This compound exhibits the ability to promote nerve regeneration following injuries and safeguard cardiac tissue against the type of harm observed in heart attacks.
- In October 2022, Phageneis obtained de novo approval from the United States FDA for their Phagenyx neurostimulation system. This innovative system utilizes pharyngeal electrical stimulation to restore the ability to swallow in individuals suffering from severe dysphagia following a stroke.
- In August 2022, Abbott received United States FDA approval for the ProClaim plus spinal cord stimulation system. The ProClaim Plus system features FlexBurst therapy developed by Abbott. This system is the next generation of Abbott’s BurstDR stimulation technology. It provides FlexBurst 360 therapy. FlexBurst 360 therapy effectively alleviates pain. The therapy targets six specific regions of the torso and extremities.
- Integra LifeSciences Holding Corporation announced the launch of NeuraGen® 3D Nerve Guide Matrix, a resorbable implant for the repair of peripheral nerve discontinuities, in March 2022.
- Topline findings from Avance Nerve Graft vs. compared with Conduits in Digital Nerve Injuries from the RECON Clinical Study were released by Axogen, Inc. in May 2022. The company will submit a biologics license application (BLA) in the second half of 2023 with the help of the data collected from this clinical study.
- Checkpoint Surgical, Inc. introduced The NeuroShield® Chitosan Nerve Wrap in August 2021, expanding its portfolio of intraoperative nerve care products.
Key Market Players
- Axogen Inc.
- Stryker Corporation
- Baxter International Inc.
- Integra Lifesciences Holdings Corp
- Neurotex Ltd
- Polyganics B.V.
- Abbott Laboratories
- Boston Scientific Inc
- Medtronic Plc
- Checkpoint Surgical
- Polyganics
- Synovis Micro Companies Alliance
- Orthomed, Inc
A Full Report Overview
Key Market Segments Covered in Nerve Repair Industry Research
By Product:
- Nerve Wrap
- Nerve Protector
- Nerve Connector
- Nerve Graft
By Nerve Repair:
- Epineural Nerve Repair
- Perineural Nerve Repair
- Fascicular Nerve Repair
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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