Emergence of Innovative Products for Nerve Repair & Regeneration, Growing Awareness Regarding the Use of Nerve Repair and Regeneration Devices, And Rising Availability of Various Neurological Solutions in Medical Science Are Factors Driving Market Expansion

United States, Rockville MD, Aug. 04, 2022 (GLOBE NEWSWIRE) -- As per an in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, global demand for nerve repair and regeneration devices is expected to reach a valuation of US$ 12 billion by 2026, rising at a high CAGR of 11% over the forecast period (2022-2026).

The ageing population, which is more prone to neurological illnesses, and the rise in nerve injuries, are factors fueling market growth. Hospitals, ambulatory surgery centers, and other healthcare institutions across the world are providing innovative solutions for the fast diagnosis and treatment of neurological disorders. Through nerve repair and regeneration, damaged neural tissue, cells, and cellular byproducts can be replaced.

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Several technological advancements in stem cell therapy and the introduction of novel neuromodulation devices are driving market growth. Many additional reasons, such as increased consumer healthcare spending and major advancements in medical infrastructure, particularly in developing nations, are likely to boost market expansion. Clinical trials are also being carried out by organizations with support from the public and commercial sectors to provide a safe and effective remedy for a variety of neurological diseases.

What Could Start-ups Do to Boost Their Business Potential?

“Emerging Market Participants Concentrating on Introduction of New Products to Improve Health after Nerve Injury”

New companies are concentrating on the development and commercialization of implantable solutions to enhance the effectiveness of peripheral nerve restoration surgeries.

New market entrants are engaged in introducing nerve regeneration supplements and nerve repair medicines to speed up healing and improve health after nerve injury.

• Renerva is an innovative medical device start-up based in the U.S. that joined Cornell University's McGovern Center life sciences business. Renerva is developing an over-the-counter nerve transplant product that could prevent individuals from suffering from permanent disability and improving an injectable gel to speed up the regeneration of damaged nerves.
  

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Key Segments Covered in the Nerve Repair and Regeneration Industry Survey

• By Product :
  
  
  • Neurostimulation & Neuromodulation Devices
    
  • Biomaterials

• By Application :
  
  
  • Neurostimulation & Neuromodulation Surgeries
    
  • Neurorrhaphy
  • Nerve Grafting
  • Stem Cell Therapy

• By End User :
  
  
  • Hospitals
    
  • Clinics
  • Ambulatory Surgery Centers
    
    
• By Region :
  
  
  • North America
    
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

Competitive Landscape

Key companies are investing in R&D operations to create innovative devices and ways to give patients up-to-date, accurate treatment. In the market for nerve repair and regeneration, these strategies are supporting manufacturers in securing a dominant position and extending their global reach. Development of the market for nerve repair and regeneration also highly depends on strategic alliances.

For instance,

• Scientists at the Mayo Clinic are developing a cell-based treatment for the neurodegenerative condition amyotrophic lateral sclerosis. They hope to do this by using a patient's own adipose-derived mesenchymal stem cells, modifying them in a lab, and then reintroducing them into the person’s body. 
  

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Key players in the Nerve Repair and Regeneration Market

• Baxter
• Polyganics B.V.
• Nevro
• Stryker
• Abbott Laboratories
• AxoGen, Inc.
• Boston Scientific Corporation
• Integra LifeSciences Corporation
• LivaNova, PLC
  

Key Takeaways from Nerve Repair and Regeneration Market Study

• Global nerve repair and regeneration market to reach valuation of US$ 12 billion by 2026.
• Market in Canada expected to rise at 9% CAGR from 2022 to 2026.
• Market in Germany set to expand at 9.5% CAGR over the forecast period.
• Demand for neurostimulation & neuromodulation devices projected to rise at 9.5% CAGR through 2026.

About the Healthcare Division at Fact.MR

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

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