Nerve Repair and Regeneration Market

[122 Pages Report] The nerve repair market is expected to reach USD 10.59 million from USD 5.13 billion in 2016, at a CAGR of 12.9%. Nerve repair and regeneration products are used by medical professionals to restore normal function to damaged nerves. Nerve injuries are common in the upper (hand and arm) and lower (leg) extremities. Nerve damage can be caused either due to blunt trauma (such as an impact from a fall or from traction injuries from motor vehicle accidents) or sharp trauma (such as from a direct cut from a knife). Surgical nerve repair involves the exploration of the injured nerve and removal of injured tissue from the nerve endings. In these surgeries, nerve repair and regeneration products are used to restore the normal functioning of nerves. The base year considered for the study is 2016, and the forecast has been provided for the period between 2017 and 2022.

Market Dynamics

High incidence of nerve injuries

It is estimated that about 250,000 peripheral nerve injuries occur annually in the US alone, which accounts for approximately 42% of the global peripheral nerve injuries. According to a recent study, around 87% of peripheral nerve injuries are caused due to trauma, while the rest are caused due to tumor- and non-tumor-related surgeries. Surgical manipulation or transection during tissue removal can also cause nerve damage. As the number of such injuries is high, the demand for biomaterials such as nerve conduits, nerve wraps, nerve protectors, and nerve connectors is increasing across the globe. This is a major factor aiding the growth of the nerve repair and regeneration market.

Greater preference for drug therapies over nerve repair and regeneration products

For the treatment of neurological disorders, the preference for drug therapies is higher among patients. This is because there is limited awareness among patients about the availability of alternative surgical treatments that make use of nerve repair and regeneration devices. Moreover, surgeons in several countries have limited knowledge about the various biomaterials (allografts, autografts, and xenografts) and neuromodulation (sacral nerve stimulation and vagus nerve stimulation) devices used in nerve repair and regeneration. For instance, the Overactive Bladder (OAB) syndrome remains untreated in many individuals across the globe due to lack of awareness about effective treatment options, such as sacral nerve stimulation. Thus, the lack of awareness about the benefits of using biomaterials or neuromodulation devices in the treatment of several neurological disorders is expected to restrain the growth of this market during the forecast period.

Potential of stem cell therapy in nerve repair and regeneration

Stem cell therapy, an emerging branch of medicine that has the potential to restore organ and/or tissue function in patients suffering from serious injuries or chronic diseases, is showing significant potential in nerve repair applications. Based on clinical research findings, stem cell therapy offers better quality results than nerve graft surgeries. Furthermore, stem cell therapy is currently being studied for the treatment of Parkinson’s disease and Alzheimer’s disease. Considering the potential applications of stem cell therapy in the treatment of several neurological conditions, coupled with its advantages over nerve graft surgeries, stem cell therapy for nerve repair and regeneration can become a potential growth area for market players in the coming years.

Difficulties in treating large nerve gap

Although nerve conduits are successful in the regeneration of nerve gaps, it is claimed that repairing nerve gaps exceeding 3 centimeters in length is a difficult task. Companies such as AxoGen (AxoGuard Nerve Connectors), Stryker (NeuroMatrix, Neuroflex), and Integra LifeSciences (NeuraGen Nerve Guide) are working on bringing technological improvements in conduits for aiding the regeneration of long nerve gaps. The most pressing challenge in building nerve conduits includes the development of tissue-engineered nerve grafts that exceed the performance of autografts; the primary challenge involved is the large gap between the proximal and distal ends of the nerve.

The objectives of this study are as follows:

• To define, describe, and forecast the market on the basis of product, application, end user, and region
• To provide detailed information regarding the major factors influencing growth of the market (drivers, opportunities, restrains, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
• To forecast revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia, and the Rest of the World (RoW)
• To profile key players and comprehensively analyze their market shares and core competencies in terms of market development and growth strategies
• To track and analyze competitive developments such as merger and acquisitions, regulatory approvals, product launches and agreement in the market

During this research study, major players operating in the nerve repair and regeneration market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

To know about the assumptions considered for the study, download the pdf brochure

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).

Major Market Developments

• In June 2015, Boston Scientific launched precision novi spinal cord stimulator system in Europe and received CE Mark approval for it
• In January 2016, Polyganics (the Netherlands) signed an agreement with MicroAire Surgical Instruments (US) to distribute its peripheral nerve repair products in the US and Canada
• In January 2017, Abbott Laboratories acquired St. Jude Medical to strengthen its position in the neuromodulation market
•  In September 2017, Medtronic (Ireland) received FDA approval Intellis platform spinal cord stimulator (SCS)
• In May 2015, Axogen (US) received FDA approval for Avance nerve graft

Target Audience for this Report:

• Nerve repair and regeneration manufacturers and vendors
• Distributors of nerve repair and regeneration devices
• Market research and consulting companies
• Insurance provider

Scope of the Report:

This report categorizes the market into the following segments:

Nerve Repair and Regeneration Market, by Product

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

Nerve Repair and Regeneration Market, by Application

• Neurostimulation and Neuromodulation Surgeries
  • Internal Neurostimulation and Neuromodulation Surgeries
  • External Neurostimulation and Neuromodulation Surgeries
• Direct Nerve Repair/ Neurorrhaphy
  • Epineural Repair
  • Perineural Repair
  • Group Fascicular Repair
• Nerve Grafting
  • Autograft
  • Allograft
  • Xenograft
• Stem Cell Therapy

Nerve Repair and Regeneration Market, by End User

• Hospitals and clinics
• Ambulatory Surgery Center

Nerve Repair and Regeneration Market, by Region

• North America
  • US
  • Canada
• Europe
• Asia
  • China
  • Japan
  • India
  • Rest of Asia (RoA)
• Rest of the World (RoW)

Critical questions which the report answers

• What are new application areas which the nerve repair and regeneration companies are exploring?
• Which are the key players in the market and how intense is the competition?

Available Customizations:

• Company Information: Detailed company profiles of five or more market players
• Further breakdown of the market into specific countries/regions in Europe, and the Rest of the World

The global 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%. Nerve repair and regeneration products are used by medical professionals for surgical interventions to restore normal nerve function. Increasing number of neurological disorders, rising geriatric population, and technological advancements are the major driving factors for this market.

Based on product, the market is segmented into neurostimulation and neuromodulation devices and biomaterials. Neurostimulation and neuromodulation devices are further categorized into internal and external neurostimulation devices, while the biomaterials segment includes nerve conduits, nerve protectors, nerve wraps, and nerve connectors.

By region, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, however, the Asian region is expected to witness the highest growth during the forecast period. The presence of emerging economies like China and India; large population; growth in the number of hospitals, and increasing neurological disorders in the region are some of the key factors driving the high growth of this regional segment.

Nerve repair and regeneration applications in neurostimulation and neuromodulation surgeries, and direct nerve repair/neurorrhaphy drive the growth of nerve repair and regeneration market

Neurostimulation and Neuromodulation Surgeries

Neuromodulation techniques are significantly gaining acceptance as cost-effective and long-term therapies to treat nerve-related disorders and other diseases. The minimally invasive nature of this technique increases its adaptability; hence, it is considered an outpatient procedure. Moreover, these therapies are reversible, that is, non-destructive, which allows physicians to cease treatment as and when required by removing stimulating devices. Factors such as the complex reimbursement structure in all regions, cost of devices, lack of trained professionals (to carry out these procedures), and the presence of alternative therapies like drugs and electroconvulsive therapy will hamper the growth of this market.

Direct Nerve Repair/Neurorrhaphy

Neurorrhaphy is a primary end-to-end reconnection of the facial nerve stumps. Neurorrhaphy helps to provide the best possible outcome as the anatomy and function of the damaged facial nerve is restored. Neurorrhaphy in head and neck surgery is now most commonly performed during the nerve graft replacement of an injured or resected nerve and during the neural anastomosis of a sensate or functional free tissue flap.

Critical questions the report answers:

• Where will all these developments take the industry in the mid to long term?
• What are the upcoming industry applications for nerve repair and regeneration?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Greater preference of drug therapies over nerve repair and regeneration products is expected to restrain the growth of nerve repair and regeneration market. For the treatment of neurological disorders, the preference for drug therapies is higher among patients. This is because there is limited awareness among patients about the availability of alternative surgical treatments that make use of nerve repair and regeneration devices. Moreover, surgeons in several countries have limited knowledge about the various biomaterials (allografts, autografts, and xenografts) and neuromodulation (sacral nerve stimulation and vagus nerve stimulation) devices used in nerve repair and regeneration. Moreover, lack of skilled and trained professionals is also one of the factor restraing the growth of the market. According to estimates from the American Academy of Neurology, there were 16,366 neurologists in the US in 2012, and this figure is estimated to reach 18,060 by 2025; however, the demand for neurologists in the country is projected to increase from 18,180 in 2012 to 21,440 by 2025. As a result, there will be a shortfall of about 3,400 neurologists (or a 19% drop in the total number of neurologists) in the country by 2025.

Medtronic (US), Boston Scientific (US), Abbott Laboratories (US), LivaNova (UK), Baxter (US), AxoGen (US), and Stryker (US) are the top players in Nerve Repair and Regeneration Market. These companies have a broad product portfolio with comprehensive features and have a strong geographical presence. These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.