Nerve Repair and Regeneration Market to Generate $12.3 billion by 2030, States the Report by Allied Market Research

A lead analyst at AMR highlighted that the nerve repair and regeneration market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.

Allied Market Research published a research report on the nerve repair and regeneration market. The findings of the report states that the global market for nerve repair and regeneration generated $6.6 billion in 2020 and is projected to reach $12.3 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.

The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Increase in the occurrence of neurological & epidemic disorders among people, rise in geriatric population, and increase in expenditure on healthcare are expected to drive the growth of the global nerve repair and regeneration market. On the other hand, high cost of treatments and devices are expected to hinder the growth to some extent. However, rise in awareness about effective clinical treatments are expected to create ample opportunities for the industry.

“North America is expected to dominate the global nerve repair and regeneration market during the forecast period. However, the market is growing at a faster rate in the developing countries, owing to the increase in the number of patients suffering from neurological diseases and improvement in the healthcare facilities,” said Hemali Narkhede, Manager, Healthcare Research at AMR.

The report provides a detailed scenario of the impact of the Covid-19 pandemic on the nerve repair and regeneration market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global nerve repair and regeneration market, owing to the presence of lockdowns in various countries across the globe. More and more healthcare professionals in hospitals and clinics were increasingly focussed on treating COVID-19-affected patients, and hence the general hospital care for non-COVID-19 patients were reduced due to the subsequent increase in the number of cases. However, the market is expected to recoup soon.

The report offers a detailed segmentation on the global nerve repair and regeneration market based on product, surgery and region.

Based on product, the neuromodulation surgery devices segment held the largest share in 2020, holding more than two-thirds of the global market. The biomaterials segment, on the other hand, is expected to cite the fastest CAGR of 7.0% during the forecast period.

Based on surgery, the neuromodulation surgery segment held the dominating market share in 2020, holding nearly half of the global market. The direct neuropathy segment, on the other hand, is predicted to cite the fastest CAGR of 7.6% during the forecast period.

Based on region, the market across North America held the lion’s share in 2020, holding around two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 7.5% during the forecast period.

The key players analyzed in the global nerve repair and regeneration market report include NeuroPace, Inc., NeuroSigma, Polyganics B.V., Stryker Corporation, Abbott Laboratories, AxoGen Inc., Boston Scientific Incorporation, Integra Lifesciences Corporation, Medtronic plc, Synovis Micro Companies Alliance, Inc.