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Nerve Repair and Regeneration Devices - Global Market Trajectory & Analytics

  • ID: 4805293
  • Report
  • March 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Ltd.
  • Albireo Energy, LLC
  • Emerson Electric Company
  • GE Grid Solutions
  • Omron Corporation
  • Samsara Networks, Inc.
  • MORE

Global Nerve Repair and Regeneration Devices Market to Reach $11.8 Billion by 2026


Nerve repair and regeneration products are used for restoration of the normal functioning of damaged nerves. The rapid rise in the incidence of nerve injuries worldwide, increasing prevalence of various neurological disorders, especially in the expanding elderly population, and development of advanced technology-based nerve repair and regeneration products are fueling growth in the global market. The constant increase in incidence of nerve injuries is leading to high demand for nerve repair and regeneration products. The growing incidence of chronic nervous system disorders such as Parkinson`s and Alzheimer`s disease is also driving demand for nerve repair and regeneration procedures and devices. There is also increased funding for clinical trials aimed at development of effective and safe therapies for treatment of various neurological disorders. Initiatives such as stem cells in umbilical blood infusion for cerebral palsy; and the use of Polyethylene glycol (PEG) drug for promoting axonal fusion technique for repairing peripheral nerve injuries are favoring market growth.

Amid the COVID-19 crisis, the global market for Nerve Repair and Regeneration Devices estimated at US$6.6 Billion in the year 2020, is projected to reach a revised size of US$11.8 Billion by 2026, growing at a CAGR of 10% over the analysis period. Neurostimulation & Neuromodulation Devices, one of the segments analyzed in the report, is projected to grow at a 9.7% CAGR to reach US$10.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biomaterials segment is readjusted to a revised 11.7% CAGR for the next 7-year period. This segment currently accounts for a 13.8% share of the global Nerve Repair and Regeneration Devices market. The neurostimulation and neuromodulation devices segment growth will be fueled by rising incidence of peripheral nerve injuries, development of technologically advanced products and favorable reimbursement scenario. Within the segment, internal neurostimulation and neuromodulation devices category is being driven due to the devices` ability to lower occurrence of post-surgical complications and reducing duration of hospitalization. Biomaterials segment is expected to witness high growth, driven by broadening application range, increased availability of government funding for innovations, and development of advanced products.

The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026


The Nerve Repair and Regeneration Devices market in the U.S. is estimated at US$2.2 Billion in the year 2021. The country currently accounts for a 30.45% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 13% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 8.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR while Rest of European market (as defined in the study) will reach US$2 Billion by the end of the analysis period. Increasing incidence of neurological diseases and expanding geriatric population, increasing spending on healthcare sector, positive reimbursement framework and presence of several leading industry players are fueling growth in the North America region. Asia-Pacific is poised to grow at a robust pace, driven by sizeable patient pool, favorable healthcare initiatives and high unmet healthcare needs. The Asia-Pacific market is expected to gain from notable surge in aging population, increasing awareness regarding neurological disorders, and rising incidence of cancer and osteoporosis.

Select Competitors (Total 61 Featured) -

  • ABB Ltd.
  • Accuenergy Ltd.
  • Albireo Energy, LLC
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Fluke Corporation
  • Fuji Electric FA Components & Systems Co., Ltd.
  • GE Grid Solutions
  • Greystone Energy Systems Inc.
  • Littelfuse, Inc.
  • Mitsubishi Electric Corporation
  • Omron Corporation
  • Rockwell Automation, Inc.
  • Samsara Networks, Inc.
  • Schneider Electric SE
  • Siemens AG
  • VaCom Technologies
  • Veris Industries
  • Yokogawa Electric Corporation.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Ltd.
  • Albireo Energy, LLC
  • Emerson Electric Company
  • GE Grid Solutions
  • Omron Corporation
  • Samsara Networks, Inc.
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • Global Nerve Repair & Regeneration Market Buckles under COVID-19 Strain
  • Covid-19 Patients in Prone Position Suffering Nerve Damage Bodes Well for Market Growth
  • Nerve Repair and Regeneration Market Set for a Robust Growth
  • Neurostimulation & Neuromodulation Devices Hold Commanding Slot in Nerve Repair & Regeneration Market
  • Biomaterials to Exhibit Rapid Growth
  • Nerve Repair and Regeneration Market by Application
  • US and Europe Dominate the Market
  • Asia-Pacific and other Emerging Regions Display Impressive Growth Potential
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • High Incidence of Neurological Disorders: A Key Market Driver
  • EXHIBIT 2: Annual Incidence of Adult-Onset Neurologic Disorders in the US
  • Effects of COVID-19 on the Nervous System Sheds Focus on Neuromodulation Applications
  • Increasing Cases of Peripheral Nerve Injuries Drive the Nerve Repair and Regeneration Market
  • Growing Number of Vehicular Accidents Drive the Peripheral Nerve injuries Repair Market
  • Rising Geriatric Population and Subsequent Growth in Prevalence of Neurological Disorders
  • EXHIBIT 3: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Growing Incidence of Neurodegenerative Diseases Propels the Market for Deep Brain Stimulation Devices
  • EXHIBIT 4: Global Alzheimer's Prevalence by Age Group
  • EXHIBIT 5: Diagnosed Prevalence Cases of Parkinson's Disease Across Select Countries
  • EXHIBIT 6: Global DBS Market by Leading Player (2020E): Market Share Breakdown of Revenues for Medtronic, Boston Scientific, and Abbott
  • Select Available Deep Brain Stimulation Devices Available in the Market
  • Intensified Research Activity Across Various Neural Disciplines Induces Additional Optimism
  • Stem Cell Therapy: A Promising Avenue for Nerve Repair and Regeneration
  • Increasing Cases of Epilepsy Drives the Demand for Vagus Nerve Stimulation Devices
  • EXHIBIT 7: Epilepsy Incidence by Type (2019): Percentage Share Breakdown for Idiopathic and Symptomatic Epilepsy
  • EXHIBIT 8: Symptomatic Epilepsy Incidence by Type (2019): Percentage Share Breakdown of Congenital, Degenerative, Infective, Neoplastic, Trauma, and Vascular Epilepsy
  • Spinal Cord Injuries Propel the Demand for Spinal Cord Stimulation Devices
  • Recent Developments in Spinal Cord Injury Treatment
  • Biomaterials (Nerve Conduits and Nerve Wraps) to Witness Rapid Growth
  • New Biomaterials Pave the Way for Innovative Neurodegeneration Therapies
  • Role of Nerve Conduits in the Treatment of Peripheral Nerve Injury
  • Innovative Nerve Conduits from Stryker
  • TENS (Transcutaneous electrical nerve stimulation devices) Market Witnesses Rapid Growth
  • Non-Invasiveness of TMS (Transcranial Magnetic Stimulation) Propelling the adoption of TMS devices
  • Nerve Grafts for Bridging Larger Nerve Gaps
  • Role of Nerve Grafting in Treatment of Peripheral Nerve Injuries
  • FDA-approved Nerve Tubes for Peripheral Nerve Repair
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 61

Note: Product cover images may vary from those shown
  • ABB Ltd.
  • Accuenergy Ltd.
  • Albireo Energy, LLC
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Fluke Corporation
  • Fuji Electric FA Components & Systems Co., Ltd.
  • GE Grid Solutions
  • Greystone Energy Systems Inc.
  • Littelfuse, Inc.
  • Mitsubishi Electric Corporation
  • Omron Corporation
  • Rockwell Automation, Inc.
  • Samsara Networks, Inc.
  • Schneider Electric SE
  • Siemens AG
  • VaCom Technologies
  • Veris Industries
  • Yokogawa Electric Corporation.
Note: Product cover images may vary from those shown
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