Nerve Repair Market

Nerve Repair Market Outlook (2023 to 2033)

The overall sales in the global nerve repair market are expected to surpass US$ 272.4 million in 2023, registering growth at 12.2% CAGR between 2023 and 2033. With the growing prevalence of neurological illness, the sales in the market are projected to reach US$ 861.4 million in 2033.

As the cases of several chronic nervous systems such as Alzheimer's and Parkinson’s disease rise, the demand for nerve repair products is predicted to burgeon over the forecast period. Further, growth in the market will accelerate on the back of technological advancements in neurological treatments.

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.

Sales Analysis of Nerve Repair Market from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Sales in the nerve repair market expanded at a CAGR of 10.6% between 2018 and 2022. However, growth in the market is predicted to surge by 3.1xxthrough 2023 & beyond.

Key players in the market are increasing the manufacturing of nerve repair products as the prevalence of neurological disorders surges. Additionally, an increase in nerve repair expenditure is likely to drive sales in the nerve repair market over the forecast period (2023 to 2033).

As per the study, cases of nerve damage in developed countries are increasing, fuelling the demand in the market. According to the American Society for Peripheral Nerve, an average of 1.2 million procedures are performed alone in the United States.

An estimated US$ 150 billion are spent on medical care for nerve injuries yearly in the US. This portrays the expenditure on nerve repair, replacement, and regeneration due to a rise in cases of indications like amyotrophic lateral sclerosis, multiple system atrophy, Parkinson’s disease, Alzheimer’s disease, and multiple sclerosis.

According to the Pan American Health Organization in 2019, neurological conditions account for 32.9 deaths per 100,000 populations, out of which 33.1 deaths per 100,000 populations in men and 32.2 deaths per 100,000 populations in women.

Hence, to reduce the global burden, key players are increasing the manufacturing of nerve repair products. Consequently, governments across the globe are also investing in creating awareness across countries such as India, South Africa, and others, propelling the sales of nerve repair products over the forecast period. On the back of this, the demand for nerve repair is poised to expand at a CAGR of 12.2% from 2023 to 2033.

What are the Key Trends Driving the Growth in Nerve Repair Market?

Key Players are Capitalizing on Untapped Opportunities in South & East Asia

Key players are eyeing the East and South Asia markets to capitalize on the growing demand for neurological products coupled with rising awareness in countries such as India, China, and Japan. They are also tapping into the markets of Mexico, Indonesia, and other Middle Eastern nations. This is also expected to fuel the demand in the nerve repair market.

Further, leading producers are investing a great deal of effort into streamlining their Research and Development and improving production for nerve repair products. Due to the cost-effectiveness achieved by outsourcing their manufacturing capabilities, CDMOs will likely anticipate a profitable decade.

Sabyasachi Ghosh

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What are the Factors Restraining the Demand within the Nerve Repair Market?

In addition to grafting, there are a number of other treatment options for nerve repair. Stem cell treatment is another method for regenerating damaged nerves. The injured nerve is ultimately repaired by the adult stem cells, which are applied directly to the affected area. Over the projected period, this is expected to impede the growth of the market's sales revenues for nerve repair.

Furthermore, the infrastructure for health care is typically inadequate in emerging economies like Brazil, Argentina, and a number of Middle Eastern and African nations. There are an insufficient number of highly skilled healthcare practitioners due to the underdeveloped healthcare infrastructure. This has ultimately resulted in the lack of adoption of cutting-edge therapies for nerve repair and other treatments in emerging economies, which has limited sales revenue in the market for nerve repair.

These factors cumulatively propose a negative effect on the developmental growth of the nerve repair market.

Country-wise Insights

What Makes the United States a Highly Lucrative Nerve Repair Market?

Availability of Favorable Reimbursement Policies in the United States to Fuel the Sales

Growth in the market is underpinned by the strong presence of several health insurance companies. These companies incorporate government programs to provide insurance coverage for standard procedures in nerve repair and regeneration. Backed by this, the United States nerve repair market is set to witness stupendous growth over the upcoming decade.

In the United States, the reimbursement system is a combination of public/private payers, where government, employers, and individuals, bear the cost. Around 200 million people in the United States were insured with some form of private insurance, while 70 - 80 million were insured by public insurance in 2020, as per the Commonwealth Fund.

What is the Demand Outlook for Germany Nerve Repair Market?

Increasing Cases of Nerve Injury to Create Lucrative Sales Prospects in Germany

The motor reflexes become less active among patients with neurological trauma and minor accidents. In Germany, the number of patients with nerve injury is surging as the population ages. According to a study, people aged 50 and older undergo over 65% of limb surgeries, and 82% of surgeries worldwide are performed as a result of diabetes and peripheral vascular diseases. This is anticipated to propel the demand for nerve repair products in the country.

How is Japan Nerve Repair Market Becoming a Hotbed of Medical Innovation?

The Rising Geriatric Population Drives Demand for Nerve Repair Solutions in Japan

Japan has one of the world's leading aging populations, which is prone to nerve-related disorders and injuries. The increasing geriatric population presents a significant market opportunity. There is a growing demand for nerve repair products and services to cater to this population. This trend is expected to continue due to ongoing demographic shifts. The government has implemented various initiatives to address the healthcare needs of its population.

The country's high healthcare expenditure, strong research and development activities, government initiatives, and collaborations contribute to the overall development of the market. The Trauma and Microsurgery Center at Toyohashi Municipal Hospital in Japan conducted a study in 2023 to evaluate the mid-term outcomes of digital nerve injuries treated with Renerve® synthetic collagen nerve conduits. The success rate of the treatment was found to be 85%.

What Factors Contribute to the Demand for Nerve Repair Treatments in the United Kingdom?

United Kingdom Nerve Repair Market Surges as Minimally Invasive Procedures Gain Popularity

The United Kingdom has witnessed a rise in nerve injuries. Around one out of every six individuals in this country is affected by at least one neurological condition, resulting in an estimated annual diagnosis of 600,000 people. These conditions have the potential to impact individuals from all walks of life without any specific age or time restrictions.

The United Kingdom has a well-established healthcare system. It is considered one of the leading markets for medical devices and treatments. Nerve repair is a rapidly evolving field within the healthcare sector in the United Kingdom. Continuous innovations in surgical techniques, regenerative medicine, and neurostimulation technologies drive it. These advancements are enhancing the treatment options available for nerve repair patients.

Minimally invasive nerve repair procedures are becoming increasingly popular in the United Kingdom. These procedures offer numerous advantages, such as reduced scarring, shorter recovery time, and fewer post-operative complications. The demand for minimally invasive techniques in nerve repair in this country is expected to witness significant growth during the forecast period.

Will China Emerge as the Most Remunerative Nerve Repair Market?

China to Contribute Nearly 2/5th of Sales in the Global Nerve Repair Market

With growing awareness regarding neurological disorders and increasing government initiatives, China is anticipated to witness favorable growth during the forecast period. This is mostly due to the presence of numerous biomaterial and mobility devices manufacturing companies.

The country also has a robust supply-chain system, and with burgeoning cases of Alzheimer's among the geriatric population, the demand in the market is predicted to rise at a rapid pace. Further, improved healthcare infrastructure and technological advancements in the treatment of nerve repair and regeneration will create a conducive environment for the market.

How has Telemedicine Transformed Patient Care in the India Nerve Repair Market?

India's Booming Medical Tourism Industry Boosts Nerve Repair Sector

India has been a popular place for medical tourism. It is estimated that about 50,000 nerve repair surgeries are conducted in India annually. This is due to its high-quality healthcare infrastructure. Skilled healthcare professionals are another contributing factor. Cost-effective treatments in India attract international patients. The growth of medical tourism has positively impacted the nerve repair industry. International patients specifically seek advanced nerve repair procedures in India.

The spectrum of neurological disorders is prevalent in various regions of the country, with rates ranging from 967 to 4,070 cases per 100,000 population. On average, there are around 2,394 cases per 100,000 population. This estimate suggests that over 30 million individuals are affected by neurological disorders in the country. The success rate of nerve repair in India is generally good, with a reported success rate of up to 90% for certain types of injuries.

Teleconsultations and remote monitoring are now common for follow-up care. This reduces the necessity for physical visits to healthcare facilities. Telemedicine has the potential to improve access to nerve repair specialists. Patients in remote areas can benefit significantly from this advancement. It enables them to connect with specialists without the need for travel. Access to nerve repair expertise becomes more convenient and accessible.

Category-wise Insights

Which Type of Nerve Repair Product is Gaining Traction?

Over 42% of Revenue in the Nerve Repair Market to be Contributed by Nerve Grafts

A nerve graft is a self-healthy cell made from a human nerve allograft, which is applied on a damaged nerve and proposed for the surgical repair of peripheral nerve breaks. Effective results of this grafting make this segment a leading factor driving the growth of the overall nerve repair market. Nerve grafts excel at bridging critical gaps between severed nerve endings. In cases of complete nerve severance, nerve grafts serve as indispensable conduits, reestablishing connections and facilitating regeneration. Their ability to bridge these gaps is crucial for repairing important nerve injuries and restoring functionality.

Nerve grafts foster nerve regeneration through the inclusion of endoneurial tubes. These tubular structures within the grafts facilitate the growth of regenerating nerve fibers. By serving as a conducive environment for regeneration, nerve grafts promote the intricate process of nerve repair, leading to improved outcomes for patients. Moreover, advancements in nerve graft technology have bolstered their standing in the market. Processed nerve allografts, derived from human tissue donors, have emerged as a promising alternative to autografts.

What Type of Nerve Repair will Generate Maximum Revenue in the Market?

Epineural Nerve Repair is the Most Preferred among Neurologists

The epineural nerve repair procedure is a common surgical process to repair a nerve cut via the epineurium and repair the nerve fibers originating from the spinal cord. This procedure is very effective and easy to conduct, improving the adoption among healthcare professionals. Epineural nerve repair is highly effective in restoring nerve function and improving patient outcomes. It surpasses alternative methods in promoting successful nerve regeneration. Its consistent high success rates have established it as a reliable and trusted solution. The medical community recognizes its efficacy and relies on it for nerve repair. The safety profile of Epineural Nerve Repair is exceptional. It has minimal complications and adverse effects reported. This outstanding safety record appeals to healthcare providers and patients. It offers a reliable and low-risk option for nerve repair.

Which is the Leading End User in the Nerve Repair Market?

Hospitals to Generate Nearly 3/5th of Revenue in Nerve Repair Market

The availability of advanced medical equipment for comprehensive patient care in hospitals is the key factor propelling the growth in the segment. Moreover, with contracts through multiple distribution channels, hospitals can provide services with subsidized costs for equipment. With a large patient footfall and a growing burden of neurological disorders, the adoption of nerve repair products in hospitals is predicted to surge over the forecast period.

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

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)