Nerve Repair And Regeneration Market Size, Share & Trends Analysis Report By Product (Biomaterials, Neurostimulation and Neuromodulation Devices), By Surgery, By Region, And Segment Forecasts, 2018 - 2024

Industry Insights

The global nerve repair and regeneration market size was valued to be USD 5,900 million in 2015 and is projected to grow at a CAGR of 11.6% over the forecast period. The high incidence rate of neurological disorders, strong product pipeline attributed to the presence of key market players, and the improved treatment efficiency for neurological disorders due to technological advancement are the key drivers of the market. Furthermore, the widening applications and therapies in treating the various CNS disorders, such as Parkinson’s disease and Alzheimer’s, are further expected to boost the market growth over the forecast period.

For instance, according to the CDC data overview, Alzheimer’s is the sixth most dreadful disease in the US and the fifth leading factor for mortality in people above 65 years. In 2017, as per the CDC reports 5.5 million Americans had Alzheimer’s dementia and the annual number of new cases of Alzheimer’s and other dementias is estimated to grow to its double count by 2050 as a result of the rising aging population

In 2015, a report presented at the American Society for Surgery of Hand, in its annual meeting, stated that the processed nerve allograft used in the treatment of patients with upper extremity nerve impairments may lead to the restoration of motor and sensory nerve functions. Patients treated with a PNA allograft (Avance Nerve Graft, AxoGen) exhibited recovery of motor function and sensory nerve function in 75% and 85% of the patients, respectively.

Product Insights

The product segment for nerve repair and regeneration market is broadly classified into biomaterials and neurostimulation and neuromodulation devices. The latter segment is further sub-segmented into Spinal Cord Stimulation Devices (SCS), Deep Brain Stimulation Devices (DBS), Sacral Nerve Stimulation Devices (SNS), Vagus Nerve Stimulation Devices (VNS), Gastric Electric Stimulation Devices (GES).

Neurostimulation and Neuromodulation Devices accounted for the largest share in 2015 and SCS was the largest sub-segment with a market share of over 40% in 2015. The large number of commercially available spinal cord products and the wide range of applications were the factors responsible for the dominance of the segment.

Investment by market players to develop more efficacious devices is likely to propel the market in coming years. For instance, Precision Montage MRI Spinal Cord Stimulator System (Boston Scientific) received the FDA approval in May 2016. The company reported that their system provides 70% more relief from back pain.

In May 2015, the FDA approved the Senza Spinal cord Stimulation System. The Senza Spinal Cord Stimulator includes a rechargeable implantable stimulator, which is linked to one or two implant leads with external handheld patient controllers; this system is used for the treatment of chronic pain in the limbs or the trunk that is not as effectively minimized with conventional medicine.

Biomaterials segment is anticipated to grow at the fastest rate during the forecast period. This can be attributed to technological advancements, wide range of applications, government funding for innovations, and biocompatibility. Advanced products such as biodegradable polymers are expected to enhance spinal stabilization, healing of fractures, and reduce hospitalization.

Surgery Insights

This surgery segment consists of direct nerve repair or neurorrhaphy, nerve grafting, stem cell therapy, and neurostimulation & neuromodulation surgery. The stem cell therapy is the fastest growing application segment and neurostimulation & neuromodulation surgery held the largest market share of around 39.0% in 2015.

Increase in government initiatives and approvals to conduct clinical trials of biomaterials are anticipated to fuel the market growth. There are approximately 570 clinics in the U.S. providing stem cell therapies and the number is expected to rise.

Expected commercialization of the product in coming years due to investment by market players and research institute is anticipated to boost the market growth. For instance, in June 2016, Axonics Modulation Technologies was granted CE mark approval in European Union for its sacral nerve modulation system. The company has planned to commercialize it after a follow-up post-market clinical study.

Neurostimulation & neuromodulation surgery accounted for the largest share of the market due to the availability of several products and technological advancement to reduce chronic pain. For instance, in April 2016, St. Jude announced the launch of Axium Neurostimulator System in the U.S. and approved the implants for dorsal root ganglion. The system reduces the chronic pain complex regional pain syndrome I and II patients, which could not be achieved through traditional spinal cord stimulatory system.

Regional Insights

In 2015, North America dominated the market owing to the increasing incidence rate of neural disorders, presence of key market players, and health insurance coverage in the region.

Availability of technologically advanced devices owing to presence of major market players is a major factor for the dominance of the region. For instance, In February 2016, Medtronic plc launched Reclaim Deep Brain Stimulation (DBS) therapy for the obsessive-compulsive disorder in the U.S. Furthermore, Boston Scientific’s Precision Montage MRI-safe spinal cord stimulator, which is used for chronic pain, received FDA approval in May 2016.

Asia Pacific is the fastest growing region due to the increasing aging population, rising awareness in the patients, government initiatives being undertaken, presence of unmet medical needs, and innovative technologies entering into the developing economies, such as India and China.

China, India, Japan, Australia, and Singapore are the major countries contributing to Asia Pacific region. In December 2015, the Australian Therapeutics Good Administration (TGA) approved clinical trials for the treatment method testing based on human parthenogenetic stem cells (ISC-hpNSC) in patients suffering from Parkinson’s disease. This approval is anticipated to drive the stem cells therapy market in the region

Nerve Repair and Regeneration Market Share Insights

Key industry contributors are AxoGen, Inc., Stryker Corporation, St. Jude Medical, Inc., Baxter International, Inc., Polyganics B.V., Boston Scientific, Inc., Integra Lifesciences Corporation, Cyberonics, Inc., and Medtronic plc. The industry contributors have a broad product pipeline for neurological disorders. Also, there are innovative new products and therapies to improve the treatment efficiency as well as patient convenience.

For instance, in April 2016, St. Jude Medical, Inc. announced the launch of the first commercial implant for Dorsal Root Ganglion (DRG) therapy to treat chronic intractable pain conditions for patients suffering with complex regional pain syndromes. The U.S. launched implants of St. Jude Medical, Axium Neurostimulator System, treated patients effectively for the pain, which could not be otherwise alleviated with the traditional Spinal Cord Stimulation (SCS) therapy.

In March 2016, AxoGen, Inc. launched the AcroVal Neurosensory & Motor Testing System, which serves as a nerve function assessment tool in electronically measuring, mapping, and monitoring patients suffering with peripheral nerve injuries.

Report Scope

Segments covered in the report

This report forecasts revenue growth and provides an analysis on the market trends in each of the sub-markets from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global nerve repair and regeneration market report on the basis of product, surgery, and region:

• Product Outlook (Revenue, USD Million; 2013 - 2024)

  • Biomaterial

  • Neurostimulation and neuromodulation devices

    • Spinal cord stimulation devices

    • Deep brain stimulation devices

    • Sacral nerve stimulation devices

    • Vagus nerve stimulation devices

    • Gastric electric stimulation devices

• Surgery Outlook (Revenue, USD Million, 2013 - 2024)

  • Direct nerve repair/neurorrhaphy

  • Nerve grafting

  • Stem cell therapy

  • Neurostimulation and neuromodulation surgeries

• Regional Outlook (Revenue, USD Million; 2013 - 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

  • MEA

    • South Africa