Neurostimulation, neuromodulators, and biomaterial devices are among the goods available for nerve repair and regeneration. These devices are used to treat traumatic or neurodegenerative conditions such Alzheimer’s, Parkinson’s, multiple sclerosis, amyotrophic lateral sclerosis, and multiple system atrophy.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Nerve Repair and Regeneration Market Size, Share & Industry Trends Analysis Report By Surgery, By Product, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06289274/?utm_source=GNW
The spinal cord,brain, and peripheral nerves are all delicate and easily damaged, which can make it difficult for the brain to communicate with muscles and organs. These damages are repaired with nerve repair and regeneration products.
As in developing countries, the market opportunity for nerve repair and regeneration is growing, because healthcare spending continues to climb. The overall increase in awareness of the usage of nerve repair and regeneration devices to treat ailments including Parkinson’s disease, Alzheimer’s disease, and other neurological disorders is predicted to boost market growth. Furthermore, the nerve repair and regeneration market is expected to grow as individuals become more aware of therapeutic treatments such as immune response and neuroregeneration, spinal cord repair, peripheral nerve regeneration and repair, and nerve cell regrowth.
Remyelination post grade I lesions and collateral axon sprouting and proximal-to-distal nerve regeneration following grade II to grade V lesions are the two methods of nerve regeneration. Healing of function happens as the Schwann split happens and initiates remyelination in focal demyelinating lesions. Conduction, and hence strength, is restored in a matter of weeks or months, although the new myelin sheath is frequently thinner and has many internodes for each original internode.
The emergence of COVID-19 had a detrimental influence on the nerve repair and regeneration sector, as hospital and healthcare services were drastically decreased as a result of global social distancing measures. Furthermore, the COVID-19 pandemic had an economic impact and had a significant influence on normal hospital care for non-COVID-19 patients in hospitals all over the world. The need for nerve repair or regeneration procedures has decreased while numerous hospitals and clinics remain closed due to the lockdown.
Market Growth Factors
Rise in number of researches around the world
With the large population bases, rising incidences of neurological illnesses, and growing healthcare infrastructure and expenditure, emerging economies like India, China, and Brazil offer lucrative new opportunities to the companies operating in this market. As various stem cell treatment studies under way for nerve repair and regeneration, the developing technologies of stem cell therapy also provide huge prospects for market expansion. In the last several years, research in the field of neurology has expanded and continues to increase.
Increasing cases of nerve injuries
Nerve repair and regeneration products are in high demand due to the rising frequency of neurological illnesses and the increased number of occurrences of nerve injury. The geriatric population is growing all across the world. The market’s growth is fueled by the large geriatric population and the widespread frequency and incidence of nerve illnesses among them. Market players and researchers are concentrating their efforts on developing neurostimulation and neuromodulation technologies like next-generation neurostimulation devices, company collaborations to launch advanced products, and the introduction of new technologies, are propelling the market forward. The government’s funding in neurological illness research is helping healthcare organizations to boost their research work and improve the efficacy of the nerve repair and regeneration products and procedures.
Market Restraining Factors
Lack of skilled healthcare professionals
The market is confronted with a number of obstacles that are slowing its rate of expansion. There is a shortage of qualified experts who are required for neurological interventions due to a wide disparity between demand and supply of neurologists around the world. Tissue morbidity affects donor nerves frequently, which is a big problem. Neural gaps more than 3 cm are difficult to fix with nerve conduits. Neuromodulation and neurostimulation devices, for example, fall under Class II or Class III medical devices, depending on the application, and require premarket notification via the 510(k) process for clearance and marketing in the US market.
Based on Surgery, the market is segmented into Neuromodulation Surgery, Direct Neuropathy, Nerve Grafting, and Stem Cell Therapy. Stem Cell Therapy segment recorded a substantial revenue share in nerve repair and regeneration market in 2021. The market is expected to increase as a result of various government efforts and approvals to perform clinical studies of biomaterials. In the United States, there are roughly 570 clinics that provide stem cell therapies, and this number is likely to grow, boosting segment growth.
Based on Product, the market is segmented into Neuromodulation Surgery Devices and Biomaterials. The neuromodulation surgery devices segment acquired the largest revenue share in nerve repair and regeneration market in 2021. It is because of increased consumer awareness of nerve repair and new technology breakthroughs in the healthcare industry. In addition, the segment’s expansion was fueled by a substantial number of commonly available spinal cord products and a diverse range of applications.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as a leading region in the nerve repair and regeneration market in 2021 with the largest revenue share. It is due to an increase in the occurrence of neurodegenerative and neurodevelopmental illnesses, stroke, and traumatic brain injuries, as well as an increase in patient awareness of nerve repair and regeneration techniques.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Abbott Laboratories are the forerunners in the Nerve Repair and Regeneration Market. Companies such as Medtronic PLC, Boston Scientific Corporation and Stryker Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Integra Lifesciences Corporation, Medtronic PLC, Axogen, Inc., Stryker Corporation, Checkpoint Surgical, Inc., Polyganics BV, Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.), and OrthoMed, Inc.
Recent Strategies Deployed in Nerve Repair and Regeneration Market
Product Launches and Product Expansions:
Mar-2022: Integra LifeSciences introduced NeuraGen 3D Nerve Guide Matrix, a resorbable implant for the repair of peripheral nerve discontinuities. This product is developed to make an optimized environment, which would enable a more complete functional recovery following mid-gap nerve repair when compared to hollow nerve conduits alone.
Aug-2021: Checkpoint Surgical expanded its intraoperative nerve care product line with the launch of the NeuroShield Chitosan Nerve Wrap. This product would mark Checkpoint’s first product in a planned line of chitosan-based biological implants to support nerve healing. By adding NeuroShield, Checkpoint would take a significant step toward a more comprehensive intraoperative nerve care solution.
Mar-2021: Abbott unveiled NeuroSphere Virtual Clinic, a first-of-its-kind technology. This technology enables patients to interact with physicians, make sure proper settings and functionality, and get new treatment settings remotely as per the requirements.
Nov-2020: Abbott launched the IonicRF Generator, a new device recently cleared by the U.S. Food and Drug Administration. This device is used to deliver a non-surgical, minimally invasive treatment for the management of pain in the nervous system. The product is a radiofrequency ablation device, which utilized heat to target specific nerves and block pain signals from reaching the brain.
Acquisitions and Mergers:
Aug-2021: Checkpoint Surgical took over NeuroShield from Monarch BioImplants, a Swiss company. In this acquisition, the NeuroShield Wrap would mark Checkpoint’s first product in a planned line of chitosan-based biological implants to help in nerve healing. This acquisition would support Checkpoint Surgical’s existing product portfolio, including the company’s flagship Checkpoint Nerve Stimulator/Locator.
Nov-2020: Medtronic took over Medicrea International, a pioneer in the transformation of spinal surgery. Through this acquisition, Medtronic would become the leader in customized implants and AI-driven planning and prediction capabilities laying a foundation for the future of individualized patient care.
Feb-2020: Medtronic completed the acquisition of Digital Surgery, a UK-based firm with a focus on surgical artificial intelligence (AI), data, and analytics. In this acquisition, Digital Surgery would join the Surgical Robotics business, a part of Medtronic’s Minimally Invasive Therapies Group. In addition, the acquisition would also strengthen Medtronic’s portfolio and its robotic-assisted surgery platform.
Jan-2020: Medtronic acquired Stimgenics, a spinal cord stimulation company. Under this acquisition, Stimgenics developed a spinal cord stimulation waveform known as Differential Target Multiplexed Spinal Cord Stimulation. In addition to this, the therapy is delivered via Medtronic’s Intellis platform and is a chronic pain treatment option. DTM therapy would improve the treatment of chronic pain, supported by clinical evidence and preclinical research on a neuronal-glial mechanism of action.
Approvals and Trials:
Apr-2022: Boston Scientific received approval from The US Food and Drug Administration (FDA) for its Vercise Neural Navigator with STIMVIEW XT, the next-generation image-guided programming software for deep brain stimulation (DBS) therapy. STIMVIEW XT enables healthcare professionals to evaluate real-time lead placement and simulation modeling of brain anatomy for Parkinson’s disease or essential tremor patients.
Feb-2022: Medtronic got approval from the U.S. Food and Drug Administration (FDA) for InterStim X, the next generation of the InterStim portfolio’s recharge-free device. This device is the standard of care in advanced therapy options, and the most customized system, to provide sacral neuromodulation (SNM) therapy.
Oct-2020: Medtronic received approval from U.S. Food and Drug Administration (FDA) for the NIM Vital nerve monitoring system. This system allows physicians to identify, confirm, and monitor nerve function to assist in reducing the risk of nerve damage during head and neck surgery.
Jan-2020: Medtronic received approval from the U.S. Food and Drug Administration for its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator. This approval would help in the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN). This new indication provides patients with DPN access to Medtronic’s top spinal cord stimulation (SCS) portfolio of rechargeable and recharge-free platforms.
Apr-2021: Polyganics expanded its geographical footprints by building a state-of-the-art, purpose-built facility on the Zernike Campus, Groningen. The new building would house Polyganics’ research laboratories, manufacturing and packaging facilities, and its offices. The expansion would make it important to accommodate Polyganics’ expanding workforce and allow the Company to respond to the rising demand for its commercial and pipeline products.
Scope of the Study
Market Segments covered in the Report:
• Neuromodulation Surgery
• Direct Neuropathy
• Nerve Grafting
• Stem Cell Therapy
• Neuromodulation Surgery Devices
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Abbott Laboratories
• Boston Scientific Corporation
• Integra Lifesciences Corporation
• Medtronic PLC
• Axogen, Inc.
• Stryker Corporation
• Checkpoint Surgical, Inc.
• Polyganics BV
• Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.)
• OrthoMed, Inc.
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