At 9.6% CAGR, the North America Nerve Repair & Regeneration Market is projected to be worth US$ 6,463.51 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the North America nerve repair & regeneration market was valued at US$ 3,721.38 million in 2022 and is expected to reach US$ 6,463.51 million by 2028, registering a CAGR of 9.6% from 2022 to 2028. Surging incidence of nerve injuries and high prevalence of neurological disorders and scaling geriatric population and rising prevalence of age-associated neurological disorders are the critical factors attributed to the North America nerve repair & regeneration market expansion.

Nerve injuries are widespread and may have severe implications for the patient. Most nerve injuries result from either chronic cumulative trauma or acute injury. According to the National Center for Biotechnology Information, traumatic brain injury (TBI) may result from trauma ranging from a simple blow to the head to a penetrating injury to the brain. Furthermore, as per the same source in the US, around 1.7 million people suffer a traumatic brain injury, with adolescents between ages 15 & 19 and adults aged 65 & older among the more likely to sustain a traumatic brain injury in 2019. Further, according to the National Center for Biotechnology Information, moderate to severe TBI may be a primary cause of injury-induced death and disability. In the US, it's annual incidence of about 500 in 100,000. Nevertheless, around 80% of all TBI cases are classified as mild head injuries. Neurological disorders such as Parkinson's disease, dementia, epilepsy and seizures, autism, brain tumors, and cerebral palsy, Alzheimer's disease among others affect the brain and nerves of the human body. In the US, the prevalence of neurological disorders is increasing. According to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is one of the top 10 leading causes of death in the US. In 2020, Alzheimer's disease affected 5.8 million people in the US. Similarly, according to the Parkinson's Foundation Prevalence Project, it was estimated that 930,000 individuals with Parkinson's Disease present in the US by 2020. Additionally, the Alzheimer's Association estimates that more than 6 million Americans have Alzheimer's disease, and the number is projected to reach nearly 13 million by 2050. Thus, the growing incidence of nerve injuries and high prevalence of neurological disorders is expected to drive the North America nerve repair & regeneration market during the forecast period.

On the contrary, dearth of trained professionals hampers the growth of the North America nerve repair & regeneration market.

Based on product type, the North America nerve repair & regeneration market is segmented into neurostimulation and neuromodulation devices biomaterials. The neurostimulation segment held 64.8% of the North America nerve repair & regeneration market share in 2022, amassing US$ 2,412.42 million. It is projected to garner US$ 3,853.31 million by 2028 to expand at 9.6% CAGR during 2022–2028.

Based on application, the North America nerve repair & regeneration market is categorized into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration applications segment held 60.0% of the North America nerve repair & regeneration market share in 2022, amassing US$ 2,234.07 million. It is projected to garner US$ 3,853.31 million by 2028 to expand at 9.5% CAGR during 2022–2028.

Based on country, the North America nerve repair & Regeneration Market has been segmented into the US, Canada, and Mexico.  Our regional analysis states that the US captured 87.3% of the North America nerve repair & regeneration market share in 2022. It was assessed at US$ 3,247.90 million in 2022 and is likely to hit US$ 5,636.83 million by 2028, exhibiting a CAGR of 9.6% during the forecast period.  

Key players dominating the North America nerve repair & Regeneration Market are Axogen Corporation; Boston Scientific Corporation; Integra LifeSciences; Medtronic; Abbott Laboratories; Stryker Corporation; Neuronetics; LivaNova PLC; Baxter; and Polyganics BV among others.

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