The North America nerve repair & regeneration market is expected to grow from US$ 3,721.38 million in 2022 to US$ 6,463.51 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2022 to 2028.
Rising Prevalence of Age-associated Neurological Disorders among Geriatric Population Boosts North America Nerve Repair & Regeneration Market Growth.
A few neurologic disorders such as neuropathy, Alzheimer's disease, Parkinson's disease, and strokes are more common in the geriatric population, and their prevalence is rising with higher life expectancies. According to the WHO, the population aged 60 years will approximately double from 12% in 2015 to 22% by 2050, and mental and neurological disorders among older adults are likely to account for 6.6% of the total disability-adjusted life year (DALYs) for this age group. Also, as per the same source, ~15% of adults aged 60 and over have a mental disorder. Further, the number of people aged 65 years and above affected by Alzheimer's disease is expected to grow from ~5.8 million to 14 million by 2060 in the US. Moreover, neurological disorders are increasingly becoming a major cause of death across the region. For instance, according to the Centers for Disease Control and Prevention (CDC), Alzheimer's disease is the fifth leading cause of death in people aged 65 years and above. Therefore, the rising prevalence of age-associated neurological disorders among the geriatric population increases the demand for treatment of nerve repair & regeneration. This factor is propelling the growth of the North America nerve repair & regeneration market.
North America Nerve Repair & Regeneration Market Overview
The North America nerve repair & regeneration market is segmented into the US, Canada, and Mexico. The US held the largest share of the North America nerve repair & regeneration market in 2021. The increasing incidences of peripheral nerve injuries, neurological disorders, and diabetic peripheral neuropathy; a surge in government healthcare expenditure; and increasing clinical research & development of nerve repair products are propelling the market growth in the region.
North America Nerve Repair & Regeneration Market Revenue and Forecast to 2028 (US$ Million)
North America Nerve Repair & Regeneration Market Segmentation
The North America nerve repair & regeneration market is bifurcated on the basis of product and application.
Based on product, the North America nerve repair & regeneration market is segmented into neurostimulation and neuromodulation devices and biomaterials. The neurostimulation and neuromodulation devices segment accounted for a larger market share in 2022.
Based on application, the North America nerve repair & regeneration market is bifurcated into neurostimulation & neuromodulation applications and nerve repair & regeneration applications. The nerve repair & regeneration applications segment held a larger market share in 2022.
Based on country, the North America nerve repair & regeneration market is segmented into the US, Canada, and Mexico. Further, the US dominated the market in 2022.
Axogen Corporation, Boston Scientific Corporation, Integra LifeSciences, Medtronic, Abbott Laboratories, Stryker Corporation, Neuronetics, LivaNova PLC, Baxter, and Polyganics BV are the leading companies operating in the North America nerve repair & regeneration market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3,721.38 Million |
| Market Size by 2028 | US$ 6,463.51 Million |
| CAGR (2022 - 2028) | 9.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Nerve Repair & Regeneration Market is valued at US$ 3,721.38 Million in 2022, it is projected to reach US$ 6,463.51 Million by 2028.
As per our report North America Nerve Repair & Regeneration Market, the market size is valued at US$ 3,721.38 Million in 2022, projecting it to reach US$ 6,463.51 Million by 2028. This translates to a CAGR of approximately 9.6% during the forecast period.
The North America Nerve Repair & Regeneration Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Nerve Repair & Regeneration Market report:
The North America Nerve Repair & Regeneration Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Nerve Repair & Regeneration Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Nerve Repair & Regeneration Market value chain can benefit from the information contained in a comprehensive market report.
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