Technological Enhancements in Neurostimulation & Neuromodulation Devices Fuel the Nerve Repair & Regeneration Market Demand
Neurostimulation & Neuromodulation devices find their utilization in many applications such as to treat traumatic or neurodegenerative disorders such as Alzheimer’s disease, amyotrophic lateral sclerosis, multiple sclerosis, Parkinson’s disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders. The use of these devices in multiple applications is contributing to the growth of the nerve repair & regeneration market.
Rising Occurrence of Neurological Disorders Boosts the Nerve Repair & Regeneration Market
According to the WHO, more than one billion individuals globally are plagued by some form of neurological disorder.
Stem Cell-Based Therapies Expand the Growth Opportunities in the Nerve Repair & Regeneration Market
Peripheral nerve injuries (PNIs) are among the most common types of traumatic nervous system lesions. The research findings suggest that the pluripotential stem cell from bone marrow, adipose tissue, skin, dental pulp, umbilical cord, or from nerve trunks can differentiate into Schwann cells and nerve cells with axons which could further help in the regeneration of the missing nerves.
North America Expected to Continue to Hold a Major Share in the Nerve Repair & Regeneration Market
Geographically, North America accounts for a sizable portion of the nerve repair and regeneration market. This can be mainly attributed to the rising geriatric population, growing adoption of technologically advanced products, and favorable reimbursement landscape in the region.
Competitive Landscape Analysis of the Nerve Repair & Regeneration Market
Some of the key players operating in the market include AxoGen Inc., Stryker, Baxter International Inc., Polyganics B.V., and Medtronic plc., among others.
Organic Growth Strategies Adopted by Players to Establish Their Foothold in the Nerve Repair & Regeneration Market Market
§  In January 2023, Abbott announced that they have received the U.S. FDA approval for its Proclaim XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes
§  In October 2022, Phageneis announced that they have received U.S. FDA de novo approval for the Phagenyx neurostimulation system, which uses pharyngeal electrical stimulation to restore swallowing control in patients with severe dysphagia post-stroke
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