Growing incidences of peripheral nerve injuries, increasing cases of neurological disorders, growing aging population, and technological advancements in nerve repair and regeneration products are the key drivers for the market.
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Geographically, North America has been the largest market for nerve repair and regeneration, with the U.S. being the largest contributor to the regional market. Increasing incidence of peripheral nerve injuries and presence of technological advanced products has been driving the growth of the North American market. In Europe, Germany has been the largest contributor to the nerve repair and regeneration market, followed by the U.K. and France. The market is expected to witness highest growth in Asia-Pacific, during 2017 – 2023, owing to increasing cases of neurological disorders and increasing geriatric population.
The nerve repair and regeneration market is highly consolidated with top three players including Medtronic, Plc, Boston Scientific Corporation and St. Jude Medical, Inc. holding the major share. Medtronic Plc dominated the market in 2016. The company offers implantable neurostimulation and targeted drug delivery systems, such as SCS, DBS, GES and SNS systems for the management of chronic pain, common movement disorders, spasticity and urologic and gastrointestinal disorders.
Some of the other key players in the nerve repair and regeneration market are Axogen, Inc., Baxter International Inc., Cyberonics, Inc., Integra Lifesciences Holdings Corporation, Orthomed S.A.S., Stryker Corporation and Polyganics B.V.
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