Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Global Peripheral Nerve Injury Market" report has been added to ResearchAndMarkets.com's offering.
The global peripheral nerve injury market is poised for significant growth over the next decade, with projections suggesting a leap from USD 1.57 billion in 2023 to USD 3.57 billion by 2034.
At a compound annual growth rate (CAGR) of 7.76%, the market's expansion reflects increasing peripheral nerve injury cases worldwide, and improvements in treatment modalities. Factors influencing this robust market growth include an aging population, technological breakthroughs in nerve repair and regeneration, heightened awareness, early intervention, and tailored medical approaches.
Innovations in Nerve Repair Surgery and Neuromodulation Technologies Propelling Market Dynamics
The peripheral nerve injury sector is undergoing a transformative period attributed to significant strides in biomaterials, neurostimulation technologies, and surgical advancements, greatly benefiting patients with enhanced recovery times and outcomes. Recent FDA approvals for technologically advanced neuromodulation therapy devices to treat chronic pain syndromes highlight the market's vibrant innovation landscape.
Nerve Conduits and Wraps Segments Spearhead Product Innovation
Within the market, nerve conduits lead the product segment, propelled by the adoption of cutting-edge biomaterials and nerve conduit technologies. Strategic collaborations among industry players showcase the drive toward innovation and improvement of nerve healing capabilities. Furthermore, the nerve wraps segment is expected to grow rapidly due to its precise application in nerve repair procedures and advancements in tissue engineering.
Direct Nerve Repair and Stem Cell Therapy Shine in Surgery Procedures
The direct nerve repair procedure segment stands as a major contributor to market revenues, underpinned by the growing need for surgical interventions following traumatic injuries. On the other hand, the promise of stem cell therapy is rapidly gaining traction, with research pointing towards its potential to regenerate nerve tissues and enhance functional recovery.
Market Domination by Lower Extremities Application and Emphasis on Rehabilitation
The application of peripheral nerve injury treatments to lower extremities commands the market share, driven by an increased focus on restoring patient mobility. Technological advancements lead to new approvals for nerve monitoring systems assisting in this endeavor. Upper extremities injuries also hold a strong growth projection due to their prevalence and the requisite need for effective treatment options.
Hospitals and Clinics Lead End-User Segment, Home Care Settings to Grow Rapidly
Hospitals and clinics are currently the leading end-users in the market, attributed to their pivotal role in providing diagnosis, surgical treatment, and post-operative care. However, there is a noteworthy rise in demand for home care settings, with advancements in telehealth technology and home-based rehabilitation playing a crucial role.
North America and Asia Pacific: Key Regions in the Spotlight
The North American region promises the highest revenue share in the forecast period, supported by its strong healthcare infrastructure and ongoing research and development activities. Concurrently, the Asia Pacific market is set to exhibit the highest CAGR, thanks to increasing healthcare investments, rising awareness, and a burgeoning patient base.
The presented data and analysis highlight the surging demand and innovation in the peripheral nerve injury market globally, with far-reaching impacts and implications for healthcare systems and patient outcomes worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $1.57 Billion |
| Forecasted Market Value (USD) by 2034 | $3.57 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
Study Coverage
- Market Forecast by Product, Surgery, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Company Profiles of the Top 10+ Major Market Players
- Axogen Inc.
- Integra LifeSciences Corporation
- Medtronic plc
- Stryker Corporation
- Polyganics
- Baxter International Inc.
- Abbott Laboratories
- Neurotex Limited
- Boston Scientific Corporation
- Orthomed S.A.S.
- AxoGen Inc.
- Polyganics B.V.
- Collagen Matrix Inc.
- NeuroMetrix Inc.
- Nuvectra Corporation.
Report Segmentation:
Peripheral Nerve Injury Market Analysis & Forecast by Product
- Nerve Conduit
- Nerve Protector
- Nerve Connector
- Nerve Wraps
Peripheral Nerve Injury Market Analysis & Forecast by Surgery
- Direct Nerve Repair
- Nerve Grafting
- Stem Cell Therapy
Peripheral Nerve Injury Market Analysis & Forecast by Application
- Upper Extremities
- Lower Extremities
Peripheral Nerve Injury Market Analysis & Forecast by End-User
- Hospitals and Clinics
- Rehabilitation Centers
- Home Care Settings
For more information about this report visit https://www.researchandmarkets.com/r/um4s5k
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