DelveInsight’s Peripheral Nerve Repair Devices Market Insights, Competitive Landscape and Market Forecast–2026 report provides a thorough understanding of current market dynamics, market segment analysis and Peripheral Nerve Repair Devices key players.
Peripheral Nerve Repair Devices Overview
Peripheral nerve repair devices are specialized products that help in nerve regeneration and repair.
Peripheral Nerve Repair Devices Market
Peripheral Nerve Repair Devices Market By Product Type (Nerve Conduits, Nerve Protectors, Nerve Grafts, And Others), By End User (Hospitals, Ambulatory Surgical Centers, And Others), and by geography is expected to grow at a steady CAGR forecast till 2026 owing to increasing prevalence of peripheral nerve injuries due to rise in trauma cases and chemotherapy-induced peripheral neuropathy.
Peripheral Nerve Repair Devices Market Size
Global Peripheral Nerve Repair Devices Market is projected to grow at a 10.76% CAGR during the forecast period from 2021 to 2026. The demand for peripheral nerve repair devices is primarily being boosted by increasing incidence of peripheral nerve injuries due to increase in trauma cases and prevalence of lifestyle disorders such as hypertension and diabetes, increasing prevalence of cancers, innovation in product development thereby contributing in the growth of the peripheral nerve repair devices market during the forecast period from 2021-2026.
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Peripheral Nerve Repair Devices Market Companies
- Integra LifeSciences
- Axogen Inc
- Medovent GmbH
- Synovis Micro Companies Alliance, Inc
- Stryker
- Toyobo Co. Ltd
- Polyganics BV
- Collagen Matrix Inc
- Neuroregen L.C.C
- Cook Biotech Products
Peripheral Nerve Repair Devices Market Dynamics:
The peripheral nerve repair devices market is witnessing a growth in product demand owing to various reasons, one of the key factors being the increase in the incidence of peripheral nerve injuries. According to the Global Burden of Disease Study 2017, global estimates of the burden of falls show that falls were ranked as the 18th leading cause of age-standardized rates of disability-adjusted life years in 2017, outranking conditions such as chronic kidney disease, Alzheimer’s disease and other dementias, and asthma. Moreover, according to the World Health Organization, 2021, an estimated 684,000 fatal falls occur each year, making it the second leading cause of unintentional injury death, after road traffic injuries. 37.3 million Falls that are severe enough to require medical attention occur each year.
Peripheral nerve injury (PNI) can be caused due to trauma, neurological syndrome, and accidents such as falls which affect the functional and structural state of nerves that require surgical interventions for recovery. Therefore, the increase in the number of falls resulting in peripheral nerve injuries is projected to result in the growing demand for peripheral nerve repair products, thereby contributing in the growth of the peripheral nerve repair devices market during the forecast period from 2021-2026.
Peripheral Nerve Repair Devices Market Segment Analysis
Peripheral Nerve Repair Devices Market by Product Type (Nerve Conduits, Nerve Protectors, Nerve Grafts, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Peripheral Nerve Repair Devices Market Product Segment
In the product segment of the Peripheral Nerve Repair Devices Market, the nerve conduits product category is expected to account for a significant revenue share during the forecast period. This can be ascribed to their advantageous properties such as biodegradability, biocompatibility, and high porosity, flexibility among other features which offer better neuroconductivity and neuroinducitivity among other product types.
Additionally, the development of nerve conduits in different designs such as fibrous and tubular shapes, use of different materials such as biomaterials also help addressing the limitations presented by allografts, xenografts, and autografts. Furthermore, it has been observed that nerve conduits offer trophic support to nerve stumps and also prevent the growth of the surrounding tissues in the gaps between the stumps. They also promote nerve regeneration by providing a supportive microenvironment for axonal growth thereby providing better outcomes in events of peripheral nerve damage or injury.
Highest Peripheral Nerve Repair Devices Market Share: Region
North America is expected to dominate the overall Peripheral Nerve Repair Devices market during the forecast period, 2021 to 2026. Owing to significant growth factors such as rising prevalence peripheral nerve injuries due to the increasing prevalence of diabetes, hypertension, obesity, the aging population, rising prevalence of various types of cancers and rising government initiatives regarding disease treatment awareness, the North America Peripheral Nerve Repair Devices Market is expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, new product approvals, and increased awareness also propelled the market growth in this region.
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