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Peripheral Nerve Repair Devices Market By Device Type (Nerve Grafts, Nerve Protectors, Nerve Conduit, (Nerve Guides, Nerve Connectors and NeuroTube Device), Other Peripheral Nerve Repair Devices (Fibrin Glue, Suture)) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025

Peripheral nerve injury is one of the most common conditions arising from trauma, accidents, or neuronal disease, requiring surgical treatment interventions depending on the severity of the condition. Primarily, a peripheral nerve gets repaired on its own; however, surgical interventions are employed for improved outcomes and faster functional recovery. According to the statistics mentioned by the leading player in the nerve repair market, AxoGen, Inc., in 2014, around 1.4 million Americans experienced a nerve injury, and 0.9 million people required surgical intervention. Such a high prevalence indicates the necessity of surgical procedures, which drive the market for peripheral nerve repair devices. The goal of nerve repair devices is to prevent neuroma formation, lower neuropathic pain, and restore muscle function and sensation.

Nerve repair techniques involve both traditional procedures and technologically advanced methods using nerve grafts or nerve conduits. Nerve grafting, particularly autografts, is the gold standard in treating larger gaps, with the sural nerve being the most commonly used; however, the disadvantages of autografts, such as limited graft length and donor site complications, have encouraged the acceptance of alternative approaches. With the introduction of advanced and innovative devices, the market for autografts or traditional procedures is declining.

The development of nerve conduits utilizing biological material led to improved clinical results compared to using synthetic constituents. On the basis of device, the global nerve repair devices market has been segmented as "nerve grafts," "nerve protectors," and "nerve conduits," where "nerve graft" is expected to generate the majority of revenue in the global nerve repair devices market. This report encompasses the cross-sectional details of each segment and sub-segment, considering 2016 as the base year and projected to 2025 with a corresponding CAGR calculated from 2017–2025.

Global sales of peripheral nerve repair devices are greatly influenced by the high prevalence of peripheral nerve injury and peripheral neuronal disorders. The World Health Organization shared that injury causes the death of more than five million people globally, and such a high prevalence led to the increasing usage of nerve repair devices and drove the global market to grow. Globally, the rising geriatric population acts as one of the major drivers of the market for nerve repair devices, as the elderly population is associated with nerve injury or damage.

This research report on the global peripheral nerve repair devices market provides a detailed market analysis with 2016 as the base year and a CAGR of 17.5% from 2017 to 2025. The market dynamics study has been presented in this report, including market drivers, restraints, opportunities, and future market scope. The current market scenario and projected future market trends have been mentioned in detail to allow industry experts to make business decisions. The competitive landscape analysis of major players in the peripheral nerve repair market with major partnership, collaboration, merger, and acquisition activities has been explained in this study to develop accurate business strategies.

The peripheral nerve repair devices market is segmented into five main regions, which are further sub-segmented as follows:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

The major players in the peripheral nerve repair devices market are Axogen Inc., Synovis Micro Companies Alliance, Inc., Stryker, Medovent GmbH, Integra LifeSciences Corporation, Polyganics, Toyobo Co., Ltd., and others. This research report includes detailed profiles of these players, as well as a brief description and financial data.

On the basis of devices used in the treatment of nerve injury, the global peripheral nerve repair devices market has been classified as below:

  • Nerve Grafts
  • Nerve Protectors
  • Nerve Conduit
  • Nerve Guides
  • Nerve Connector
  • NeuroTube Device
  • Other Peripheral Nerve Repair Devices (Fibrin Glue, Sutures)

Traditional autograft is considered the gold standard for nerve repair due to its improved therapeutic effect by lowering the immunological reaction; however, a few limitations of the autograft procedure have led to the adoption of emerging advanced technology. Avance from AxoGen, Inc. is the only FDA-approved commercially available nerve-processed allograft, which is preferred among surgeons due to its variable size and no risk of comorbidities with effective bridging between nerve gaps.

Nerve conduits are expected to grow the fastest in the coming years, as their use helps to reduce morbidity at the donor site, reduces the risk of scarring, and provides tensionless linking where simple suturing is not possible. The growing use of nerve protectors, which help to protect nerves by reducing inflammatory reactions, maintaining their position, and inhibiting adhesion to surrounding tissues, is driving the global market for nerve repair devices. Nerve guides are gaining acceptance among medical professionals for successful axonal regrowth immediately after injury and for preserving the functionality of nerves.

Based on geography, the global market for peripheral nerve repair devices is cumulative for North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.North America is considered to be the most dominant region of the global market for peripheral nerve repair devices, followed by Europe. An estimated 20 million Americans suffer from peripheral nerve injury each year, accounting for approximately US$ 150 billion in healthcare costs; this high trend has a significant impact on the growth of the global peripheral nerve repair devices market.

The increasing geriatric population and the direct presence of major manufacturers of peripheral nerve repair devices positively influence the market's growth in North America. Favorable reimbursement policies for nerve repair surgical procedures also positively influence the market's proliferation. Europe is contributing significant growth to the peripheral nerve repair devices market on account of the high incidences of peripheral nerve injury, which are around 300,000 annually, and 100,000 surgeries are performed to treat injured nerves.

Furthermore, with an increase in cases of peripheral nerve injury, Asia-Pacific is expected to see significant growth. Rapid development in healthcare facilities and the adoption of technologically advanced products to provide improved treatment also boost the market growth.

The comprehensive regional classification of the global market for peripheral nerve repair devices is as follows:

  • North America (including the U.S. and Canada)
  • Europe (including the U.K., Germany, and the rest of Europe)
  • Asia Pacific (including India, China, Japan, and the rest of Asia Pacific)
  • Latin America (including Brazil, Mexico, and the rest of Latin America)
  • Middle East and Africa (including the Gulf Cooperation Council and the rest of the Middle East and Africa) 

Frequently Asked Question:

The market for Peripheral Nerve Repair Devices Market is expected to reach USD$ XX Bn in 2025.

The Peripheral Nerve Repair Devices Market is expected to see significant CAGR growth over the coming years, at 11.1%.

The report is forecasted from 2017 -2025

The base year of this report is 2016.

Axogen Inc., Synovis Micro Companies Alliance, Inc., Stryker, Medovent GmbH, Integra LifeSciences Corporation, Polyganics. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Nov 2017
Category:  Medical Devices
Report ID:   58854
Report Format:   PDF
Pages:   120
Rating:    4.8 (80)
Delivery Time: 24 Hours to 48 Hours   
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