Peripheral Nerve Repair Market Trends Forecast 2022-28

NEW CITY, N.Y. - Dec. 6, 2022 - PRLog -- The global peripheral nerve repair market size was valued at USD 7,172.9 million in 2021 and is poised to grow at a significant CAGR of 8.3% during the forecast period 2022–2028. The nervous system is vulnerable to a variety of injuries due to the complex and subtle structures of the spinal cord, peripheral nerves, and brain. This has ramifications in neurodegenerative disorders, which cause significant functional deficits. The peripheral nerve regeneration is aided by the nerve repair and regeneration devices. Factors such as an increase in the prevalence of nerve injuries, an increase in the elderly population, resulting in an increase in the incidences of neurological disorders, and an expansion of government funding for neurologic disorder research are expected to drive the growth of the nerve repair biomaterials market during the forecast period. Furthermore, market development, the potential of stem cell treatment in nerve repair and regeneration, and increased research in the field of neurology will all lead to the enhancement of the nerve repair biomaterials market over the projection period.

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Moreover, donor-site morbidity, difficulties treating large nerve gaps, strict governmental underlines and time-consuming support methods, a preference for therapeutic strategies over nerve repair and regeneration commodities, a lack of qualified experts, and product recalls will all pose additional challenges to the market's growth in the near future.

The global peripheral nerve repair market segmentation:
1) By Device Type: Nerve Grafts, Nerve Protectors, Nerve Conduit, and Others.
2) By Application: Extremity Trauma, Breast Neurotization, Carpal and Cubital Tunnel Revision, Oral and Maxillofacial

Due to the obvious rising frequency of neurological illnesses and the availability of appropriate repayment standards, North America dominates the nerve repair biomaterials industry. Furthermore, strong occurrences of industry players would aid the expansion of the nerve repair biomaterials market in the area over the forecast period. Because of the growing target population base and increasing vigilance among patients, Asia Pacific is expected to account for a considerable portion of the development in the nerve repair biomaterials market. Furthermore, supportive government initiatives, an increase in the number of unmet medical needs, and the entrance of improved technology are all factors to consider.

Some of the major key players working in the peripheral nerve repair market, which include AxoGen, Inc. (US) Integra LifeSciences Holdings Corporation (US) Boston Scientific Corporation (US) Medtronic PLC (Ireland) Polyganics BV (Netherlands) Collagen Matrix Inc (US) Stryker Corporation (US) Baxter International Inc. (US).