As per the report published by Credence Research, Inc. “Peripheral Nerve Repair Devices Market (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,” the global peripheral nerve repair devices market is estimated to grow at CAGR of 11.1%.
Browse the full report Peripheral Nerve Repair Devices Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at http://www.credenceresearch.com/report/peripheral-nerve-repair-devices-market
Peripheral nerve injury is a physically disabling condition affecting 13-23 per 100,000 persons annually and having an adverse socio-economic impact. Trauma, accidents, neurological syndrome affect the structural and functional state of nerves which needs surgical interventions for its functional recovery. The mode of treatment is dependent on the severity of the condition and the amount of the gap or defect in nerves. Nerve autografts is most considered treatment for nerve injury, however the market is growing with new product innovation for successful nerve repair and axonal growth.
Rising incidence of peripheral nerve injury worldwide is the foremost driver of global peripheral nerve repair devices. Increasing health awareness with surging demand of surgical interventions drive the market growth. The developing healthcare infrastructure and increasing prevalence of neurological disorders boost the growth of peripheral nerve repair devices market. However, fully functional recovery is not often achieved even after surgical intervention, which further indicates the necessity of developed approach. Presently many cell-based therapies are at clinical trials which is expected to diminish complications associated with present techniques for improved regeneration of nerve and might hinder the growth of peripheral nerve repair devices market over coming years. The market potential is higher for peripheral nerve repair devices market, although the market penetration is still lower and it is anticipated that the market will grow in forecast periods as a result of target application and surgical advancement.
The peripheral nerve repair devices market has been segmented on the basis of device type (Nerve grafts, Nerve protectors and nerve conduits), where nerve grafts and nerve conduits collectively contribute major growth to the peripheral nerve devices market as a result of improved bridging of nerve gaps with efficient outcomes and minimal complications. Biologically degradable conduits are mostly becoming popular as a result of lower immunological reactions whereas, synthetic conduits need to get removed once the nerve gets healed.
In the year 2016, the global peripheral nerve repair devices market was dominated by North America in terms of revenue due to the maximum number of procedure performed in the United States. Growing elderly population along with increasing incidences of peripheral nerve injury majorly drive the peripheral nerve repair devices market to grow. Asia Pacific is also expected to witness major growth with rising incidences and developing healthcare infrastructure.
The chief players operating in peripheral nerve repair devices market include Axogen Inc., Synovis Micro Companies Alliance, Inc., Stryker, Medovent GmbH, Integra LifeSciences Corporation, Polyganics, Toyobo Co., Ltd. and others.