Peripheral Nerve Repair Market is Anticipated to Surpass US$ 17.46 Billion By 2031: Data Analysis by Experts Growth Plus Reports

Newark, New Castle, USA, July 04, 2023 (GLOBE NEWSWIRE) — According to the recent analysis conducted by Growth Plus Reports, the global peripheral nerve repair market was estimated to be worth US$ 6.10 Billion in 2022. With a projected revenue compound annual growth rate (CAGR) of 12.4%, the market is expected to reach US$ 17.46 Billion by 2031, showcasing significant growth opportunities in the coming years.

The global market for peripheral nerve repair was analysed and is expected to rise significantly during the forecast period. Peripheral nerve injuries can be brought on by trauma, surgery, or underlying medical disorders. These injuries can result in various symptoms, such as sensory loss, muscle weakness, and persistent pain. 

Key Takeaways: 

• The rising prevalence of nerve injuries is driving the market revenue share.
• The increasing preference for minimally invasive surgeries is driving the demand for the peripheral nerve repair market.
• Improved outcomes due to technological advancements are propelling the market revenue share.

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                                     Peripheral Nerve Repair Market Scope

Recent Development in the Global Peripheral Nerve Repair Market: 

• In August 2022, The FDA approved Abbott’s new Proclaim Plus spinal cord stimulation (SCS) device with FlexBurst360 therapy, the company reported. The FlexBurst360 procedure, the most recent iteration of Abbott’s patented BurstDR stimulation, reduces pain in as many as six different areas of the trunk and limbs and enables programming that may be changed as a person’s therapeutic requirements change.

Competitive Landscape

Following is a list of the top market players operating in the global market for peripheral nerve repair: 

• Renerva LLC
• Medovent GmbH
• Abbott Laboratories Inc.
• Stryker Corporation
• Medtronic Plc
• Toyobo Co., Ltd.

Market Drivers and Restraints: 

The global peripheral nerve repair market revenue is driven by the high frequency of nerve injuries, the growing interest in neuromodulation and neurostimulation technology, the aging population, and rising government funding for neurological disease research. Furthermore, one of the key aspects impacting the market for nerve repair and regeneration is the rise in neurological and epidemiological issues.

Market Segmentation: 

Segmentation By Product

Based on product, the global peripheral nerve repair market is segmented into neurostimulation and neuromodulation devices and biomaterials. Due to the rising need for non-invasive therapies and new technologies being created, the neurostimulation and neuromodulation devices segment accounts for the largest market revenue share. 

Segmentation By Application

Based on the application, the global peripheral nerve repair market is segmented into direct nerve repair, stem cell therapy, nerve grafting, neurostimulation and neuromodulation surgeries, and others. The direct nerve repair segment accounts for the largest revenue share due to improvements in surgical methods, rising public knowledge of this treatment option’s advantages, and rising demand for reliable nerve repair methods.

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Segmentation By End-User

Based on the end-user, the global peripheral nerve repair market is segmented into hospitals, ambulatory surgical centers, and others. The hospital segment accounts for the largest revenue share due to the rising patient pool, offering various services, including diagnosis, treatment, and rehabilitation.

Regional Growth Dynamics

Based on the region, the global peripheral nerve repair market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the sophisticated healthcare infrastructure, adoption of advanced tools, and leading region in technology, North America accounts for the largest market revenue share.

Report Coverage 

Growth Plus Reports studied the global market for peripheral nerve repair in-depth. Basic market features, revenue projections, important investment sectors, analyses of regional growth, rival market participants, and mergers and acquisitions were all examined.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
   4. Reimbursement Scenario
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL PERIPHERAL NERVE REPAIR MARKET – ANALYSIS & FORECAST, BY PRODUCT
   1. Neurostimulation and Neuromodulation Devices
   2. External Neurostimulation Device
      1. Transcranial Magnetic Stimulation (TMS)
      2. Transcutaneous Electrical Nerve Stimulation (TENS)
   3. Internal Neurostimulation Device
      1. Gastric Electrical Stimulation (GES)
      2. Vagus Nerve Stimulation (VNS)
      3. Sacral Nerve Stimulation (SNS)
      4. Spinal Cord Stimulation (SCS)
      5. Deep Brain Stimulation (DBS)
   4. Biomaterials
      1. Nerve Conduit
      2. Nerve Protector
      3. Nerve Connector
      4. Nerve Wraps
6. GLOBAL PERIPHERAL NERVE REPAIR MARKET – ANALYSIS & FORECAST, BY APPLICATION
   1. Direct Nerve Repair
   2. Stem Cell Therapy
   3. Nerve Grafting
   4. Neurostimulation and Neuromodulation Surgeries
   5. Others
7. GLOBAL PERIPHERAL NERVE REPAIR MARKET – ANALYSIS & FORECAST, BY END USER
   1. Hospitals 
   2. Ambulatory Surgical Centers
   3. Others

PERIPHERAL NERVE REPAIR MARKET TOC

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