Nerve Repair Biomaterials Market (2018-2025) Expanding in Nerve Injuries With Top Players Like Stryker, Collagen Matrix, xoGen, Checkpoint Surgical, Polyganics,
Global Nerve Repair Biomaterials Market is expected to reach USD 775.59 million by 2024 from USD 326.71 million in 2016, at a CAGR of 11.5% in the forecast period 2017 to 2024.
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Major Players: Global Nerve Repair Biomaterials Market
Integra LifeSciences Corporation,
Collagen Matrix, Inc.,
xoGen, Inc., Checkpoint Surgical, Inc.,
Synovis Micro Companies Alliance, Inc.
Nerve Repair Biomaterials Market Segmentation:
The global nerve repair biomaterials market is witnessing a rapid growth due to increasing geriatric population, high incidence of nerve injuries and neurological disorders, favorable reimbursement policies, and increased government funding. The demand for nerve repair biomaterials is increasing in hospitals followed by ambulatory trauma centres due to increasing aging population and rising number of nerve injuries and nerve surgeries.
Based on product type, the global nerve repair biomaterials market is segmented into nerve repair and nerve protection. In 2016, nerve repair dominated the market with a share of 74.5% and is expected to dominate the market in the future.
The global nerve repair biomaterials market is further segmented into nerve conduits and nerve grafts. In 2017, the nerve conduits segment is expected to account for the largest share. Nerve repair graft is further segmented into allograft and acellularized allograft. Nerve protection market is segmented into nerve protector and nerve wrap. In 2016, nerve protector market dominated the market with the largest share and is expected to dominate in the forecast period 2017-2024.
Based on the injury type, the nerve repair biomaterials market is segmented into epineural nerve repair, perineural nerve repair, and group fascicular repair.
On the basis of end user, the global nerve repair biomaterials market is categorized into hospitals, clinics, and ambulatory surgical centres. In 2017, hospitals segment is expected to dominate the market in the forecast period 2017-2024.
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Drivers: Global Nerve Repair Biomaterials Market
Some of the major factors driving the market for nerve repair biomaterials market is witnessing a rapid growth due to increasing geriatric population, high incidence of nerve injuries and neurological disorders, technological advancements, expanding target application of neuromodulation devices, favourable reimbursement policies, and increased government funding.
Increasing Geriatric Population And Incidences Of Peripheral Nerve Injuries
Rapidly increasing geriatric population and incidence of peripheral nerve injuries and neurological disorders is a major factor contributing to the growth of this market. Painful peripheral neuropathy is a common neurological disorder which is categorised by weakness, numbness, tingling and pain, and it often starts in the hands or feet. There are more than 100 types of peripheral neuropathy with specific symptoms and prognosis.
Technological Advancements Over Surgery Through Autografts
Nerve repairs have received the lowest priority since tissue viability is considered first and foremost on the surgeon’s mind. Vascular repair, organ integrity and bone repair care is taken immediately and nerve repairs are either not handled or are cared last. This is due to the dilemma associated with some of the peripheral nerve repair options such as autograft which leads to other morbidity. Due to these factors companies are focusing on developing new technologies.
Expanded Target Application Of Neuromodulation Devices
Application of neuromodulation to new therapeutic areas will drive growth in the market. Expansion of indications has been a historic growth driver of neuromodulation and is expected to continue to drive this market over the forecast period.
Favourable Reimbursement Policies
Favourable reimbursement policies and strengthening healthcare infrastructure in developing countries are factors that could propel growth of this market. Innovation in nerve regeneration techniques and improved therapies for the treatment of neurological disorders are expected to push nerve repair market towards significant growth.
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