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Global Peripheral Nerve Injuries Market Growth Prospects, Future Industry Landscape And Forecast To 2033
Global Peripheral Nerve Injuries Market Growth
As per the report, the peripheral nerve injuries market size has grown rapidly in recent years. It will grow from $3.49 billion in 2023 to $3.93 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The peripheral nerve injuries market size is expected to see rapid growth in the next few years. It will grow to $6.34 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.
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Rising Incidence of Peripheral Nerve Injuries and Market Growth
The increasing incidence of accidents is expected to propel the growth of the peripheral nerve injuries market going forward. The increasing incidence of accidents can be attributed to a combination of factors, including changes in urbanization which lead to higher traffic volumes, lifestyle, environmental conditions, and distracted behaviors. Peripheral nerve injuries often necessitate comprehensive treatment strategies to mitigate their impact and facilitate recovery. Investigational treatments such as stem cell therapy, growth factor administration, or gene therapy may hold promise for enhancing nerve regeneration and functional recovery for patients injured due to accidents. For instance, in October 2023, according to the Bake, The Road Safety Charity, a UK-based government organization, there were 1,766 road deaths in 2022 in the UK, with 1,711 occurring in Britain and 55 in Northern Ireland. Furthermore, the number of road deaths increased by 10% since 2021. Therefore, The increasing incidence of accidents drives the peripheral nerve injuries market.
Driving Innovation In Peripheral Nerve Injury Therapeutics Investing in Research and Development
Major companies operating in the peripheral nerve injuries market are investing in nerve injury therapeutic research and development, aiming to enhance nerve regeneration, improve functional outcomes, and address unmet medical needs for patients affected by such injuries. Company investments drive progress and innovation in the peripheral nerve injuries market, leading to the development of advanced therapies, improved patient outcomes, and enhanced quality of life for individuals affected by nerve injuries. For instance, in October 2022, NervGen Pharma Corp., a Canada-based pharmaceutical company, was awarded up to $1.5 million in funding from the US Department of Defense (DoD) to evaluate its investigational therapeutic NVG-291-R for the treatment of peripheral nerve injury (PNI). The funding would support preclinical research to establish proof-of-concept for using NVG-291-R to improve the rate and extent of nerve regeneration following PNI.
The peripheral nerve injuries market covered in this report is segmented -
1) By Product: Nerve Conduit, Nerve Protector, Nerve Connector, Nerve Wraps
2) By Injury: Traumatic Injuries, Compression Injuries, Surgical Injuries
3) By Surgery: Direct Nerve Repair, Nerve Grafting, Stem Cell Therapy
4) By Application: Upper Extremities, Lower Extremities
5) By End-User: Hospitals And Clinics, Rehabilitation Centers, Home Care Settings
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Major companies operating in the peripheral nerve injuries market are Abbott Laboratories, Medtronic Plc, Stryker Corporation, Boston Scientific Corporation, Integra LifeSciences Holdings Corp., Bioventus LLC , MicroPort Scientific Corporation, Nevro Corp., AxoGen Inc., Bioness Inc., SPR Therapeutics Inc., Stimwave Technologies Inc., SetPoint Medical Inc., NeuroMetrix Inc., Polyganics BV, Regenity Biosciences , Renerva LLC , Aleva Neurotherapeutics SA, Neuraptive Therapeutics Inc., Neuros Medical Inc., Synapse Biomedical Inc., Orthocell Ltd., NeuraLace Medical Inc., MyndTec Inc., Epineuron LLC
Contents of the report:
1. Executive Summary
2. Peripheral Nerve Injuries Market Report Structure
3. Peripheral Nerve Injuries Market Trends And Strategies
4. Peripheral Nerve Injuries Market - Macro Economic Scenario
5. Peripheral Nerve Injuries Market Size And Growth
…..
27. Peripheral Nerve Injuries Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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