The U.S. peripheral nerve injuries market size is anticipated to reach USD 712.52 million by 2030, registering an estimated CAGR of 7.32% from 2023 to 2030. The growth of the market is due to increasing healthcare expenditure in the U.S., an increasing prevalence of peripheral nerve injuries, growing focus on research and development, and a growing patient preference for minimally invasive procedures.
Technological advancements are revolutionizing the field of peripheral nerve injury treatment in the U.S. New and innovative treatment options such as nerve grafts, nerve conduits, and neurostimulation devices are providing improved outcomes and helping patients recover faster. Additionally, the use of minimally invasive surgical techniques, such as end-to-end nerve sutures and nerve decompression procedures, is gaining popularity among patients due to their benefits of faster recovery times. These advancements in medical technology are driving the growth of the market by providing more effective and less invasive treatment options.
Investments from key market players and collaborations between academia, industry, and healthcare institutions are driving R&D efforts, leading to the discovery of new treatment modalities. For instance, in June 2022, Vascudyne, Inc., a leading biotechnology company in regenerative medicine, was awarded a grant from Regenerative Medicine Minnesota for a research study titled "Production of a Peripheral Nerve Wrap Using Tissue Tubes from Regenerative Engineering." The study will be funded with USD 100,000 for one year, starting in June 2022, and will utilize Vascudyne's TRUE Tissue technology.
The COVID-19 pandemic has boosted the demand for minimally invasive procedures as it offer benefits such as shorter recovery times, potentially lower costs, better treatment options, and integration with telemedicine technologies. These factors may impact the market for U.S. peripheral nerve injuries positively.
Technological advancements are revolutionizing the field of peripheral nerve injury treatment in the U.S. New and innovative treatment options such as nerve grafts, nerve conduits, and neurostimulation devices are providing improved outcomes and helping patients recover faster. Additionally, the use of minimally invasive surgical techniques, such as end-to-end nerve sutures and nerve decompression procedures, is gaining popularity among patients due to their benefits of faster recovery times. These advancements in medical technology are driving the growth of the market by providing more effective and less invasive treatment options.
Investments from key market players and collaborations between academia, industry, and healthcare institutions are driving R&D efforts, leading to the discovery of new treatment modalities. For instance, in June 2022, Vascudyne, Inc., a leading biotechnology company in regenerative medicine, was awarded a grant from Regenerative Medicine Minnesota for a research study titled "Production of a Peripheral Nerve Wrap Using Tissue Tubes from Regenerative Engineering." The study will be funded with USD 100,000 for one year, starting in June 2022, and will utilize Vascudyne's TRUE Tissue technology.
The COVID-19 pandemic has boosted the demand for minimally invasive procedures as it offer benefits such as shorter recovery times, potentially lower costs, better treatment options, and integration with telemedicine technologies. These factors may impact the market for U.S. peripheral nerve injuries positively.
U.S. Peripheral Nerve Injuries Market Report Highlights
- Based on product/therapies, Nerve grafting segment dominated the U.S. peripheral nerve injury market share in 2022, accounting for 65.94%, owing to rapid advancements in nerve grafting techniques, such as autografts, allografts, and synthetic conduits
- Based on surgery, direct nerve repair segment dominated the U.S. peripheral nerve injury market and held the largest revenue share of nearly 42.67%. It is considered the gold standard of surgical treatment for severe cases
- Based on application, upper extremities segment held the largest U.S. peripheral nerve injury market share in 2022, accounting for 81.22%. increasing incidence of accidental falls and medical conditions, such as Guillain-Barre syndrome, diabetes, & carpal tunnel syndrome, is expected to drive the segment
- Based on end use, hospitals segment dominated the market in 2022. Increasing number of hospitals and surgical cases in hospitals are expected to boost the segment
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. Peripheral Nerve Injuries Market Variables, Trends & Scope
Chapter 4. U.S. Peripheral Nerve Injuries Market: Product/Therapies Estimates & Trend Analysis
Chapter 5. U.S. Peripheral Nerve Injuries: Surgery Estimates & Trend Analysis
Chapter 6. U.S. Peripheral Nerve Injuries: Application Estimates & Trend Analysis
Chapter 7. U.S. Peripheral Nerve Injuries: End-use Estimates & Trend Analysis
Chapter 8. U.S. Peripheral Nerve Injuries Market: Country Estimates & Trend Analysis
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Axogen Corporation
- Stryker/Collagen Matrix/Polyganics BV
- Integra Lifesciences Corporation
- Toyobo Co., Ltd.
- Alafair Bioscience
- Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 94 |
| Published | May 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 406.23 Million |
| Forecasted Market Value ( USD | $ 712.52 Million |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | United States |
| No. of Companies Mentioned | 6 |
