U.S. Peripheral Nerve Injuries Market: Key Drivers and Emerging Trends

The U.S. peripheral nerve injuries market size was valued at USD 406.23 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.32% from 2023 to 2030. 

The growth of the market is attributed to factors such as a rising geriatric population coupled with increasing demand for minimally invasive procedures, technological advancements in surgical techniques and tools, and growing awareness among healthcare professionals and patients about peripheral nerve injuries.

Increasing funding by both private and public organizations is expected to play an important role in market growth. For instance, in September 2019, Renerva, LLC, a medical device company focused on innovating various techniques and technologies for Peripheral Nerve Injuries, received funding of USD 500,000 from the National Institute of Health (NIH), and the National Science Foundation (NSF). Similarly, in October 2022, NervGen Pharma Corp. was awarded up to USD 1.5 million in Department of Defense funding from MOMRP/JPC-5 to evaluate NervGen’s NVR-291-R for enhanced restoration and enable the accelerated function for peripheral nerve injuries.

Gather more insights about the market drivers, restrains and growth of the U.S. Peripheral Nerve Injuries Market

Peripheral nerve damage is estimated to affect around 20 million people in the U.S., causing symptoms that may range from mild discomfort to severe disability. It may go undiagnosed or untreated. Moreover, current procedures can be associated with limitations that impact the quality of life. Thus, to address the issue, there have been some technological advancements in this market. For instance, Axogen is focused on the development and commercialization of technology for peripheral nerve repair & regeneration. Axogen’s platform for nerve repair & regeneration is built of complex portfolio of products such as biologically active, off-shelf processed human nerve allograft. This can serve as a bridge between severed peripheral nerves with up to 70 mm without any associated comorbidities.

Furthermore, COVID-19 has highlighted the importance of minimizing hospital stays and reducing the risk of complications associated with invasive procedures. This could result in an increasing emphasis on minimally invasive procedures for peripheral nerve injuries, such as endoscopic techniques, nerve decompression procedures, and ultrasound-guided interventions. These procedures may offer shorter recovery times, reduced hospital stays, and potentially lower costs, which could impact the market for traditional open surgical interventions.

Browse through Grand View Research's Medical Devices Industry Research Reports.

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U.S. Peripheral Nerve Injuries Market Report Segmentation

Grand View Research has segmented the U.S. peripheral nerve injuries market report based on product/therapies, surgery, application, and end-use:

Products/Therapies Outlook (Revenue, USD Million, 2018 - 2030)

• Nerve Grafting

o Autograft

o Allograft

o Stem Cell Therapy

• Biomaterial

o Nerve Conduit

o Nerve Protector

o Nerve Connector

o Nerve Wraps


Surgery (Revenue, USD Million, 2018 - 2030)

• Direct nerve repair

• Nerve Grafting

• Stem Cell Therapy

• Carpal Tunnel Release

• Internal Neurolysis

• Neurorrhaphy

Application (Revenue, USD Million, 2018 - 2030)

• Upper Extremities

• Lower Extremities

End-use (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Clinics

• Ambulatory Surgical Centers

• Others

Key Companies profiled:

• Axogen Corporation

• Stryker/Collagen Matrix/Polyganics BV

• Integra Lifesciences Corporation

• Toyobo Co., Ltd.

• Alafair Bioscience

• Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.) 

Key U.S. peripheral nerve injuries Company Insights

Key players in the U.S. peripheral nerve injuries market are adopting strategies such as mergers & acquisitions and indication extension to enhance their market position. For instance, in October 2022, Collagen Matrix, Inc.acquired Polyganics, B.V., a medical technology company specializing in the manufacturing of bioresorbable medical devices. The acquisition was aimed at expanding Collagen matrix’s product portfolio and is expected to open new opportunities for market growth.Thus, these efforts being undertaken by players to increase their market share along with their sales and marketing strategies.

Order a free sample PDF of the U.S. Peripheral Nerve Injuries Market Intelligence Study, published by Grand View Research. 


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