(MENAFN- GlobeNewsWire - Nasdaq) 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

Report Attribute	Details
Market Size Value in 2022	US$ 6.10 Billion
Market Size Value in 2031	US$ 17.46 Billion
Growth Rate	CAGR of 12.4% from 2023 to 2031
Base Year for Estimation	2022
Forecast Period	2023 to 2031
Historical Year	2021
Segments Covered	Product, Application, End User, and Region
Regional Scope	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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

INTRODUCTION

Market Ecosystem

Timeline Under Consideration

Historical Years – 2021

Base Year – 2022

Forecast Years – 2023 to 2031

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach

Data Collection Methodology

Data Sources

Secondary Sources

Primary Sources

Market Estimation Approach

Bottom Up

Top Down

Market Forecasting Model

Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)

Key Players & Competitive Positioning (2022)

Regulatory Landscape

Reimbursement Scenario

MARKET DYNAMICS

Drivers

Restraints/Challenges

Opportunities

GLOBAL PERIPHERAL NERVE REPAIR MARKET - ANALYSIS & FORECAST, BY PRODUCT

Neurostimulation and Neuromodulation Devices

External Neurostimulation Device

Transcranial Magnetic Stimulation (TMS)

Transcutaneous Electrical Nerve Stimulation (TENS)

Internal Neurostimulation Device

Gastric Electrical Stimulation (GES)

Vagus Nerve Stimulation (VNS)

Sacral Nerve Stimulation (SNS)

Spinal Cord Stimulation (SCS)

Deep Brain Stimulation (DBS)

Biomaterials

Nerve Conduit

Nerve Protector

Nerve Connector

Nerve Wraps

GLOBAL PERIPHERAL NERVE REPAIR MARKET - ANALYSIS & FORECAST, BY APPLICATION

Direct Nerve Repair

Stem Cell Therapy

Nerve Grafting

Neurostimulation and Neuromodulation Surgeries

Others

GLOBAL PERIPHERAL NERVE REPAIR MARKET - ANALYSIS & FORECAST, BY END USER

Hospitals

Ambulatory Surgical Centers

Others

peripheral nerve repair market toc

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VALUE PROPOSITIONS RELATED TO THE REPORT :

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.

CUSTOMIZATION OPTIONS :

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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