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21 Jul, 2022, 15:15 BST
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SAN FRANCISCO, July 21, 2022 /PRNewswire/ — The global peripheral nerve injuries market size is anticipated to reach USD 2.58 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.65% over the forecast period due to the ongoing clinical trials focused on peripheral nerve repair, technological advancements, an increase in R&D activities, and a rise in awareness among people about different regenerative medicines.
Key Industry Insights & Findings from the report:
Read 110-page full market research report for more Insights "Peripheral Nerve Injuries Market Size, Share & Trends Analysis Report By Product (Nerve Conduit, Nerve Wraps), By Application (Upper Extremities, Lower Extremities), By Surgery, By Region, And Segment Forecasts, 2022 – 2030", published by Grand View Research.
Peripheral Nerve Injuries Market Growth & Trends
COVID-19 has had a negative impact on the market, affecting the demand and production directly, disrupting the supply chain, and increasing the financial burden on businesses. During the pandemic, a number of surgeries were regularly postponed and/or canceled to prevent the spread of COVID-19. Neurosurgical procedures decreased by 55% in the worst-hit countries, including the U.S., Russia, India, Brazil, France, the U.K., Italy, and Spain.
Furthermore, manufacturing activities, supply chain, delivery schedules, and sale of biomaterials were disrupted due to nationwide lockdowns. Moving forward, as industry players are introducing new and better technologies, the industry is expected to grow over the forecast period. For instance, in May 2022, the topline results of Clinical Study Axogen’s RECON comparing conduits to Avance Nerve Graft in digital nerve injuries were disclosed by Axogen, Inc., a global pioneer in marketing and developing revolutionary surgical solutions for PNIs. The primary target for the recovery of sensory function, as defined by static two-point discrimination, was fulfilled in Phase 3 pivotal research, and the safety profile was comparable with previously reported data. This information will help the company submit a Biologics License Application (BLA) in the second half of 2023.
Peripheral Nerve Injuries Market Segmentation
Grand View Research has segmented the global peripheral nerve injuries market based on product, surgery, application, and region:
Peripheral Nerve Injuries Market – Product Outlook (Revenue USD Million; 2017 – 2030)
Peripheral Nerve Injuries Market – Surgery Outlook (Revenue USD Million; 2017 – 2030)
Peripheral Nerve Injuries Market – Application Outlook (Revenue USD Million; 2017 – 2030)
Peripheral Nerve Injuries Market – Regional Outlook (Revenue, USD Million; 2017 – 2030)
List of Key Players of Peripheral Nerve Injuries Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research’s Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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