The demand for nerve repair biomaterials is increasing in hospitals followed by ambulatory trauma centres due to increasing aging population and rising number of nerve injuries and nerve surgeries.
Global Nerve Repair Biomaterials Market, By Product Type (Nerve Repair (Nerve Conduit, Nerve Graft (Allograft, Acellularized Allograft)), Nerve Protection (Nerve Protectors, Nerve Wrap), By Injury Type (Epineural Nerve Repair, Perineural Nerve Repair, Group Fascicular Repair), By End User (Hospital, Clinics, Ambulatory Trauma Centers), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa, Rest of the World) – Trends and Forecast to 2024
Global Nerve Repair Biomaterials Market is expected to reach USD 775.59 million by 2024 from USD 326.71 million in 2016, at a CAGR of 11.5% in the forecast period 2017 to 2024.
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Nerve Repair Biomaterials Market – Market Segmentation:
The global nerve repair biomaterials market is witnessing a rapid growth due to increasing geriatric population, high incidence of nerve injuries and neurological disorders, favorable reimbursement policies, and increased government funding.
Based on product type, the global nerve repair biomaterials market is segmented into nerve repair and nerve protection.In 2016, nerve repair dominated the market with a share of 74.5% and is expected to dominate the market in the future.
The global nerve repair biomaterials market is further segmented into nerve conduits and nerve grafts. In 2017, the nerve conduits segment is expected to account for the largest share.
Nerve repair graft is further segmented into allograft and acellularized allograft. Nerve protection market is segmented into nerve protector and nerve wrap.
In 2016, nerve protector market dominated the market with the largest share and is expected to dominate in the forecast period 2017-2024.
Based on the injury type, the nerve repair biomaterials market is segmented into epineural nerve repair, perineural nerve repair, and group fascicular repair.
On the basis of end user, the global nerve repair biomaterials market is categorized into hospitals, clinics, and ambulatory surgical centres. In 2017, hospitals segment is expected to dominate the market in the forecast period 2017-2024.
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Based on geography, the market is segmented into five geographical regions:
- North America
- South America
- Middle East and Africa
The geographical regions are further segmented into 29 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and others.
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Some of the major players operating in this market are
- Stryker Corporation
- Collagen Matrix, Inc.
- AxoGen, Inc.
- Checkpoint Surgical, Inc.
- Synovis Micro Companies
- Alliance, Inc.
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