The Market For Global Nerve Repair Biomaterials Market Is Expected To Grow At CAGR 11.3% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Nerve Repair Biomaterials Market is projected to reach USD 775.6 million by 2024 from USD 326.7 million in 2016, at a CAGR of 11.3% in the forecast period 2017 to 2024.
The market is segmented 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.
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Nerve Repair Biomaterials Market: Recent Developments
The global nerve repair biomaterials market is witnessing a rapid growth due to increasing geriatric population, increasing incidence of nerve injuries and neurological disorders, favorable reimbursement policies, and increased government funding. The demand for nerve repair biomaterials is increasing in the hospitals followed by ambulatory trauma centres due to increasing aging population and rising number of nerve injuries and nerve surgeries.
The global nerve repair biomaterials market is further segmented into nerve conduits and, nerve grafts. In 2015, the nerve conduits segment has accounted a share of 68.9% and is expected to reach 62.2% market share by 2022. Nerve Repair Graft is further segmented into allograft and acellularized allograft. In 2015, the allograft segment is expected to dominate the market and also it is projected to grow at the highest CAGR of 14.3% in the forecast period 2016-2022. Nerve protection market is segmented into nerve protector and nerve wrap. In 2015, nerve protector market is expected to dominate the market with the share of 76.3% and nerve wrap is expected to growth at the highest CAGR of 15.9% for the forecast period 2016-2022.
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Global Nerve Repair Biomaterials Market Categories: Segmentation
The Global Nerve Repair Biomaterials Market is segmented on the basis of product type, injury type end-user, and geography.
On the basis of product type the global nerve repair biomaterials market is segmented into nerve repair and nerve protection.
Based on the injury type, the market is segmented into epineural nerve repair, perineural nerve repair, and group fascicular repair.
On the basis of end user, the market is categorised into hospitals, clinics, and ambulatory surgical centres.
Global Nerve Repair Biomaterials Market: Geographic Segmentation
Based on geography, the global nerve repair biomaterials market report covers data points for 52 countries across multiple geographies namely North & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. North America is expected to dominate the market with 38.9% market share followed by Europe. The dominance of North America is owing to favorable reimbursements for biomaterials used in treatment of nerve injury. Asia-Pacific is expected to grow at the highest CAGR of 14.8% market share owing to large incidence of peripheral nerve injuries and high percentage of geriatric population in countries such as China, Japan, Thailand and South Korea.
Global Nerve Repair Biomaterials Market: Company Share Analysis
The global nerve repair biomaterials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: June 2016, Polyganics announced the CE approval for its nerve capping device NeuroCap, May 2015; AxoGen received approval from FDA to Proceed with new multicenter comparative study for Avance Nerve Graft among many others. The report includes market shares of nerve repair biomaterial market for global, Europe, North America, Asia Pacific and Rest of the World.
In 2015, Integra Life sciences dominate the market with 29.0% market share followed by Stryker Corporation and Collagen Matrix, Inc. Some of the other major players operating in the global nerve repair biomaterials market are Axogen, Inc., Polygenic, B.V., Checkpoint Surgical, Inc. and, Synovis Micro Companies Alliance, Inc. among others.
Other Market Insights:
North America Interventional Neurology Devices Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 7.3% in the forecast period 2017 to 2024, expected to reach USD 959 million by 2016.
Global Internal Neuromodulation devices market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 14.5% in the forecast period 2017 to 2024, expected to reach USD 4.12 billion by 2016.
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