Nerve Repair Market Will be Worth US$ 430 Mn by 2027

The global nerve repair market is estimated to be valued in excess of US$ 145 Mn in the year 2017 and is projected to be valued at nearly US$ 430 Mn by 2027, registering a CAGR of 11.3% over the forecast period.

The global nerve repair market is segmented on the basis of nerve repair type, product type, end user and region.

Nerve graft is the most popular nerve repairing product type and is estimated to account for around 40.3% revenue share of the global market by 2017-end.

Repairing of epineural nerves is expected to remain the highest amongst all the types of nerve repair. Towards the end of the assessment period, revenue from epineural nerve repairing is estimated to reach US$ 290.3 Mn.

Hospitals will remain as the largest end user of nerve repair products and are projected to account for over 61% value share of the market by end of 2027.

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Nerve Repair Treatment: Market Opportunities

Currently, most of the leading medical companies that manufacture nerve repair products are mainly concentrated in developed regions such as Europe and North America. Many of the developing countries including Mexico, India, Indonesia and few other countries from the Middle East are yet to witness widespread penetration of the nerve repair biomaterial products. The scope of promoting the products in such emerging markets would definitely bring in lucrative business opportunities for medical companies. Therefore, tapping emerging markets is likely to create opportunities for growth in term of sales of nerve repair products. Some of the leading medical companies are focusing on aspects such as training of physicians and marketing of their products in these developing regions. Axogen, Inc., Baxter International Inc., Stryker Corporation, Integra Lifesciences, Holdings Corp, Neurotex, Ltd. and Polyganics B.V. are some leading medical companies partaking in the growth of global nerve repairing market.

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