The global peripheral nerve injury market size was estimated to be USD 1.57 billion in 2023 and is predicted to reach USD 3.57 billion by 2034 with a CAGR of 7.76% during the forecast period 2024-2034. The increasing prevalence of peripheral nerve injuries, growing geriatric population, advancements in nerve repair and regeneration technologies, growing awareness and early intervention, and focus on personalized medicine will drive the market growth.
Peripheral nerve regeneration and repair is changing due to ongoing advancements in biomaterials, nerve stimulation technologies, and innovative surgical methods. Patients can now recover from treatments more quickly and with better results, which is driving up demand in the industry. For instance, Abbott Laboratories received FDA approval in February 2023 for the DRG stimulator, a neuromodulation device, to treat chronic pain in the lower extremities associated with complex regional pain syndrome (CRPS).
By product, the nerve conduits segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increased adoption of innovative biomaterials and advancements in nerve conduit technologies. For instance, Polyganics and AxoGen, Inc. announced a strategic collaboration in April 2023 to jointly develop and market cutting-edge nerve healing technology. Additionally, the nerve wraps segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on precision in nerve repair procedures, advancements in tissue engineering, and the rising adoption of nerve wraps for targeted and controlled delivery of therapeutic agents.
By surgery, the direct nerve repair segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increasing prevalence of traumatic nerve injuries and the growing adoption of surgical interventions for precise and direct repair of damaged nerves. For instance, Stryker Corporation completed the acquisition of Inomed in May 2023. Inomed is a firm that specializes in neurologic surgical solutions, such as products for peripheral nerve repair. Additionally, the stem cell therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding understanding of the regenerative potential of stem cells and their ability to promote nerve tissue repair and functional recovery.
By application, the lower extremities segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the rising incidence of peripheral nerve injuries associated with lower extremity trauma, such as fractures, crush injuries, and lacerations, coupled with a growing emphasis on restoring mobility and functionality in patients. For instance, Medtronic plc received CE Mark clearance in July 2023 for their Infera SonoVue Intraoperative Nerve Monitoring System in Europe. Additionally, the upper extremities segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing incidence of peripheral nerve injuries related to upper extremity trauma, including sports injuries, occupational accidents, and traumatic events.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increased prevalence of peripheral nerve injuries and the consequential demand for comprehensive diagnostic services, surgical interventions, and post-operative care provided by hospitals and clinics. For instance, Baxter International Inc. and AxoGen, Inc. announced a partnership in October 2023 to investigate the possibility of employing cell therapy for peripheral nerve damage. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing emphasis on patient-centric care, advancements in telehealth technologies, and the increasing preference for home-based rehabilitation and monitoring.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, increasing prevalence of peripheral nerve injuries, and the presence of key market players and research institutions driving advancements in diagnosis and treatment. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to increasing healthcare investments, a rising awareness of peripheral nerve injuries, and a growing patient population with diverse healthcare needs. For instance, Nuvectra Corporation announced in June 2023 the start of a clinical trial to assess the efficacy and safety of NU-002, their investigational nerve regeneration medication, in treating diabetic peripheral neuropathy.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Peripheral nerve regeneration and repair is changing due to ongoing advancements in biomaterials, nerve stimulation technologies, and innovative surgical methods. Patients can now recover from treatments more quickly and with better results, which is driving up demand in the industry. For instance, Abbott Laboratories received FDA approval in February 2023 for the DRG stimulator, a neuromodulation device, to treat chronic pain in the lower extremities associated with complex regional pain syndrome (CRPS).
By product, the nerve conduits segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increased adoption of innovative biomaterials and advancements in nerve conduit technologies. For instance, Polyganics and AxoGen, Inc. announced a strategic collaboration in April 2023 to jointly develop and market cutting-edge nerve healing technology. Additionally, the nerve wraps segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on precision in nerve repair procedures, advancements in tissue engineering, and the rising adoption of nerve wraps for targeted and controlled delivery of therapeutic agents.
By surgery, the direct nerve repair segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increasing prevalence of traumatic nerve injuries and the growing adoption of surgical interventions for precise and direct repair of damaged nerves. For instance, Stryker Corporation completed the acquisition of Inomed in May 2023. Inomed is a firm that specializes in neurologic surgical solutions, such as products for peripheral nerve repair. Additionally, the stem cell therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding understanding of the regenerative potential of stem cells and their ability to promote nerve tissue repair and functional recovery.
By application, the lower extremities segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the rising incidence of peripheral nerve injuries associated with lower extremity trauma, such as fractures, crush injuries, and lacerations, coupled with a growing emphasis on restoring mobility and functionality in patients. For instance, Medtronic plc received CE Mark clearance in July 2023 for their Infera SonoVue Intraoperative Nerve Monitoring System in Europe. Additionally, the upper extremities segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing incidence of peripheral nerve injuries related to upper extremity trauma, including sports injuries, occupational accidents, and traumatic events.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global peripheral nerve injury market in 2023 owing to the increased prevalence of peripheral nerve injuries and the consequential demand for comprehensive diagnostic services, surgical interventions, and post-operative care provided by hospitals and clinics. For instance, Baxter International Inc. and AxoGen, Inc. announced a partnership in October 2023 to investigate the possibility of employing cell therapy for peripheral nerve damage. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing emphasis on patient-centric care, advancements in telehealth technologies, and the increasing preference for home-based rehabilitation and monitoring.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, increasing prevalence of peripheral nerve injuries, and the presence of key market players and research institutions driving advancements in diagnosis and treatment. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to increasing healthcare investments, a rising awareness of peripheral nerve injuries, and a growing patient population with diverse healthcare needs. For instance, Nuvectra Corporation announced in June 2023 the start of a clinical trial to assess the efficacy and safety of NU-002, their investigational nerve regeneration medication, in treating diabetic peripheral neuropathy.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Product, Surgery, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Peripheral Nerve Injury Market Report 2023 - 2034
Peripheral Nerve Injury Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Nerve Conduit
- Nerve Protector
- Nerve Connector
- Nerve Wraps
Peripheral Nerve Injury Market Analysis & Forecast by Surgery 2023 - 2034 (Revenue USD Bn)
- Direct Nerve Repair
- Nerve Grafting
- Stem Cell Therapy
Peripheral Nerve Injury Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Upper Extremities
- Lower Extremities
Peripheral Nerve Injury Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals and Clinics
- Rehabilitation Centers
- Home Care Settings
Peripheral Nerve Injury Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Peripheral Nerve Injury Market: Product Estimates & Trend Analysis
8. Peripheral Nerve Injury Market: Surgery Estimates & Trend Analysis
9. Peripheral Nerve Injury Market: Application Estimates & Trend Analysis
10. Peripheral Nerve Injury Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Peripheral Nerve Injury Market
13. Europe Peripheral Nerve Injury Market
14. Asia Pacific Peripheral Nerve Injury Market
15. Latin America Peripheral Nerve Injury Market
16. MEA Peripheral Nerve Injury Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Axogen Inc.
- Integra LifeSciences Corporation
- Medtronic plc
- Stryker Corporation
- Polyganics
- Baxter International Inc.
- Abbott Laboratories
- Neurotex Limited
- Boston Scientific Corporation
- Orthomed S.A.S.
- AxoGen Inc.
- Polyganics B.V.
- Collagen Matrix Inc.
- NeuroMetrix Inc.
- Nuvectra Corporation.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.57 Billion |
| Forecasted Market Value ( USD | $ 3.57 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
