U.S. Peripheral Nerve Injuries Market 2030: Economic Impacts and Healthcare Costs

Market Size & Trends

The U.S. peripheral nerve injuries market size was valued at USD 406.23 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.32% from 2023 to 2030. The growth of the market is attributed to factors such as a rising geriatric population coupled with increasing demand for minimally invasive procedures, technological advancements in surgical techniques and tools, and growing awareness among healthcare professionals and patients about peripheral nerve injuries.

Increasing funding by both private and public organizations is expected to play an important role in market growth. For instance, in September 2019, Renerva, LLC, a medical device company focused on innovating various techniques and technologies for Peripheral Nerve Injuries, received funding of USD 500,000 from the National Institute of Health (NIH), and the National Science Foundation (NSF). Similarly, in October 2022, NervGen Pharma Corp. was awarded up to USD 1.5 million in Department of Defense funding from MOMRP/JPC-5 to evaluate NervGen’s NVR-291-R for enhanced restoration and enable the accelerated function for peripheral nerve injuries.

Gather more insights about the market drivers, restrains and growth of the U.S. Peripheral Nerve Injuries Market

Products/Therapies Insights

Based on products/therapies, nerve grafting captured the largest market share of 65.94% in 2022. Nerve grafting is required or performed when a patient experiences a complete loss of sensation or muscle function resulting in nerve injury. It is a surgical technique that involves the replacement or bridging of an injured nerve portion with another unrelated nerve. The segment is anticipated to grow as a result of numerous strategic activities, including product launches, partnerships, and collaborations.

Surgery Insights

Based on surgery, direct nerve repair captured the largest market share of 42.67% in 2022. Direct nerve repair (also known as end-to-end neurorrhaphy) is considered the gold standard of surgical treatment for severe cases. These injuries lead to a loss of ability to communicate due to malfunction of motor & sensory nerves between the peripheral organs and the central nervous system (CNS), resulting in impairment. Direct nerve repair and autologous nerve grafts are still the gold-standard treatment options.

Application Insights

Based on the application, the upper extremities segment captured the largest market share of 81.22% in 2022. Treatment of peripheral nerve injuries in the upper extremity involves nerve grafting, nerve transfer, or surgical repair. Increasing number of upper extremities is expected to impel the segment growth over the forecast period. Furthermore, the increasing incidence of accidental falls and medical conditions, such as Guillain-Barre syndrome, diabetes, and carpal tunnel syndrome, is expected to drive the segment. For instance, as per the CDC, every year, 3 million elderly people are treated in fall injury departments.

End-use Insights

Based on end use, the hospitals segment captured the largest market share of 60.04% in 2022. Hospitals have trained medical staff who can assess each patient. Increasing number of hospitals and surgical cases in hospitals are expected to boost the segment. In addition, hospitals may provide patients with education and advice on surgical care which may help promote healing. Thus, with the increasing number of hospitals, and hospitalization cases, the segment is expected to have significant growth over the forecast period.

Key Companies & Market Share Insights

Key players in the U.S. peripheral nerve injuries market are adopting strategies such as mergers & acquisitions and indication extension to enhance their market position. For instance, in October 2022, Collagen Matrix, Inc. acquired Polyganics, B.V., a medical technology company specializing in the manufacturing of bioresorbable medical devices. The acquisition was aimed at expanding Collagen matrix’s product portfolio and is expected to open new opportunities for market growth.Thus, these efforts being undertaken by players to increase their market share along with their sales and marketing strategies.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

• Healthcare Contract Research Organization Market Size, Share & Trends Analysis Report By Type (Drug Discovery, Pre-clinical, Clinical), By Services, By Region, And Segment Forecasts, 2024 – 2030
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Some prominent players in the U.S. peripheral nerve injuries market include:

• Axogen Corporation
• Stryker/Collagen Matrix/Polyganics BV
• Integra Lifesciences Corporation
• Toyobo Co., Ltd.
• Alafair Bioscience
• Synovis Micro Companies Alliance, Inc. (Baxter International, Inc.)

U.S. Peripheral Nerve Injuries Market Segmentation

Grand View Research has segmented the U.S. peripheral nerve injuries market based on product/therapies, surgery, application, and end use:

U.S. Peripheral Nerve Injury Products/Therapies Outlook (Revenue, USD Million, 2018 – 2030)

• Nerve Grafting
• Biomaterial

U.S. Peripheral Nerve Injury Surgery (Revenue, USD Million, 2018 – 2030)

• Direct nerve repair
• Nerve Grafting
• Stem Cell Therapy
• Carpal Tunnel Release
• Internal Neurolysis
• Neurorrhaphy

U.S. Peripheral Nerve Injury Application (Revenue, USD Million, 2018 – 2030)

• Upper Extremities
• Lower Extremities

U.S. Peripheral Nerve Injury End-use (Revenue, USD Million, 2018 – 2030)

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Others

Order a free sample PDF of the U.S. Peripheral Nerve Injuries Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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