According to analysts at Vantage Market Research, the Nerve Conduit Market is expected to reach USD 0.45 Billion by 2028, growing at a CAGR of 3% from 2021 to 2028. The increasing availability of medical reimbursement facilities, increase in target patient population, and rising demand for surgical activities across the globe and use of end-to-end neurography are some of the key factors to fuel the growth of the nerve conduit market in the years to come.
- The Collagen nerve conduit segment is estimated to grow at a CAGR of 2.44% during upcoming years. It is a type of conduit which provides a protective layer around injured peripheral nerves and facilitate nerve repair facilities.
- The neurography segment is projected to grow at a CAGR of 4.12% during the forecast period. The demand for this segment is higher due to the high growth of medical facilities, and the provision of surgical centers. In addition, the availability of reimbursement facilities, monitoring procedures, and some other technological advancement are expected to drive the growth of the Neurography segment during the forecast period.
- North America dominated the nerve conduit market and is expected to grow at a CAGR of 2.34% in the projected period followed by Europe and APAC. The rising geriatric population, increasing use of invasive surgeries and increased neurological disorders are the major factor fueling the nerve conduit market growth in this region.
Some of the main players of the nerve conduit market are Stryker, Axogen, Medovent GmbH, Integra LifeSciences, Synovis, Polyganics, and Collagen Matrix, among others.
The end-to-end neurography is used to treat peripheral nerve injury which is the key factor to drive the market growth. It is also used to solve the problems directly connected to nerve suturing and nerve grafting. These factors propel the demand of the nerve conduit market. Nerve conduit devices are used to provide an electrical impulse to identify muscles or nerves for nerve integrity. In addition, various strategies are used by nerve stimulation which includes orthopaedic trauma surgeries, neurosurgery, parotid surgeries, and head & neck surgeries, among others. This in turn boosts the growth of the nerve conduit market. Furthermore, factors such as the increasing number of complex & critical surgeries, increasing awareness about the clinical benefits of parotid surgeries, orthopedic trauma surgeries, head & neck surgeries, and neurosurgery are also likely to support the growth of the nerve conduit market over the forecast period.
Asia-Pacific is expected to expand at a moderate growth over the forecast period. This is due to the good establishment of nursing centers in various countries. The availability of advanced technology instruments and the availability of a large number of medical companies are predicted the growth of the nerve conduit market. In addition, the increasing population, availability of various options about the treatment, increasing demand for a better healthcare structure, increased awareness about brain tumors and high funding and investments by the government in this region witnessed the high demand of the nerve conduit market.