Peripheral Nerve Injuries Market Size, Share & Trends Analysis Report By Product (Nerve Conduit, Nerve Wraps), By Application (Upper Extremities, Lower Extremities), By Surgery, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global peripheral nerve injuries market size was valued at USD 1.33 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.65% from 2022 to 2030. The industry growth can be attributed to the increasing aging population and rising incidence rate of PNIs. Increasing government initiatives and reimbursement policies are expected to further boost the industry growth over the forecast period. The COVID-19 pandemic had a negative impact on the industry due to the sales of medical equipment, such as nerve regeneration conduit decreased from the previous year due to postponements of nonessential surgeries caused by the spread of the COVID-19. Beginning in 2020, and in part a response to the COVID-19 pandemic, manufacturers adjusted their commercial strategy to focus on deeper penetration of their existing surgeon customers through the development of long-term users in their largest market opportunity of extremity trauma.

Numerous public health organizations have suggested and some local governments have enacted COVID-19-related measures to slow down and control the spread of the virus, including quarantines, travel bans, and business closures, among other actions. Manufacturers contend that since Americans are less active as a result of the pandemic, there may be a decrease in the frequency of traumatic nerve injuries, which is anticipated to hinder industry growth.

Moreover, with respect to the medical industry, in particular, COVID-19 has caused some hospitals and clinics to reallocate their teams and resources to prepare for an increased number of COVID-19 patients; defer or limit elective and non-emergency procedures; restrict hospital access to non-essential personnel, including sales & clinical representatives not directly required for a specific procedure; and limit or pause clinical research activities. Going forward, the industry is expected to grow due to the rising number of orthognathic surgeries, third molar surgeries, dental implants, anesthetic injections, and mandibular resection procedures.

For instance, based on Axogen, Inc. research, approximately, 50,000 PNIs occur in the U.S. each year. Furthermore, they estimate that there are approximately 95,000 primary cubital tunnel relief surgeries and 488,000 primary carpal tunnel performed annually in the U.S. Thus, due to such factors, the industry is expected to grow in near future. In addition, wide applications of biomaterials are one of the key growth drivers. It has applications across orthopedics, aesthetics, cardiology, trauma, and geriatric care. Improved life expectancy has created a necessity for the treatment of age-related diseases, such as arthritis and osteoporosis. These diseases can be treated using biomaterials, thus leading to high demand for biomaterials.

The evolution of the 3D tissue engineering and utilization of the embryo cells along with stem cells indicates the opportunities for industry growth. With the extensive results of the therapies and increasing patient compliance and improving quality of life, several private and government organizations are providing funds to conduction of research to develop enhanced therapies. NIH provided financial aid of USD 445 million and USD 180 million to human non-embryonic stem cell research and human embryonic stem cell research, respectively. In addition, a high incidence of PNIs globally is expected to boost growth. More than 20 million Americans are thought to be affected by PNI, which can result in symptoms ranging from minor discomforts to profound paralysis.

Furthermore, traumatic injury from events like workplace accidents, sports injuries, culinary accidents, and other mishaps like falls or cuts that frequently happen during daily activities is one of the main causes of peripheral nerve damage. Every year, over 700,000 Americans get surgery to potentially treat catastrophic peripheral nerve injuries. In addition, the tremendous burden of PNIs has increased the demand for biomaterials as an alternative therapy. Industry growth is being aided by the increased research into nerve regeneration and repair. For instance, scientists from the Science Foundation Ireland Research Centre for Advanced Materials and Bioengineering Research (AMBER), Integra LifeSciences, and the RCSI University of Medicine and Health Sciences worked together on a project in January 2022.

Extracellular matrix proteins, which are essential for tissue formation, may be used in a novel method to treat PNIs, according to research published in the Matrix Biology journal. Moreover, the development of an artificial nerve implant is in progress, which is expected to support the repair of damaged, long-distance peripheral nerve injuries. This project was EU-funded and was known as biohybrid templates for peripheral nerve regeneration or BIOHYBRID. This device graft is made of Chitosan and is designed specifically to bridge the gap resulting from nerve tissue damage & activate the nerve impulses between the distal and proximal nerve stumps by inducing regeneration.

Product Insights

The nerve conduit segment led the industry and accounted for more than 41.5% share of the global revenue in 2021. This can be attributed to technological advancements, a wide range of applications, and government funding for innovations. Depending on the conduit material and manufacturing process, nerve conduits are two types biological and synthetic nerve conduits. Advanced products, such as biodegradable polymers, are expected to enhance spinal stabilization, healing of fractures, and reduce hospitalization. Another instance of advancement is the development of stimuli-responsive biomaterials to achieve a feedback system for better integration and regeneration of the tissue. Therefore, due to such key factors, the segment is expected to grow.

Moreover, the use of nerve conduits, a viable replacement for nerve autografts, is now restricted to peripheral nerves with subtle abnormalities and small diameters. Investments by key companies to develop more effective products are likely to propel industry growth in the coming years. For instance, in April 2022, a significant U.S. marketing campaign for Toyobo Co., Ltd.’s Nerbridge TM nerve conduit for peripheral nerve regeneration has begun. By the end of 2025, Toyobo intends to increase its production capacity and broaden the range of its therapeutic applications. Toyobo will expand its production and sales capabilities to meet the anticipated rise in demand for nerve conduits in the U.S and elsewhere in the world.

As a result, this segment is anticipated to expand soon. The nerve wraps segment is anticipated to witness the fastest CAGR over the forecast period. This is due to nerve wraps preventing scar ingrowth, minimizing the potential for nerve entrapment, and providing guidance for regenerating nerve fibers as compared to other products. Furthermore, industry participants are currently offering cutting-edge products that enhance treatment effectiveness. For instance, in August 2021, Checkpoint Surgical, Inc. announced the introduction of the Chitosan NeuroShield Nerve Wrap as part of the extension of its line of intraoperative nerve care products. Checkpoint’s contribution to a proposed line of chitosan-based biological implants that facilitate neuron healing is the NeuroShield Wrap.

The expected commercialization of products in the coming years due to investments by companies and research institutes is also anticipated to boost the segment growth. For instance, in June 2022, a grant from Regenerative Medicine Minnesota was given to Vascudyne, Inc., a biotechnology pioneer in regenerative medicine, for a study titled “Production of a Peripheral Nerve Wrap Using Tissue Tubes from Regenerative Engineering.” The one-year, USD 100,000 funding from Vascudyne will start in June 2022 and make use of TRUE Tissue technology. Such strategic initiatives undertaken by key manufacturers targeting niche patient subsets in this space are projected to accelerate the segment growth.

Surgery Insights

Direct nerve repair led the global space and accounted for more than 52.80% share of the global revenue in 2021. Around 20 million people in the U.S. suffer from PNIs, usually caused by trauma or medical disorders. Direct nerve repair is used for the treatment of peripheral nerve injuries. It is considered a gold standard surgical treatment for severe injuries. 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. Furthermore, organizations promote funding to support R&D and product development, which is expected to spur industry growth.

For instance, in September 2019, the National Science Foundation (NSF) and the National Institutes of Health (NIH) awarded Renerva, LLC, a medical device business researching novel technologies for peripheral nerve healing, two additional grants totaling USD 500,000 to hasten the development of their medical device solutions. The NSF grant will assist Renerva in developing its second product, a cutting-edge graft for peripheral nerve gap applications, which is anticipated to boost the segment growth. The stem cell therapy segment is anticipated to witness the fastest CAGR over the forecast period.

Stem cells are perceived as the backbone of regenerative medicine wherein dynamic research activities are carried out. There are approximately 2,754 (2021) and 570 (2016) clinics in the U.S. that provide stem cell therapy, with the number likely to expand. A stem cell injection can cost anything from USD 8,000 to 30,000. Despite the fact that many of these do not follow FDA regulations, they have been proved to be effective in the treatment of a number of conditions. The FDA has recommended that these cells be controlled like drugs because of the safety concerns raised by this situation. As a result, clinics may expect more stringent approval procedures in the future.

An increase in government initiatives and approvals to conduct clinical trials is also anticipated to fuel the market growth. For instance, in October 2021, using Gingiva-derived Mesenchymal Stem Cells (GMSCs), and a 3D collagen hydrogel scaffold, a multidisciplinary team from the University of Pennsylvania School of Dental Medicine and Perelman School of Medicine (PA, USA) was able to restore the function of PNIs. Human GMSCs were infused into a collagen hydrogel in this novel method for guided nerve repair, allowing them to differentiate into Schwann precursor-like cells (SCPs) and neural crest stem-like cells (NCSCs). With the same efficiency as the “gold standard autograft method”, these cells can migrate into natural nerve conduits and produce functionalized neurons.

Application Insights

The upper extremities segment led the industry and accounted for more than 77.80% share of the global revenue in 2021 and is anticipated to witness the fastest growth rate as well over the forecast period. Peripheral nerve injuries in the upper extremity are very common. Peripheral nerves are also damaged due to compression injuries. For instance, recurrent and severe carpal and cubital tunnel syndrome instances can lead to problems and PNI, necessitating surgical intervention and peripheral nerve protection. Manufacturers are developing new devices to help surgeons with their needs for healing damaged or transected peripheral nerves.

For instance, Axogen, Inc., which creates and markets cutting-edge surgical treatments for peripheral nerve damage or discontinuity, has developed and is still developing new and next-generation devices. According to the company, there are still opportunities to create or buy complementing products for peripheral nerve healing. In addition, there are prospects to broaden the current product portfolio through additional peripheral nerve repair procedures in urology, head & neck surgery, lower extremity surgery, and the surgical management of pain.

Regional Insights

North America accounted for the largest share of 30.99% in 2021. This is due to the high prevalence of peripheral nerve injuries coupled with the growing geriatric population in the region. The geriatric population is highly susceptible to these disorders. In addition, an increase in government funding and initiatives for raising awareness about PNIs is expected to drive the regional market. Moreover, one of the main variables influencing the region is technological progress as industry leaders are actively involved in the launch of new products that function effectively. Axogen, Inc., declared in September 2021 that the RECON Clinical Study backing its Biologics Licence Application (BLA) for Avance Nerve Graft had finished patient follow-up.

Asia Pacific is expected to emerge as the fastest-growing region over the forecast period. Rising cases of PNIs coupled with an unmet need for effective & long-term treatment solutions are expected to present significant growth opportunities for the region. Moreover, supportive government initiatives and technological advancements will drive the regional space. It is projected that increased investments and pharmaceutical company expansions will also accelerate the growth. For instance, in June 2019, Mesoblast Ltd. announced that it has expanded its collaboration with JCR Pharmaceuticals Co. Ltd. in Japan

This was aimed at including the use of Mesenchymal Stem Cells (MSCs) in the treatment of newborns with neonatal hypoxic-ischemic encephalopathy, a condition in which the brain lacks sufficient blood supply and oxygen (HIE). In Japan, JCR is launching TEMCELL4 HS Inj., an allogeneic MSC product, for the treatment of steroid-refractory acute graft versus host disease (aGVHD) in children and adults. Mesoblast will receive royalties on all STEMCELL product sales for all licensed indications under the terms of the agreement.

Key Companies & Market Share Insights

Companies are focused on adopting extensive growth strategies, such as increasing product differentiation & diversification of product portfolio, entering into strategic alliances, and broadening marketing & distribution channels in an attempt to increase the outreach of their products and gain a competitive edge. For instance, in March 2022, the launch of the 3D Nerve Guide Matrix named as NeuraGen, a resorbable implant for the healing of peripheral nerve discontinuities, was announced by Integra LifeSciences Holding Corp.

When compared to hollow nerve conduits alone, NeuraGen 3D is a nerve repair product that is specifically designed to create an optimal environment that may allow for a more thorough functional recovery following mid-gap nerve repair. Furthermore, in April 2021, Polyganics, a medical technology firm that creates, produces, and sells bioresorbable medical devices, built a new facility on the Zernike Campus in Groningen. The new facility includes Polyganics’ corporate offices, cutting-edge research labs, and enhanced manufacturing & packaging capabilities. Some prominent players in the global peripheral nerve injuries market include:

• AxoGen, Inc.

• Stryker

• Baxter International, Inc.

• Polyganics BV

• Integra Lifesciences Corp.

• Renerva, LLC.

• Medovent GmbH

• Toyobo Co., Ltd.

Peripheral Nerve Injuries Market Report Scope

Global Peripheral Nerve Injuries Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global peripheral nerve injuries market report based on product, surgery, application, and region:

• Product Outlook (Revenue, USD Million; 2017 - 2030)

  • Nerve Conduit

  • Nerve Protector

  • Nerve Connector

  • Nerve Wraps

• Surgery Outlook (Revenue, USD Million; 2017 - 2030)

  • Direct Nerve Repair

  • Nerve Grafting

  • Stem Cell Therapy

• Application Outlook (Revenue, USD Million; 2017 - 2030)

  • Upper Extremities

  • Lower Extremities

• Regional Outlook (Revenue, USD Million; 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE