You Can Thank Us Later- Nerve Conduit Market Latest Report by VMR
The global Nerve Conduit market was valued at USD 380 Million in 2020 and is projected to reach USD 450 million by 2028, growing at a CAGR of 3% from 2021 to 2028.
Definition and Overview
Nerve Conduit is a nerve guidance conduit (also referred to as an artificial nerve conduit or artificial nerve graft, as opposed to an autograft) is an artificial means of guiding axonal regrowth to facilitate nerve regeneration and is one of several clinical treatments for nerve injuries.
The global Nerve Conduit market is segmented based on Type, Application, regions, and countries. The regional segmentation provides current and forecasts demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Nerve Conduit in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market.
- 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 facilitates 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.
COVID-19 Impact Analysis
The COVID-19 pandemic is affecting industries worldwide and the global economy took a hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
Global Nerve Conduit Market: Regional Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Regional Analysis Preview
On the basis of region, the global Nerve Conduit market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region held the largest share of the global Nerve Conduit market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea U.S.
The market comprises various small, medium, and large-sized players spread across all the regions. Some of the key companies operating in the global Nerve Conduit market are Stryker, Synovis, Medovent GmbH, Collagen Matrix, Axogen, Polyganics, Integra LifeSciences.
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