U.S. Peripheral Nerve Injuries Market: Patient Demographics and Treatment Awareness

The U.S. peripheral nerve injuries market is experiencing significant growth, projected to reach a value of USD 406.23 million in 2022 and expand at a CAGR of 7.32% from 2023 to 2030. This growth is primarily driven by several factors:

• Aging Population: The increasing number of elderly individuals, who are more susceptible to peripheral nerve injuries, is a major contributor to market growth.

• Rising Demand for Minimally Invasive Procedures: The preference for less invasive treatments is driving the adoption of advanced surgical techniques and tools.

• Technological Advancements: Continuous innovation in surgical techniques and tools is enhancing the treatment of peripheral nerve injuries.

• Growing Awareness: Increased awareness among healthcare professionals and patients regarding peripheral nerve injuries and their treatment options is fueling market demand.

Furthermore, significant funding from both public and private organizations is accelerating market growth. For example, Renerva, LLC, received USD 500,000 from the NIH and NSF to develop innovative techniques for peripheral nerve injuries, while NervGen Pharma Corp. was awarded USD 1.5 million from the Department of Defense to evaluate NVR-291-R for enhanced nerve repair.

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

Surgery Segmentation 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 result in a loss of communication ability due to malfunctioning motor and sensory nerves between peripheral organs and the central nervous system (CNS), leading to impairment. Direct nerve repair and autologous nerve grafts remain the gold-standard treatment options. While nerve conduits successfully provide ideal peripheral support for neuronal recovery, they are still insufficient. Additionally, the increasing number of traumatic accidents leading to peripheral nerve injuries may necessitate surgical intervention, further propelling segment growth.

However, the stem cell therapy segment is projected to expand at the fastest CAGR during the forecast period. Increased government initiatives and approvals for clinical trials are anticipated to fuel market growth. Approximately 2,754 clinics in the U.S. (as of 2021) offer stem cell therapy, and this number is likely to increase. A single stem cell injection can cost between USD 8,000 and 30,000. Although many of these clinics do not adhere to FDA regulations, stem cell therapy has demonstrated effectiveness in treating various conditions. The FDA has recommended stricter regulations for these cells due to safety concerns, which may lead to more stringent approval procedures for clinics in the future. These factors are expected to drive significant growth in the stem cell therapy segment.  

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