Global Nerve Repair Market Revenue Expected to Increase at a CAGR of 11.3% Over the Forecast Period

Future Market Insights

VALLEY COTTAGE, New York, May 22, 2017 /PRNewswire/ --

A damaged nerve can result in severe sensory and motor complications, which may cause severe pain as well as malfunctioning of the appendages. In these conditions, repairing of damaged nerves becomes quite imperative. Fortunately, a range of medical products is available in the market for treating damaged nerves. Nerve protectors, nerve connectors, nerve wraps and nerve grafts are amongst some of the popular products used for nerve repairing. As these products become medically more effective, their demand continues to grow.

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Future Market Insights (FMI) in its latest report titled "Nerve Repair Market: Global Industry Analysis and Opportunity Assessment 2017-2027" identifies that ageing is one of the major factors that increases possibilities of nerve damage. Occurrence of nerve damage is medically-proven to be higher amongst aged people, hence, the rising geriatric population across the globe is fueling the demand for nerve repair products. As per the FMI report, global nerve repair market will ride at an impressive CAGR of 11.3% in terms of revenue during the forecast period (2016-2027). Moreover, increasing government initiatives to spread awareness about new nerve repair treatments and availability of advanced treatment therapies is expected to boost the growth of global nerve repair market over the next couple of years.

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Nerve Repair Treatment: Market Opportunities 

Currently, most of the leading medical companies that manufacture nerve repair products are mainly concentrated in developed regions such as Europe and North America. Many of the developing countries including Mexico, India, Indonesia and few other countries from the Middle East are yet to witness widespread penetration of the nerve repair biomaterial products. The scope of promoting the products in such emerging markets would definitely bring in lucrative business opportunities for medical companies. Therefore, tapping emerging markets is likely to create opportunities for growth in term of sales of nerve repair products. Some of the leading medical companies are focusing on aspects such as training of physicians and marketing of their products in these developing regions. Axogen, Inc., Baxter International Inc., Stryker Corporation, Integra Lifesciences, Holdings Corp, Neurotex, Ltd. and Polyganics B.V. are some leading medical companies partaking in the growth of global nerve repairing market.