report-bg

Perineural Therapy Market

Analysis by Internal Neurostimulation Devices (Spinal Cord, Vagus Nerve, Deep Brain, Gastric Electrical and Sacral Nerve), by Biomaterials (Nerve Conduits and Nerve Wraps), by External Neurostimulation Devices (RES, TMS, TENS) and by End User (Clinics, Hospitals, and Ambulatory Surgical Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023 – 2035

Buy Now
Report ID: 4161 | Published On: Mar 20, 2023
Request Free Sample Copy

Global Perineural Therapy Market Size, Forecast, and Trend Highlights Over 2023 – 2035

The global perineural therapy market is estimated to garner significant revenue of ~USD 1 billion by the end of 2035, by growing at a CAGR of ~15% over the forecast period, i.e., 2023 – 2035. Further, the market generated remarkable revenue of ~USD 300 million in the year 2022. The increasing prevalence of different neural disorders is anticipated to propel the growth of the market during the forecast period. As per the data provided by Pan American Health Organization (PAHO), in the U.S., 533,172 individuals lost their lives due to neurological conditions, out of which, 213,129 were men and 320,043 were women in 2019.

Perineural-Therapy-Market-scope

The global perineural therapy market is further estimated to witness growth on the back of the increment in approval and launch of more enhanced drugs and other products to repair and regenerate nerves. In a study conducted by the National Library of Medicine in 2020, it was observed that around 82% meaningful recovery (MR) was obtained from mixed, sensory, and motor nerve repair having almost 70 mm gaps. There were no significant differences in MR across the nerve type, age, time‐to‐repair, and smoking status, however, significant differences were noted by the injury type. complex injuries had 74% MR as compared to lacerations at 85%, and neuroma resections at 94% recovery.


Perineural-Therapy-Market-scope
Get more information on this report: Request Sample PDF

Global Perineural Therapy Market: Key Insights
cscs

Base Year

2022

Forecast Year

2023 - 2035

CAGR

~15%

Base Year Market Size (2022)

~USD 300 million

Forecast Year Market Size (2035)

~USD 1 billion

Regional Scope

  • North America (U.S. & Canada)
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) 
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)


Global Perineural Therapy Market: Growth Driver and Challenges

Growth Drivers

  • Higher Prevalence of Chronic Pain in Global Population Due to Changing Lifestyle- It was observed that around 10% of the global population is affected by chronic pain summing up to approximately 60 million people. Moreover, about one in every 10 people additionally develop chronic pain every year worldwide. Rising digitalization and technological advancement have brought a major change in the physical health of the modern population. People tend to spend more time sitting in either workplaces or educational institutions and do not indulge in physical activities. Such conditions become accountable to trigger chronic pain and other diseases, which require perineural therapy.

  • Spiking Cases of Sports Injuries Resulting in Nerve Damage - Sports injuries are a major cause of neural diseases, which require perineural therapy. Data provided by the National Safety Council stated that bicycling is one of the major causes of sports injuries. The prevalence has increased by 44% in the last decade and 1,260 deaths were noticed in 2020 due to bicycle incidents. 

  • Advancement in Modern Medical Technology - As of 2019, the total revenue of global medical technology was estimated to be around USD 450 billion, which is estimated to cross USD 590 billion by the year 2024. Moreover, the total R&D spending on global medical technology was projected to be about USD 30 billion in 2019.

  • Increment in Global Geriatric Population - According to the data from the World Bank 747.238 million individuals were aged 65 or above in 2021 across the globe. Older adults are more prone to neural disorders and would require immediate treatment.

  • Escalating Approval and Launches of Products to Regenerate and Repair Damaged Nerves - The growing development and launch of medical technologies and drugs, such as neurostimulator devices, are estimated to boost the market growth. The modern perineural injection has been launched in the market with 85% of effectiveness. 

Challenges

  • Lack of Skilled Medical Professionals – The first and foremost challenge that comes along the way has to be the lack of skilled medical professionals. There are not many medical professionals in the world who are associated with this type of treatment this comes as a problem in incorporating this therapy in the treatment of the patients. More knowledge and awareness about this treatment and this field must be circulated so that more medical professionals can come to take part in learning this treatment.
  • Possibilities of Side Effects such as Skin Allergy and Infection
  • Presence of Alternatives owing to the Lack of Awareness


Global Perineural Therapy Market Segmentation

The perineural therapy market is segmented and analyzed for demand and supply by biomaterials into nerve conduits and nerve wraps, out of which, the nerve conduits segment is set to witness noteworthy growth over the forecast period. The growth of the segment can be ascribed to rising cases of nerve damage on account of multiple causes, such as sports injuries and changing lifestyles. For instance, it has been estimated that over 100 types of nerve damage exist that require significant medical attention.

The perineural therapy market is segmented and analyzed for the demand & supply by end users to Hospitals and clinics, ambulatory surgical centers, and others. Among these, it is estimated that hospitals and clinics have the chance to have the largest market share in the forecast year. People suffering from more nerve disorders and geriatric populations having nerve issues are the actual growth drivers of this segment. The incorporation of new nerve regeneration and nerve repair technologies and investment by the government in the research and development of this technology is also expected to drive the growth of this segment.

Our in-depth analysis of the global perineural therapy market includes the following segments:

   By Internal Neurostimulation Devices

  •  Spinal Cord
  • Vagus Nerve
  • Deep Brain
  • Gastric Electrical
  • Sacral Nerve

     By End User

  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Others

    By Biomedicals

  • Nerve Conduits
  • Nerve Wraps

      By External Neurostimulation Devices

  • RES
  • TMS
  • TENS

 


Global Perineural Therapy Market Regional Synopsis

The market in the North American region is projected to hold the largest market share by the end of 2035. The market is projected to witness remarkable growth on the back of a higher prevalence of sports injuries. Approximately 30 million teens participate in organized sports, out of which, around 3.5 million get injured annually. Hence, the market is expected to grow exponentially in the region over the forecast period. Also, a lot of technological advancements have taken place in perineural therapy which is expected to drive the market in this region. Nerve grafting and neuropathy are becoming more prominent in this region, which raising the market share in North America.

Furthermore, the Asia Pacific region is estimated to be the second-largest shareholder in the global perineural therapy market. The growth of the market in the region can be attributed to the skyrocketing cases of Alzheimer’s disease, dementia, and other chronic disorders. For instance, the number of people with dementia is projected to reach around 70 million by the year 2050 in the Asia Pacific region. Additionally, the rising geriatric population with severed nerves is further estimated to drive the growth of the market over the forecast period. As per the data provided by the Asian Development Bank, the elderly population in Asia Pacific is slated to reach around 923 million by the year 2050. Thereby, all these factors are expected to hike the growth of the market during the forecast period.

Perineural-Therapy-Market-regional.

Perineural-Therapy-Market-regional.
Get more information on this report: Request Sample PDF

Top Featured Companies Dominating the Global Perineural Therapy Market

    • Boston Scientific Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • tVNS Technologies GmbH
    • Abbott Laboratories
    • NeuroSigma, Inc.
    • Axogen Corporation
    • BioWave Limited
    • Baxter Healthcare Corporation
    • LivaNova, PLC
    • Integra LifeSciences Corporation
    • Soterix Medical, Inc.

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the perineural therapy market?

Ans: The higher prevalence of different sorts of neural disorders and the increment in approval of more enhanced products to repair and regenerate nerves are the major factors driving the growth of the perineural therapy market.

2) What would be the CAGR of perineural therapy market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the perineural therapy market growth?

Ans: The lack of skilled medical professionals, the possibilities of side effects such as skin allergy and infection, and the presence of alternatives owing to the lack of awareness are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of perineural therapy market in future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the perineural therapy market?

Ans: The major players in the market are Boston Scientific Corporation, tVNS Technologies GmbH, Abbott Laboratories, NeuroSigma, Inc., Axogen Corporation., BioWave Limited, Baxter Healthcare Corporation, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the perineural therapy market?

Ans: The market is segmented by internal neurostimulation devices, biomaterials, external neurostimulation devices, end-user, and by regions.

8) Which segment captures the largest market size in the biomaterials segment in the perineural therapy market?

Ans: The nerve conduits sub-segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Request Research Report Sample