The Global Nerve Conduit Market was valued at USD 380 Million in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 3% between 2021 to 2028. Nerve conduit is an artificial nerve graft that facilitates nerve regeneration used for treating nerve injuries. The tubes are filled with scaffolds that are seeded with stem cells and Schwann cells and it is mostly used for repairing of peripheral nerve injuries. The nerve conduit market is driven by the factors such increasing neuro disorders like Parkinson’s blood clots, epilepsy, facial nerve disorders and Alzheimer’s strokes etc. are some drivers along with that the improvement in healthcare facilities and improvising technology is also some other factor driving the market.
Since the outbreak of the COVID-19, It is widely spread all over the world and has impacted many countries economy and caused huge loses in businesses. The nerve conduit market is experiencing a negative growth due to supply chain disruptions as China is one of the worldwide assembling center.
The nerve conduit market is segmented on the basis of type and application. The type of segment is further bifurcated into collagen nerve conduit, polymer nerve conduit and others. The sector is holding the largest share and shows potential growth in future forecast. The segment is divided as nerve grafting and neurorrhaphy. Based on these the nerve grafting is having the largest share and potential growth for further forecasted years.
The major players for the nerve conduit market are Collagen Matrix, Polyganics, Medovent GmbH, Stryker, Axogen, Integra lifesciences, Synovics, and Check point surgical.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East and Africa and Latin America. North America attained the highest share due to presence of key players and government initiatives also Asia-Pacific is also showing immense growth potential as improving healthcare infrastructure as, most economical emerging countries such as China, India and Japan are in this region.