Research Nester published a report titled “Perineural Therapy Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global perineural therapy marketin terms of market segmentation by internal neurostimulation devices, biomaterials, external neurostimulation devices, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
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The global perineural therapy market is projected to grow at a CAGR of ~6% by attaining significant revenue during the forecast period, i.e., 2022 – 2031. Factors such as, the rising prevalence of multiple types of neural disorders and skyrocketing cases of sports injuries are anticipated to propel the growth of the market during the forecast period. In 2020, about 1,260 deaths were caused on account of bicycle incidents. Moreover, higher prevalence of chronic pain in global population due to changing lifestyle and increment in global geriatric population are estimated to boost the market growth.
Additionally, by biomaterials, the global perineural therapy market is segmented into nerve conduits, and nerve wraps. Out of these sub-segments, the nerve conduits segment is estimated to obtain a noteworthy share in the market during the forecast period. The growth of the segment is accounted to increasing cases of nerve damage on account of various conditions. It is observed that there are more than 100 sorts of nerve damage have been identified. Moreover, it was observed that around 82% meaningful recovery (MR) were obtained from mixed, sensory, and motor nerve repair through perineural therapy.
Furthermore, the global perineural therapy market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a remarkable pace over the forecast period on the back of growing cases of sports injuries in the region. For instance, about 30 million children and teen takes part in organized sports and around 3.5 million of them get severe injuries every year. Furthermore, the presence of advanced healthcare sector is estimated to boost the market growth in the region.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, 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 the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Significant Prevalence of Chronic Pain Globally to Foster the Growth of the Market
It is estimated that 10% of people across the globe have chronic pain, summing up to about 60 million individuals worldwide.
Any type of pain is mainly triggered by a malfunctioning nervous system and nerve damage. Sometimes, the pain comes and goes while in some cases it lasts for weeks and months. In these circumstances, people require medical help, such as, perineural therapy. Therefore, growing incidences of chronic pain is anticipated to propel the growth of the market during the forecast period.
However, the presence of alternatives, possibilities of side effects such as, skin allergy and infection, and a lack of skilled medical professionals are expected to operate as a key restraint to the growth of the global perineural therapy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global perineural therapy market which includes company profiling of Boston Scientific Corporation, tVNS Technologies GmbH, Abbott Laboratories, NeuroSigma, Inc., Axogen Corporation., BioWave Limited, Baxter Healthcare Corporation, LivaNova, PLC, Integra LifeSciences Corporation, and Soterix Medical, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global perineural therapy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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