Nerve Repair Market Projected to reach US$ 430 Mn during 2017-2027: FMI

Nerve Repair Market Projected to reach US$ 430 Mn during 2017-2027: FMI

The global nerve repair market is estimated to be valued in excess of US$ 145 Mn in the year 2017 and is projected to be valued at nearly US$ 430 Mn by 2027, registering a CAGR of 11.3% over the forecast period.

Increasing ageing population leading to neurological problems is fuelling the global nerve repair market

Due to the decreased activity of the motor reflexes of geriatric patients, they are prone to trauma and minor accidents owing to age. Increasing geriatric population is eventually increasing the number of patients with nerve injury. According to an article presented by Ademola Adewale, approximately 40% of people older than 65 years report at least one fall per year, which increases to 50% in those older than 80 years. In long-term care facilities, the risk of falls increases to more than 50%-60% per year. Ageing is one of the major factors leading to an increased incidence of nerve damage due to trauma, and this factor is fuelling revenue growth of the global nerve repair market during the assessment period.

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