Alachua,FL (PRWEB) September 20, 2013
AxoGen, Inc. (NASDAQ: AXGN), a leading regenerative medicine company focused on the commercialization of technologies for peripheral nerve reconstruction, protection and regeneration, today announced the publication of a new independent research report by Magellan Medical Technology Consultants, Inc. (“MMTC”) on the US peripheral nerve repair market.
The report, which involved primary research via an online survey of nerve repair surgeons plus analysis of publicly available emergency room data and reimbursement data, determined the current size of the peripheral nerve injury repair device market for transected nerves in the United States to be between $1.32 and $1.93 billion per year, with an average of about $1.68 billion per year.
The report provides insight into the importance of transected nerve gap length, noting that each millimeter of nerve gap separation represents greater repair challenges and more complicated treatment decisions. It also emphasizes that there are different approaches to treating transected nerves of varying gap lengths. Researchers examined the distribution of transected gap lengths defined by the surgeons in relation to the surgeons’ decision making process for repair approach to develop a three tiered gap-length treatment model: No/Short Gap (0 –9 mm), Small Gap (9 – 20 mm) and Long Gap (greater than 20 mm).
Jill Schiaparelli, Senior Vice President of Business Strategy & Marketing at AxoGen said, “AxoGen is delighted to see independent validation of the sizable nerve repair market in the United States. Based on the conclusions of this report for the transected nerve repair market, combined with our data on the wrapping and OMF markets, the total current peripheral nerve repair market would be approximately $2.4 billion in the US. We are excited that we are participating in a market with such large opportunity and able to provide new
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