During its Analyst & Investor Day, Axogen, Inc. announced a significant update to its estimated Total Addressable Market (TAM), increasing it from $2.7 billion to $5.6 billion. This substantial expansion reflects a broader opportunity for the company's nerve repair solutions.
The revised TAM incorporates updated mix, volume, and average selling price (ASP) assumptions across existing markets. It also includes the addition of new procedures such as neuroma management, lower extremity applications, and expanded oral and maxillofacial (OMF) and head & neck (H&N) procedures, including corneal neurotization.
A key driver of the increased TAM is the inclusion of new market opportunities, notably prostatectomy, which targets cavernous nerve protection and reconstruction during radical robotic prostatectomies. This new market alone is estimated at $754 million, highlighting a significant area for future growth.
Axogen's strategic plan for 2025-2028 targets a compound annual growth rate (CAGR) of 15% to 20%, underpinned by this expanded market opportunity. The company aims to achieve standard of care status for its nerve repair algorithm across diverse applications, leveraging clinical evidence and payer engagement.
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