Global Economic Growth Outlook: Downgraded global growth forecasts due to the Middle East conflict and rising oil prices could impact healthcare spending and investment, potentially affecting Axogen's sales of peripheral nerve repair solutions if elective surgeries or hospital budgets are constrained.

Inflation and Supply Chain Costs: Rising oil prices, exacerbated by geopolitical tensions, can lead to increased transportation and manufacturing costs for medical devices and biologics. This could impact Axogen's gross margins and profitability, especially with anticipated product-cost pressure as Avance Biologic sales begin in Q2 2026.

Interest Rate Environment: While not directly mentioned in the provided context, the health technology sector is often sensitive to interest rates, which influence access to capital for growth and M&A activities. Sustained economic uncertainty could lead to tighter monetary policies or higher borrowing costs, affecting Axogen's strategic initiatives and investment appeal.