Knotless Suture Anchors Market Growth Reliant Upon Burgeoning Arthroscopic Procedures
Manufacturers are actively conducting research & development activities to facilitate the growing need for minimally invasive procedure and to develop highly advanced medical devices.
Award winning market research company Fact.MR’s ongoing study forecasts an optimistic outlook for knotless suture anchors market through 2021 and beyond. Increasing demand for minimally invasive surgeries and increased arthroscopic procedures among geriatric population is expected to improve the demand of knotless suture anchors market. As joint and shoulder deformities continue to increase in ageing population, healthcare providers are likely to augment spending on providing highly advanced medical devices such as suture anchors, widening growth prospects.
Manufacturers of knotless suture anchors are most likely to discover potential revenue pools across developed nations. A 2020 study estimates that geriatric population is anticipated to contribute around 16% of the world’s population in the upcoming decade, which is especially high in countries such as United States, UK and Germany. Also, advanced healthcare infrastructure and increased healthcare spending among the ageing population is quite high across Europe and North America.
The global knotless suture anchors market will register a steady growth owing to general growth in the geriatric population worldwide. Preference for absorbable knotless suture anchors is likely to swell to avail a successful and more precise outcomes as compared to the non-absorbable knotless suture anchors. Furthermore, increasing number of trauma injuries on shoulders and joints is propelling the demand of knotless suture anchors. Also, manufacturers are implementing advanced technology to develop latest technology products which will drive the growth of knotless suture anchors market.
“With increasing cases of joint and shoulder deformities and growing demand for minimally invasive surgeries, prominent market players are scrambling to augment their existing research and development capacities in order to introduce new approaches, thus bolstering growth prospects,” remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Knotless suture anchors Market Study
- By type, PEEK suture anchor is expected to acquire tremendous popularity through 2021
- Orthopedic centers & specialty clinics will emerge as the primary service providers for knotless suture anchors
- US is anticipated to witness increasing arthroscopic procedures leading the North America knotless suture anchors market
- Rising number of arthroscopic procedures are expected to widen growth opportunities across the UK and Germany
- Increased manufacturing of medical devices and trading of raw materials is expected to expand the China’s knotless suture anchors market
- Breakthroughs in arthroscopic surgery is anticipated to pilot the Indian knotless suture anchors market in forthcoming years
- Expanding geriatric population base is compounding arthroscopic surgeries, paving way for knotless suture anchors
- Growing awareness about the suture anchor devices & increasing investment for the development of advanced suture anchor system is boosting the growth
- Technological developments in surgeries is accelerating demand for minimally invasive procedures in the knotless suture anchors domain
- Apprehensions regarding surgical alteration of the tissue bones leading to complications is restricting knotless suture anchors penetration across certain regions
- Current awareness levels restricted to the developing nations and poor healthcare infrastructure are limiting uptake of knotless suture anchors approaches to certain regions
Discover more about the knotless suture anchors market with figures and data tables, along with the table of contents.
Key players operating in the global market of knotless suture anchors are Arthrex Inc., DePuy Synthes, Smith & Nephew PLC, Wright Medical Group NV, Medtronic PLC, Stryker Corporation, ConMed Corporation, Parcus Medical LLC, Zimmer Biomet Holdings Inc., and In2Bones Global Inc. among others. Product approvals by key regulatory authorities, expansion of product portfolios and strategic mergers & acquisitions are some of the key factors that are enhancing revenue streams of key market players.
On February 23rd 2021, In2Bones Global Inc. announced the U.S. launch of Hercules Suture Anchor System and AlloAid Wedges for lower extremity surgeries by implementing advanced technology to expand the company’s already robust portfolio of pre-sterilized and OR-ready extremity products.
Also, Acuitive Technologies received the U.S. Food and Drug Administration 510(k) clearance on 12th February 2021, for its Citregen knotless suture anchor, designed to assist in the attachment of tissue to the bone during orthopedic surgeries.
Furthermore, Smith & Nephew PLC, in October 2020, announced the launch of Healicoil knotless suture anchor to expand its revolutionary line of advanced healing solutions for rotator cuff repair.
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More Insights on the Knotless Suture Anchors Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global knotless suture anchors market, presenting historical demand data (2016-2020) and forecast statistics for the period, 2021-2031. The study divulges compelling insights on the market based on physical form (absorbable and non-absorbable), type (bio-absorbable, metallic, bio-composite, and PEEK), end user (hospitals, ambulatory surgical centers, orthopedic centers, and specialty clinics) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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