Soft Tissue Repair Market Surpass US$ 6677.0 Mn in 2025 and to grow at a CAGR of 8.3% says, The Insight Partners
Soft Tissue Repair Market Insight
According to our new research study on “Soft Tissue Repair Market Forecast To 2025 - Global Analysis by Product, and Application,” the market is expected to reach US$ 6677.0 million in 2025 from US$ 3590.5 million in 2017; it is estimated to grow at a CAGR of 8.3% from 2016 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the global soft tissue repair market is attributed to the rising prevalence of sport injuries, and increasing number of orthopedic procedures. However, lack of awareness about soft tissue injuries is the major factor hindering the market growth.
As there has been an increase in the number of soft tissue injuries among children, adults and geriatric population. Healing of such injuries among the geriatric population requires time due to prevalence of diabetes. Soft tissue injuries are also common among the sportsmen and athletes which may require immediate treatment. Sutures, suture anchors, interference screw are various fixation devices used for soft tissue fixation. Synthetic meshes, allograft, xenograft are also used to replace the lost soft tissue in various parts of the body. The growth of the global soft tissue repair market is attributed to the rising prevalence of sport injuries, and increasing number of orthopedic procedures. However, lack of awareness about soft tissue injuries is the major factor hindering the Soft Tissue Repair market growth.
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Soft Tissue Repair Market Comparative Landscape and Key Development
Smith & Nephew, Depuy Synthes, Covidien (Medtronic), Wright Medical Group, Inc., C.R Bard, Inc., Arthrex, Inc., Integra Lifesciences Corporation, Organogenesis, Stryker, ConMed are among the leading companies operating in the global soft tissue repair market.
The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Rising Prevalence of Sport Injuries to Drive Global Soft Tissue Repair Market Growth
The Center of Disease Control and Prevention (CDC) stated that there is a rise in the number of adults and teenagers participating in sports. As per The Johns Hopkins University, sport injuries are common among adults and children engaged in various sport activities such as football, basket, soccer, ice hockey and other games and athletics. Sprains and strains, knee injuries, achilles tendon injuries, fractures, dislocations, rotator cuff injuries are some of the common sport injuries. The prevalence of sports injuries is on rise due to increasing number of adults participating in sports. Number of government organizations carry out surveys to determine the total number of sport injuries that are common in a particular areas and are needed to be addressed.
As per the data by The National Safety Council, in 2015, in the US, population in the age group from 5 to 14 accounted to 51% of total football injuries treated in emergency rooms. Also, the total number of people injured during winter sports such as snowmobiling, snowboarding and ice skating was 56,714. The FIFA stated that the knee, ankle, and hamstring incur the most orthopedic injuries. The total of football injuries treated at the U.S. hospital emergency rooms were 239,943. Out of these injuries 79,384 were strains and sprains, 48,806 were fractures, and 5,401were dislocations.
Based on application, the global soft tissue repair market is segmented into orthopedic repair, hernia repair, breast reconstruction, pelvic and vaginal prolapse repair, skin repair, dental and dural repair, and others. The orthopedic repair segment held the largest market share in 2017, and the same segment is estimated to register the highest CAGR during the forecast period. Rising demand of orthopedic soft tissue fixation devices offer lucrative opportunities for the growth of orthopedic repair segment.
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