Suture Anchor Market | Growing Technological Developments to Propel the Growth of the Market
There are possibilities that an athlete might suffer detachment of a ligament or tendon and/or any other soft tissue in the body while practicing or during the game. These injuries are extremely painful and require intensive care. Since, they ligaments and tendons are essential for the smooth movement of the joint, they require a solid support to keep them in place during the healing period. As a result sutures anchors are in high demand. Owing to this growing demand for the anchors, the global suture anchor market is expected to witness a substantial growth in coming years.
TMR Research's report on global suture anchor market presents actionable insights for the players to support them with better decision making. Moreover, the report also enlightens various aspects such as notable developments, key opportunities, restraints, and regional analysis of global suture anchor market for the time frame of 2018 to 2028.
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Global Suture Anchor Market: Notable Development and Competitive Analysis
Collaborating with various businesses is one of the major strategies that the players of global suture anchors market are adopting to have a sustainable future in the market. Moreover, acquisition is another step that is helping the businesses to expand their presence in the global market. The reason that is compelling the players to adopt these strategies is the growing competition in the market owing to joining of new players in the market. Already the market is fragmented and is stuffed with various players, it is quite natural that the addition of the new entrants in the global suture anchor market is expected to further intensify the completion.
Some of the instances where current players of market adopted the strategies of collaboration and merger are mentioned below:
- In November 2018, Stryker Corporation acquired K2M Group Holdings, Inc. The acquisition allowed the company to gain access to K2M’s flagship technologies for various orthopedic surgeries including ligament and tendons surgeries, As a result of this acquisition, Stryker Corporation now has technological advantage over its rivals in global suture anchors market.
- In October 2018, Zimmer Biomet collaborated with technology giant Apple, Inc. to launch a major clinical study on patients undergone two of the most common surgeries prevalent in U.S. today –hip and knee replacement. As result of this collaboration, Zimmer Biomet shall monitor the progress of the patients through Apple Watch and iPhone, and an app specifically designed interface the data for the two organizations. With the results of this study, Zimmer Biomet can understand how patients are responding to the surgeries that uses sutures and anchors developed by the company. This as a result shall allow the company to design and develop medical equipment specific to the patients. With this development and collaboration Zimmer Biomet is expected to account a major share in the growth of global suture anchors market.
Global Suture Anchor Market: Key Drivers
As a result of technological developments in healthcare sector and incorporation of emerging technologies such as IoT and Artificial intelligence in various surgical equipment are expected to boost the growth of global suture anchor market during the projected timer frame of 2018 to 2028. The market is expected to ride on developments such as STRATAFIX Spiral Knotless Tissue Control Device developed by DePuy Synthes. The suture anchor uses a unique technology that helps the sutures to maintain its line of approximation during the surgery by providing multiple fixation point.
Growing Demand for Bio-Composites Suture Anchors to Accelerate the Growth
Owing to benefits such as enhanced visibility of sutures during the surgery, swift insertion and removal of the sutures, and excellent strength of the anchors, the bio-composites sutures anchors are in high demand. Owing to this rising demand for the bio-composites sutures anchors, the market is expected to witness a robust growth in the projected time frame of 2018 to 2028.
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Global Suture Anchor Market: Regional Analysis
Owing to the factors such as rising participation in sports by youth, and rising number of sports related injuries in U.S. and Canada, North America is expected to dominate rest of the regions of global suture anchor market. The growth is also attributed to the various technological developments by players across the regions.
The global suture anchor market is segmented on the basis of:
- Biocomposite suture anchors
- PEEK suture anchors
- Metallic suture anchors
- Bioabsorbable suture anchors
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