Market Size – USD 6546.2 Million in 2018, Market Growth – CAGR of 5.7%, Market Trends – Advancement in technology for orthopedic soft tissue repair
According to the current analysis of Reports and Data, the global Orthopedic Soft Tissue Repair market was valued at USD 6546.2 Million in 2018 and is expected to reach USD 10208.1 Million by the year 2026, at a CAGR of 5.7%.
A soft tissue injury is a type of damage to ligament, muscles, shoulders, and knee. A soft tissue injury generally occurs from a sprain, strain, or continuous use of a particular part of the body. The injury can result in swelling, pain, and loss of function. The orthopedic soft tissue repair procedure is carried out to cure soft tissue injury. Soft tissue injury can be easily diagnosed using magnetic resonance imaging (MRI). These devices are used for closed technique treatments of worn or injured joints. The majority of such treatments are performed on knee and shoulder joints, although there is an increasing interest among the surgical community in hip and small joint arthroscopy.
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The growth of orthopedic soft tissue repair market is mainly attributed to an increase in the cases of sports-associated injuries across prime age-groups. Additionally, the growing incidence of musculoskeletal conditions such as arthritis in the geriatric population and increasing obese population also contribute to the growth of orthopedic soft tissue repair market. Easy and prompt availability of innovative surgical products will also lead to a high demand for orthopedic soft tissue repair procedures in the global market. Procedures such as rotator cuff repair are expected to gain significant traction during the forecast period. High incidence of musculoskeletal injuries and greater awareness about the availability of novel treatment solutions in the region contributes to the dominance of North America. Additionally, existence of large potential patient pool, significant geriatric population and widespread untapped opportunities make Asia Pacific the most lucrative market for investment.
On the other hand, the high cost of such procedures, limited reimbursements, and availability of non-surgical alternatives may restrain the growth of global orthopedic soft tissue repair market. One of the major trends witnessed in the global orthopedic soft tissue repair market is strategic partnerships and rapid commercialization of innovative surgical solutions among market players. For instance, in August 2015, Stryker acquired Mako Surgical Corp for total knee construction and total hip replacement robotic products.
Further key findings from the report suggest
- Cruciate ligaments repair dominate the global orthopedic soft tissue repair market in 2018; owing to higher prevalence ACL injuries among athletes.
- As of 2018, Knee segment held the largest market share of 41.7%, because it is a frequently affected target injury location among the athletes as well as the geriatric population base.
- Hip segment is estimated to witness lucrative growth at the CAGR of 5.3% over the forecast period. Posterior soft tissue repair is a common procedure in hip arthroplasty.
- North America dominated the global orthopedic soft tissue repair market and was valued at USD 2291.2 Million in 2018. The primary factors supporting the growth in this segment are the increasing investments for developed healthcare infrastructure along with the presence of the major market players in this region.
- Asia Pacific regional segment is projected to grow at the fastest rate of 6.6% over the forecast period owing to greater penetration of medical devices in countries like Japan and increasing geriatric population in this region
- However, lack of knowledge, increasing cost of surgical procedures, and lack of reimbursement are some of the major factors hindering the growth of orthopedic soft tissue repair market.
- Stryker, Arthrex, Zimmer Biomet, DePuy Synthes, CONMED Corporation, Zimmer Biomet Holdings, Tornier, AlloSource, LifeNet Health and Smith & Nephew are some of the major players in orthopedic soft tissue repair market.
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Orthopedic Soft Tissue Repair market on the basis of procedure type, injury type, and region:
Procedure (Revenue, USD Million; 2016–2026)
- Rotator cuff repair
- Achilles tendinosis repair
- Pelvic organ prolapsed
- Gluteal tendon repair
- Cruciate ligaments repair
- Hip Arthroscopy
- Biceps Tenodesis
Injury Location (Revenue, USD Million; 2016–2026)
- Small joints
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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