The global artificial tendons and ligaments market size is anticipated to reach USD 39.7 million by 2025 at an 11.3% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Adoption of artificial grafts is on a rise owing to several benefits over autologous and allogenic grafts, such as high tensile strength, no immune reaction, and abrasion resistance. Increase in number of sports injuries, coupled with rising government efforts to create awareness about sports injuries and available medical reimbursements, is anticipated to fuel market growth.
For instance, the Government of Finland in collaboration with UKK Institute has been conducting a ‘LiVE-program’ since 2016 to improve safety in sports increase awareness about injury risks, sports training, and content of physical activity sessions. Over the past several decades, increase in participation of children and adolescents has been observed in various sports such as football, soccer, bicycles, handball, basketball, and volleyball. Moreover, increase in awareness about physical fitness among people will contribute to market growth.
Other factors likely to contribute to market growth include rising preference for minimally invasive surgery, continuous advancements in surgical procedures, and growing funding and research activities to develop novel materials for synthetic tendons and ligaments. Moreover, positive outcomes reported through various clinical trials pertinent to usage of artificial ligaments will accelerate growth in the near future. For instance, according to a study published in 2017 in NCBI, patients treated with artificial ligament after femoral tumor resection and reconstruction procedures exhibited a more stable hip joint and more active range of movement as compared to patients who did not received a synthetic ligament.
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Artificial Tendons and Ligaments Market Report Highlights
• The knee injuries segment held a major share in 2018 owing to increase in incidences of knee injuries, coupled with faster recovery observed with the use of artificial ligaments in comparison to autologous or allogenic grafts
• The hospitals and clinics end-use segment is expected to hold a significant share during the forecast period. Growth of the segment can be attributed to higher readmission rate for treatment of ACL reconstruction procedures and collaborative activities between key players and orthopedic clinics to create awareness about artificial tendons and ligaments.
• As of 2018, Europe accounted for the largest market share. Surge in number of sports injuries among young athletes, rising geriatric population prone to orthopedic disorders, and presence of key players in the region will boost the regional market
• The U.K. artificial tendons and ligaments market is expected to grow substantially over the forecast period. This growth is predicted to be majorly driven by increasing adoption of artificial tendons and ligaments, rising incidence of accidents, R&D of innovative product design, and favorable patient demographics.
• Growing healthcare expenditure, coupled with rising penetration of health insurance in Latin America and Asia Pacific countries such as China, India, Brazil, and Argentina are providing considerable growth opportunities to market players
• Industry players have been involved R&D activities to deliver novel products in the market. Companies are also strategically involved in expanding their geographical presence through distribution agreements to expand their customer base.
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Artificial Tendons and Ligaments Market Segmentation
Grand View Research has segmented the global artificial tendons and ligaments market on the basis of application, end use, and region:
Artificial Tendons and Ligaments Application Outlook (Revenue, USD Million, 2014 – 2025)
• Knee Injuries
• Shoulder Injuries
• Foot and Ankle Injuries
Artificial Tendons and Ligaments End-use Outlook (Revenue, USD Million, 2014 – 2025)
• Hospitals and Clinics
• Ambulatory Surgery Centers
Artificial Tendons and Ligaments Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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