Soft Tissue Repair Market to 2025 - Global Analysis and Forecasts
LONDON, August 29, 2018 /PRNewswire/ -- In our study, we have segmented the soft tissue repair market by product and application.Soft tissue repair market, based on the product is segmented into fixation instruments and tissue mesh/patch.
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Fixation instruments is further segmented into fixation instruments, suture anchors, interference screw, sutures, and others.Tissue mesh/patch is further segmented into synthetic and biological mesh.
Soft tissue repair market, based on the application is segmented into orthopedic repair, hernia repair, breast reconstruction, pelvic and vaginal prolapse repair, skin repair, dental and dural repair, and others.
The soft tissue repair market is estimated to account for US$ 6677.0 Mn by the end of 2025, and growing at a CAGR of 8.3% during the forecast period from 2018 to 2025, rising from US$ 3590.5 Mn in 2017. The growth of the soft tissue repair market is primarily attributed to rising prevalence of sport injuries, increasing number of orthopedic procedures and rising geriatric population. Increasing number of products approvals also accelerates the growth of the market. For instance, in May, 2018, TELA Bio, Inc., manufacturer of OviTex Reinforced BioScaffolds (RBSs) for soft tissue repair announced that Aroa Biosurgery, a soft-tissue repair company in New Zealand, granted EC Certification (CE Mark) permitting commercial launch of OviTex RBSs in the European Union (EU).
North America is anticipated to hold a significant share in the global soft tissue repair market, owing to various factors such as increasing number of ACL reconstruction procedures, new product development and expansion by market players.North America consists of two regions namely US, Canada, and Mexico, with US being the largest market followed by Canada.
As per the American Orthopedic Society for Sports Medicine, in the United States there are nearly 100,000 to 250,000 ACL ruptures annually.Furthermore, tissue injuries have received significant importance which has led to increasing awareness about soft tissue injuries and its treatment among the athletes.
The demand for soft tissue repair is anticipated to increase at a considerable rate in Asia Pacific region during the forecast period.Rising number of sport injuries and increasing demand for soft tissue devices for injures to ligaments and tendons among adults are key drivers for the growth of the market in Asia Pacific.
In Japan, rapid economic growth, urbanization and increasing participation in sports led to tremendous development in sports activities and demand for sports medicine drive the growth of the market.
The market for soft tissue repair consists of well-established players across the globe. Some of the prominent players in this market are Smith & Nephew, Depuy Synthes, Arthrex, Inc., Medtronic, Integra Lifesciences Corporation, Stryker, C.R Bard, Inc., Organogenesis, ConMed, Wright Medical Group, Inc. among others.
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