Tendon Repair Market to Reach $3.2 Bn, Globally, by 2031 at 6.2% CAGR: Allied Market Research

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Aug 12, 2022, 03:30 ET

PORTLAND, Ore., Aug. 12, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Tendon Repair Market by Product Type (Implants, Suture anchor devices, Grafts, Screws, Others), by Application (Foot and ankle tendon repair, Flexor and extensor tendon repair, Rotator cuff tendon repair, Others), by End User (Hospitals and clinics, Ambulatory surgery centers): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global tendon repair industry was estimated at $1.8 billion in 2021, and is anticipated to hit $3.2 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.

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Determinants of growth-

Increase in number of geriatric populations suffering from tendonitis, rise in awareness regarding physical fitness and body building, and surge in sports related injuries & road accidents drive the growth of the global tendon repair market. Moreover, significant spike in R&D activities is expected to create lucrative opportunities in the industry.

Covid-19 scenario-

Significant reduction in clinical trials due to strict government guidelines had a sheer negative impact on the global tendon repair market. Surgeries of tendon damaged patients were either postponed or cancelled especially during the initial period.
Also, the global lockdown led to huge disruptions in the manufacturing and transportation of healthcare essentials.
However, with the mass vaccination drives on board, the global situation has highly improved, and the market for tendon repair is also getting back on track.

The suture anchor devices segment to dominate by 2031-

Based on product type, the suture anchor devices segment held nearly two-fifths of the global tendon repair market revenue in 2021, and is expected to lead the trail by 2031, owing to increase in orthopedic injuries in geriatric population. The others segment, nevertheless, would manifest the fastest CAGR of 8.0% from 2022 to 2031. Rise in accident cases leads to high adoption of tendon repair products is fueling the segment growth.

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The rotator cuff tendon repair segment to rule the roost-

Based on application, the rotator cuff tendon repair segment generated the major share in 2021, holding more than two-fifths of the global tendon repair market, and is projected to dominate throughout the forecast period. Increase in sports injuries and rise in stress shoulder cases among carpenters and painters drive the segment growth. The foot & ankle tendon repair segment, simultaneously, would cite the fastest CAGR of 7.5% by 2031. This is due to rise in physical exercises among children & adults and increase in interest toward professional sports among individuals.

The hospitals and clinics segment to maintain the lion's share-

By end-user, the hospitals & clinics segment contributed to nearly two-thirds of the global tendon repair market share in 2021, and is expected to retain its dominance by 2031. Factors such as well-equipped operation theatre and higher spending capacity of individuals drive the segment growth. The ambulatory surgery centers segment, on the other hand, is expected to exhibit the fastest CAGR of 6.7% from 2022 to 2031, due to rise in availability of technically skilled nurses for private practices.

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North America garnered the major share in 2021-

Based on region, North America held the major share in 2021, generating more than two-fifths of the global tendon repair market. Strong presence of key players and availability of approved therapeutics with higher adoption of tendon repair products fuel the segment growth. The Asia-Pacific region, however, would garner the fastest CAGR of 7.7% by 2031. This is attributed to rise in geriatric population and launch of various products in the region to fulfill the growing demands.

Key players in the industry-

Alafair Biosciences, Inc.
ConMed Corporation
Integra Lifesciences
Johnson & Johnson
Smith & Nephew
Stryker
TendoMend
BioPro Inc.
Arthrex Inc.
Aevumed, Inc.

The report analyzes these key players in the global tendon repair market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

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