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The global orthopedic soft tissue repair devices market size is estimated to grow by USD 6.39 billion at a CAGR of 11.28% between 2023 and 2028.
Due to an increase in accident and trauma cases, the number of surgeries performed globally is rising in large part. The WHO Global Status Report (2020) indicates that there is an increase in the number of accidents and trauma cases across the globe. In addition, a lot of severe trauma injuries. Due to the increasing prevalence of traumatic injuries such as TBIs and injuries from falls and accidents, the number of trauma surgeries performed worldwide is expected to grow. This will propel the growth of the global orthopedic soft tissue repair devices market during the forecast period.
Technavio has segmented the market into Product Type, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the fixation devices segment will be significant during the forecast period. Fixation devices are made of artificial materials, and their purpose is to take the place of the bony structure. These aid in securing and supporting the bones as they recover from surgery or injury. Fixation devices can be used for a variety of conditions, including fractures and sports injuries. Trauma to the musculoskeletal system is the main use for this kind of fixation device.
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The fixation devices segment was valued at USD 3.54 billion in 2017. Some of the fixation devices are suture anchors and interference screws. Suture anchors are widely used for securing soft tissue to the bone and have become crucial tools in arthroscopic surgery and sports medicine. A direct tendon-to-bone interference fixation tool is the interference screw. It is a typical compression fixation device that fixes the graft by engaging and compressing it with the screw threads. Hence, the rising need for fixation devices in orthopedic soft tissue repair will drive the growth of the fixation devices segment during the forecast period.
The increasing number of public and private specialty hospitals and clinics providing orthopedic-related treatments will influence the growth of the hospitals and clinics segment. Due to the increasing prevalence of orthopedic-related disorders and diseases and associated risk factors and the rapidly growing elderly population, the hospital and clinic segment is expected to grow steadily. Furthermore, increasing R&D activities, growing healthcare infrastructure, and the adoption of advanced orthopedic soft tissue repair devices are expected to boost the growth of the market under the hospitals and clinics segment during the forecast period.
Ambulatory surgery centers (ASCs) have revolutionized the outpatient surgical experience by providing high-quality care, excellent customer service, cost savings, and a host of other benefits. Although hospitals play an important role in our community, there are numerous advantages to having an outpatient orthopedic procedure done at an ambulatory surgery center rather than a hospital. The higher efficiency at an ambulatory surgery center accounts for the price difference. Thus, such factors are expected to drive the growth of the ASCs segment in the global orthopedic soft tissue repair devices market during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The rising healthcare spending and investments in the sector's infrastructure are also major contributors to the growth of the region, as they can lower the cost of expensive orthopedic soft tissue repair surgeries.
In addition, the region has the presence of several key market players, such as Arthrex Inc., Becton Dickinson and Company, Stryker Corporation, CONMED Corporation, and RTI Surgical. Market players in the region highly focus on developing new products that will help them increase their market reach and register growth. The geriatric population in the region is expected to grow significantly which is expected to drive the demand for orthopedic-related treatments, which will boost the growth of the market in North America during the forecast period.
In 2020, the outbreak of COVID-19 significantly declined the demand for orthopedic soft tissue repair devices in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of operations in clinics and hospitals that offer orthopedic surgeries and treatment, which increased the demand for orthopedic devices. Additionally, companies are investing heavily in R&D to find a feasible way to treat orthopedic disabilities. Thus, such factors are expected to open up new opportunities for orthopedic treatments and will drive the growth of the orthopedic soft tissue repair devices market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AlloSource: The company offers orthopedic soft tissue repair device such as AlloConnex which includes tendons, ligaments, and fascia to support the multitude of procedures surgeons perform connecting patients back to their active lifestyles.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rising geriatric population across the globe is the key factor driving market growth. Older adults heal more slowly than younger ones. Older people lose muscle tissue more quickly than younger adults when inactive or immobilized. Therefore, being immobile can cause muscle weakness. Muscles can occasionally grow permanently shorter, and tissues near the joint, such as ligaments and tendons, can develop scar tissue. Such factors are driving the demand for orthopedic treatments and devices.
Furthermore, critical skeletal and neuromuscular changes brought on by aging can result in arthritis, weakened ligaments, and ACL tears. The number of elderly people has increased, which has increased the demand for orthopedic soft tissue repair procedures across the globe. The number of elderly people is growing quickly right now. As a result, there is a growing demand for both acute and long-term healthcare services, which is anticipated to drive the growth of the market during the forecast period.
The growing use of orthopedic devices in emerging countries is the primary trend shaping market growth. Market players should have a lot of opportunities for growth in nations such as China, India, and Brazil. This is due to the markets in these nations being characterized by a significant patent base for target indications (such as cardiovascular, orthopedic, general, and gynecological disorders), growing health awareness, increasing healthcare expenditure, growing medical tourism, and quickly developing healthcare infrastructure.
Additionally, the availability of well-equipped surgical facilities across private hospital chains and the presence of skilled surgeons are factors that are increasing the number of medical tourists who travel to developed nations such as the US, Germany, France, and the UK for treatment. Thus, such factors are expected to drive the growth of the market during the forecast period.
The lack of availability of skilled personnel for the use of orthopedic soft tissue repair devices is a challenge that affects market growth. Advanced biosurgery products are increasingly replacing traditional wound closure tools such as sutures and staples. Although these products provide better results, they must be used by qualified surgeons and medical professionals. One of the main obstacles preventing the widespread use of these products at the moment is the scarcity of qualified surgeons in both developed and developing economies.
In addition because of the development of technology, the technology landscape and the areas where soft tissue repair products are used are rapidly changing. As a result, medical professionals in hospitals and clinics are hesitant to close wounds with cutting-edge surgical products. Hence, the lack of availability of skilled personnel for the use of orthopedic soft tissue repair devices may impede the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Orthopedic Soft Tissue Repair Devices Market Customer Landscape
The orthopedic soft tissue repair devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Orthopedic Soft Tissue Repair Devices Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.28% |
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Market Growth 2024-2028 |
USD 6.39 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.79 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 45% |
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Key countries |
US, Germany, France, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acera Surgical Inc., AlloSource, Amplitude SAS, Becton Dickinson and Co., Boston Scientific Corp., Conmed Corp., Integra Lifesciences Corp., Johnson and Johnson, JRF Ortho, LifeCell International Pvt. Ltd., LifeNet Health Inc., Medtronic Plc, MTF Biologics, RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., Tissue Regenix Group Plc, Zimmer Biomet Holdings Inc., and Arthrex Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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