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The global soft tissue repair market size is estimated to grow by USD 3,423.15 million at a CAGR of 4.5% between 2022 and 2027.
The number of elderly people has raised due to longer life expectancy and this number is expected to increase sharply during the forecast period. Important skeletal and neuromuscular changes due to aging can lead to arthritis, weak ligaments, and tearing of the ACL. The growing number of elderly people has increased the demand for orthopedic soft tissue repair procedures worldwide. According to the Census Bureau, by 2060 there will be 95 million Americans age 65 or older, up from about 52 million in 2018, and the share of people 65 and older is expected to grow from 16%. at 23%. Hence, the increasing demand for acute and long-term healthcare services is expected to propel the growth of the global soft tissue repair market during the forecast period.
Technavio has segmented the market into End-user, Product, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the hospitals segment will be significant during the forecast period. Hospitals are the main end users influencing the growth of the market. The orthopedic soft tissue repair product manufacturers focus on providing high-quality products to hospitals to enhance their brand /image and thereby expand their product reach. To increase the effectiveness of treatment, hospitals are applying this device to diagnose diabetic retinopathy, cardiovascular disease, and dermatology.
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The hospitals segment was valued at USD 7,022.66 million in 2017. Large hospitals such as general hospitals have over 500 beds, providing accommodation for individuals from the locality and surrounding areas. The demand for soft tissue repair products in the hospital will increase due to the increasing number of hospitalizations for surgical care. Medium-sized hospitals have a limited number of providers. The number of emergency room visits is increasing due to the increasing number of traumatic brain and orthopedic injuries. This will increase sales of orthopedic soft tissue repair products in mid-sized hospitals. Hence, these factors will fuel the growth of the hospital segment of the global soft tissue repair market during the forecast period.
Soft tissue fixation devices and accessories include mesh, screws, anchors, soft tissue clinch, and suture devices. These accessories are used for orthopedic, dental, dermatological, and other applications. Dominated market players such as Medtronic, Zimmer Biomet, and Smith & Nephew. Several vendors are offering new variations of tissue repair solutions. For example, Integra LifeSciences offers the AmnioExcel Plus Placenta Prosthetic Membrane, which aids in soft tissue repair. Companies need to demonstrate the integrity of orthopedic soft tissue repair devices such as screws and anchors, which will help them to gain regulatory approval and increase sales in the market. Thus, such factors will boost the growth of the soft tissue fixation devices and accessories segment of the global soft tissue repair market during the forecast period.
Cell therapy is a process in which living cells are injected into the body, helping to restore function to a diseased or damaged organ. Companies like Organogenesis and Acecity are developing cell therapy products. Many institutes and research laboratories conduct research on biological products that can be used in cell therapy. Nowadays, most cytotherapeutic products are available in the market for wound, skin, cartilage, and bone restoration; however, surgeons are now shifting their focus from conventional organ transplants to advanced stem cell therapies. It has been observed that Europe leads the market with most stem cell therapy products. Thus, such factors will propel the growth of the cell therapy segment of the global soft tissue repair market during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. Due to the growing demand for stem cell and tissue products designed to treat various diseases, increased funding in the US from the National Institutes of Health (NIH) and the Agency for Research and Biomedical Advanced Development (BARDA) will support product development. The potential of these products is one of the key factors driving the market in North America. For cell therapy, the application of stem cells and advances in nanotechnology will represent further advancement in this market.
Furthermore, market players like Medtronic and others have increased investment in R&D to develop innovative medical therapies, which is driving the overall growth of the market. The market is quite fragmented, with the presence of many large and small players. The market is also witnessing an increase in the number of mergers and acquisitions and strategic supplier alliances, which will have a remarkable impact on the growth of the market by increasing the number of products and developing new products. Therefore, such factors will drive the growth of the market in this region during the forecast period.
In 2020, the outbreak of COVID-19 significantly declined the demand for soft tissue repair in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown restrictions, which led to the resumption of operations in clinics and hospitals that offer orthopedic surgeries and treatment. Furthermore, pharmaceutical companies are investing heavily in R&D to find possible ways to treat orthopedic defects. Hence, these factors are expected to open new opportunities for orthopedic treatments and fuel the growth of the North American soft tissue repair market during the forecast period.
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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:
Medtronic Plc: The company offers soft tissue repair products such as plasmablade and aex generator.
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 2022 as the base year, along with the key drivers, trends, and challenges.
Reimbursement for soft tissue repair products is the key factor driving the growth of the market. In developed countries, due to the reimbursement of surgical and orthopedic soft tissue repair products, sales are growing. In France, NORAKER has developed the LockActiv destructible synthetic intervention screw to immobilize tendons and bone grafts, reimbursed by medical insurance. In Japan, Taisho Pharmaceutical has developed the LOQOA Tape anti-inflammatory pain relief patch formulation for the treatment of osteoarthritis and joint pain.
Furthermore, product reimbursement, for example, in the US, the Centers for Medicare and Medicaid Services (CMS) returns soft tissue products that have been approved by the US FDA. The reimbursement provided by CMS to doctors acts as an incentive for them to provide better medical services. Hence, these factors will fuel the growth of the global soft tissue repair market during the forecast period.
The growing use of orthopedic devices in emerging markets is a primary trend shaping the growth of the market. Market players are expected to have ample growth opportunities in countries such as China, India, and Brazil. This is because the market in these countries is characterized by a large patent base for targeted indications (such as cardiovascular, orthopedic, general, and gynecological disorders), awareness-raising health, increased spending on healthcare, growth in medical tourism, and a rapidly growing healthcare infrastructure.
Furthermore, the availability of well-equipped surgical facilities in private hospital chains and the presence of skilled surgeons are factors leading to the increase in the number of medical tourists. Countries such as Saudi Arabia and the UAE are focusing their attention on developing healthcare facilities for primary care, secondary hospital segments, prevention, and diagnosis for their populations. Hence, the increasing use of orthopedic devices in emerging markets is expected to drive the growth of the global soft tissue repair market during the forecast period.
The high cost of clinical trials and the failure rate in clinical trials is the challenge that affects the growth of the market. Most providers conduct clinical trials in developed countries such as the US, UK, Germany, France, Japan, Singapore, and South Korea. Since these are high-income countries, the cost of clinical trials and product launches in these countries will be high. The estimated cost of soft tissue repair products, such as cell therapy-based products, from preclinical development to product approval can cost the company up to USD 1.5 billion. As a product goes through the clinical stages, various factors need to be examined, such as dosage, product administration, toxicity, and immune rejection. Most products fail in clinical trials due to safety and effectiveness issues.
Furthermore, according to a joint study conducted by the Department of Public Health, Aix Marseille, and Creativ-Ceutical University for Advanced Medicine (ATMP), about 939 clinical trials have been investigated, of which 85% are being investigated, and 15% completed. Of the 85% of ongoing trials, only 53.6% involve somatic cell therapy. Failure of clinical trials can result in an economic burden for players, which is a major challenge faced by many market players. Hence, these factors will impede the growth of the global soft tissue repair market during the forecast period.
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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 Soft Tissue Repair Market Customer Landscape
The soft tissue repair market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Soft Tissue Repair Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2023-2027 |
USD 3,423.15 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.86 |
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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 34% |
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Key countries |
US, Germany, France, UK, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., Acera Surgical Inc., AlloSource, Arthrex Inc., Artivion Inc., Becton Dickinson and Co., Conmed Corp., Ed. Geistlich Sohne AG, Integra Lifesciences Corp., Johnson and Johnson, JRF Ortho, Koninklijke DSM NV, LifeCell International Pvt. Ltd., LifeNet Health Inc., Medtronic Plc, RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., Tissue Regenix Group Plc, and Zimmer Biomet Holdings 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, 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 End-user
7 Market Segmentation by Product
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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