July 14, 2022 14:13 ET | Source: The Brainy Insights The Brainy Insights
Newark, July 14, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global tendon repair market is expected to grow from USD 1.7 billion in 2021 to USD 3.0 billion by 2030, at a CAGR of 6.9% during the forecast period 2022-2030.
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With aging, the likelihood of suffering damage to the connective soft tissues increases. As a result, the number of patients with soft connective tissue or tendon injuries will rise as the older population grows. Tendon repair operations and treatments will become more widely used as a treatment for tissue damage due to their less invasive nature. In the projected period, the global market will be driven by the rising prevalence of tissue injuries and the increasing acceptance of minimally invasive tendon repair surgeries. Obesity has become more common due to a sedentary lifestyle with little physical activity. Obese people are more likely to sustain tissue damage or injury due to limited mobility. No physical activity, bad diets, on-the-go snacking, lack of sleep and increasing workload are all linked to back pains, shoulder problems, and other joint pains in today's society. Tendon repairs will become more in demand as tissue degeneration increases due to people's sedentary and unhealthy lifestyles. As the number of sporting events and athletes grows, the likelihood of sports-related injuries also grows. As a result, the market for tendon repair will be driven by the rising number of sports-related injuries. The expensive nature of tendon repair procedures will hamper the market's growth. The lack of reimbursement policies will further challenge the development of the market. An increase in public healthcare infrastructure can help the market overcome these challenges.
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To enhance their market position in the global tendon repair market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• CoNextions Inc., a tendon repair inventor, stated in October 2020 that the first patient had been treated with the CoronetTM Soft Tissue Fixation System, a tendonitis device intended for the fixation of soft tissue and tendon to the bone, in a Kidner operation.
The growing geriatric population will fuel the expansion of the tendon repair industry. An increase in obese people will fuel the global tendon repair market. The increased incidence of sports-related injuries necessitating minimally invasive tendon repair operations would further aid market growth. The global tendon repair market will be boosted by technological improvements that enable simple, effective, and faster tendon repair methods and techniques with faster recovery. Governments worldwide have increased their healthcare expenditure to improve the healthcare infrastructure, logistics, systems, and development of advanced medicine. The increased private expenditure on developing enhanced tendon repair procedures and techniques will also provide an impetus to the tendon repair market.
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• In 2021, the suture anchor devices segment dominated the market with the largest market share of 45% and market revenue of 0.76 billion.
The product type segment is divided into screws, grafts, implants, suture anchor devices, tendons repair matrix, scaffolds, & others. In 2021, the suture anchor devices segment dominated the market with the largest market share of 45% and market revenue of 0.76 billion.
• In 2021, the rotator cuff segment dominated the market with the largest market share of 47% and market revenue of 0.79 billion.
The application segment is divided into rotator cuff repair, cruciate ligament repair, biceps tenodesis, Achilles tendinosis repair, & others. In 2021, the rotator cuff segment dominated the market with the largest market share of 47% and market revenue of 0.79 billion.
Regional Segment Analysis of the Tendon Repair Market
• North America (U.S., Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global tendon repair market, with a market share of around 34% and 0.57 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The tendon repair market in the Asia Pacific has been expanding rapidly. According to the world aging population report of 2019 published by the United Nations, 703 million people are aged 60 and above. This figure is estimated to reach 1.5 million by 2050. Furthermore, soft tissue injuries are the most common in people aged 60 and above. More than 40% of rotator cuff injuries are found in the elderly (60+). Also, around 2 million people will suffer from musculoskeletal conditions globally in 2021, according to the report published by the World Health Organization. Tendon injuries restrict limb movement of the patients and degrade the quality of life as they impact the body's motor functions. The geriatric population holds a significant share of the patients suffering from soft tissue damage. A considerable portion of the global elderly population resides in the Asia Pacific. Tendon repairs can help restore lost mobility and relieve the pain. Therefore, the growing geriatric population suffering from tissue damage and injury will contribute to the increasing demand for tendon repairs, resulting in market development during the forecast period.
Key players operating in the global tendon repair market are:
• Medical Device Business Services Inc. • Integra LifeSciences • Stryker • Smith & Nephew • Arthrex Inc. • Aevumed • CONMED Corporation • BioPro Inc. • MIMEDX • Amniotics AB
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global tendon repair market based on the below-mentioned segments:
Global Tendon Repair Market by Product Type:
• Screws • Grafts • Implants • Suture Anchor Devices • Tendons Repair Matrix • Scaffolds • Others
Global Tendon Repair Market by Application:
• Rotator Cuff Repair • Cruciate Ligament Repair • Biceps Tenodesis • Achilles Tendinosis Repair • Others
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The global tendon repair market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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