Soft Tissue Repair Market Is Growing High & Expected To Create Lucrative Opportunities In The Upcoming Year With A CAGR Of 5.6%
Soft tissue injuries are trauma caused to muscles, ligaments, and tendons. Tendons are fibrous connective tissues that attach muscles to a bone. The damage caused by overstressing of muscles or tendons is known as strain. Whereas, ligaments are fibrous bands that connect bones to other bones. The injury caused due to overstretching or tearing of ligaments is called as sprain.
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Factors that drive the soft tissue repair market are surge in obese population and increase in geriatric population. However, the high cost associated with soft tissue repairs and lack of reimbursement are the factors projected to restrain the market growth. Moreover, the untapped potential of soft tissue repairs in developing countries, such as India, China, and Brazil, is anticipated to create lucrative opportunities for the key market players.
Based on type, the laparoscopic instrument segment accounted for about three-sevenths share of the global market in 2016 owing to the increase in minimally invasive surgeries and laparoscopic procedures globally.
By application, the hernia repair segment accounted for the highest share in the global market owing to the rise in hernia cases. For instance, at least 2% of men suffer from hernia in the U.S., i.e., 15 individuals per 1000 population suffer from various forms of hernia.
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Key Findings of the Soft Tissue Repair Market:
• The tissue mesh segment accounted for three-eighths revenue share of the total market in 2017, and is expected to register a CAGR of 5.8% during the forecast period.
• Biological mesh segment accounted for about half share of the global market in 2017 and is expected to garner a high CAGR of 6.0% during the forecast period.
• Dental repair segment is expected to grow at a higher CAGR of 6.4% during the forecast period.
• U.S. dominated the North America soft tissue repair market and is projected to retain its trend throughout the forecast period.
• China is expected to exhibit highest growth in the Asia-Pacific soft tissue repair market, registering a CAGR of 12.6% during the forecast period.
• Saudi Arabia is expected to exhibit highest growth in the LAMEA soft tissue repair market, registering a CAGR of 9.8% during the forecast period.
In 2017, North America was the highest contributor to the market in terms of revenue, owing to the increase in the wellness trend and the early adoption of novel technologies in this sector. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high-populace countries, such as India and China.
The key players operating in the global soft tissue repair market are Allergan Plc. (LifeCell Corporation), Athersys, Inc., CryoLife, Inc., Integra Lifesciences Corporation, Medtronic Plc., Organogenesis Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc., and Becton, Dickinson and Company (C.R. Bard). The other players operating in the value chain are Lifenet Health, Inc., American Medical Systems Inc., U.S. Stem Cell, Inc. (Bioheart, Inc.), Wright Medical Group, Inc., Isto Biologics (Isto Biologics Medical Systems, Inc.).
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