Global Soft Skeletal Implants Market to Register Growth in Incremental Opportunity after COVID-19 pandemic
The soft skeletal implants and device market is significantly growing in the field of biomedical research. In 2014, an estimated 723,000 knee replacements and 505,000 hip replacements were performed in the U.S. at a cost of more than $20 billion (including soft skeletal implants). These soft skeletal implants have tremendous capability to improve both, human and animal health. Thanks to the advancements in the technology used in soft skeletal implants and new devices in the pipeline, the soft skeletal implants market is growing over the years. Significant research on soft skeletal implants leads to the continuous development of new and novel devices to replace and improve bones and joints.
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The global soft skeletal implants market is segmented on the basis of material type, application type, and end user.
On the basis of material type, the global soft skeletal implants market is segmented into:
Other Body Tissues
Artificial Constricts /Synthetic Products
On the basis of application type, the global soft skeletal implants market is segmented into:
On the basis of end user, the global soft skeletal implants market is segmented into:
Ambulatory Surgical Centers
Soft skeletal implants that can enhance and substitute the growth of bone or cartilages are highly in demand for osteoarthritis and osteoporosis patients, and in cases involving trauma, burns, or accidents that have limited vascular or marrow supply, in order to support intrinsic repair. The increasing applications of soft skeletal implants in various therapeutic areas, along with the increasing demand for prosthetics are some of the key factors expected to boost the soft skeletal implants market. The global soft skeletal implants market is expected to experience a healthy CAGR over the forecast period. However, the reconstruction of soft skeletal implants, at times, can pose a serious challenge for both, plastic surgeons and tissue engineers.
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Challenges in soft skeletal implants include (i) construction of a replacement that is biologically and functionally integrated into the recipient’s deceased body part, (ii) It should be immunological compatible, and (iii) it must be compatible and durable enough to withstand the stress and strain aroused from skin stretching. The soft skeletal implants market is driven by growing medical infrastructure and technological advancements, which has led to tremendous improvements. Such incremental factors have led to the development of various composites by involving the usage of bones, muscles, blood vessels, nerves, connective tissues, dermis, and epidermis. In spite of huge market potential, the soft skeletal implants market is challenged by some potential risks. These soft skeletal implants possess severe challenges, such as surgical risks arising during their placement or removal, microbial infection, and material compatibility issues as some recipients develop reactions. In addition, there are also longevity issues, as these implants could break, move, or stop functioning properly. In such circumstances, the recipient may have to undergo additional surgical intervention to repair or replace the implant, bearing additional treatment costs.
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The global soft skeletal implants market can be segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the soft skeletal implants market with a large revenue share. The region’s domination is attributed majorly due to the growing geriatric population, which is due to an increase in the number of osteoarthritis and osteoporosis patients. Besides, the gradual adoption of minimally invasive procedures can be anticipated to push the growth of the soft skeletal implants market in the region. Europe, which invests aggressively in healthcare, is also expected to contribute significantly to the soft skeletal implants market share. From Asia Pacific, China and India are expected to register the fastest growth during the forecast period, whereas, Brazil from Latin America, is also anticipated to contribute significantly to the soft skeletal implants market. The key to market growth in these developing countries includes the increase in patient awareness and training, commercial availability of soft skeletal implants, rise in medical insurance, and improvement in healthcare infrastructure. MEA is also expected to grow at a decent rate during the forecast period in the soft skeletal implants market. However, factors such as lack of healthcare infrastructure and low profile healthcare regulatory bodies are expected to restrain market growth significantly in these regions.
Some of the market players in the soft skeletal implants market, globally, include ,
Smith & Nephew
Wright Medical Technology
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