Soft Tissue Repair Market | Increasing Aging Population and Obesity Rate

According to Precision Business Insights (PBI), the latest report the global soft tissue repair market is expected to be worth USD 10,783.2 million in 2021 and projected to grow at an 5.9% CAGR over 2022 to 2028. The growing geriatric population more prone to soft tissue injuries is predicted to fuel demand for soft tissue repair solutions. Heavy R&D expenditures by market companies such as Smith & Nephew Plc., Medtronic Plc., and Arthrex, Inc., among others, is expected to drive the soft tissue repair market share internationally.

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The Tissue Patch/Matrix segment is Dominating the Soft Tissue Repair Market:
The Tissue Patch/Matrix segment is expected to account for a larger revenue share, and the market is expected to grow at double digit growth rate over the forecast years owing to the fact that tissue Patch/Matrix is found on the outside of tissues and helps in the binding of cells with collagen. It consists of Structured proteins, glycoproteins, glycosaminoglycans, and proteoglycans. Because extracellular matrix allows recipient cells to recover, it is employed in various applications, including heart and vascular repair operations. Several reasons, including the increasing prevalence of cardiovascular disorders and injuries and a rise in vascular reconstruction techniques, are driving the Tissue Patch/Matrix segment.

North America Leads Soft Tissue Repair Market:
North America is expected to hold significant market share in the global soft tissue repair market and is projected to grow at a prominent growth rate over the forecast years. Due to increasing frequency of knee arthroscopies performed in North America the market is expected to grow significantly in the future. For instance, according to a research study, 700,000 of the 1 million knee arthroscopies performed in the United States each year include the meniscus. Moreover, Rising healthcare expenditure and sophisticated healthcare infrastructure are other major elements driving regional prosperity.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Soft Tissue Repair market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In December 2019, Medtronic, the U.S. bases company, received FDA approval for its Dextile Anatomical Mesh. This hernia repair mesh provides broad coverage of the myopectineal orifice to minimize the risk of recurrence and maintain shape after trocar passage. This approval supported the company in broadening its product portfolio and strengthening its market growth. In February 2019, Smith and Nephew, a British multinational medical equipment manufacturing company, launched the Double ENDOBUTTON Fixation Device after receiving U.S. FDA clearance. This medical device is intended to treat anterior glenoid bone loss using the Latarjet or bone block procedure (allograft or autograft). This launch helped the company strengthen its tissue repair product portfolio.

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The soft tissue repair market is segmented based on Product Type, Animal, and Geography.
Based on the Product Type, the market is segmented into the following:
• Tissue Patch/Matrix
• Tissue Fixation Devices

Based on the Application, the market is segmented into the following:
• Hernia Repair
• Orthopedic
• Skin Repair
• Dural Repair
• Others

Based on the End-use, the market is segmented into the following:
• Hospitals
• Ambulatory Surgical Centers
• Clinics

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the Soft Tissue Repair Market report are Arthrex Inc, Smith & Nephew plc, Johnson & Johnson, Becton, Dickinson & Company, Stryker Corporation, Medtronic plc., Zimmer Biomet, Integra Lifesciences Holdings Corporation, Cryolife Inc., Organogenesis Inc, Lifenet Health Inc.

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