Soft Tissue Anchors Market Projected to Expand at a 5.9% CAGR Through 2033 | Persistence Market Research Report

The global soft tissue anchors market was valued at approximately US$ 671.3 million in 2022 and is projected to reach US$ 1.25 billion by 2033, growing at a CAGR of 5.9%. This growth is driven by the rising prevalence of orthopedic injuries, increasing demand for minimally invasive procedures, and advancements in bio-composite suture anchors. The knotless suture anchors segment dominated the market, holding a 66.4% share in 2022. Geographically, North America, particularly the U.S., leads the market due to a high incidence of sports injuries and robust healthcare infrastructure.

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Key Highlights from the Report

The soft tissue anchors market is expected to grow at a CAGR of 5.9% from 2023 to 2033.

Knotless suture anchors accounted for 66.4% of the market share in 2022.

The absorbable suture anchor segment held around 77% of the total market share in 2022.

The U.S. accounted for 35.5% of the global market in 2022 due to a high rate of sports injuries.

Over 8.9 million fractures occur annually worldwide due to sports-related injuries and road accidents.

The orthopedic devices market, in which soft tissue anchors hold a 1.6% revenue share, was valued at US$ 40.9 billion in 2022.

Market Segmentation

By Product Type

Soft tissue anchors are categorized into absorbable and non-absorbable anchors. Absorbable soft tissue anchors dominated the market with a 77% share in 2022 due to their ability to be reabsorbed by the body, eliminating the need for implant removal and reducing post-surgical complications.

By Material

The market is segmented into metallic, bio-composite, and polymeric suture anchors. Bio-composite suture anchors, which held a 51.7% share in 2022, are widely preferred due to their biocompatibility and ability to promote bone integration.

Regional Insights

North America

The U.S. is the leading market, driven by a high prevalence of sports injuries and advanced orthopedic treatment facilities. ACL injuries alone affect over 150,000 U.S. citizens annually, significantly driving market demand.

Asia-Pacific

Japan and China are emerging markets, with Japan's growth being fueled by an aging population and government investments in healthcare. Over 60% of people over 60 in Japan suffer from radiographic osteoarthritis, boosting demand for orthopedic procedures.

Market Dynamics

Market Drivers

The market is primarily driven by the rising incidence of sports-related injuries, osteoporosis-related fractures, and advancements in surgical techniques. Increasing awareness and adoption of minimally invasive surgeries also contribute to market expansion.

Market Restraints

Product recalls and stringent regulatory approvals pose challenges to market growth. For instance, the recall of Grappler Suture Anchor by Paragon 28 Inc. in July 2022 due to safety concerns impacted the company's market position.

Market Opportunities

Technological advancements in bio-composite and knotless suture anchors present lucrative growth opportunities. Additionally, increasing healthcare spending in emerging markets is expected to drive future demand.

Reasons to Buy the Report

✔ Comprehensive analysis of market trends and future projections.
✔ Insights into key segments, including product type and regional markets.
✔ In-depth study of competitive strategies and key player activities.
✔ Evaluation of market drivers, restraints, and opportunities.
✔ Exclusive data on market share and CAGR projections.

Company Insights

Key Players

Smith & Nephew

Johnson & Johnson

Zimmer Biomet

Arthrex Inc.

Stryker Corporation

ConMed Corporation

Recent Developments

In February 2021, Acuitive Technologies received U.S. FDA approval for its CITREFIX knotless suture anchor system made with advanced synthetic polymer CITREGEN.

In January 2021, Smith & Nephew acquired the Extremity Orthopedics division of Integra LifeSciences Holdings Corporation for US$ 240 million to strengthen its product portfolio.

The soft tissue anchors market is poised for robust growth, driven by increasing orthopedic procedures, technological advancements, and expanding healthcare infrastructure across key regions. With a strong market outlook, key players are focusing on innovation and strategic acquisitions to maintain their competitive edge.

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