Soft Tissue Allografts Market: Emergence of Advanced Technologies and Global Industry Analysis 2023
According to the Musculoskeletal Transplant Foundation, it has been estimated that almost 900,000 allografts are used each year in the U.S. Admirable product quality supported by successful clinical trials has increased patient preference and surgeon’s confidence to allograft option. The major benefit of soft tissue allografts is vast product differentiation or flexibility to choose from a vast range of appropriate grafts and the ability to customize the grafts according to the patient’s need.
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Standard soft tissue allografts provide various advantages such as lesser surgical time; reduced pain and improved rate of success due to which surgeons as wells as patients prefer these grafts for their treatment. Although disease transmission by an allograft is rare, it can be devastating and fatal. Various organizations such as the American Academy of Orthopedic Surgeons (AAOS) strongly recommend its members to use only tissue from banks that have been strictly inspected by authorities such as the U.S FDA and the American Association of Tissue Banks (AATB).
Geographically, North America accounts for the largest share in the soft tissue allografts market owing to the rising aging population and high adoption rate of advance medical technologies. Europe closely follows North America in terms of market share and is expected to witness a sluggish growth due to the economic turbulence faced by the countries in Western European region. However, other regions such as Asia-Pacific and Latin America are expected to be the potential markets in the near future.
Due to the growing number of health care facilities coupled with high awareness rate among population for innovative surgical procedures, these regions are estimated to be the potential markets. Moreover, high competition and economic slowdown in mature countries such as the U.S., Canada, France and Germany will compel the organizations to focus on the Asia-Pacific market.
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The primary factors contributing to the growth of the global soft tissue allografts market are increasing aging population and high incidence rate of soft tissue injury as well as sports injuries. Moreover, increasing prevalence and incidence rate of degenerative joint diseases coupled with growing demand for minimally invasive orthopedic surgical procedures are also driving the growth of the soft tissue allografts market.
Furthermore, increased rate of obesity among population are contributing to the growth the overall soft tissue allografts market. However, restraining factors such as increased healthcare expenditure, rising cost of surgical procedures and stringent reimbursement policies by insurers might impede the growth of the soft tissue allografts market.
At present, the global soft tissue allografts market is highly fragmented. Some of the major companies involved with the soft tissue allografts market are AlloSource, Arthrex, Inc., B. Braun Melsungen AG, Covidien plc, Cook Medical, Inc., CONMED Corporation, CorMatrix Cardiovascular, Inc., Ethicon, Inc., Genzyme Corporation, RTI Surgical, Inc., Smith & Nephew plc, Stryker Corporation, TEI Biosciences, Inc and Zimmer Holdings, Inc.
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