Suture Anchor Device Market Intelligence Study for Comprehensive Insights
Suture anchors can be used for many different surgeries, which requires fixation of tissue to bone. It forms a junction between the bone and the suture material, in which anchor to suture is used to fix soft tissues to bones. This device can also be utilized for a different application such as bladder neck suspension but is mainly used for shoulders. They also have great value in treating reconstruction of the rotator cuff, arthroscopic surgery, acetabular labrum defects and breakage in tendon biceps. The cost of these devices in the market has encouraged production of different type of anchor with various material, shape, size, mechanism and indication. The removal of dead skin, repairing the natural contour and minimum scar in the body is also an important factor to be considered for results.
Suture Anchor Device Market: Drivers and Restraints
The global market for suture anchor device market is expected to be driven by the advancement in technology. The key drivers of the market are the increasing cases of sports injuries, growing ageing population and increase in obese population causing orthopedic injuries. According to the HCup report in 2012, there are some 113.3 procedures performed per 100,000 inhabitants on muscles and tendons in inpatient facilities of US. Moreover, the increasing healthcare expenditure and the unavailability of substitutes for the soft tissue is also acting as a fuel to the market and is expected to drive the market within the forecast period of 2016-2026. However, the high cost of the surgical procedures, strict regulations and the lack of reimbursement can be the restraint for the growth of this market.
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Suture Anchor Device Market: Segmentation
The Suture anchor device market is classified on the basis of indication, product type, end user and geography.
Based on the Indication, the global Suture anchor device market is segmented into the following:
Based on product type, the global Suture anchor device market is segmented into the following:
Based on end user, the global Suture anchor device market is segmented into the following:
Acute care centers
Ambulatory Surgical Centers
Suture Anchor Device Market: Overview
The ongoing researches on improving the quality of material and technology of absorbable suture anchor device are driving the market. The advantages of using absorbable suture anchor device are as they have better-fixing strength as compared to the Non-absorbable products. They dissolve over time, based on the nature of the material. The introduction of all- suture anchors (Biomet) and PEEK CF (Parcus Medical) anchors in 2010 and their popularity among the practitioners has shown a significant growth in the market. The hospitals end user segment is expected to hold the highest market share in the global market for suture anchor device market.
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Suture Anchor Device Market: Regional Overview
Region wise, the global suture anchor market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America dominated the global market for suture anchor device due to good reimbursement policies for surgical procedures followed by Europe. The increasing awareness and the growing adoption of these device by the practitioners in APEJ is also driving the market.
Market: Key Players
Some of the key players in global suture anchor market include Biomet, Tornior, Wright Medical, Arthrex, ConMed, Smith and Nephew, Depuy Synthes, Parcus Medical and others.
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