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Soft Tissue Repair Market to Attain a Value of US$ 7,391.9 Million By 2024
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On the basis of application, the market is segmented into breast reconstruction, hernia repair, vaginal sling, dental problems, dermatology, orthopedics, and others. Orthopedics segment is further sub-segmented into dural repair, sports medication and tendon reinforcement, and others. Among these, the orthopedics segment is anticipated to remain dominant throughout the forecast period, and is projected to account for around 20.1% share of the total global soft tissue repair market revenue by 2024. On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers, and clinics. Among these, hospitals was the largest segment with 55.4% revenue contribution to the total global market in 2015. Ambulatory surgical centers is projected to be the second-most attractive segment in the global soft tissue repair market by 2015 end.
Market growth is primarily driven by factors such as rising incidence of surgical procedures such as knee reconstruction, shoulder reconstruction, hip reconstruction, and elbow reconstruction, which is fueling revenue growth of the global soft tissue repair market. Also, increasing demand for biologics in soft tissue repair procedure such as mesh/matrix, which are extensively used in the U.S. for breast reconstruction and other reconstruction procedures is expected to fuel revenue growth of the global soft tissue repair market over the forecast period.
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However, lack of appropriate knowledge regarding tissue repair products among physicians and surgeons may lead to misuse and ineffective use of products, resulting in unsatisfactory patient outcomes, which is expected to hamper growth of the global soft tissue repair market over the forecast period.
The report covers global and regional trends along with analysis of the market potential. North America accounted for over 47.1% revenue share of the total soft tissue repair market in 2015; whereas Europe registered a healthy CAGR of 5.7% due to growing number of sports and other activity-related injuries and increasing healthcare awareness.
Global soft tissue repair market report begins with an overview of the global market in terms of value. This section includes detailed analysis of key trends, drivers, restraints, and opportunities. Impact analysis of key growth drivers and restraints based on the weighted average of each one of these factors in a model-based approach is included in the market report to better equip clients with crystal clear decision-making insights.
Key players of the global soft tissue repair market include B. Braun Melsungen AG, Baxter, C. R. Bard, Inc., Johnson & Johnson Private Limited, Stryker, Medtronic, and others.
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