The soft tissue repair market is anticipated to grow at a CAGR of more than 9% from 2017 to 2025. Development in this industry is ascribed to the increasing occurrence of delicate tissue wounds, growing healthcare expenses, and absence of substitutes for soft tissue repair surgery. The rising geriatric population, obesity rate, and geographic expansion in developing countries are projected to augment growth.
However, the rising expense of surgical methods, absence of financial repayment options, and stringent administrative requirements are expected to limit market growth to a certain extent. Rising incidences of sports related injuries and healthcare services consumption are projected to play a significant role in fuelling the market growth over the years. Strategic collaborations, mergers & acquisitions, broadening distribution network, and technological innovations are key techniques used by organizations to improve their penetration.
Based on the product type the market is segmented into tissue mesh and fixation products. Fixation products are segmented into interference screws, suture anchors and other fixation devices; whereas tissue patch/mesh is divided into biological and synthetic mesh.
The tissue fixation segment is anticipated to be the most promising market because of its ability to preserve tissue from decomposing and improving mechanical strength of tissues. The rising participation in sports, increasing frequencies of soft tissue injuries among aging population, and increased interest for good quality of life are key components projected to drive the market demand.
Increasing disposable income and improved standard of living among others in developing economies is projected to augment industry demand. Growing incidence of hernia, breast cancer, large number of treatment option for aging, and negligibly obtrusive techniques is anticipated to drive demand for these services.
Orthopedic soft tissue repair market is anticipated to grow on account of the rising interest for insignificantly obtrusive methodology. Knee replacement surgery has observed a significant growth on account of its successful results. Lesser disturbance of muscles and tendons are involved in knee replacement surgery which not only reduces the risk but also makes the reconstruction procedure more natural.
ReliaTack articulating reloadable fixation device has proved to be one of the most amazing breakthrough in hernia repair. It's articulating technique, interchangeable reloads, and screw-like tack structure are unique in kind.
Skeletally immature patients often observe tear in connective tissue and ligaments which can be cured through treatments offered under this industry. Furthermore, rising awareness regarding the development, commercialization, and promotion of advanced platelet-rich plasma devices would help the industry grow at a high CAGR over the forecast period.
North America contributed towards the largest business share of more than USD 2 billion in 2016 on account of large investments for advanced healthcare infrastructure. Advanced healthcare techniques have led to progressions in soft tissue repair surgeries that include minimally obtrusive methods. Additionally, the dominant players are headquartered in the U.S., which is anticipated to foster industry demand in North America.
Asia Pacific is foreseen to witness highest CAGR over the projected period attributable to greater demand for advanced medicinal instruments and rising geriatric population in Japan, China, and India.
Emerging economies such as Latin America are projected to record significant growth amid the forecast period. Nations such as India, China, and Brazil will significantly drive development due to rising investments by public & private companies to offer enhanced healthcare benefits in these nations.
End- Use Landscape:
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the concerned market over the coming years. Few of the major consumers of this market are Cleveland Clinic, Beckers Hospital, and Immediate Breast Reconstruction Clinic.
The major players of the soft tissue repair market includes C.R Bard, Inc., Smith & Nephew plc, Wright Medical Group, Inc., Lifecell Corporation, Ethicon US, LLC., Arthrex, Inc., Lifenet Health, Inc., Medtronic plc, Integra Lifesciences Corporation and American Medical Systems Inc.
In Aug 2013, Smith & Nephew, an organization dealing with the development of sports medicine and soft tissue repair items launched the Rotator Cuff Repair device which has bio inductive implant. The system is designed to induce the formation of new tendonous tissues; it can be used in smaller than usual open and arthroscopic techniques.
In Oct 2014, Covidien, introduced ReliaTack, which is a minimally invasive hernia repair device. This device is helpful in reducing the probability of the mesh being pushed away from the operative sides.
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