Soft Tissue Repair Market Overview
The global soft tissue repair market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 6.2% during the forecast period (2018-2023).
Soft tissue injuries involve damage done to tendons, muscles, and ligaments, which results in inflammation and pain. The soft tissue repair procedure is characterized by substituting the damaged or injured tissues with healthy ones.
The increasing obese population across the globe, coupled with the rising injuries related to sports are some of the key growth stimulants of the soft tissue repair market. The launch of novel products, especially in emerging nations are likely to create new growth opportunities in the global market. With the growth in the geriatric population and the rising number of orthopedic procedures, the market is estimated to flourish. Moreover, the surging demand for biologics in breast reconstruction owing to rising prevalence of breast cancer is anticipated to contribute to the market.
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On the contrary, the dearth of reimbursement policies and the high cost of such procedures are likely to vitiate the market growth. The high availability of alternatives like orthopedic manual therapy, physiotherapy, corticosteroid injections, and non-steroidal anti-inflammatory drugs creams or tablets are highly restricting the market growth.
Global Soft Tissue Repair Market: Segmental Analysis
The soft tissue repair market has been segmented on the basis of application, product, and end user.
By soft tissue repair market, by product is segmented into tissue patch/match, fixation products, laparoscopic instrument, and others. Of these products, the tissue patch/match segment will remain dominant in the foreseeable future, mainly due to the several applications of the segment in hernia repair, head and neck repair, dental repair, breast reconstruction, and others. The surging use of tissue patches or meshes like synthetic mesh and synthetic mesh will supplement the market growth in the segment.
Based on the application, the market consists of skin repair, orthopedic surgery, vaginal sling repair, hernia repair, cardiovascular surgery, dental reconstruction, breast reconstruction, and others. Of these applications, the hernia repair segment is likely to gain huge attention due to the surging cases of hernia across the globe. In the U.S., for instance, thousands of incisional hernia repair surgeries are reported to be performed every year.
The end user’s segment comprises clinics, hospitals, research & academic institutes, and others. Of these, the hospital’s segment will gain prominence due to the availability of advanced medical devices and favorable reimbursement policies.
Soft Tissue Repair Market Regional Frontiers
Geographically, the soft tissue repair market spans across Europe, Asia Pacific, America, and the Middle East & Africa.
Considering the global scenario, the soft tissue repair market is dominated by America and is predicted to retain its position. The existence of major market players, surging expenditure on healthcare, and the ever-increasing aging population are some of the key growth stimulants of the regional market. The presence of well-established healthcare infrastructure coupled with the soaring awareness related to the potential benefits of soft tissue repair and the products used in the procedure is anticipated to encourage the regional market’s growth. Europe acquired the second spot in 2017, mainly due to the high availability of funding opportunities in research and innovation, coupled with the robust R&D sector in the region.
Meanwhile, the Asia Pacific is likely to exhibit considerable growth during the forecast period, mainly due to the surging demand for medical technology, rising geriatric population, and increasing awareness related to health. With the surging incidences of orthopedic diseases, especially in Japan, India, and Australia, the market is expected to gain thrust. In this region, the market in China will expand at a significant pace, owing to the surging occurrence of traumatic injuries, resulting from sports activities. The rapid development of the medical device sector and rising product availability in this country will increase the adoption of the market in the years to come.
Soft Tissue Repair Industry Updates
September 2019: MedShape, Inc., one of the leading industry players in orthopedic devices, has recently declared the launch of the DynaNail Mini Fusion System, which features the company’s patented superelastic nickel-titanium (NiTiNOL) technology. The system is considered the first orthopedic device, specifically designed for subtalar fusion, offering maintained active compression right after surgery in order to promote joint stability and healing.
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Soft Tissue Repair Market Competitive Dashboard
The top players operating in the soft tissue repair market include C.R. Bard, Inc., Stryker Corporation, Integra LifeScience Corporation, Arthrex, Inc., Smith & Nephew plc, Depuy Synthes, Athersys, Inc., Allergan Plc., Medtronic Plc., CryoLife, Inc., Zimmer Biomet Holdings, Inc., Organogenesis Inc., American Medical Systems Inc., Lifenet Health, Inc., Wright Medical Group, Inc., U.S. Stem Cell, Inc., Isto Biologics, and others.
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