An artificial ligament work as a supporting material that is used to change a torn ligament, such as the anterior cruciate ligament. Artificial ligaments are a material which is made up of a polymer, such as a polypropylene, polyacrylonitrile fiber, and polyethylene terephthalate. However, artificial tendon works as a temporary replacement while a new tendon sheath develop. This sheath produces a tremendous gliding canal, making it possible to retrieve tendon motion through scar tissue.
Increasing prevalence of sports injuries is a major factor driving the growth of the artificial ligaments and tendons market. For instance, according to the statistics published by the Centers for Disease Control and Prevention (CDC), in November 2016, average annual sports injury estimated 8.6 million per year in the United States. High incidences of sports injuries will lead to the wide use of artificial ligaments and tendons equipment & supplies over the forecast period.
Furthermore, the increase in awareness amongst the patients and healthcare professionals pertinent to the associated benefits with the use of artificial ligaments and tendons is expected to drive the market growth over the forecast period. Supportive government initiatives and the introduction of technologically advanced products are some of the factors propelling the market growth in the coming years. For instance, growing adoption of minimally invasive surgical procedures is anticipated to boost the market growth.
In addition, orthobiologics are used to improve the healing of injured muscles and fractured bones, ligaments, and tendons and are derived from substances that are naturally found in the body. The increase in adoption of orthobiologics is expected to accelerate the artificial ligaments and tendons market growth..
Europe is considered to be the largest market owing to increase in a number of government initiatives and sport-related injuries, followed by North America and the Asia Pacific. According to the Centre for Health Protection of the Department of Health in 2016, each year 14% of the European people suffer by sports injuries. This indicates the high demand for artificial ligaments and tendons products in this region. Asia Pacific regional market is expected to witness lucrative growth in coming years. Supportive government initiatives to encourage sports, increase in sports-related injuries and growing disposable income are attributing towards this lucrative growth.
Some of the major market players in the artificial ligaments and tendons market are Mathys AG Bettlach, FX Solutions, LARS, Cousin Biotech, Neoligaments, Orthomed S.A.S, and Shanghai PINE&POWER Biotech. The industry participants are focusing on strategies such as merger & acquisitions, new product development, and geographic expansion to sustain the competition.
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