Collateral Ligament Stabilizer System Market Size, Share & Trends Analysis Report By Ligament (MCL, LCL), By Injury Type (Grade 1, Grade 2, Grade 3), By End-use (Hospitals, Orthopedic Clinics), And Segment Forecasts, 2018 - 2025

Report Overview

The global collateral ligament stabilizer system market size was estimated at USD 1.31 billion in 2016 and is expected to grow at a CAGR of 6.7% over the forecast period. The rising geriatric population is expected to boost the demand for Collateral Ligament Stabilizer Systems (CLSS) in the coming years.

According to a report published by the U.S. Census Bureau, the number of people aged 65 and older in the U.S. was approximately 46.2 million in 2014 and is expected to reach over 98 million by 2060. The perpetual rise in the elderly population is anticipated to result in an increase in the prevalence of arthritis and joint disorders as knee ligaments become weak and more prone to injury. This factor is expected to drive the demand for these systems over the forecast period.

In addition, a rise in the number of sport-related trauma is anticipated to drive industry growth. The most common sports injuries are muscle sprains & strains, ligament tear & trauma, dislocated joints, and fractured bones.

Moreover, an increase in the number of road accidents is also considered one of the highest impact rendering factors, which propels the demand for CLSS. According to the World Health Organization (WHO), every year nearly 10 million people are injured or disabled due to road accidents. Thus, a rise in the number of road accidents leads to an increase in demand for knee braces and support for pain management, thereby increasing the adoption of these products.

Ligament Insights

The Medial Collateral Ligament (MCL) segment accounted for around 58.00% of the market in 2016. The presence of eminent market players involved in the development of new products and increased demand for these products in developing regions, such as Latin America and the Asia Pacific, are some of the factors responsible for the growth of this segment.

In addition, impairment of the MCL occurs frequently in athletes, especially in those who are involved in direct contact sports that require sudden changes in speed and direction or they occur when a strong force is applied to the knee, which the ligament is unable to withstand, causing the ligament to overstretch and tear. The MCL segment is expected to witness lucrative growth owing to the increase in the number of such MCL injuries.

The Lateral Collateral Ligament (LCL) segment is expected to grow at a steady rate during the forecast period. The demand for LCL stabilizers is expected to grow due to their increased adoption in homecare, sports, and emergency medicine owing to their associated benefits, such as greater comfort and favorable reimbursement policies. These factors are anticipated to keep the demand for LCL stabilizers steady over the forecast period.

The LCL segment is expected to grow at a CAGR of 5.6% owing to the development of new products in the market. Injury of LCL is common as it is located on the outside of the knee and is more likely to cause knee instability. These systems are necessary to provide stability to the knee in case of knee injuries. These factors are expected to boost the revenue generation of this segment.

Injury Type Insights

The grade 3 injuries segment held the largest share in 2016. Owing to the increase in the number of these types of injuries, the demand and usage of CLSS are increasing. Treatment of grade 3 injury involves surgical interventions and severe tears may require replacing the MCL or LCL.

The dynamic growth of the grade 2 injury segment can be attributed to the increase in the number of sports trauma, wherein there is a partial ligament tear, which makes the ligament lose. A rise in the number of grade 2 injuries is responsible for the growth of this segment, which is expected to provide this segment with growth opportunities.

Medical practitioners recommend knee supports and stabilizers to patients instead of knee surgeries. Owing to these factors, the market for grade 2 injury stabilizers is expected to grow consistently.

In grade 1 injuries, the ligament is slightly stretched. They do not require surgical intervention and can be treated effectively with conservative therapies. Most often grade 1 injuries go unreported as they heal quickly, mostly within a span of two to three weeks. Thus, the use of CLSS products is low in grade 1 injuries in comparison to other injuries. As a result, the grade 1 injury segment is expected to grow at a steady rate.

End-use Insights

Hospitals accounted for a considerable share of the CLSS industry. Hospitals provide a large array of treatment options pertaining to various injuries. They also provide quick reimbursements for knee hip and other surgeries under the Medicare program. Thus, the hospital segment is expected to grow steadily over the forecast period.

Orthopedic Clinics dominated the end-use segment of the CLSS industry owing to the increasing establishment of orthopedic clinics in developed regions such as North America and Europe. In addition, an increase in the prevalence of musculoskeletal diseases & other chronic diseases and a rise in the number of trauma accidents are also factors contributing to the largest share held by this segment.

The demand for braces and supports is growing due to an increase in the number of patients visiting orthopedic clinics for the treatment of osteoarthritis, ankle arthritis, osteoporosis, cartilage tears, strains, and fractures. An increase in the number of patients opting for orthopedic surgeries has led to a significant rise in the number of such products.

The other segment includes retail shops, online pharmacies, physiotherapy clinics, and sports academies and is anticipated to grow at a lucrative rate over the forecast period. Physiotherapy clinics provide massage and recommend exercise for healing injuries. In order to hasten the recovery process, these clinics also advise patients to use a collateral ligament stabilizer system or knee braces. Athletic injuries are common in sports academies, gyms, and health clubs, which are treated by using various orthopedic braces and support devices. The increasing preference of patients for e-commerce is anticipated to propel the growth of this segment.

Regional Insights

North America held the dominant share of the collateral ligament stabilizer system market and was valued at USD 565 million in 2016. This growth can be attributed to the rising incidence of sports injuries in this region. The rise in the number of patients affected by these injuries is increasing the demand for CLSS, thereby boosting the growth of this region.

In addition, the increasing geriatric population and a well-developed reimbursement structure are factors contributing to the overall growth of the North America CLSS market.

The Asia Pacific is anticipated to grow at an exponential rate of 7.9% due to the high percentage of the geriatric population, which indicates a substantial socioeconomic burden in this region. According to The World Bank, the population in the Asia Pacific is aging rapidly. More than 211 million people aged 65 years and older were living in East Asia and the Pacific in 2010. This is a major factor anticipated to propel the demand for CLSS in the Asia Pacific during the forecast period.

Additionally, a high number of untapped opportunities, an increase in the prevalence of chronic conditions such as osteoarthritis, a rise in the number of accident & trauma cases, and continuous R&D activities by key market players for producing innovative products are expected to fuel the market growth over the forecast period. India, Japan, and China are major contributors to growth in the Asia Pacific region.

Collateral Ligament Stabilizer System Market Share Insights

The CLSS market is growing due to the increase in collateral ligament impairments and the rise in demand for rapid and better treatment for knee injuries. Owing to the high demand, many local and international medical device manufacturers are inclined to invest in this business.

Some of the key players in this market are Ossur, DJO Global, DePuy Synthes, Bauerfeind, and DeRoyal Industries, Inc. The competition in the market has resulted in improvements in existing product lines and the development of new products, thereby providing increased patient comfort and safety.

Major players in the industry employ various strategies, such as mergers and acquisitions, to enhance market penetration. For instance, in August 2013, DeRoyal Industries, Inc. entered into a partnership agreement with the third-party logistics company (3PL), Seabourne Group, Ltd., wherein DeRoyal Industries, Inc. will use Seabourne’s warehouse in the Netherlands to improve their supply chain and expand their distribution network.

The rise in the number of industry players is anticipated to increase the competition over the forecast period. Therefore, competitive rivalry in the industry is expected to be high in the near future.

Collateral Ligament Stabilizer System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global collateral ligament stabilizer system market on the basis of ligament type, injury type, end use, and region:

• Ligament Outlook (Revenue, USD Million, 2014 - 2025)

  • Medial Collateral Ligament (MCL)

  • Lateral Collateral Ligament (LCL)

• Injury Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Grade 1

  • Grade 2

  • Grade 3

• End-Use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospitals

  • Orthopedic Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa