Orthopedic soft tissue repair market was valued at over USD 5.0 billion in 2015 and is anticipated to show lucrative growth over the forecast period. Target injuries result from a number of causes. The primary cause is sports injuries, which are estimated to contribute to a great extent toward growth.
Sport related injuries are the most common reasons leading to muscle damage. Athletes tend to get their anterior cruciate ligament (ACL) affected during sports or any sort of physical activity. As a result, increasing prevalence of sport related injuries is expected to drive the market growth. Athletes participating in soccer or baseball games are likely to get affected by such type of injury. Again, meniscal tear is also a connective tissue injury, which is commonly caused among the youth.
Geriatric population also plays a significant role pertaining to the growth of the market. Aging process results in significant changes in the skeletal and neuromuscular systems, leading to arthritis, weak ligament, and ACL tear. More than 50% of geriatric population is affected with symptomatic and asymptomatic tears. With an increasing aging population, wear and tear of muscles grow owing to weakening of muscles. As a result of this, geriatric population base is projected to contribute towards the growth of the market.
U.S. Orthopedic Soft Tissue Repair Market, By Injury Location, 2013 - 2024 (USD Million)
Increase in obese population is also considered as an important factor accentuating the growth of this market. Obesity in aging population has been reported to directly increase the risk of degenerative bone disorders, such as osteoarthritis and osteoporosis, further resulting in fracture and target injury owing to the extra pressure exerted on the joints. Hence, increasing number of people suffering from osteoporosis is expected to generate demand for the market.
Among the procedure segment, cruciate ligaments repair accounted for the largest revenue of around USD 1.9 billion in 2015 owing to its greater applicability in connective tissue knee injury. ACL reconstruction is a type of surgery that involves reconstruction of the ligament in the center of one’s knee with a graft. In the U.S., approximately 100,000 to 200,000 ACL injuries are registered each year. Cruciate ligaments repair is also the fastest growing segment, since; it is most commonly treated upon the athletes as they are mostly affected by ACL injuries owing to sport related activities.
Knee injuries are one of the most common musculoskeletal disorders prevalent among people. Again, this is the frequently affected injury location resulting from sport games among the athletes. Meniscal tear is a common connective tissue knee injury which is increasingly caused among athletes. Though it is related to traumatic events, it can also arise as a result of cartilage degeneration process in osteoarthritis. Such injuries also commonly caused among the geriatric population owing to weakening of muscles. As a result of these factors, knee segment is considered as the largest revenue contributor with a market share of over 39% in 2015.
North America held the largest share of the orthopedic soft tissue repair market in 2015 owing to its rising healthcare expenditure. Surgical reconstruction of connecting tissues is costly. Hence, the healthcare expenditure for the U.S. rising 5.3% in 2014 is expected to have a positive impact on the soft tissue reconstruction surgery pertaining to its affordability factor.
Asia Pacific is projected to show an attractive CAGR of over 8.0% over the forecast period. This is mainly due to the fact that the prevalence of musculoskeletal disorders is increasing in India. Moreover, rising disposable income in this region is also anticipated to contribute to market growth.
Key players include Stryker, Arthrex, Inc., Zimmer Biomet, DePuy Synthes, Inc, CONMED Corporation, and Smith & Nephew plc. The companies are focusing on mergers and acquisitions with an aim to enhance their product portfolio. For instance, Zimmer Biomet acquired Cayenne Medical, which was involved in advanced soft tissue repair and reconstruction solutions for shoulder, knee, and extremities. Moreover, companies are involving into geographical expansions in order to cater to the untargeted population related to soft tissue repair devices.
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