Orthopedic soft tissue repair devices market size to grow by USD 5,633.11 million from 2022 to 2027; The rising geriatric population across the globe will drive growth - Technavio
NEW YORK, March 24, 2023 /PRNewswire/ -- Technavio categorizes the global orthopedic soft tissue repair devices market size as estimated to increase by USD 5,633.11 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 11.05% during the forecast period. The growth of the market is driven by the rising geriatric population across the globe. In general, older adults heal more slowly than younger ones. Older people typically have low overall strength, flexibility, and balance compared to younger people. As a result, it is more challenging to make up for injury limitations and to resume daily activities. According to the Population Reference Bureau, by 2060, there will be 95 million Americans who are 65 years or older, up from an estimated 52 million in 2018. It is anticipated that the proportion of people 65 years and older will increase from 16% to 23%. As a result, there is a growing demand for both acute and long-term healthcare services, which is anticipated to drive the growth of the global orthopedic soft tissue repair devices market during the forecast period. Discover some insights on the market size historic period (2017 to 2021) and Forecast period (2023 to 2027) before buying the full report - Request a sample report
Global Orthopedic Soft Tissue Repair Devices Market - Segmentation Assessment
Technavio has segmented the market based on product type (fixation devices, tissue scaffold, and cell therapy-based), and end-user (hospitals and clinics, ambulatory surgical centers, and physician's offices).
The market growth in the fixation devices segment will be significant during the forecast period. A fixation device is made of artificial material and its purpose is to replace the bone structure. This helps fix and support the bone as it heals from surgery or injury. Immobilization devices can be used for a variety of conditions, including fractures and sports injuries. Musculoskeletal injuries are the primary application for this type of fixation device. Some of the fixation devices are suture anchors and interference screws. Such factors will increase the growth of the segment over the forecast period.
By geography, the global orthopedic soft tissue repair devices market is segmented into North America, Europe, Asia, and Rest of World (ROW). The report provides actionable insights and estimates the contribution of all regions to the growth of the global orthopedic soft tissue repair devices market.
North America is estimated to contribute 45% to the growth of the global market during the forecast period. North America will bring a significant revenue share to the market in 2022. This is due to increased cases of trauma and knee arthroscopies in the region, as well as an increased number of amputations and sports injuries. Rising healthcare spending and investments in the infrastructure of the sector are also contributing significantly to the expansion of the region, as the cost of expensive orthopedic soft tissue repair surgeries can be reduced. Such factors are expected to boost the demand for orthopedic-related treatments, thus propelling the growth of the North American orthopedic soft tissue repair devices market during the forecast period.
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Global Orthopedic soft tissue repair devices market – Vendor Analysis
Vendor Landscape - The global orthopedic soft tissue repair devices market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer orthopedic soft tissue repair devices in the market are Arthrex Inc., Becton Dickinson and Co., Boston Scientific Corp., Conmed Corp., Integra Lifesciences Holdings Corp., Johnson and Johnson, JRF Ortho, LifeCell International Pvt. Ltd., LifeNet Health Inc., Medtronic Plc, MTF Biologics, RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., Tissue Regenix Group Plc, Wright Medical Group NV, Zimmer Biomet Holdings Inc., Acera Surgical Inc., AlloSource, and Amplitude Surgical and others.
A few prominent vendors that offer global orthopedic soft tissue repair devices in the market include:
Boston Scientific Corp.: The company offers orthopedic soft tissue repair devices such as ACLip.
Conmed Corp.: The company offers orthopedic soft tissue repair devices such as FiberTak button, Knotless FiberTak soft anchor, and Corkscrew suture anchors.
Integra Lifesciences Holdings Corp.: The company offers orthopedic soft tissue repair devices such as XenMatrix AB Surgical Graft.
Johnson and Johnson: The company offers orthopedic soft tissue repair devices such as Fixate suturing devices, tissue bands, and Clik anchors.
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Global Orthopedic Soft Tissue Repair Devices Market – Market Dynamics
Key Trends - The growing use of orthopedic devices in emerging economies is a significant trend shaping growth. In the next few years, soft tissue repair products will become more widely used in emerging countries of Asia and ROW. Vendors are expected to witness many growth opportunities in such countries. This is due to the fact that the markets in these countries are experiencing a significant patent base for targeted indications (cardiovascular, orthopedics, general and gynecological diseases), rising health awareness, increasing healthcare spending, and growth in medical tourism. Also, medical procedures in these developing countries are less expensive compared to that in developed nations. Therefore, such factors are expected to drive the growth of the market in emerging economies, over the forecast period.
Major challenges - The lack of availability of skilled personnel for the use of orthopedic soft tissue repair devices is a major challenge impeding the market growth. One of the major obstacles in the market is the shortage of qualified surgeons in both developed and developing countries. Technological developments in this field are rapidly changing the technology landscape and the areas in which soft tissue repair products are used. This requires physicians and other medical professionals to develop the skills necessary to use soft tissue repair products such as allografts, xenografts, and synthetic meshes. As a result, medical professionals in hospitals and clinics are reluctant to close wounds with cutting-edge surgical products. Therefore, factors like these will pose a major challenge to the growth of the global market during the forecast period.
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What are the key data covered in this Orthopedic Soft Tissue Repair Devices Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the orthopedic soft tissue repair devices market between 2023 and 2027
Precise estimation of the orthopedic soft tissue repair devices market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the orthopedic soft tissue repair devices market across North America, Europe, Asia, and Rest of World (ROW)
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of orthopedic soft tissue repair devices market vendors
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The orthopedic device market size is expected to increase by USD 12.11 billion from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 3.85%. The market is segmented by application (spine, knee, hip, extremities, and others), product (orthopedic implants and support devices and orthobiologics), and geography (North America, Europe, Asia, and Rest of World (ROW)).
The orthopedic implants market size is expected to increase by USD 15.45 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.73%. The market is segmented by product (Joint reconstruction implants, Spinal implants, and Craniomaxillofacial implants), and geography (North America, Europe, Asia, and Rest of World (ROW)).
Orthopedic Soft Tissue Repair Devices Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 11.05%
Market growth 2023-2027
USD 5,633.11 million
YoY growth 2022-2023 (%)
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution
North America at 45%
US, Germany, France, UK, and Japan, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Arthrex Inc., Becton Dickinson and Co., Boston Scientific Corp., Conmed Corp., Integra Lifesciences Holdings Corp., Johnson and Johnson, JRF Ortho, LifeCell International Pvt. Ltd., LifeNet Health Inc., Medtronic Plc, MTF Biologics, RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., Tissue Regenix Group Plc, Wright Medical Group NV, Zimmer Biomet Holdings Inc., Acera Surgical Inc., AlloSource, and Amplitude Surgical
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
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Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global orthopedic soft tissue repair devices market 2017 - 2021
4.2 Product type segment analysis 2017 - 2021
4.3 End-user segment analysis 2017 - 2021
4.4 Geography segment analysis 2017 - 2021
4.5 Country segment analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Product Type
6.1 Market segments
6.2 Comparison by Product Type
6.3 Fixation devices - Market size and forecast 2022-2027
6.4 Tissue scaffold - Market size and forecast 2022-2027
6.5 Cell therapy-based - Market size and forecast 2022-2027
6.6 Market opportunity by Product Type
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Hospitals and clinics - Market size and forecast 2022-2027
7.4 Ambulatory surgical centers - Market size and forecast 2022-2027
7.5 Physicians offices - Market size and forecast 2022-2027
7.6 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 Asia - Market size and forecast 2022-2027
9.6 Rest of World (ROW) - Market size and forecast 2022-2027
9.7 US - Market size and forecast 2022-2027
9.8 Germany - Market size and forecast 2022-2027
9.9 Japan - Market size and forecast 2022-2027
9.10 France - Market size and forecast 2022-2027
9.11 UK - Market size and forecast 2022-2027
9.12 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Amplitude Surgical
12.4 Arthrex Inc.
12.5 Becton Dickinson and Co.
12.6 Boston Scientific Corp.
12.7 Conmed Corp.
12.8 Integra Lifesciences Holdings Corp.
12.9 Johnson and Johnson
12.10 LifeNet Health Inc.
12.11 Medtronic Plc
12.12 MTF Biologics
12.13 RTI Surgical Inc.
12.14 Smith and Nephew plc
12.15 Stryker Corp.
12.16 Wright Medical Group NV
12.17 Zimmer Biomet Holdings Inc.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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