May 25, 2022 11:04 ET | Source: STRATEGIC MARKET RESEARCH LLP STRATEGIC MARKET RESEARCH LLP
New York, United States, May 25, 2022 (GLOBE NEWSWIRE) — A group of research professionals from Strategic Market Research have stated that the Soft Tissue Repair Market was worth USD 11.82 billion in 2020 and is likely to reach a landmark of nearly USD 22.84 billion in 2030 with a robust CAGR of 6.81%.
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The segmentation mapping of the latest report published by Strategic Market Research on the Soft Tissue Repair Market is as follows:
Based on Product
Based on Application
Based on the End-user
Based on Regions
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Soft Tissue Repair global market is anticipated to reach a market value of USD 22.84 billion by 2030 from USD 11.82 billion in 2020, at a CAGR of 6.81 % during the forecasted period. The increase in the geriatric population, the surge in sports-related injuries, the growth in cosmetic surgeries, and the increase in severe trauma injuries are the significant factors driving the market growth. Pressure ulcers, venous stasis ulcers, & other chronic lesions are mostly found in the geriatric population. Thus, with the rise in the elderly population, the market is expected to augment rapidly in the upcoming years. A journal study regarding Orthopedic Surgery discovered that a rotator cuff injury affects more than 40 % of the global population aged 60 and above. Hence, with the rise in the geriatric population, there will be an increase in the demand for orthopedic surgeries, which will drive the market growth exponentially.
By Product, the ‘Tissue Patch/Mesh’ market segment held the largest share of the Soft Tissue Repair market.
Based on Product, the ‘Tissue Patch/Mesh’ market segment held the maximum portion of the total market share of around 91.9%. The rise in the usage of synthetic Mesh in different orthopedic procedures due to its capability to minimize the surgery time is the key reason behind the dominance of this market segment. According to the Arthritis Foundation, around 30.8 million adults in the United States were diagnosed with arthritis in 2019, and approximately 14 million people in the United States were diagnosed with symptomatic knee osteoarthritis.
By Application, the ‘Hernia repair’ market segment possessed the largest market share.
In terms of Application, the Hernia repair market segment held the biggest share of the market at around 26.5 % in 2020, due to the increasing prevalence of hernia cases, sports injuries, and various lifestyle conditions such as osteoporosis, arthritis, obesity, etc. All these factors contribute to the rise in the number of soft tissue repair processes and procedures conducted all across the world. As per the data from FDA, more than around 800,000 hernia repair operations are conducted in the United States yearly. Hence, due to the increased frequency of these surgical operations, hernia repair devices are in great demand.
By End-User, the ‘Hospitals’ dominated the entire Soft Tissue Repair Market in 2020.
Based on End Users, the entire market has been classified into Hospitals, Clinics and Others. Among these, the Hospital segment held the highest market share of approximately 93.9% in 2020. This is mainly because of the rise in elderly population and the occurrence of numerous ailments.
North America held the largest portion of the Soft Tissue Repair Market.
On a regional basis, North America has the largest market share of approximately 43.5% of the Soft Tissue Repair Market. Moreover, it is estimated to expand at the fastest growth rate over the forecasted period. The existence of an advanced healthcare system in the region, as well as the growing number of surgical operations, the surge in the adoption of innovative goods, and the presence of numerous dominant market players in the United States, are the key factors, propelling the growth of the market in this region.
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The leading players covered in the Global Soft Tissue Repair Market report are:
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Recent Developments related to Global Soft Tissue Repair Market
· In December 2020, ACell was purchased for around USD 300 Mn by a leading medical device manufacturer Integra Lifesciences . The deal intends to boost the tissue regeneration capabilities and the total portfolio of tissue regeneration technologies of Integra Lifesciences.
· In April 2020, The ClearGuard LE Endoscopic Soft Tissue Release System was introduced in the United States by In2Bones, a US-based designer, manufacturer, and distributor of medical devices for the treatment of a wide range of disorders and injuries. This ClearGuard LE Endoscopic Soft Tissue Release Technology offers to orthopedic and podiatric experts for easy-to-use, reproducible, and cost-effective system.
· In February 2020, Baxter International got the FDA 510(k) approval for its Peri-Strips Dry with Veritas Collagen Matrix Secure Grip. The product is a total reinforcing agent primarily used to prevent bleeding during bariatric and other surgical operations.
Electrosurgery Devices Market
The report on “Electrosurgery Devices Market” Insights & Forecast 2030, published by Strategic Market Research elucidates a clear understanding of the pivotal market insights. The market was valued at 3.013 billion in 2020, and it’s expected to rise to a benchmark of 4.947 billion by 2030 with a robust CAGR of 5.073%. The surge in the overall surgical procedures, the increase in the demand for minimally invasive operations, the expanding number of cosmetic, medical, and age-related surgical processes, rise in the number of ambulatory surgery centres, increase in the frequency of chronic diseases, and technical improvements are some of the most crucial factors that are fostering the market growth. The dominant players operating in the market are Boston Scientific, Smith and Nephew, B. Braun Melsungen AG, Parkell, Covidien plc, Kirwan Surgical Products LLC, Olympus Corporation, ATMOS, Bovie Medical Corporation, and Ethicon.
Orthopedic Biomaterials Market
The report on “Orthopedic Biomaterials Market” Insights & Forecast 2030 published by Strategic Market Research asserts a substantial understanding regarding the pivotal market insights. The market was valued at 14.56 billion in 2020 and is assumed to reach 39.11 billion by 2030 with a decent CAGR of 10.36%. The surge in the geriatric population, the launching of various cartilage repair processes and spinal cord injury treatments, rise in the usage of biomaterials in the health care industry and increasing prevalence of musculoskeletal ailments & chronic skeletal muscle disorders are the key drivers augmenting the overall growth of the market. The players in the Global Orthopedic Biomaterials Market are B. Braun Melsungen AG, CONMED Corp., Evonik Industries AG, Medtronic Plc., Smith & Nephew Plc., Stryker Corp., Victrex, Zimmer Biomet Holdings Inc., Globus Medical, Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., Invibio Ltd., and DePuy Synthes.
Surgical Sutures Market
The report on “Surgical Sutures Market” Insights & Forecast 2030, published by Strategic Market Research delineates a concrete understanding of the key market insights. The market was valued at 3.81 billion in 2020 and is predicted to reach 6.97 billion by 2030 with a CAGR of 6.23 %. The increasing geriatric population, surge in disposable income, rise in the number of cosmetic treatments and technological enhancements are the significant market drivers. Major players operating in the Global Surgical Sutures Market are B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic plc, Ethicon Inc. (Johnson & Johnson), Teleflex Incorporated, Smith & Nephew, CONMED Corporation, Internacional Farmacéutica S.A. de C.V., DemeTech Corporation, Peters Surgical, Sutures India, EndoEvolution, LLC, Surgical Specialties Corporation, and Mellon Medical B.V.
Dental Biomaterials Market
The report on “Dental Biomaterials Market” Insights & Forecast 2030, published by Strategic Market Research explains the crucial market insights. The market was valued at 7.18 billion in 2020 and is forecasted to reach a landmark of 14.5 billion by 2030 with a CAGR of 7.2%. The continuous rise in the cases of dental disorders is the primary driver of the Dental Biomaterials Market. Some of the players operating in the market include 3M company, Carpenter Technology Corporation, Royal DSM, Zimmer Biomet Holdings Inc, Straumann Holding AG, Danaher Corporation, Kuraray Co Ltd, Henry Schein Inc, Mitsui Chemicals Inc, Victrex PLC.
Orthopedic Digit Implants Market
The report on “Orthopedic Digit Implants Market” Insights & Forecast 2030, published by Strategic Market Research describes a clear idea about the key market insights. The market was valued at 80 Mn in 2020 and is likely to reach 167.53 Mn by 2030 with a promising CAGR of 6.65%. The increase in the frequency of accidents, rise in the number of the ageing population and the surge in the number of disorders are the key drivers fueling the market’s growth. The vital players in the Global Orthopedic Digit Implants Market are Johnson and Johnson Services, Wright Medical Group N.V, Teijin Nakashima Medical Co., Ltd, Smith and Nephew, Stryker Corporation, Integra Lifesciences, Acumed LLC, Merete Medical GmbH, Zimmer Biomet Holdings, Inc, VILEX IN TENNESSEE, INC, Signature orthopedics Implants, etc.
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