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
- Tissue patch/mash
- Laparoscopic instrument injectors
- Allograft
- Xenograft
- Suture Anchor
- Interference Screws
Based on Application
- Hernia Repair
- Dural Repair
- Vaginal Sling Procedures
- Skin Repair
- Orthopedic repair
- Dental repair
- Breast Reconstruction Repair
Based on the End-user
- Hospitals
- Clinics
- Other end-users
Based on Regions
- North America
- Europe
- Asia-Pacific
- LAMEA
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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:
- Smith & Nephew Plc. (UK)
- Arthrex, Inc. (US)
- Stryker Corporation (US)
- Johnson & Johnson (US)
- Medtronic Plc. (IE)
- LifeNet Health, Inc. (US)
- Becton, Dickinson and Company (US)
- Integra LifeSciences Corporation (US)
- CryoLife, Inc. (US)
- Organogenesis Inc. (US)
- Zimmer Biomet (US)
- Baxter International, Inc. (US)
- ACell Inc. (US)
- In2Bones (US)
- Tissue Regenix Group Plc (UK)
- Aroa Biosurgery Ltd. (NZ)
- Orthofix Medical Inc.
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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.
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