New York, July 28, 2022 (GLOBE NEWSWIRE) -- Around 1.5 million osteoporotic fractures that occur in the US annually result in more than 500,000 hospital admissions, 800,000 visits to emergency rooms, 2,600,000 doctor visits, and the admission of roughly 180,000 people to nursing homes. Hip fractures, which cause around 300,000 hospital admissions annually, are by far the most severe type of fracture.
Research Nester has published a detailed market report on ‘Global Anterior Cruciate Ligament Repair Market’ for the forecast period i.e. 2022 – 2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
It was noticed that the number of sports-related injuries increased in 2021 (409,224 injuries compared to 377,939 in 2020), and the age group with the highest injury rate is 15 to 24-year-olds, with nearly twice as many males compared to females suffering sports-related injuries which is 4,148,404 males with respect to 2,158,887 females. The global anterior cruciate ligament repair market to grow at a CAGR of ~10% over the forecast period. The anterior of the knee contains cruciate ligaments, commonly known as cruciform ligaments. The damaged cruciate muscles are replaced during the anterior cruciate ligament repair procedure using a surgical tissue graft. The rise in orthopedic injuries, particularly those resulting from sports, is estimated to drive the market expansion over the forecast period. Additionally, bone-related disorders notably osteoporosis and osteoporotic fractures are estimated to drive the market growth during the forecast period. For instance, in Europe, 8 new fracture cases are reported per minute. More than 23 million men and women in the European Union are thought to be at high risk of osteoporotic fractures.
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Moreover, the rising aging population across the globe is estimated to drive the market growth over the forecast period. With aging rate of bone degradation outpaces the creation of new bone to replace it as certain hormone levels start to fall around the age of 50 to 60 years in women and men. It was noticed that approximately 6.3% of males over 50 and 21.2% of women over the same age range are affected by the osteoporosis globally. This implies that roughly 500 million men and women globally are predicted to get affected by osteoporosis. Additionally, the increasing demand for non-invasive procedures and rising healthcare costs globally are anticipated to boost market expansion over the forecast period. As per the WHO expenditure data reports, global health spending has increased overall during the previous 20 years, reaching USD 8.5 trillion in 2019 and 9.8% of GDP (up from 8.5% in 2000). Further, the increasing technological advancement in the field of medicine and significant investment in the research and development sector is estimated to drive the market growth during the forecast period.
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On the basis of geographical analysis, the global anterior cruciate ligament repair market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Out of these, the market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to increasing cases of osteoporosis and arthritis cases, backed by the growing geriatric population in the region. By 2050, Asia is expected to account for more than half of all osteoporotic hip fractures, according to research from the International Osteoporosis Foundation. Practically, all Asian nations consume less calcium than is advised by the FAO and WHO, which is between 1000 and 1300 mg per day. In fact, Malaysia, the Philippines, and India only consume 500 mg of calcium daily. Thus, the lower consumption of a calcium-rich diet, rising prevalence of bone diseases, and high spending in the healthcare sector are estimated to boost market growth over the forecast period.
On the other hand, the market in North America region is estimated to gain the largest market share throughout the forecast period owing to the high prevalence of sports injuries and rising bone-related diseases in the region. According to the Centers for Disease Control and Prevention (CDC), around 4.2 percent of men had osteoporosis of the femur neck or lumbar spine while it was observed in 18.8% of women over 50 during 2017- 2018. In addition to this, the rising awareness among the people regarding osteoporosis, high spending in the healthcare sector, significant investment in research and development activities, and the presence of key market players in the region are estimated to drive the market growth during the forecast period.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global anterior cruciate ligament repair market is segmented by application into osteoarthritis, rheumatoid arthritis, trauma, and others. Out of these, the osteoarthritis segment is estimated to hold a substantial market share over the forecast period owing to the increasing prevalence of osteoarthritis across the globe. For instance, the most prevalent joint ailment in the US is osteoarthritis (OA). 10% of men and 13% of women who are 60 years or older who have symptoms of knee OA. Additionally, the growing aging population and high prevalence of obesity across the globe are predicted to increase osteoarthritis cases further over the ensuing years and which in turn estimated to boost segment growth during the forecast period.
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Further, the global anterior cruciate ligament repair market is segmented by end-user into hospitals, ambulatory surgical centers, and others. Out of these, the hospitals segment is estimated to hold the largest market share over the forecast period owing to the larger patient pool in the hospital and the increasing cost of treating osteoporosis, osteoarthritis, and other bone-related diseases. As per the data, it is anticipated that by 2025, there would be more than 3 million osteoporotic fracture cases per year in the USA, and the cost associated with it is estimated to be USD 25.3 billion. Further, the rising awareness among the people regarding bone health, increasing medical advancements, and significant investment into healthcare infrastructure across the world are estimated to drive the segment growth over the forecast period.
The global anterior cruciate ligament repair market is also segmented on the basis of graft type.
Global Anterior Cruciate Ligament Repair Market, Segmentation by Graft Type
- Autograft
- Allograft
Some of the prominent key players and their company profiling mentioned in the global anterior cruciate ligament repair market research report include Wright Medical Group N.V., Arthrex Inc., DJO, LLC, Smith & Nephew plc, Stryker Corporation, Mylan N.V., Novartis International AG, Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Inc., and other key market players. The profiling enfolds growth opportunities, challenges, and market trends prevalent for the growth of the market during the forecast period.
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