New York, United States , Nov. 14, 2022 (GLOBE NEWSWIRE) -- The Global Market for Artificial Tendons and Ligaments estimated at US$ 16.2 Mn in the year 2021, is projected to reach a revised size of US$ 34.7 Mn by 2030, growing at a CAGR of 16.8%. A ligament is a piece of fibrous tissue that connects a bone to another bone. The ligament, a fibrous band of connective tissues which keep the bones together at the joints and supports the internal organs. As per the latest research report published by Spherical Insights & Consulting.
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The industry is also predicted to be driven by an increasing geriatric population. Age-related disorders include weak bones, weakened soft connective tissues like ligaments and tendons, and deteriorating cartilage increase the chance of developing knee-related injuries. The market growth is anticipated to be somewhat constrained throughout the projected period by elements such healthcare providers' resistance to using artificial tendons and ligaments, high treatment costs, and poor reimbursement scenarios in key areas. Due to a rise in ankle and shoulder procedures performed in ASCs and outpatient units connected to hospitals. Additionally, the segment's rise in the near future will be fueled by growing awareness of minimally invasive surgeries.
Government attempts to encourage surgical facilities to enhance healthcare effectiveness and deliver speedy outcomes are multiplying, which will further support the hospitals and clinics market. Another reason for the segment's significant market share is the cooperation between important players and orthopedic clinics to raise awareness of sports injuries and accessible treatments.
Browse key industry insights spread across 210 pages with 118 market data tables and figures & charts from the report “Global Artificial Tendons and Ligaments Market Size, Share & Trends, COVID-19 Impact Analysis Report, By Implant Type (Silastic-rod implant, Marlex mesh, Carbon-Fibre implant, Others), By Application (Knee Injuries, Shoulder Injuries, Foot & Ankle Injuries, Spine Injuries, Hip Injuries, Others), By End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Others): By Region (U.S., Canada, Mexico, Rest of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, the Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2021-2030”, in detail along with the table of contents
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The prevalence of sports injuries, which increased demand for artificial ligament and tendon, growing focus by healthcare organizations, and government support for the development of advanced and technologically improved artificial implants in the region all contributed to North America holding the largest share of the global market in 2017. Due to an ageing population, rising accident and sports injury rates, and developing healthcare infrastructure, Asia Pacific is anticipated to have a higher CAGR from 2019 to 2026.
Researchers are also working to create novel artificial ligament grafts that can fuse with real bones, support the knee, and promote the growth of new ligament tissues. As an illustration, in July 2017, scientists at Hokkaido University developed a flexible, strong, fiber-reinforced hydrogel biomaterial that can survive typical wear and tear. The research team hypothesised that the material may be utilised to make synthetic ligaments, tendons, or organs. Consequently, it is anticipated that stepping up R&D efforts will keep this market's robust growth trajectory.
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The knee injuries segment dominated the global artificial tendons and ligaments market owing to a number of factors, including an increase in sports participation, an increase in the frequency of knee injuries, discomfort at the harvest site as a result of traditional surgical treatment methods using auto grafts and allografts, and the advantages of artificial tendons and ligaments over auto grafts and allografts. The hospitals segment dominated the global artificial tendons and ligaments market owing to huge re-admission rate brought on by postoperative complications and a large volume of patient turnover. The adoption of these grafts in hospitals and clinics' end-user facilities will also be boosted by supportive infrastructure, which aids in effective operations.
Europe region is dominating the market share of global artificial tendons and ligaments market owing due to rise in government initiatives to promote sports, the rise in conferences, symposiums, and workshops showcasing the newest sports technologies in the UK, the rise in sports-related injuries and knee replacements, the expansion of the medical device industry, the low out-of-pocket costs for medical devices, and agreements between universities, organizations, and institutions are all factors driving the artificial tendons and ligaments market for Europe.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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