Newark, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.70 billion in 2021 global tendon repair market will reach USD 3 billion by 2030. The sector for tendon repair will develop as the elderly population rises. A rise in obese persons will fuel the global market for tendon repair. The rise would also aid market expansion in sports-related injuries requiring minimally invasive tendon repair procedures. Technological advancements that enable straightforward, efficient, and quicker tendon repair procedures and techniques with quicker recovery will propel the worldwide tendon repair market. To strengthen the infrastructure, logistics, processes, and advancement of sophisticated medicine, governments worldwide have boosted their healthcare spending. The market for tendon repair will also benefit from the increased private investment in the creation of improved tendon repair methods and techniques.
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Key Insight of the Global Tendon Repair Market
Asia Pacific is expected to rise the fastest during the forecast period.
The geriatric population is estimated to reach 1.5 billion by 2050. Furthermore, those 60 and older will most likely get soft tissue injuries. Over 40% of rotator cuff injuries occur in people 60 and older. The World Health Organisation survey estimated that 2 million people experienced musculoskeletal problems globally in 2021. Asia Pacific is home to a sizeable share of the world's senior population. Tendon repairs can reduce pain and assist in regaining lost mobility. As a result, during the projection period, tendon repairs will become increasingly in demand due to the growing number of geriatrics suffering from tissue damage and injury.
In 2021, the suture anchor devices segment dominated the market with the largest market share of 45% and revenue of 0.76 billion.
The product type segment is divided into screws, grafts, implants, suture anchor devices, tendons repair matrix, scaffolds, & others. In 2021, the suture anchor devices segment dominated the market with the largest market share of 45% and revenue of 0.76 billion.
In 2021, the rotator cuff segment dominated the market with the largest market share of 47% and revenue of 0.79 billion.
The application segment is divided into rotator cuff repair, cruciate ligament repair, biceps tenodesis, Achilles tendinosis repair, & and others. In 2021, the rotator cuff segment dominated the market with the largest market share of 47% and revenue of 0.79 billion.
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Advancement in market
September 2023 - According to published findings, patients who received arthroscopic repair of an upper-third subscapularis tendon tear saw improved clinical outcomes and satisfaction at least ten years after the procedure. The Steadman Philippon Research Institute's Rony-Orijit Dey Hazra, MD, and associates examined the results of 14 patients. The study claims that results were obtained prospectively and retrospectively at a minimum follow-up of 10 years. Researchers discovered that the average level of patient satisfaction was 10. They also noted that patients reported better sleep, daily activities, and athletic performance.
Market Dynamics
Driver: worldwide geriatric population growth.
As a person ages, the connective tissues weaken and are less able to hold together bones, muscles, or muscles and bones so that the limbs can perform their jobs. The soft connective tissues' diminished effectiveness hinders people's capacity to move. With ageing, there is a higher chance of soft connective tissue injury developing. As a result, the number of patients with soft connective tissue or tendon injuries will increase as the ageing population grows. The use of tendon repairs to address tissue injury will rise due to the least invasive nature of tendon repair operations and therapies. The expanding use of minimally invasive tendon repair procedures and the prevalence of tissue damage will fuel the
Restraints: The high cost of tendon repair.
The creation of tendon repair processes, devices, tools, and methods requires a significant amount of funding. The newest technologies are used during tendon repair surgeries or procedures to increase efficiency, yet because these technologies are pricey, tendon repairs are pricy. These operations are more expensive because of the complex and involved tendon repair methods. The high cost of tendon repairs will hamper the market's expansion.
Opportunities: technological progress.
Major players have spent money researching and developing improved treatments or techniques in response to the need for tendon repairs. For instance, cutting-edge tools and technologies for regenerating native tissue are successfully used to enhance the treated limb's movement and flexibility while accelerating healing. These tools and technologies include scaffolds, tissue grafting, and other tissue matrices. Additional improvements in tendon repair processes and techniques will boost the industry's competitiveness and efficiency, fostering growth and creating profitable prospects for market participants.
Challenge: Absence of reimbursement policies.
The inadequate healthcare infrastructure will hamper the market growth in developing and underdeveloped economies. Due to the high cost of tendon repair operations, most people only choose to have them if their health insurance covers them. In developing nations, the absence of public health insurance infrastructure creates a highly monopolized private healthcare insurance market that is too expensive for the typical residents of the nation. The market can't expand because there aren't any other options for getting paid for such pricey treatments.
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Some of the major players operating in the global tendon repair market are:
• Medical Device Business Services Inc.
• Integra LifeSciences
• Stryker
• Smith & Nephew
• Arthrex Inc.
• Aevumed
• CONMED Corporation
• BioPro Inc.
• MIMEDX
• Amniotics AB
Key Segments covered in the market:
By Product Type
• Screws
• Grafts
• Implants
• Suture Anchor Devices
• Tendons Repair Matrix
• Scaffolds
• Others
By Application
• Rotator Cuff Repair
• Cruciate Ligament Repair
• Biceps Tenodesis
• Achilles Tendinosis Repair
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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