Rockville, MD, Oct. 24, 2024 (GLOBE NEWSWIRE) -- According to a new industry report released by Fact.MR, the global soft tissue repair market size is expected to reach a size of US$ 7.39 billion in 2024 and further expand at 5.6% CAGR, to reach a value of US$ 12.78 billion by the end of 2034.
Because of the increasing aging population, demand for orthopedic procedures is increasing at a significant pace, offering lucrative prospects for soft tissue repair solution providers. Chronic conditions like diabetes-related gangrene, osteoarthritis, and peripheral vascular disease are boosting the demand for orthopedic procedures, including amputations. Consequently, there is a surge in overall sales within the soft tissue repair market.
Increased investment in soft tissue repair research and development fuels market expansion, fostering the introduction of novel products and technological advancements. This market is experiencing substantial growth, offering substantial opportunities for the healthcare sector.
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Key Takeaways from Market Study
- The market is forecasted to expand at a CAGR of 6% from 2024 to 2034.
- Sales of soft tissue repair products in the United States are placed to reach US$ 3.05 billion in 2024.
- Brazil is set to occupy 6% market share in East Asia in 2024.
- The market in Canada is estimated to reach a value of US$ 511 million in 2024.
- The North American market is forecasted to expand at a CAGR of 9% from 2024 to 2034.
“Development of products for soft tissue repair has resulted from the growing preference for minimally invasive procedures. Increasing prevalence of sports-related injuries is an additional factor driving market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Soft Tissue Repair Market:
Smith & Nephew Plc.; Medtronic Plc.; Arthrex, Inc.; Medprin Biotech; Zimmer Biomet; Stryker Corporation; Baxter International, Inc.; Stryker; Medtronic; Acera Surgical Inc.; Arthrex Inc.; Integra LifeSciences; Acelity L.P. Inc.; Aroa Biosurgery Limited; Becton, Dickinson and Company; Conmed.
Rising Awareness of Injury Prevention and Rehabilitation in United Kingdom
The United Kingdom is a key player in the soft tissue repair market due to its extensive healthcare system and active population. Due to the increasing awareness of the importance of sports injury prevention and rehabilitation, the country is seeing notable advancements in this field. Prominent healthcare providers and medical equipment manufacturers also benefit the UK market. These companies continually bring innovative soft tissue repair products and methods to the market, which helps it grow. Due to its commitment to healthcare research and development, which fosters the development of cutting-edge soft tissue repair technologies, the United Kingdom is a major player in the global market.
Soft Tissue Repair Industry News:
- Theradaptive, a biopharmaceutical company leading the way in regenerative treatments, and 3D Systems, a prominent developer of additive manufacturing technology, signed a partnership designating 3D Systems as Theradaptive's 3D printing partner. The main goal of the firms was to offer a new method of promoting bone and tissue growth by using medical devices from 3D Systems and unique Theradaptive material binding variants.
- In December 2022, Stryker debuted the Citrefix suture anchor system, designed specifically for foot and ankle surgery. The invention features a disposable suture anchor system and a resorbable biomimetic anchor body, in contrast to traditional anchor systems.
- In May 2022, Paragon 28 Inc. released the Grappler Suture Anchor System, which significantly eased the challenges related to ligament restoration and soft tissue tensioning in acute foot and ankle surgeries.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the soft tissue repair market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the soft tissue repair market based on product type (synthetic, allograft, xenograft, alloplast), application (breast reconstruction, hernia, dermatology, orthopedics, dental problems, vaginal sling), and end user (hospitals, ambulatory surgical centers, clinics) across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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Soft Tissue Anchor Market Study by Absorbable and Non-Absorbable Metallic Suture Anchors, Bio-absorbable Suture Anchors, PEEK Sutures, All Suture, and Bio-composite Suture Anchors from 2024 to 2034
Tissue Processing System Market Study by Small Volume Tissue Processors, Medium Volume Tissue Processors, Rapid High Volume Tissue Processors from 2024 to 2034
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Hemostasis and Tissue Sealing Agents Market Analysis By Product (Topical Hemostats, Adhesive & Tissue Sealants), By End User (Hospitals, Ambulatory Surgery Centers, Home Care Settings, Others), & By Region - 2024 to 2034.
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