Rockville, MD, Dec. 11, 2024 (GLOBE NEWSWIRE) -- The global soft tissue anchors market is expanding significantly in tandem with rapid technological breakthroughs in the medical field. Life expectancy has significantly risen as a result of these developments, providing patients with a wider range of treatment alternatives to select from. According to a new study by Fact.MR, the market is set to reach a valuation of US$ 5.17 billion in 2024 and thereafter expand at a CAGR of 5.3% from 2024 to 2034.
Athletes frequently suffer from injuries, including fractures and muscle tears. By securing their ligaments, tendons, and other soft tissues to the bone, these soft tissue anchors provide sportspersons with immediate assistance. The need for soft tissue anchors in the medical sector is driven by the necessity of these suture anchors in sports medicine. During shoulder surgery, suture anchors are also frequently utilized to attach the damaged rotator cuff tissue back to the corresponding bones.
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Key Takeaways from Market Study
- The global soft tissue anchor market is projected to expand at a CAGR of 5.3% through 2034.
- Global sales of tissue anchors are estimated at US$ 5.17 billion in 2024.
- The market is forecasted to reach US$ 8.7 billion by 2034-end.
- The North American market is forecasted to expand at a CAGR of 5.9% from 2024 to 2034.
- Absorbable anchors are estimated to account for 74.5% market share in 2024.
- Western Europe is projected to account for 16.8% of the global market share by 2034.
“Soft tissue anchors play a pivotal role in orthopedic surgeries, and their widespread use is driven by the rising prevalence of sports injuries and age-related orthopedic conditions among the elderly. Demand for minimally invasive techniques is further contributing to market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Soft Tissue Anchor Market:
Becton Dickinson and Company | Smith & Nephew Plc | Stryker Corporation | Arthrex Inc. | Johnson & Johnson | Medtronic Plc | Parcus Medical | Biotek Medical | Zimmer Biomet
Growing Need for Minimally Invasive Treatments Driven by Benefits of Faster Recovery and Shorter Hospital Stays
Increasing need for less invasive treatments has increased because of their many advantages, such as faster recovery and shorter hospital stays. Increasing demand for these soft tissue anchors is predominantly driven by increasing participation in sports worldwide due to rising health consciousness. To meet the increasing demand for soft tissue anchors, suppliers in the industry are improving their manufacturing processes.
Organization of various events by governments worldwide has had a positive influence on the medical sector, leading to an increase in the number of orthopedic procedures. This has created opportunities for tissue anchor providers to collaborate with hospitals to distribute their products.
Soft Tissue Anchor Industry News:
- In February 2021, the knotless suture anchor system CITREFIX received approval from the US Food and Drug Administration (FDA) to go on sale. The system is built using CITREGEN, a state-of-the-art synthetic polymer from Acuitive Technologies.
- In January 2021, Integra LifeSciences Holdings Corporation's Extremity Orthopaedics division was acquired by Smith & Nephew for US$240 million.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the soft tissue anchor market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (absorbable, non-absorbable), material (metallic sutures, bio-absorbable sutures, PEEK sutures, all sutures, bio-composite sutures), knot type (knotted suture anchors, knotless suture anchors), and end user (hospitals, emergency medical services, clinics, ambulatory surgical centers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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