Soft Tissue Anchors Market Research Report and Outlook by 2028

The soft tissue anchors market is projected to expand from US$ 677.68 million in 2022 to US$ 912.27 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.1% during this period.

This growth is primarily driven by the rising incidence of sports-related injuries, an increase in orthopedic surgical procedures, and a notable rise in the elderly and overweight populations.

Countries such as the United States, United Kingdom, Canada, Japan, China, India, and South Korea are experiencing significant advancements in healthcare infrastructure and services. These improvements have contributed to an increase in life expectancy, thereby enlarging the geriatric demographic. According to the World Health Organization (WHO), the global population aged 60 and older was approximately 1 billion in 2019, with projections indicating it will reach 1.4 billion by 2030 and 2.1 billion by 2050.

A report from the US Census Bureau forecasts that the population of individuals aged 65 and above in the United States will rise from 46 million in 2016 to over 98 million by 2060, increasing their share of the total population from around 15% to approximately 24%. Additionally, data from Eurostat indicates that Europe had the highest percentage of individuals over 60 years old globally, at 20.8% in 2021. By 2050, it is expected that all regions, except for Africa, will have around 25% or more of their populations aged 60 and above, with developing nations accounting for about 80% of this growth. This demographic shift is likely to lead to a higher prevalence of orthopedic issues such as osteoarthritis, joint pain, and the need for joint replacements, thereby increasing the demand for soft tissue anchors. The Osteoarthritis Action Alliance reports that osteoarthritis is the most prevalent form of arthritis in the US, affecting 32.5 million individuals, with 43% of those aged 65 and older impacted as of 2020.

Obesity is another significant factor contributing to orthopedic injuries, which is expected to further drive the soft tissue anchors market. Individuals with obesity are at a higher risk for orthopedic conditions, including soft tissue injuries and osteoarthritis. The Trust for America's Health reported in 2020 that the obesity rate in the US reached 42.4%, marking a 26% increase since 2008. The National Library of Medicine indicates that those who are obese are more susceptible to various conditions such as tendinopathies, rotator cuff tendonitis, shoulder impingement, plantar fasciitis, Achilles tendonitis, and posterior tibial tendon dysfunction.

Consequently, the growing elderly and obese populations worldwide have led to an increase in orthopedic injuries and disorders, thereby driving the demand for soft tissue anchors and supporting the market's growth.

During the COVID-19 pandemic, many health authorities prioritized pandemic-related care, leading to a reduction in human contact and a postponement of elective surgeries. This resulted in significant disruptions in orthopedic care, as outpatient clinics were suspended and elective procedures were delayed. Orthopedic surgeons faced challenges in providing timely surgical care, training, and research due to these changes. Recent guidelines for pediatric orthopedic surgeons emphasized urgent care and the postponement of elective surgeries, with a shift towards virtual care when feasible.

Even after hospitals resumed elective surgeries, prioritization based on clinical urgency led to substantial delays in both routine and urgent orthopedic care. This situation limited the ability of companies to distribute their products due to temporary facility closures. Furthermore, hospitals postponed or canceled appointments to allocate resources for COVID-19 patients. A study published in the British Journal of Surgery in May 2020 indicated that orthopedic procedures were among the most affected, with approximately 6.3 million operations canceled globally. Thus, the pandemic had a detrimental impact on the soft tissue anchors market.

The soft tissue anchors market is categorized by type into absorbable and non-absorbable anchors. In 2022, the absorbable segment held a larger market share and is expected to maintain its dominance throughout the forecast period. Absorbable anchors are preferred due to their ability to dissolve in the body, minimizing medical complications. This segment is also projected to exhibit the highest CAGR from 2022 to 2028.

Additionally, the market is divided into knotted and knotless types, with the knotless segment capturing a larger share in 2021 and anticipated to achieve the highest CAGR during the forecast period.

In terms of materials, the market includes metallic suture anchors, bio-absorbable suture anchors, PEEK suture anchors, bio-composite suture anchors, and others. The PEEK suture anchor segment dominated the market in 2022, while the bio-composite suture anchor segment is expected to register the highest CAGR of 5.7% during the forecast period.

From an application perspective, the soft tissue anchors market is segmented into health management, financial health management, home health management, and others. The health management segment held the largest market share in 2022 and is projected to grow at the highest CAGR in the coming years.

Finally, by end user, the market is divided into hospitals, clinics, emergency medical services, and others. The hospitals segment accounted for the largest market share in 2022, while the emergency medical services segment is expected to experience the highest CAGR of 5.7% during the forecast period.

Key sources for this report on the soft tissue anchors market include the International Osteoporosis Foundation (IOF), Australian Orthopedic Association National Joint Replacement Registry (AOANJRR), Canadian Institute of Health Information, World Health Organization, Centers for Disease Control and Prevention (CDC), National Statistics Institute (INE), and the Organization for Economic Co-operation and Development (OECD).