According to a new market research study titled 'Soft tissue repair Market to 2025 - Global Analysis and Forecasts by Product and Application. The global soft tissue repair market is estimated to account for US$ 6677.0 Mn by 2025 as compared to US$ 3590.5 Mn in 2017, growing at a CAGR of 8.3% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global soft tissue repair market and the factors driving the market along with those that act as restraints to its growth.
The global soft tissue repair market is a matured market in the developing countries as well as developing economies worldwide. Growing healthcare expenditure, growing number of sport injuries and rising geriatric population drive the soft tissue repair market. As per the Food and Agriculture Organization, world's population expected to reach 9.1 billion by 2025. According to the U.S. Census Bureau's 2017 National Population Projections all baby boomers will be older than age 65 by 2030. It also stated that there will be 78.0 million people 65 years and older as compared to 76.4 million under the age of 18 by 2035. According to the report of UN, the number of older persons aged 60 years or over is expected to rise from 841 million people in 2013 to more than 2 billion in 2050.
Soft tissue repair market, based on the product is segmented into fixation instruments and tissue mesh/patch. Fixation instruments is further segmented into fixation instruments, suture anchors, interference screw, sutures, and others. Tissue mesh/patch is further segmented into synthetic and biological mesh. Soft tissue repair market, based on the application is segmented into orthopedic repair, hernia repair, breast reconstruction, pelvic and vaginal prolapse repair, skin repair, dental and dural repair, and others.
The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America. In North America, the market is driven presence of key players in the US and rising awareness about sports injuries in Canada and Mexico. The Canadian Government also undertakes certain programmes to increase awareness about sport injuries. As per the data by The Government of Canada, 64% of visits to emergency department of the hospitals among 10-18 year-olds are related to the participation in sports, physical activity and recreation. However, in Asia Pacific, the market is expected to witness significant growth in the coming years. Significant rise in the number of orthopedic surgeries, growing demand for soft tissue fixation devices and extensive research activities and technological advancements are expected to drive the market of soft tissue repairs during the forecast period.
The key players operating in the market of soft tissue repair worldwide include Smith & Nephew, Depuy Synthes, Arthrex, Inc., Medtronic, Integra Lifesciences Corporation, Stryker, C.R Bard, Inc., Organogenesis, ConMed, Wright Medical Group, Inc. among others.
The report segments the global Soft tissue repair market as follows:
Global Soft Tissue Repair Market - By Product
Global Soft Tissue Repair Market - By Application
Global Soft tissue repair Market - By Geography
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