PUNE, India, Sept. 29, 2021 /PRNewswire/ -- According to new research study on "Soft Tissue Repair Market to 2028 – Global Analysis and Forecast – by Product, Application, and Geography," the soft tissue repair market is projected to reach 13,646.70 million by 2028 from US$ 9,033.85 million in 2021; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The market growth is primarily attributed to the rising prevalence of sport injuries, increasing number of orthopedic procedures, and surge in geriatric population. However, the availability of alternatives for soft tissue repair and lack of awareness about soft tissue injuries hamper the soft tissue repair market growth.
Strategic Insights:
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Report Coverage |
Details |
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Market Size Value in |
US$ 9,033.85 Million in 2021 |
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Market Size Value by |
US$ 13,646.70Million by 2028 |
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Growth rate |
CAGR of 6.1% from 2021-2028 |
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Forecast Period |
2021-2028 |
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Base Year |
2020 |
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No. of Pages |
222 |
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No. Tables |
138 |
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No. of Charts & Figures |
80 |
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Historical data available |
Yes |
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Segments covered |
Product, Application and Geography |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country scope |
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Country scope |
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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In 2020, North America dominated the soft tissue repair market, and the US was the largest shareholder in the regional market. Further, Asia Pacific is expected to register the highest CAGR in the market during 2021–2028. The market growth in North America is ascribed to the presence of major market players in the region. Additionally, advancements in technologies, increasing number of ambulatory surgical centers, and the presence of well-developed healthcare facilities equipped with modern-age equipment and instruments further drive the regional market growth. Furthermore, higher procedural volume and increasing adoption of soft tissue repair procedures would generate favorable environment for the soft tissue repair market growth in Canada and Mexico.
Increase in Geriatric Population Boosts Market Growth
Aging affects the healing process of injuries. Diseases such as diabetes mellitus, vascular disease, and malignancies affect the tissue repair process. Therefore, the demand for tissue repair devices and surgical meshes has risen in the world. According to the US Census Bureau's National Population Projections in 2017, all baby boomers would be of age 65 or above by 2030. Moreover, the population of this demographic group would reach 78.0 million by 2035, while the number of people under the age of 18 would reach 76.4 million in the same year. According to a report by the United Nations (UN), the number of people aged 60 or above is expected to rise from 841 million people in 2013 to more than 2 billion by 2050.
In Asia Pacific (APAC), Japan, China, and India are the major countries where the geriatric population is rising rapidly. The Strategic and International Studies in China stated that Japan is the oldest country in the world, and it has aged at a faster pace than among other nations. It also says 9.5% of the population of China was aged 65 or older in 2015. The UN estimated that this percentage would rise to 27.5% by 2050. As per the United Nations Population Fund (UNFPA), the senior population in India is expected to reach 300 million by 2050 from 104 million in 2011. Thus, the elevating geriatric population is one of the primary forces fueling the soft tissue repair market growth.
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Soft Tissue Repair Market: Segmental Overview
The soft tissue repair market has been segmented on the basis of product and application. Based on product, the market is bifurcated into fixation fixed instruments and tissue mesh/patch. The tissue mesh/patch segment held a larger market share in 2021, and it is further expected to register a higher CAGR in the market during 2021 to 2028. Based on application, the soft tissue repair market is segmented into orthopedic repair, hernia repair, breast reconstruction, pelvic and vaginal prolapse repair, skin repair, dental repair, dural repair, and others. The orthopedic repair segment held the largest market share in 2021. However, the breast reconstruction segment is expected to register the highest CAGR during the forecast period.
Many countries have reported an increase in the number of COVID-19 cases compared to the first wave of the pandemic. As per the European Centre for Disease Prevention and Control (ECDC), the UK, Spain Italy, and Ireland reimposed lockdowns to lower the intensity of impact of the second wave.
North American countries, especially the US and Canada, have a well-established market for soft tissue repair products and services. This can be attributed to the presence of research organizations such as California Institute for Regenerative Medicine (CIRM), New York State Stem Cell Science Program (NYSTEM), and Stem Cell Network (SCN).. The Ohio Hospital Association imposed to cancel operations that did not match with the criteria. Apart from treating trauma and tumors, the association also allowed to address one day surgical cases, including arthroscopies, implant removals, and soft-tissue procedures. An early discharge may effectively reduce the risk of nosocomial COVID-19 infection among patients while lowering excessive burden from healthcare resources. Conversely, elective procedures requiring > 23 hours of hospitalization have been postponed and temporarily tackled with pain-relieving strategies.
Soft Tissue Repair Market: Competition Landscape and Key Developments
Smith & Nephew; DePuy Synthes; Arthrex, Inc.; Medtronic; Stryker Corporation; BD; Organogenesis Inc.; Allergan Plc.; W. L. Gore and Associates, Inc.; Cook Medical LLC; B. Braun Melsungen AG; DSM; Baxter International Inc.; and Integra Lifesciences Corporation are among the leading companies operating in the soft tissue repair market. The major players focus on expanding their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.
Company Profiles
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Smith & Nephew
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DePuy Synthes
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Arthrex, Inc.
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Medtronic
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Integra Lifesciences Corporation
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Stryker Corporation
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BD
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Organogenesis Inc.
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Allergan Plc.
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W. L. Gore and Associates, Inc.
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Cook Medical LLC
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B. Braun Melsungen AG
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DSM
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Baxter International Inc.
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In October 2020, DePuy Synthes launched the FIBULINK Syndesmosis Repair System to enable precise, anatomic syndesmotic fixation to help restore the physiological motion of an ankle, following a traumatic injury.
In February 2020, Integra Lifesciences launched AmnioExcel plus Placental Allograft Membrane, its latest wound care offering to support soft tissue repair.
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