According to the latest market report published by Credence Research, Inc. “Soft tissue repair Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global soft tissue repair market was valued at US$ 11.74 Bn in 2016, and is expected to reach US$ 22.13 Bn by 2025, expanding at a CAGR of 7.3% from 2017 to 2025.
Browse the full report Soft Tissue Repair Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/soft-tissue-repair-market
Soft tissue injuries is a damage of muscles, ligaments, skin, cartilage, nervous tissue, synovial membrane or tendons; soft tissue repair process is characterized by replacement of injured or destroyed tissues by healthy tissues. Factors such as increasing incidence of soft tissue injuries, lack of substitutes for soft tissue repair surgery and increasing demand for minimally invasive procedure are driving the growth of soft tissue repair market globally. For the purpose of study, global soft tissue repair market is segmented on the basis of product type such as fixation products, tissue patch and laparoscopic instruments. Fixation products are further sub segmented as interference screws, suture anchors and other fixation devices; tissue patch further sub divided as allografts, xenografts and synthetic mesh. Currently tissue patch is major revenue generating segment and anticipated to show similar trend during forecast period due to factors such as rising number of hernia repairs and product innovation to create an ideal product would drive the growth of tissue patch in soft tissue repair market globally. On the basis of application market is categorized as breast reconstruction, hernia repair, dentistry, dermatology, orthopedic and others (pelvic and vaginal prolapse repair, spinal fusion, dural repair); currently soft tissue repair in orthopedic application hold largest market share due to increasing incidence of sports related injuries and rising geriatric and obese population are fueling the market growth globally. Soft tissue repair market is currently dominated by North America due to factors such as higher cost of surgeries, higher demand for treatment and technological advancement are fueling the growth in North America. Asia Pacific is expected to show fastest CAGR during forecast period because increasing healthcare awareness, populous countries and developing economic condition would drive the market growth during forecast period 2017-2025.
Market Competition Assessment:
The soft tissue repair market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Arthrex Inc., Boston Scientific Corp., C.R. Bard, Inc., Covidien plc., Integra Lifesciences Corp., Johnson & Johnson, LifeCell Corporation, Medtronic plc., Smith & Nephew plc., Stryker Corp., Wright Medical Technology and other.
Key Market Movements:
– Factors such as increase in incidence of incidence of soft tissue injuries, rising geriatric and obese population, growing incidence of sports related injuries, rising incidence of breast cancer and increase in demand for minimally invasive procedures are driving the growth of soft tissue repair market globally.
– Due to the high number of unmet needs, vendors in the market are focusing on innovation and technological advances in treatment, this would further influence the growth of soft tissue repair market during forecast period.
– However, higher cost of surgery, stringent regulatory requirements and lack of reimbursement in some countries are negatively impacting the growth of soft tissue repair market.