Soft Tissue Repair Market is estimated to reach USD 16.98 billion by 2021
Posted by MDFtrends on November 10th, 2017
Soft Tissue Repair Market Size is anticipated to grow at a 7.50% CAGR from 2016 to 2021 and it is estimated that the global market was valued at USD 11.83 billion in 2016 and is relied upon to achieve USD 16.98 billion by 2021.Soft tissue repair is a technique for restoring functions of damaged or injured tissues such as ligaments, muscles, and other tissues. Soft tissue repair can be accomplished through surgical meshes such as allografts, xenografts, alloplasts, and synthetic.
The major factors driving the market are the rise in the count of geriatric population, obesity and growing awareness for the treatment of tissue injuries. Moreover, rising incidences of sports related injuries and rising healthcare expenditure, are other factors that are likely to fuel the market growth. However, the high cost of treatment, lack of expertise, and an ambiguous reimbursement scenario are likely to curtail the market growth. Primary factors driving the growth of the global soft tissue repair market are increasing disposable income and changing lifestyles among populations in developing economies. Moreover, a rise in the geriatric population, increasing hernia repairs, and growing incidence of breast cancer are factors driving demand for wound care and soft tissue repair products globally. However, ethical concerns arising from cultural aversion towards the use of tissue from human cadavers and stringent regulations for biological meshes are expected to hamper the growth of the global soft tissue repair market.
Soft Tissue Repair Market Segmentation by Product and Application. On the basis of Product, it is segmented into Mesh/Tissue patch, Allograft, Xenograft, Suture Anchor, Interference Screws and Laparoscopic Instruments. The tissue fixation products market is the most profitable market for soft tissue repair market by product as its capability to preserve tissue from decomposing and an increase in the mechanical strength of the tissue. On the basis of Application, it is segmented into Hernia, Dural, Orthopedic, Skin, Dental, Vaginal and Breast augmentation. An increase in the participation of youth in sports is one of the key driving factors of soft tissue repair market.
Soft Tissue Repair Market geographical segmentation by North America, Europe, Asia-Pacific and Middle East and Africa. An increase in the demand for treatment and a rise in the awareness of patient about different treatment option will dominate the market in North America. An increase in the medical tourism in developing countries, rising investment of market player in the Asia Pacific region especially in India and China and rising health awareness about soft tissue repair treatment will drive the market in Asia Pacific in the forecast period. Europe is also anticipated to register significant growth in soft tissue repair market. The increasing concern regarding health among people and technological advancement in the products will increase the demand for soft tissue repair treatment is expected to fuel the growth of the market. The evolution of technology and rising geriatric population will drive the market in Middle East & Africa. Furthermore, due to government support for treatment and a rise in the health care expenditure will drive the soft tissue market in Latin America especially in Brazil. An increase in the disposable income and changing lifestyles among populations in developing economies, increasing hernia repairs, growing incidence of breast cancer and an increase in the treatment option for aging especially for geriatric population and minimally invasive procedures drive the market growth of soft tissue repair globally.
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The major Soft Tissue Repair Market leaders are LifeCell Corporation, Organogenesis, C.R. Bard Inc., Johnson & Johnson, Covidien plc, Arthrex Inc., Smith & Nephew plc, Integra Lifesciences Corporation, Wright Medical Technology, and Stryker Corporation.
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