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Soft Tissue Anchors Market

Rising Demand for Minimally Invasive Procedures Boosting Soft Tissue Anchors Market

Soft Tissue Anchors Market by product (Absorbable and Non Absorbable)

Soft Tissue Anchors Market Outlook (2023 to 2033)

The Global revenue from the Soft Tissue Anchors Market was around US$ 671.3 Million in 2022, with the global market expected to grow at a CAGR of 5.9% to reach a valuation of around US$ 1.25 Billion by the end of 2033.

Market Size (2023)

US$ 709.3 Million

Projected Market Value (2033)

US$ 1.25 Billion

Global Market Growth Rate (2023 to 2033)

5.9% CAGR

Market Share of Top 5 Countries

60.4%

As assessed by Persistence Market Research, knotless suture anchors segment held a market share of around 66.4% in the global market, in 2022. Overall, soft tissue anchors market sales account for around 1.6% of revenue share in the global orthopedic devices market, which was valued at around US$ 40.9 Billion in 2022.

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Sales Analysis of Market from 2012 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 4.7% in the last 10 years from 2012 to 2022.

Acute trauma or repetitive motion of the body are the two main causes of orthopedic injuries. Most bone fractures and injuries are caused by sports and strenuous physical activity. The prevalence of osteoporosis disease and the subsequent increase in fractures is anticipated to increase market demand. The market will be further stimulated by the rising prevalence of these diseases.

  • Anterior cruciate ligament (ACL) injuries are believed to affect roughly over 150,000 U.S. citizens annually, based on the American Orthopedic Society for Sports Medicine statistics. In the U.S., fractures and dislocations account for about 18.6% and 2.5% of all sports injuries, respectively.
  • The International Osteoporosis Foundation estimates that between 1990 to 2050, the number of hip fractures among individuals aged 50 to 64 will rise by 400%.

The demand for orthopedic injury treatment is being fueled by rising public awareness of reconstructive orthopedic procedures coupled with increasing disposable income, which is also boosting the market growth for soft tissue anchors.

  • More than 8.9 million fractures happen annually worldwide by sports-related injuries and road accidents, according to the International Osteoporosis Foundation. Every year, 1.6 million hip fractures are reported worldwide. This number is estimated to increase to 4.5 million to 6.3 million by the year 2050. By the year 2050, it is expected that Asia would account for more than 50% of all osteoporotic hip fractures.

Older people typically have reduced bone density, making them more vulnerable to musculoskeletal diseases and injuries. Globally, the geriatric population increasing significantly, which is expected to aid in the market growth as bone-related disorders will get more prevalent with increasing ageing population.

The global market is likely to show profitable growth over the coming years at a CAGR of 5.9% and reach a global market size of US$ 1.25 Billion by 2033.

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How Can the Global Market Grow?

Increasing Sports Injuries Demanding Orthopedic Procedures

Obesity, orthopedic issues, and other chronic health issues are all severely influenced by a sedentary lifestyle. Obesity and osteoporosis are two prevalent disorders whose incidence is increasing worldwide. Obese patients are more likely to have specific orthopedic disorders that necessitate surgery, which will generate profitable growth prospects for the market.

  • According to estimates by the World Heart Federation, obesity is becoming more and more prevalent worldwide and is one of the most serious public health issues globally. According to estimates, about 2.3 billion children and adults worldwide suffer from overweight or obesity. By 2025, 2.7 billion adults could be overweight or obese if current trends continue.

Orthopedic surgeries frequently make use of soft tissue anchors. The market for soft tissue anchors is predicted to grow as a result of an increase in sports injuries and orthopedic procedures such as rotator cuff surgery, ligament repairs for torn ligaments, excision of excess bone or cartilage, etc.

  • The American Academy of Orthopedic Surgery estimates that over 250,000 rotator cuff procedures are carried out in the U.S. each year.

In sports, shoulder dislocation is a regular occurrence that, if left untreated, could cause lifelong damage. The most popular and least invasive approach for treating shoulder dislocation is arthroscopic Bankart repair using soft tissue anchors.

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Can the Market Growth Be Affected in Any Way?

Product Recalls, Stringent Regulatory Framework

One of the most negative factors preventing the market for soft tissue anchors from expanding is product recall. The companies get financially impacted by product recalls. The companies also get impacted by the product recall's negative effects on their brands, resulting in low adoption rates of the products.

  • In July 2022, Grappler Suture Anchor from Paragon 28 Inc. was recalled by FDA for the safety concerns related with the design of the product. There were concerns regarding the breakage of suture anchors upon insertion, which could lead to potential debris in patient, and delays in surgeries.

Similarly, the lengthy and stringent product approval procedures are delaying the licensing and launch of many products, which is also limiting the market for soft tissue anchors.

There are shortcomings in the current suture techniques. The suture often pulls through the soft tissue if it is strong enough to support the tensile pressures of mobilization. The suture itself is frequently inadequate to handle the tensile pressures associated with mobilization if a thinner suture is employed to prevent tear through, this is also expected to hinder the market growth.

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Country-wise Insights

Why is the United States Market Booming?

“Increasing Rate of Sports Injuries”

The United States accounted for around 35.5% market share in the global market in 2022.

The rapid increase in sports injuries, the popularity of minimally invasive procedures, rising investments in orthopedic treatments, and the significant presence of top medical device manufacturers are the main drivers of market growth in the United States

The number of sports-related injuries in the United States has rapidly increased over time. For instance, a study by the Journal of Sports and Health Science, 2020 found that tendon and ligament injuries were the most common form of injury observed throughout the study in both males and girls.

The increasing occurrence of sports-related injuries will thus continue to fuel the expansion of the soft tissue anchors market in the United States

Will the Germany Be a Lucrative Market for Soft Tissue Anchors?

“Growing Geriatric Population”

The Germany market held around 5.0% market share in the global market in 2022.

Demand in the German market is being driven by an increase in the use of advanced technology and a rise in injuries among the elderly population.

The elderly population is at a high risk of suffering fractures from accidents. Over 55-60 year-olds are most likely to experience this. According to a study by the Population Reference Bureau, 2021, 22% of the German population were 65 or older in 2021. This number is anticipated to increase significantly over the next few years, propelling the market in Germany.

How is Japan Emerging as a Prominent Market?

“Growing Efforts from Government to Improve Outpatient Facilities”

Japan held a market share of about 7.2% of the global market in 2022.

The market is anticipated to grow as a result of an increase in orthopaedic surgery procedures and rising adoption of advanced medical technology.

In Japan, the prevalence of chronic diseases has increased over time, and the trend is expected to persist over the course of the projected period. Moreover, the market is expected to experience profitable expansion over the coming years due to an ageing population that is on the rise and an established healthcare system.

  • In Japan, radiographic osteoarthritis affects more than 60% of people over 60, while symptomatic osteoarthritis affects more than 26% of people over 60.

Thus, the prevalence of osteoarthritis will create lucrative demands for the market in the future.

Category-wise Insights

Which Product Segment is Driving the Global Market?

“Rising Demands for Absorbable Products in the Market”

The absorbable segment held around 77.0% share of the total market in 2022.

The segment's dominance is attributable to an increase in orthopedic surgeries, which has boosted demand for absorbable soft tissue anchors. Orthopedic surgeons prefer absorbable products because these overcome the shortcomings of non-absorbable ones such loosening, migration, and chondral damage with metallic anchors.

Which Segment by Material is Driving Global Soft Tissue Anchors Market Growth?

“Orthopedic Surgery Remains a Key Market Prospect for Bio-Composite Suture Anchors”

The bio-composite suture anchors segment held around 51.7% share of the total market in 2022.

The increasing use of bio-composite suture anchors by end users is responsible for the segment's development.

Tricalcium phosphate (TCP) or hydroxyapatite (HAP) are examples of reabsorbed materials that are used to make bio-composite suture anchors. These sutures lower the risk of articular injury, promote bone development after reabsorption, and lessen the dangers related to implant removal. As a result, end users favor bio-composite suture anchors the most.

Which Suture Anchor based on Tying Dominate the Global Market?

“Various Benefits Offered by Knotless Suture Anchors Encouraging Their Higher Adoption”

Knotless suture anchors segment held around 66.4% share of the total market in 2022.

knotless suture anchors held significant share of the global market in 2022 due to their increased use in a variety of end users because they are easier to use and require less time to insert than knotted anchors.

Likewise, knotless anchors offer the benefit of avoiding the issues and possibly cutting down on overall surgery time as well, this is anticipated to further spur the segment's growth.

Which End User Highly Utilizes the Soft Tissue Anchors?

“Patient’s Preference for In-Hospital Care Treatment”

The hospitals segment held around 59.8% share of the total market in 2022.

Growing rates of sports-related and road accidents and injuries, an increase in the number of surgeries performed in hospitals, and a rise in the number of patients choosing to receive their treatment in hospitals are all factors driving this segment's growth, and the trend is expected to continue throughout the forecast period.

Competition Landscape

To increase their sales and get a competitive edge in the global market for soft tissue anchors, manufacturers are using a variety of strategies methods. The key strategies includes acquisition of competitor’s division and certification approvals for the product.

Some key instances of development include:

  • In Feb 2021, the knotless suture anchor system "CITREFIX" made using the advanced synthetic polymer CITREGEN by Acuitive Technologies was given U.S. FDA approval for commercialization.
  • In Jan 2021, the Extremity Orthopedics division of Integra LifeSciences Holdings Corporation was acquired by Smith & Nephew for US$ 240 Million.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the soft tissue anchors market, which are available in the full report.

Soft Tissue Anchors Industry Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2012 to 2022

Market Analysis

  • USD Million for Value
  • Units for Volume

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Türkiye
  • GCC Countries
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Material
  • Tying Type
  • End User
  • Region

Key Companies Covered

  • Smith & Nephew plc.
  • Zimmer Biomet Holdings, Inc.
  • ConMed Corporation
  • Arthrex, Inc.
  • Johnson and Johnson (DePuy Synthes, Inc.)
  • Medtronic plc
  • Stryker Corporation
  • Parcus Medical, LLC.
  • Wright Medical Group N.V.
  • Teknimed SA
  • MedShape, Inc.
  • South America Implants S.A.
  • Anstem Medical
  • Groupe Lepine S.A.
  • In2Bones SAS
  • Tulpar Medical Solutions
  • Neosys Surgical Solutions LTD
  • Biocomposites Ltd
  • HNM Medical
  • Surgical Frontiers

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Soft Tissue Anchors Industry Research

Product:

  • Absorbable
  • Non Absorbable

Material:

  • Metallic Suture Anchor
  • Bio-absorbable Suture Anchor
  • PEEK Suture
  • All Suture
  • Bio-composite Suture Anchor

Tying Type:

  • Knotted Suture Anchors
  • Knotless Suture Anchors

End User:

  • Hospitals
  • Emergency Medical Services
  • Clinics
  • Ambulatory Surgical Centers

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

- Companies Covered in This Report -

  • Medtronic Plc.
  • Smith & Nephew plc.
  • Zimmer Biomet Holdings, Inc.
  • ConMed Corporation
  • Arthrex, Inc.
  • Johnson and Johnson (DePuy Synthes, Inc.)
  • Stryker Corporation
  • Parcus Medical, LLC.
  • Wright Medical Group N.V.
  • Teknimed SA
  • MedShape, Inc.
  • South America Implants S.A.
  • Anstem Medical
  • Groupe Lepine S.A.
  • In2Bones SAS
  • Tulpar Medical Solutions
  • Neosys Surgical Solutions LTD
  • Biocomposites Ltd
  • HNM Medical
  • Surgical Frontiers

- Frequently Asked Questions -

The global market is currently valued at around US$ 671.3 Million in 2022.

The global market size is estimated to reach a valuation of US$ 709.3 Million by the end of 2023.

Sales of the market are set to witness growth at a CAGR of 5.9% and be valued at around US$ 1.25 Billion by 2033.

Demand for the global market increased at an 4.7% CAGR from 2012 to 2022.

The U.S., Japan, Canada, China, and Germany account for most demand within the market, currently holding around 60.4% market share.

The U.S. accounts for around 35.5% share of the global market in 2022.

The China market held a share of about 5.6% in the global soft tissue anchors market in 2022.

The Germany market held around 5.0% market share in the global market in 2022.

Smith & Nephew Plc, Medtronic plc, Stryker Corporation, and Johnson & Johnson areealthcarehhhhh among others are the key players in the global market.

An increasing incidences of Sports injuries, rising demands for orthopedic surgeries, and rapidly growing geriatric population are few of the factors propelling the global market.

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