Soft Tissue Anchors Market
Global Market Study on Soft Tissue Anchors: Increasing Geriatric and Obese Population Leading to Growing Patient Pool
Soft Tissue Anchors Market is segmented by product that is Absorbable Soft Tissue Anchors, Non-absorbable Soft Tissue Anchors, also by material type that is Metallic Suture Anchors, Bio-absorbable Suture Anchors, PEEK Suture Anchors, Bio-composite Suture Anchors, All Suture Anchors.
Soft tissue anchors are widely used in orthopedic surgeries. An orthopedic injury may occur due to acute trauma or repetitive motion of the body. Sports and heavy physical activities are the major reasons for bone fractures and injuries.
Increasing number of sports injuries needing orthopedic intervention such as rotator cuff surgery, torn ligament repairs, removal of loose bones or cartilages, etc., are anticipated to drive the growth of the soft tissue anchors market.
Dislocation of the shoulder is a common occurrence among athletes, which may result into permanent damage if not treated on time. The Arthroscopic Bankart Repair method using soft tissue anchors is the most preferred method for the treatment of shoulder dislocation in the most minimally-invasive manner.
Additionally, osteoporosis disease frequency and resultant fracture is increasing among the population, which will boost the growth of the soft tissue anchors market.
Find Out More about the Report Coverage
- 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.
- Anstem Medical
- Groupe Lepine S.A.
- Neosys Surgical Solutions LTD
- Biocomposites Ltd
Growing Geriatric and Obese Population Leading to Increase in Orthopedic Injuries
The geriatric population commonly exhibits low bone density, and thus, is more prone to musculoskeletal injuries and diseases. The number of geriatric individuals is increasing across the globe, which is directly aiding the growth of the soft tissue anchors market, as with age, the prevalence of orthopedic injuries increases.
Osteoporosis and obesity are two common diseases whose prevalence is increasing. Patients suffering from obesity are more likely to have certain orthopedic conditions that increases the need for surgery.
A sedentary lifestyle also significantly contributes to short- and long-term health problems, which include obesity, osteoporosis, and others.
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Demand for Soft Tissue Anchors Experiencing Decline Amid COVID-19 Pandemic
A majority of the hospitals in Europe and the United States have been overwhelmed with thousands of COVID-19 patients, with many of them in critical condition. Doctors have been compelled to treat these patients on priority and postpone other non-critical surgeries.
Moreover, stringent lockdowns imposed by governments are causing supply chain disruptions of soft tissue anchors. Manufacturers are struggling with the challenges imposed by the pandemic, as their finances have been severely hit.
However, through collaborations with other industry leaders and governments, the market will regain steady growth by the third quarter of 2020.
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East Asia and South Asia to Witness Increased Demand
North America and Europe currently hold more than 55% of the global soft tissue anchors market. High prevalence of orthopedic disease such as osteoporosis is propelling the demand for soft tissue anchors in North America.
However, East Asia and South Asia are poised for significant growth over the forecast period, owing to factors such as large population base, increases burden of sports and orthopedic injuries, and wide use of soft tissue anchors in orthopedic surgeries. Increased R&D investments and government initiatives are expected to boost the demand for soft tissue anchors in these regions.
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An extensive analysis of the soft tissue anchors market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, absorbable soft tissue anchors is the target segment for major players, and hence, this segment dominates the global soft tissue anchors market by product type in term of market growth.
Europe and North America collectively hold more than 55% of revenue share due to the high adoption of soft tissue anchors in these regions. Emerging countries such as Brazil, India, and China are expected to offer lucrative opportunities for the soft tissue anchors market, owing to increasing awareness and initiatives by local governments working towards a universal reimbursement system for orthopedic surgeries.
Key Segments of Soft Tissue Anchors Market
PMR’s study on the soft tissue anchors market offers information divided into five important segments - product, material, tying type, end user, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Key Questions Answered in the Report
- How much is the soft tissue anchors market worth?
The soft tissue anchors market is estimated to be worth US$ 600 Mn in the year 2021.
- What will be the demand outlook?
The global soft tissue anchors market is expected to witness a CAGR of 6% between 2021 and 2031.
- What was the last 5 year market CAGR?
The soft tissue anchors market witnessed a CAGR of 4.5% between 2015 and 2020.
- What are the key trends of soft tissue anchors market?
The latest trend is that of usage of Arthroscopic Bankart Repair method for treating shoulder dislocation in a minimally-invasive manner.
- What is driving the demand for soft tissue anchors?
Increase in frequency of osteoporosis disease followed by resultant fracture is driving the demand for soft tissue anchors.
- What is the market share of top 5 players?
The top 5 players like Smith & Nephew plc, Zimmer Biomet Holdings, Inc., ConMed Corporation, Arthrex, Inc., and Medtronic plc account for more than 40% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, UK, Russia, India, and China.
- What is North America’s market Outlook?
North America will continue to hold more than 30% of the market share to the US being the flag bearer.
- At what percentage soft tissue anchors market is going to register growth in Europe?
Europe is expected to register growth at the rate of 5% in the soft tissue anchors market between 2021 and 2031.
- What is the key market statistics in Korea and Japan?
Japan and South Korea are expected to grow steadily in the soft tissue anchors market between 2021 and 2031.