Syndesmosis Implant Systems Market
Global Market Study on Syndesmosis Implant Systems: Demand Rising for Suture Button Implants Across Regions
Syndesmosis Implant Systems Market is segmented by Titanium-based Plate Implants, Stainless Steel-based Plate Implants, Ankle Fractures, Specialized Orthopaedic Clinics
The emergence of new technologies and rise in investments for R&D activities are revolutionizing orthopaedics implant systems. There has been a significant shift from metal implant systems to biodegradable implant systems. This is due to the advantages that biodegradable material-based implant systems offer in comparison to traditional metal implant systems. One major advantage of using biodegradable material-based implant systems is that they do not require a second surgery, as these implants degrade automatically after a period of time.
In addition, they also lower the probability of side effects that can be caused post implantation. This is leading to a rise in adoption of biodegradable material-based implant systems, which is having a positive impact and resulting in the expansion of the syndesmosis implant systems market size.
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- Zimmer Biomet
- Anthrax, Inc.
- Smith & Nephew
- Wright Medical Group N.V.
- Exactech, Inc.
- Mortise Medical
- Inion Oy
- Paragon 28, Inc.
Increasing Incidence of Sports Injuries & Fractures Driving Market Growth
There has been a rapid rise in the number of sports injuries and fractures over the last few years. Growing awareness about the importance of sports along with large number of people participating in sports activities is leading to a rise in sports injuries and fractures. According to a paper published by Stanford Children’s Health in 2020, around 30 million teens and children participate in some form of organized sports in the U.S. and more than 3.5 million injuries occur as a result of participation in these sports each year. Hence, it can be concluded that, rising injuries and fractures associated with sports activities will lead to substantial growth of the overall syndesmosis implant systems market.
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Regional Outlook of Syndesmosis Implant Systems Market
North America exhibits a significant 38.2% syndesmosis implant systems market share, and this market is expected to expand at a CAGR of 8%. Major factors contributing to the overall growth and dominance of North America in the global syndesmosis implant systems market is the rise in sports injuries among the population, increase in demand for technological advancements in syndesmosis implant systems, and the presence of prominent market players in this region. Moreover, high patient population and increasing incidence of foot and ankle sprains are further contributing toward the growth of North America in the global syndesmosis implant systems market.
South Asia is expected to experience the highest growth in the global syndesmosis implant systems market at a CAGR of 9% over the forecast period of 2020 to 2030. This is due to the rise in emphasis on providing good quality healthcare services in developing economies in this region.
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Competitive Landscape of Syndesmosis Implant Systems Market
The syndesmosis implant systems market is categorised as a consolidated market, with major players such as Zimmer Biomet, Smith & Nephew and Wright Medical Group N.V., and Anthrex Inc. contributing a major revenue share and operating across all regions. Manufacturers in the syndesmosis implant systems market are involved in acquiring companies in order to expand their product portfolios and accelerate growth opportunities in the global syndesmosis implant systems market.
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COVID-19 Impact on Syndesmosis Implant Systems Market
The outbreak of COVID-19 has led to a setback in revenue as well as overall growth of the syndesmosis implant systems market. The virus has affected more than 100 countries, leading to lockdowns during the first half of 2020. This led to the postponement of non-essential procedures, thereby reducing the volume of procedures being carried out during the pandemic.
In addition, as a precautionary measure, a large number of people are still avoiding hospital visits in order to avoid coming in contact with the virus. Hospitals as well are majorly focusing on reducing the overall burden of the pandemic, leading to a temporary drop in demand for all non-essential medical procedures, which includes implantation of syndesmosis implant systems.
An extensive analysis of the syndesmosis implant systems market has brought our analysts to a conclusion that, the market is growing at a significant pace. Increasing incidence and prevalence of sports injuries and fractures is expected to boost the growth of the syndesmosis implant systems market during the forecast period.
In addition, rising awareness amongst healthcare professionals about the advantages that biodegradable implant systems offer is leading the biodegradable implant systems segment to gain more traction in the. North America and Europe together hold more than 70% of revenue share in the syndesmosis implant systems market, due to rise in R&D activities leading to technological advancements, and growing incidence of ankle and foot injuries in these regions.
Key Segments of Syndesmosis Implant Systems Market
PMR’s study on the syndesmosis implant systems market offers information divided into four important segments—product, application, end user, and region. This report offers comprehensive data and information about the important market dynamics, and growth parameters associated with these categories.