Global Soft Tissue Repair Market, By Product Type (Synthetic, Allograft, Xenograft, and Alloplast), By Application (Breast Reconstruction, Hernia, Dermatology, Orthopedics, Dental, Vaginal Sling, and Others), By End User (Hospitals, Ambulatory Surgical Centers, and Clinics) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,943.4 Million in 2023 and is expected to exhibit a CAGR of 5.93% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Rising sports Injuries like ankle sprain, tendonitis, muscle strain injuries of the hip, bursitis, stress injuries due to youth's interest in sports, is expected to drive the market growth over the forecast period. For instance, according to a report published by National Centre of Biotechnology Information (NCBI), in August 2022, in a survey conducted on male professional football players in U.S., it was found that one of sixteen muscle and tendons injuries were traumatic with an acute onset. Overuse injuries with a gradual onset were more common among knee injuries, than among injuries to the lower back, foot, and hand muscles. There was only one nerve injury due to L4-L5 disc protrusion. Almost all muscle injuries occurred in noncontact situations.
Global Soft Tissue Repair Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic in various countries across the globe have greatly impacted the financial status of businesses across all sectors, including the private healthcare sector. The 2019 coronavirus disease (COVID-19) pandemic has casted a shadow over development activities around the world. Global political, financial and technical resources are being mobilized to contain the COVID-19 pandemic. The effects of this pandemic are long lasting, affecting all areas of human life and meant to slow down all development activities, including the ambitious Sustainable Development Goals (SDGs).
Public health activity is an equally important means of health systems to protect the health of communities and engage in disease prevention and healthy and productive lives. Sudden interruptions in the smooth delivery of health services, whether caused by man-made or natural disasters, can severely impact the most critical services. The COVID-19 pandemic is severely impacting ongoing health programs, treatment services and achievement of the Sustainable Development Goals. The COVID-19 pandemic has shown how vulnerabilities in health systems can have profound implications for health, economic progress, trust in governments, and social cohesion.
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources which were required to ensure safety in hospitals and provide treatment to patients with other diseases. This has impacted the overall healthcare market negatively.
During the COVID-19 pandemic, the Soft Tissue Repair market was negatively impacted due to the augmented demand for treatment options for soft tissue injuries and a decrease in the supply of drugs and treatment options to treat these injuries due to restrictions imposed by the government during COVID-19.
For instance, according to an article published in the PubMed Central in July 2020, a survey was conducted and it was found that the all hospitals have had to sort the urgency of their daily surgical procedures and consider non-surgical methods wherever possible.
Global Soft Tissue Repair Market: Key Developments
In August 2022, Boston Scientific Corporation, a worldwide developer, manufacturer and marketer of medical devices acquired Obsidio, a medical device company to extand its blood blocking portfolio. This acquition will help the global soft tissue repair market to expand during the forecast period as new strategies developed by the company will help in more product launches by the key players in the market.
In December 2020, ACell Inc, a regenerative medicine company, was purchased for US$ 300 million by Integra Lifesciences, U.S-based a medical device company,. This deal is intended to boost Integra Lifesciences tissue regeneration capabilities while complementing the company's current tissue technologies portfolio. This will drive the global soft tissue repair market over the forecast period as this will help in improving the technologies present for treating soft tissue repair injuries.
In February 2020, Integra LifeSciences, a leading global medical technology company, announced the launch of AmnioExcel Plus Placental Allograft Membrane, its latest wound care offering to support soft tissue repair. This will drive the global soft tissue repair market over the forecast period as new product launches will help in improving the technology.
In October 2020, Orthofix Medical Inc., a global medical device company with a spine and extremities focus, announced the launch of its new O-GENESIS Graft Delivery System, which is designed to deliver allograft, autograft or synthetic bone graft to orthopedic surgical sites. This is expected to drive the global soft tissue repair market in the forecast period as new product launches will help in expansion of the global soft tissue repair market.
Browse 37 Market Data Tables and 32 Figures spread through 190 Pages and in-depth TOC on “Global Soft Tissue Repair Market”- Forecast to 2030, by Product Type (Synthetic, Allograft, Xenograft, Alloplast), by Application (Breast Reconstruction, Hernia, Dermatology, Orthopedics, Dental, Vaginal Sling, Others), by End User (Hospitals, Ambulatory Surgical Centers, Clinics) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/soft-tissue-repair-market-1694
Key Takeaways of the Global Soft Tissue Repair Market:
- The global soft tissue repair market is expected to exhibit a CAGR of 9% during the forecast period, due to strong focus on reasearch and development leading to launch of technologically advanced products. For instance, in August 2020, Aroa Biosurgery Limited, a soft tissue regeneration company, announced that a study was published in international peer-reviewed journal PLOS ONE, which described the ability of components found within the Endoform ECM platform technology, its flagship extracellular matrix (ECM) to signal stem cells in laboratory models.
- Among product type, allograft segment is estimated to hold a dominant position in the global soft tissue repair market over the forecast period, due to rising usage of Mesh in various orthopaedic procedures, owing to its ability to reduce the surgery time accounts for a substantial portion of this market. For instance, according to an article published by Springer Nature, in June 2022, allograft studies have demonstrated successful osteointegration in different microenvironments (e.g. infectious, traumatic, degenerative, tumorous) and surgical sites. Hence, increasing use of allografts is expected to drive the market over the forecast period.
- Major players operating in the global soft tissue repair market include B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., and Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, Smith+Nephew, CONMED Corporation.
