Global Orthopedic Soft Tissue Repair Market is expected to reach USD 10,675.18 million by 2024 from USD 6,167.25 million in 2016, at a CAGR of 7.2%. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Segmentation: Global Orthopedic Soft Tissue Repair Market
Global Orthopedic Soft Tissue Repair Market
By Product Type
• Fixation Devices,
• Tissue Patch,
• Laparoscopic Instruments
• By Procedure
• Anterior Cruciate Ligament (ACL),
• Rotator Cuff,
• Vaginal Prolapse,
• Lateral Epicondylitis,
• Gluteal Tendon
By End User
• Ambulatory Center,
• Orthopedic Clinics
• North America,
• South America,
• Middle East and Africa
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Drivers: Global Orthopedic Soft Tissue Repair Market
The factors such as increasing rate of accidents and injuries, growth in the aging population and rise in the healthcare expenditure are the major factors that are driving the growth of the orthopedic soft tissue repair market.
Following are some of the statistics related to the increase in the rate of accidents and injuries:
• According to Stanford children’s health, children under the age of 14 or upto 14, i.e; nearly 3.5 million children gets hurt while playing sports or during the recreational activities
• According to U.S. Centers for Disease Control (CDC), each year around 2 million injuries of high school athletes, 5 lacs visits from doctor and 30 thousand hospitalizations took place.
• According to Association for Safe International Road Travel (ASIRT), under the age 25, nearly 400,000 people die due to road accidents each year globally on an average over 1,000 a day.
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GROWTH IN THE AGING POPULATION
With the growing geriatric population across the world, cells of the body grew old due to the finite time it has. The skin begins to sag and enables for wound contraction along with functional disorder. The elder people has thinner dermis which in result leads to continuous small injuries such as sprains, falls, chronic wounds and pressure ulcer, are driving the orthopedic soft tissue repair market. For instance, According to Population Reference Bureau, in 2016 number of Americans between the age of 65 and above was 46 million and by 2060 this number will rise to 98 million. The group share of 65 and older age will rise to 24% from 15%. Also, according to U.S. according to National Institute of Aging, in 2015, the aging population between 65 years and above in America is expected to double by reach 88 million in 2020 from 48 million. Also, according to data published by World Population Prospects the number of aged population (60 years and above) increased significantly in most of the countries and regions in the recent years and this growth is expected to accelerate in the coming years.
RISE IN THE HEALTHCARE EXPENDITURE
Major Players: Global Orthopedic Soft Tissue Repair Market
Some of the Major Players Operating in this Market are:-
• Smith & Nephew plc,
• Arthrex, Inc,
• Zimmer Biomet,
• Acelity L.P. Inc.,
• Koninklijke DSM N.V.,
• De Puy Synthes (J&J),
• W. L. GORE & ASSOCIATES INC,
• CONMED CORPORATION,
• among others.
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