In this era of globalization, the entire world is the marketplace and hence businesses seek to adopt a global market research report. Global Orthopedic Soft Tissue Repair Market report helps to know about how the market is going to perform in the forecast years by giving information about market definition, classifications, applications, and engagements. This market analysis brings into focus various segments that are relied upon to witness the quickest business development amid the estimate forecast frame. In no doubt, today’s businesses highly demand the market research analysis before taking any verdict about the products.
A winning Global Orthopedic Soft Tissue Repair Market report enlists the leading competitors and provides the insights about the strategic industry analysis of the key factors influencing the industry. The data and the information concerning the industry are derived from consistent sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. The statistics are signified in graphical and tabular format for a clear understanding on facts and figures. To prosper in this competitive market place, businesses are highly benefited if they adopt innovative solutions such as Global Orthopedic Soft Tissue Repair Market research report.
Global Orthopedic Soft Tissue Repair Market is registering a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market can be attributed due to a surge in the cases of sports-related injuries across prime age-groups. The rising growing incidence of musculoskeletal conditions such as arthritis in the elderly population is contributing to the market growth.
Few of the major market competitors currently working in the global orthopedic soft tissue repair market are LifeCell, Johnson & Johnson Services Inc., Smith & Nephew Plc, BD, Wright Medical Group N.V., Medtronic, LifeNet Health, Boston Scientific Corporation, Arthrex Inc., Integra LifeSciences Corporation, Tissue Regenix, Parcus Medical LLC, JRF Ortho, RTI Surgical Holdings, Inc., MTF Biologics, CONMED Corporation, DePuy Synthes, Zimmer Biomet, Stryker, Bio-Tissue, XTANT MEDICAL, TEIJIN LIMITED and AlloSource among others.
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The major factors driving the growth of this market are the increasing rate of accident & injuries, growth in aging population and rising healthcare expenditure. On the other hand, lack of awareness may hinder the growth of the market. On the other hand, lack of awareness may hinder the growth of the market. The orthopedic soft tissue repair market in the Global region is leading in North America.
Global Orthopedic Soft Tissue Repair Market By Therapeutic Site (Knee, Shoulder, Hip, Others), Product Type (Fixation Devices, Tissue Patch, Laparoscopic Instruments), Procedure (Anterior Cruciate Ligament, Rotator Cuff, Vaginal Prolapse, Lateral Epicondylitis, Achilles, Gluteal Tendon, Biceps Tenodesis, Hip Arthroscopy, Cruciate Ligaments Repair, Pelvic Organ Prolapse), End User (Hospitals, Ambulatory Centers, Orthopedic Clinics), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
There has been a surge in the road injuries and accidents which has driven the demand for the orthopedic soft tissue repair market. The orthopedic soft tissues are the cells which connect and surround the ligaments, skin, fat, tendons, fascia, cartilage and other connective tissues. The aging population has resulted in the deformation of the tissues. There are various procedures followed globally for the treatment of orthopedic soft tissues such as through minimally invasive (MI) procedures or open surgical procedures and arthroscopy.
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.
- The rise in geriatric and obese population is boosting the market growth
- Surge in healthcare expenditure globally is contributing the market growth
- The various technological advancements and innovations has driven the market growth
- The easy and quick availability of advanced surgical products is driving the market growth
- The lack of trained professionals is hindering the market growth
- High cost of procedures is hampering the market growth
- The availability of non-surgical alternatives is restraining the market growth
- The Limited reimbursements is hindering the market growth
INCREASING RATE OF ACCIDENTS AND INJURIES
Now a days, lack of awareness, and rising rash driving are causing the increase in the number of accidents and injuries. Common example is the accidents due to road traffics or vehicle accidents. Due to increasing rate of accidents and injuries, there is increase in the soft tissue injuries in muscles, tendons and ligaments which gives more pain in respect of swelling, stiffness and soreness. Sports injuries are very common amongst the athletes and also soft tissue injuries are caused due to regular exercises. Contact sports such as football, wrestling and soccer, quick sports such as running races, long jump and sports activities which require gymnastics, golf and other types of sports activities which leads to elbow sprain and hand sprain which comes under a type of soft tissue injuries. Other common types of injuries related to tendinitis, bursitis, contusions and others.
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
Due to the rise of aging and growing populations, changing lifestyle, improvements in infrastructure along with different related projects, increase in the per capita incomes, market expansion, treatment and technology advances and rise in the chronic as well as lifestyle related diseases, and many more healthcare has become the one of the most rapidly growing sectors of the global economy. For instance, According to Trading Economics, disposable income of South Africa increased to 202 million in 2017.
Following are the few of the statistics related to the following given factors which has led to rise in the healthcare expenditure:
- According to World Health Organization (WHO), over the same period in South Africa, total healthcare expenditure in South Africa accounted for 8.5% of GDP, with an annual increase of 8.8% projected for 2013 and 2017.
- According to Centers for Disease Control and Prevention (CDC), in 2015, total national healthcare expenditure was $3.2 trillion
- According to Eurostats, in 2014, healthcare expenditure was EUR 321 million in Germany which is equal to 11% of GDP.
- This shows that rise in the healthcare expenditure will drive the orthopedic soft tissue repair market.
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