Pune, India, March 31, 2021 (GLOBE NEWSWIRE) — The Global Orthopaedic Soft Tissue Surgical Repairs Market was valued at USD 14,982.9 billion in 2020 and is projected to grow at a CAGR of 7.3% during the forecast period till 2028. However, with the COVID-19 impact, the global orthopaedic soft tissue surgical repairs market was valued at USD XX billion in 2020.
The orthopaedic soft tissue are the ligament, muscle, fascia, skin, cartilage, and fibrous tissues connecting cells. Using orthopaedic soft tissue repair devices, tissue damage may be remedied. The orthopaedic soft tissue is repaired either by open surgery or by minimally invasive arthroscopy procedures. Increased demand for minimally invasive procedures has created growth prospects for the market in recent times. Minimally invasive surgery to replace the knee involves less muscle and tendon perturbations, which makes the reconstruction more natural.
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Further, the launch of multidimensional surgical imaging platforms is also expected to play a key role in market development. For example, in July 2019, Mercy Medical Center launched O-arm, a platform for multidimensional surgical imaging for different surgeries. It provides the patient’s anatomy in real time as well as decreases radiation exposure. Such multidimensional surgical imaging platforms can help orthopedic surgeons to get a clear idea about the soft tissue repair surgical procedures.
Apart from these, increasing awareness about development, marketing, and advancement of advanced plasma platelet-rich devices would fuel market growth in the long term. Technological advancements and innovations will continue in the area of orthopaedic connective tissue repair. In the field of reconstruction in anterior cruciate ligament (ACL), new advances such as innovative chirurgical techniques will enhance the efficacy of such procedures. Such innovations and developments would lead to further market growth.
Some Noted Developments Considered in the Report:
- In March 2019, Corin Group announced an agreement for the acquisition of U.S.-based OMNI Orthopaedics Inc., a pioneer in robotic-assisted total knee replacement. This agreement aims to accelerate Corin’s strong organic growth with a focused merger & acquisition strategy.
- In February 2020, Medtronic plc announced the acquisition of Digital Surgery, a privately-held pioneer in surgical artificial intelligence (AI), data and analytics, and digital education and training. The acquisition of Digital Surgery will enhance the Medtronic robotic assisted surgery platform, and it has applicability for the Medtronic broader portfolio.
- In June 2019, SMITH & NEPHEW PLC acquired Brainlab Orthopaedic Joint Reconstruction Business. The acquisition supports the strategy of Smith & Nephew to invest in best-in-class innovations that will advance its digital multi-asset surgery and robotic ecosystem.
COVID-19 Impact on Global Orthopaedic Soft Tissue Surgical Repairs Market
The QMI team has closely monitored the impact of COVID-19 on the global orthopaedic soft tissue surgical repairs industry. It has been observed that the COVID-19 situation has negatively impacted the orthopaedic soft tissue surgical repairs market, as due to COVID-19, doctors and healthcare professionals have not been able to concentrate on their regular patients. Due to the ongoing pandemic, there is a shortage of doctors as well as support staff and ventilators, equipment, and medicines. Thus, researchers have identified an alarming shortage of critical orthopaedic devices.
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Further, orthopaedic doctors are being redeployed for treating COVID 19 patients, as this disease affects bones and joints of the patient. There is a compulsory training needed for the orthopaedic community to understand the symptoms of the disease. However, the condition is expected to improve in the coming years due to the ongoing efforts to curb the disease by various government and non-government organizations. All these factors are mentioned and analysed in this report in details.
Global Orthopaedic Soft Tissue Surgical Repairs Market, By Product
Based on product, the orthopaedic soft tissue surgical repairs market is classified into tissue patch/mesh, fixation products, and laparoscopic instruments. The fixation product segment is further subdivided into interference screws, suture anchors, and others. Among these segments, the laparoscopic instruments market segment held the largest market share in 2019. The demand for laparoscopy instruments in the orthopaedic soft tissue surgical repairs market has been increasing due to the growing preference for safer and less invasive surgical approaches.
Laparoscopic instruments are made of durable materials. They are commonly made of stainless steel of high quality. All instruments have a very narrow shaft so that laparoscopic ports may fit within them. Usually, their size ranges from 3 mm, 5 mm, and 10 mm. There are a number of tips available for manipulating the tissue, and the ergonomic style of handling may allow to rotate, grip, and lock in a precise fashion.
These laparoscopic instruments are used along with a laparoscope. A laparoscope is basically a thin telescope equipped with a cold light source and a video camera. During surgery, inert gases such as carbon dioxide are used to inflate the abdominal area, thereby raising the gap between the organs and the abdominal wall. This helps expand the operating zone.
Global Orthopaedic Soft Tissue Surgical Repairs Market, By Procedures
Based on the procedure, the orthopaedic soft tissue surgical repairs market is classified into rotator cuff repair, epicondylitis, Achilles tendinosis repair, gluteal tendon repair, cruciate ligaments repair, and others. Among these, the cruciate ligaments repair market segment is holding the largest market share in the orthopaedic soft tissue surgical repair market.
Start-ups in the orthopaedic devices market will be helping to find out the new solution for orthopedic soft tissue surgical repair procedures. For instance, Miach Orthopaedics, a U.S.-based start-up, has developed bioengineered surgical implants for connective tissue repair. The bridge-enhanced anterior cruciate ligament repair is a bridging scaffold that helps heal the torn anterior cruciate ligament (ACL).
The implant fits between the ends of the ruptured anterior cruciate ligament and contains a small amount of the wound blood of the patient. The device is currently undergoing further investigation in the context of clinical trials. Once the implant gets approval from the concerned authority, this procedure will help promote the growth of the crucial ligament repair segment.
Global Orthopaedic Soft Tissue Surgical Repairs Market, By Injury Location
Based on the injury location, the orthopaedic soft tissue surgical repairs market is classified into hip, knee, shoulder, and others. Among these segments, the hip segment is holding the largest market share in the orthopaedic soft tissue surgical repair market. However, knee injuries, which are the most common form of musculoskeletal disease, are the foremost contributors to the orthopaedic soft tissue surgical repairs market.
In 2019, there were 703 million people in the world aged 65 or more, according to the United Nations. In 2050, it is projected that the number of older people will double to become 1.5 billion. Overall, the proportion of the population aged 65 or older grew from 6% in 1990 to 9% in 2019. By 2050, this proportion is expected to increase further to 16 percent, with one in six people worldwide aged 65 or older. With the rising geriatric population, the incidence of musculoskeletal diseases like knee injuries is expected to grow further. This, in turn, will fuel the growth of the market for orthopaedic soft tissue surgical repair market and the knee injuries segment.
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Global Orthopaedic Soft Tissue Surgical Repairs Market, By Region
Based on regions, the global orthopaedic soft tissue surgical repairs market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The soft tissue repair market is a well-established market in the North American region, particularly in the United States and Canada. In North America, the market is being driven by a growing number of FDA approvals and product launches, progressive regenerative medicine growth, and the presence of key market players. Moreover, a well-established healthcare industry and better reimbursement facilities in the region will help the region capture the largest market share in the future.
The market in Asia Pacific is expected to witness significant growth during the forecast period due to the increasing number of surgical procedures such as hernia repair, an increase in product offerings in China and Australia, and rapid development of the medical devices industry.
In 2019, the Chinese national medical product administration (NMPA) announced that it would immediately enact new regulatory changes. The NMPA, China’s FDA equivalent, is now in the process of approving local production of already approved medical products for import into China. As of 2018, China’s medical device market revenue amounted to approximately USD 78.8 billion, which has shown double-digit growth in the last 10 years.
The increased penetration of medical devices in countries such as Japan and an increasing geriatric population in India are also going to drive the growth of the Asia Pacific market. Further, in 2017, India’s 495,056 medical travellers were sure to say that Indian health tourism was exceptionally good. It is ideal for medical tourists because of advanced facilities, skilled doctors, and the availability of low-cost therapy. Moreover, the governments of the Asia Pacific countries have made various efforts to improve healthcare services and provide better infrastructure. All these factors will drive the growth of the Asia Pacific market.
Some Major Findings of the Orthopaedic Soft Tissue Surgical Repairs Market Report Include:
- Major global market trend & forecasts analysis along with the country specific market analysis for up to 25 countries
- An in-depth global orthopaedic soft tissue surgical repairs market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of the major key market players operating in the global orthopaedic soft tissue surgical repairs market, which include Smith & Nephew Inc., Stryker corporation, Arthrex, Inc., Medtronic, Johnson & Johnson, Microport scientific corporation, RTI surgical, Colfax corporation, and others.
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players along with their major investments in the last five years
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global orthopaedic soft tissue surgical repairs market
- Impact of COVID-19 on the global orthopaedic soft tissue surgical repairs market
Browse key industry insights spread across 207 pages with 140 market data tables and 129 figures & charts from the report, “Orthopedic Soft Tissue Surgical Repairs Market by Product (Laparoscopic Instruments, Fixation Products, Tissue Patch/Mesh, Synthetic Tissue Patch/Mesh), Procedures (Rotator Cuff Repair Procedures, Epicondylitis Repair Procedures, Gluteal Tendon Repair Procedures, Achilles Tendinosis Repair Procedures, Other Repair Procedures), Injury Location (Hip Injury Location, Knee Injury Location, Shoulder Injury Location, Other), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) — Market Size and Forecasting (2016–2028)” in depth analysis along with the table of contents (ToC).
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