Orthopedic Soft Tissue Repair Market is Expected to Reach USD 8.5 Billion Globally in 2019

The Orthopedic Soft Tissue Repair Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019, the global orthopedic soft tissue repair market was valued at USD 5.6 billion in 2013 and is expected to grow at a CAGR of 7.2% from 2013 to 2019, to reach an estimated value of USD 8.5 billion in 2019.

 

Globally, rise in aging population is playing a major role in increasing the incidence of sports injuries as aging diminishes body functions and movements which makes the body more prone to injuries. As a result, the market for orthopedic soft tissue repair is expected to grow at a CAGR of about 7.2% during 2013 – 2019.

 

Some of the key driving factors for the orthopedic soft tissue repair market are aging population, increased obesity rate, introduction of new medicine technologies, high incidence rate of soft tissue damage and sports injuries, increasing healthcare expenditure and lack of substitutes for soft tissue repair surgery. However, the market faces some restraints such as lack of awareness among people about orthopedic soft tissue repair, rising cost of surgical procedures and limited reimbursements by insurers for orthopedic sports based injuries. The orthopedic soft tissue repair market is also witnessing shift from metallic to bio absorbable (non-metallic) anchor devices. Rising popularity of robot-assisted surgeries over traditional surgical methods and geographic expansion by leading players in developing countries are major trends in the market.

 

North America, including the U.S. has the largest orthopedic soft tissue repair market and Asia is the fastest growing market for orthopedic soft tissue repair. Some of the fastest growing markets for orthopedic soft tissue repair are China, India and Japan. Participation in sports activities is constantly on the rise, which is resulting in high incidence of orthopedic sports injuries. For instance, in August 2013, USA Today, a news and information company reported that more than 1.35 million youngsters face severe sports injuries in the U.S. every year. Similarly, according to the European Injury Database (EU IDB) catalogue, annually on an average 6.1 million people in the European Union are treated in hospitals for sports injuries. 

 

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ACL/PCL reconstruction is the largest practiced procedure in the orthopedic soft tissue repair market and it is expected to grow at a CAGR of about 8.3% during 2013 – 2019. Some of the other major procedures for orthopedic soft tissue repair are Meniscal Repair, Hip Arthroscopy, Rotator Cuff, Shoulder Labrum and Biceps Tenodesis. Globally, majority of knee injury incidences are reported during sports followed by shoulder and hip injuries. Aging is considered as one of the main factors which causes rise in orthopedic soft tissue injuries including knee injuries. Aging causes weakening of bones, loss of proper bodily functions, decreased movements and flexibility leading to more cases of knee injury.

 

Smith & Nephew plc is the leading player in the orthopedic soft tissue repair market. Other major players include ArthroCare Corporation, LifeNet Health Inc. and AlloSource.

 

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The global orthopedic soft tissue repair market is segmented as follows: