GMI Research estimated the global Artificial Tendon and Ligament market at USD 41.5 million in 2017 and is forecast to grow at a CAGR of 14.5% during 2018-2025.
The key factors bolstering the market growth are rising awareness regarding the appropriate treatment in sports injuries. In addition, awareness regarding advanced surgical procedure and introduction of emerging treatments such as anterior cruciate ligament (ACL), active biosynthetic composite (ABC) will further boost the market growth. For instance, as per the NCBI studies ACL is the sixth most common surgery performed as orthopaedic surgery for treating knee injury.
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Based on Implant, Silastic-Rod segment are anticipated to grow at fastest CAGR during 2018-2025
Silastic-Rod segment is expected to lead the market revenues during the forecast period due to increasing road accidents, sports injuries, fractures and rising awareness regarding the benefits of Silastic-rod over autografts and its unique advantage over allografts such as reduced procedural time, faster recovery, and higher availability than donor tendon grafts. Moreover, Silastic-Rod is the most used implant type and is expected to boost the growth of Artificial Tendon and Ligament market during the forecast period.
Knee Injuries segment held the largest share in the 2017 in the market, and is predicted to grow at a significant growth rate during the forecast period due to increasing incidence, improving treatment seeking rate and the ongoing investments in R&D of Ligament Therapeutics.
Hospitals segment led the market in the 2017, and is predicted to grow at a significant growth rate during the forecast period due to increasing awareness regarding sports injury and advanced technological machines helping in risk free surgery and increasing awareness regarding injuries sand its harmful effects.
Players, such as Xiros Ltd., Mathys AG Bettlach, Corin Group are focusing on distribution networks and R&D activities to expand their product portfolio.
Based on geography, Europe held the largest revenue share in the market in 2017 due to rising incidence of sports-related injuries, attributed to the widespread participation of people in sports. In addition, rise in the R&D activities and growing prevalence of patients with sports injury are also anticipated to steer the market growth in this region. North America has also registered a significant growth rate in global Artificial Tendon and Ligament market due to rising incidence of sports-related injuries, especially in developed countries such as the U.S. and the Canada. Asia-Pacific is expected to grow substantially in the global Artificial Tendons and Ligaments market owing to increasing government and private funding for the healthcare infrastructure, rising medical tourism and increasing adoption of Artificial Tendons and Ligaments for the sports injury treatment in the region over the coming years.
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Various notable players operating in the market include Xiros Ltd., DePuy Synthes, Stryker Corporation, Corin Group, Cousin Biotech, Smith & Nephew Plc, Mathys AG Bettlach, FX Solutions, Orthomed SAS, FH Orthopaedics among others.
The global Artificial Tendon and Ligament market has been segmented based on surgery type, end user and key geographies. Based on surgery type, the market has been segmented into Knee Injuries, Foot and Ankle Injuries, Shoulder and Elbow Injuries, Others Injuries. Based on end user, the market has been segmented into Hospitals, Ambulatory Surgical Centre, Others.
The research report “Global Artificial Tendon and Ligament Market” provides in-depth analysis of Artificial Tendon and Ligament market, globally, based on indication, end user and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers fuelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for Artificial Tendon and Ligament market. The report also analyses the competitive landscape, major players and their strategies and opportunities in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
Key questions answered in this research report:
1. At what pace is Artificial Tendon and Ligament market growing, globally? What will be the growth trend in future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints over the coming years?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Artificial Tendon and Ligament market?
4. What are the various application areas and how they are poised to grow?
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