Albany, NY -- (SBWIRE) -- 04/30/2018 -- Ligament Stabilizer Market: Overview
The severity of disregarding the injuries in knees, shoulder, spine or other joints can lead to rupture of ligaments. Excessive stress applied during movements of such body parts can also damage the internal ligaments. Attending to these ligament injuries is important to avoid being crippled or handicapped for life. Medical professionals, particularly surgeons, treating these injuries are highly dependent on the effectiveness of medical devices called ligament stabilizers. Reconstruction of the injured ligament is largely at the mercy of how the patients use these stabilizers, and on how these stabilizers can perform effectively.
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According to Transparency Market Research’s latest forecast report, the global demand for ligament stabilizers is expected to witness a robust traction in the near future. The study has assessed that the global ligament stabilizer market will expand at an estimated CAGR of 6% during the period, 2017-2026. The report further projects that more than US$ 3.5 Bn worth of ligament stabilizers will be sold globally by the end of 2026.
Knee Braces & Supports to Remain in Great Demand through 2026
Challenges faced by surgeons in performing curative surgeries for repairing the damaged cruciate ligaments have led to growing adoption of knee braces & supports. These devices can help surgeons overcome the biomedical disadvantage of multiple ligament injuries by allowing them to reconstruct or rehabilitate the ligament effectively. In addition, the incidence of ligament damage oriented from knee injuries continues to remain high across the globe. Leading ligament stabilizer manufacturers are considering the dominance of this body part in extending their production volumes. By the end of 2026, nearly 40% of the global ligament stabilizer market value is forecasted to be accounted by the sales of knee braces & supports. Foot and ankle braces & supports are also expected to represent leading products in the global ligament stabilizer market. The report has estimated that in 2017, more than US$ 500 Mn worth of foot and ankle braces & supports have been sold in the global ligament stabilizer market.
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Retail Pharmacies to Register Fastest Sales of Ligament Stabilizers over the forecast period
In 2017, hospital pharmacies recorded the highest sales of ligament stabilizers. The report projects that throughout the forecast period, hospital pharmacies will represent the largest sales channel for ligament stabilizers. More than two-fifth of revenues procured in the global ligament stabilizer market will be brought in by hospital pharmacies. However, retail pharmacies will register fastest sales growth, reflecting a CAGR of 7.5% over the forecast period. A majority of ligament stabilizers sold through retail pharmacies will be used in treating grade 1 ligament injuries. Mild in terms of damage, grade 1 injuries will represent a considerable share on global market value through 2026. Throughout the forecast period, almost every other ligament stabilizer sold in the global market will be used for treating grade 1 ligament injuries.
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Medical device manufacturers namely, DJO Global Inc., Breg, Inc., Bauerfeind AG, Össur hf., DeRoyal Industries, Inc., BSN Medical GmbH, 3M Company, Otto Bock Healthcare GmbH, THUASNE SA, and medi GmbH & Co. KG are observed as the key players in the global ligament stabilizer market. These companies will actively instrument the global production of ligament stabilizer over the forecast period. Understanding the anatomy of the injured body part and assessing the biomechanics of the damaged ligament will be the key factors influencing product development among these players.