Albany, NY -- (SBWIRE) -- 02/14/2018 -- Some of the leading players in the U.S., Europe and Japan orthopedic soft tissue surgical procedures market are Biomet, Inc., Stryker Corporation, ArthroCare Corporation, Arthrex, Inc., Smith & Nephew plc, CONMED Corporation, and DePuy. The leading players are offering advanced soft tissue repair solutions and ablation technologies for improving surgical procedures for various medical specialties, in order to gain a competitive edge over others. In addition, they are investing in novel orthopedic surgical equipment to strengthen their positions in the market, notes Transparency Market Research (TMR). Several medical device manufacturers are offering advanced implants for sports trauma surgeries to consolidate their portfolio of offerings. The high investment required for research and development activities in implants and regenerative products has kept the entry barriers high for new players.
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The U.S., Europe and Japan orthopedic soft tissue surgical procedures market is projected to rise at a CAGR of 4.90% from 2014 to 2020. Growing at this pace, the opportunities in the market is expected to reach US$10.2 bn by the end of the forecast period.
The major indications for which soft tissue surgical procedures are used are rotator cuff repair, lateral epicondylitis, vaginal prolapse, gluteal tendon, anterior cruciate ligament (ACL) reconstruction, and achilles tendinosis repair. Of these, the ACL segment is projected to account for a major market share over the forecast period. The growth of the segment is primarily driven by substantial number of ACL ruptures requiring surgical interventions. Regionally, the U.S. market for orthopedic soft tissue surgical procedures is anticipated to hold the leading share and is expected to retain its dominance in the coming years.
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The rising number of sports-related injuries, especially among adolescents, and the growing prevalence of traumatic injuries are key factors driving the U.S., Europe and Japan orthopedic soft tissue surgical procedures market. The growing number of knee injuries, especially of the anterior cruciate ligament type, is propelling the demand for soft tissue surgical procedures. The increasing prevalence of soft tissue injuries in adults due to the overuse of tendons is another crucial factor is expected to boost the uptake of orthopedic soft tissue surgical procedures in various populations residing in the U.S., Japan, and several nations of Europe.
The rising geriatric population in the developed nations of Europe and the U.S. is expected to bolster the demand for soft tissue surgical procedures due to fractures and injuries. In addition, the increasing prevalence of obesity is anticipated to accentuate the market in major regions. The growing demand for ACL surgical interventions across various demographics and the rising number of rotator cuff injuries are crucial trends expected to boost the market. In addition, increased participation of high-school students in sports such as basketball, gymnastics, and football has stimulated the demand for ACL reconstruction surgeries.
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The rising prominence of non-surgical interventions for gluteal tendon repairs and the diminishing budgetary allocations in sports in Europe are crucial factors likely to hinder the market to an extent. In addition, lowering of out-of-pocket healthcare spending in several European nations may hinder the demand for soft tissue surgical procedures in the region.
On the other hand, the increasing adoption of bio-absorbable components and devices reducing the threat and risk of implant removal is expected to boost the market. In addition, recent technological advancements related to the soft tissue attachment devices is expected to open up exciting opportunities for market players in the coming years. The substantial annual spending in ACL reconstructions in countries, such as the U.S., is further anticipated to catalyze the market growth.
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