MRRSE has added a new research report on the "Global Market Study on Soft Tissue Repair: Paradigm Shift from Conventional Technologies to Use of Biologics is Expected to Drive Market Growth By 2024" to its collection.
Albany, NY -- (SBWIRE) -- 01/11/2017 -- Soft tissue repair is a procedure for restoring functions of damaged or injured tissues such as ligaments, muscles, and other tissues. Soft tissue repair can be achieved through surgical meshes such as allografts, xenografts, alloplasts, and synthetic. The global soft tissue repair market has been segmented on the basis of product type, application, end users, and key regions.
Primary factors driving growth of the global soft tissue repair market are increasing disposable income and changing lifestyles among populations in developing economies. Additionally, rising geriatric population, increasing hernia repairs, and growing incidence of breast cancer are factors driving demand for wound care and soft tissue repair products globally. However, ethical concerns arising from cultural aversion towards the use of tissue from human cadavers and stringent regulations for biological meshes are expected to hamper growth of the global soft tissue repair market.
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In terms of value, the global soft tissue repair market was valued at US$ 4.3 Bn in 2014 and is expected to reach US$ 7.3 Bn by 2024 end, expanding at a CAGR of 5.5% during the forecast period (2015–2024).
On the basis of product type, the global soft tissue repair market is segmented into allograft, xenograft, alloplast, and synthetic. In terms of value, allograft segment is expected to account for ~43% share of the global soft tissue repair market by 2024 end. This segment is expected to maintain its dominance and emerge the most attractive segment during the forecast period.
On the basis of application, the global soft tissue repair market is segmented into breast reconstruction, hernia repair, vaginal sling, dental problems, dermatology, orthopedics, and others. Orthopedics segment is further sub-segmented into dural repair, sports medication and tendon reinforcement, and others. In terms of value, orthopedic segment is expected to account for ~20% share of the global soft tissue repair market by 2024 end. This segment is expected to maintain its dominance and emerge the most attractive segment during the forecast period.
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On the basis of end user, the global soft tissue repair market is segmented into hospitals, ambulatory surgical centers, and clinics. Increasing hospitalization rate for orthopedic surgeries is expected to boost revenue growth of hospitals segment in the global soft tissue repair market.
On the basis of region, the global soft tissue repair market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). In terms of value, North America accounted for over a third of the overall market revenue in 2015 and is estimated to continue to remain dominant by 2016 end. Europe and APAC are expected to register significant growth over the forecast period. Allografts segment accounts for a majority share in terms revenue of the global soft tissue repair market. Alloplasts are used for volume restoration and are usually preferred for applications in dermatology and breast reconstruction. Increasing incidence of trauma and burns are expected to fuel revenue growth of allografts and alloplast in the global soft tissue repair market in the near future.
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Some of the key players identified in the global soft tissue repair drug market report include B. Braun Melsungen AG, Baxter, C. R. Bard, Inc., Johnson & Johnson Private Limited, Stryker, Medtronic, Acera Surgical, Inc., Anthrex, Inc., and Acelity L.P. Inc.
The report also provides company-specific strategies related to product development in tissue repair, market consolidation initiatives, and analyses of various market player's specific strengths, weaknesses, opportunities, and threats.
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