Global Anterior Cruciate Ligament Repair Market Highlights over 2022 – 2031
The global anterior cruciate ligament repair market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Cruciate ligaments, also called cruciform ligaments, are present in the anterior of the knee. During the anterior cruciate ligament repair surgery, a surgical tissue graft is used to replace the injured cruciate muscles. The growth of the market can be attributed to the increasing prevalence of orthopedic injuries, especially sports-related injuries. Moreover, growing prevalence of bone-related diseases, such as osteoporosis, is estimated to boost the market growth. As the participation in sports in increasing, the incidences of sports injury are also surging across the globe. For instance, a report by the American Academy of Pediatrics suggested that in the U.S., more than 3.5 million children under the age of 14 years get sport injuries annually. Furthermore, the growing awareness amongst the people regarding non-invasive surgeries is also anticipated to boost the market growth. Along with this, the increasing healthcare expenditure worldwide, is expected to boost the market growth. As per the statistics by the World Bank, 9.856% of the global GDP was spent for healthcare in 2018.
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The market is segmented by application into osteoarthritis, rheumatoid arthritis, trauma, and others, out of which, the osteoarthritis segment is anticipated to hold a substantial share in the global anterior cruciate ligament repair market over the forecast period on account of growing prevalence of osteoarthritis, especially amongst the older population. Moreover, growing global geriatric population is also estimated to boost the market growth.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Anterior Cruciate Ligament Repair Market Regional Synopsis
On the basis of geographical analysis, the global anterior cruciate ligament repair market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing cases of osteoporosis and arthritis in the region, backed by the high share of geriatric population in the region. According to the data by the International Osteoporosis Foundation, more than about 50% of all osteoporotic hip fractures are projected to occur in Asia by the year 2050. Moreover, almost all Asian countries fall below the FAO/WHO recommendations for calcium intake of between 1000 and 1300 mg/day. In fact, the calcium intake for Malaysia, the Philippines, and India is as low as 500 mg per day.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing prevalence of sports injuries, combined with the higher incidences of bone-related diseases. As per the data by the Center for Disease Control and Prevention (CDC), 18.8% of women above the age of 50 years had osteoporosis of the femur neck or lumbar spine, while the rate for men was just 4.2%, in 2017-18.
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The global anterior cruciate ligament repair market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global anterior cruciate ligament repair market includes the following segments:
By Graft Type
- Autograft
- Allograft
By Application
- Osteoarthritis
- Rheumatoid Arthritis
- Trauma
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Others
Growth Drivers
- Increasing Prevalence of Sport Injuries
- Rising Cases of Osteoarthritis and Osteoporosis
Challenges
- High Cost of Surgeries
- Lack of Health Awareness amongst the Older Population
Top Featured Companies Dominating the Market
- Wright Medical Group N.V.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Arthrex, Inc.
- DJO, LLC
- Smith & Nephew plc
- Stryker Corporation
- Mylan N.V.
- Novartis International AG
- Johnson & Johnson
- GlaxoSmithKline plc
- Merck & Co., Inc.
