Soft Tissue Repair Market size is poised to reach USD 17 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of soft tissue repair devices was USD 7 Billion. The market is expanding owing to the growing prevalence of traumatic accidents such as road accidents. According to a report, roughly 1.19 million people lose their lives in vehicle crashes every year. As per estimates, about 20 to 50 million more people experience non-fatal injuries; several of them become disabled. The orthopedic injury resulting from the traffic collision was the primary cause of this disability.
In addition to these, factors that are believed to fuel the market growth of soft tissue repair are growing technological advancements which include the creation of tissue scaffolds, bioengineered grafts, and regenerative medicine methods. Patients are now given access to therapies that encourage tissue regeneration in addition to relieving pain and returning function, which speeds up recovery and improves results.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
7% |
Base Year Market Size (2023) |
USD 7 Billion |
Forecast Year Market Size (2036) |
USD 17 Billion |
Regional Scope |
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Product Type (Fixation Devices, Tissue Scaffold, Cell-Therapy Based)
In soft tissue repair market, fixation devices segment is predicted to capture over 50% revenue share by 2036. The segment growth can be attributed to the growing prevalence of fractures and sports injuries. Fixation devices serve as an alternative for the bone structure and are composed of synthetic materials. As the bones heal after surgery or an injury, they serve to stabilize and support them. A wide range of ailments, such as fractures and sports injuries, may be treated with fixation devices.
Interference screws and suture anchors are a couple of the fixing tools. Suture anchors are frequently employed in arthroscopic surgery and sports medicine as essential instruments for fastening soft tissue to the bone. Further, the interference screw is a direct tendon-to-bone interference fixing tool. By reaching out and compressing the graft with the screw threads, this common compression fixation tool fixes the graft. Thus, during the forecast period, the growing necessity for fixation devices in soft tissue repair will propel the segment's expansion.
End-User (Hospitals & Clinics, Ambulatory Surgical Centers [ASCs], Physician Office)
The hospitals & clinics segment in the soft tissue repair market is predicted to account for a share of 46% during the forecast timeframe. The segment’s growth is led by the growing number of hospitals. The number of hospitals globally as of 2021 was estimated to be approximately 164,000. Furthermore, there has been a surge in investment in the hospital sector. Therefore, medical technology and healthcare administration techniques have become more innovative as a result of the growing investments in the field. Hence, more people are driving for orthopedic treatment in hospitals.
Furthermore, several significant medical industry companies are looking into inorganic expansion prospects. Additionally, this will likely end up resulting in more beds being added as a result of mergers and acquisitions. Therefore, this is estimated to boost the segment growth hence further influencing the market revenue.
Our in-depth analysis of the global market includes the following segments:
Product Type |
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End-user |
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North America Market Statistics
Soft tissue repair market in the North America is anticipated to hold the largest with a share of about 35% by the end of 2036. The market growth in the region is also expected on account of the increasing expenditure on healthcare. The amount spent on health care in the United States increased by over 3% in 2022 to approximately USD 3 trillion, or over USD 13,492 per person. Furthermore, this region has the presence of key players focused on the field of soft tissue repair.
Additionally, this region has experienced significant launch of advanced products which is why the market in this region is growing. Additionally, government legislation supporting the healthcare system, the need to lower healthcare costs, and the prevalence of chronic diseases are all important factors.
APAC Market Analysis
The Asia Pacific region will also encounter enormous growth for the soft tissue repair market during the forecast period and will hold the second position owing to the rising disposable income in this region. Hence, the willingness of people to spend more on soft tissue repair treatment is growing in this region.
Furthermore, there has been continuous growth in research in this field which is also projected to dominate the market expansion. Also, this region is experiencing an upward movement in medical tourism due to the upgradation in technology.
Author Credits: Radhika Pawar
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