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Soft Tissue Repair Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)
The soft tissue repair market is expected to register a CAGR of 7.63% during the forecast period owing to the growing participation of individuals in sports causing sports-related injuries and rising trauma cases.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soft Tissue Repair Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06420662/?utm_source=GNW
COVID-19 pandemic caused a worldwide lockdown which has had drastic effects on the health care system. The soft tissue repair market was also affected by the covid-19 pandemic. The surgical procedures, doctor appointments have been delayed. The number of injuries also reduced following the lockdown and shutdowns which affected the studied market growth negatively. A study entitled, “The Impact of COVID-19 Pandemic on Orthopedic Trauma Practice: An Experience at a Tertiary Care Center in Northern India” published in December 2021 shows that the soft tissue repairing for a mode of injuries before pandemic was calculated for the period 25 March - 31 May 2019, in a Tertiary Care Center in Northern India, the total number of injuries was 492, where for the same period 25 March - 31 May 2020 it straightly declined to 138 number of injuries. This shows a decline in soft tissue repair treatments as well. Therefore, the studied market was affected negatively by the covid-19 pandemic. But, owing to the prevalent geriatric population globally and the increased number of sports injuries the market is gaining steady growth.
Soft tissue is generally used to describe muscles, tendons, ligaments, and fascia. But several other tissue types and body systems contain soft tissue as well, including fat, skin, nerves, and blood vessels. While most of the soft tissues play a role in back pain and its healing, some are consistently involved in spinal rehabilitation. When any sudden damage or trauma occurs to these soft tissues, they need time for recovery or repair. The most important time for treatment of soft tissue damage is the initial 48-72 hours following the injury and can speed up recovery.
The rising sports activities, interest in professional sports, and interest in various exercises, physical activities among children and adult is contributing to most of the soft tissue injury incidences. The National Safety Council (NSC) facts and figures for injury in the United States 2020 report shows that bicycling accounted for about 426,000 injuries, the most of any sports and recreation category, exercise, with or without equipment accounted for about 378,000 injuries. These increasing number of injuries primarily contribute to the soft tissues damage mainly to tendons which generates demand for more advanced therapies and treatment options for soft tissue repair. Therefore, the soft tissue repair market is expected to growth during the forecast period.
However, the major damages or tears that are caused to a soft tissue following an accident, for or other factors may need surgeries, but the high cost of these surgical procedures may hinder the growth of the soft tissue repair growth.
Soft Tissue Repair Market Trends
Orthopedics by Application Segment is Expected to show growth over the Forecast Period
The orthopedics segment by application is likely to grow at a higher growth rate during the forecast period. New product launches and the prevalence of orthopedic soft tissue damage are the major growth factors for the orthopedic segment.
One of the most common soft tissues injury is tendonitis, which refers to the inflammation of tendons or a tendon, which occurs when a person overuses or injures a tendon during exercise, sports, or any other physical activity. It is linked to an acute injury with inflammation. It mostly affects the elbow, wrist, finger, thigh, and other body parts where tendons are present. This is the most common type of orthopedic soft tissue rupture that needs attention.
As the orthopedic segment demand grows, major market players are also focusing more on the development of new products and launches, which is boosting the growth of the market. For instance, in August 2021, Orthopaedic Implant Company launched its FDA cleared DRPX wrist fracture plate which is designed with Type II anodized titanium with a Low-profile plate and screw design to minimize soft tissue impingement. Again, in August 2021, Panther Orthopedics, Inc. announced the use of its soft tissue platform Technology, the PUMA System, a nitinol-based soft tissue fixation device that uses cyclical loading to provide stabilization without over-compression or loosening in Lapidus Surgeries.
The orthopedic segment by application is growing at a faster pace owing to the increasing number of tendon and wrist injuries coupled with numerous product launches by the market players and this segment is expected to boost the growth of the studied market over the forecast period.
North America is Expected to Hold a Significant Share in the Market
North America is expected to dominate the studied market owing to the increasing number of sports injuries and increasing product launches by major players.
The United States holds the largest market share in the region, and this is due to the presence of highly advanced medical care facilities and consistently high healthcare expenditure which is boosting the growth of the soft tissue repair market in the country.
The increasing number of new product launches in the country is expected to boost the growth of the studied market. For instance, In November 2019, Paragon 28, Inc., a United States-based company announced the launch of its sterile kit for allowing flexibility for surgeons and streamlining procedures in foot and ankle surgery. Again, in October 2020, CoNextions Inc., an innovator in tendon repair, announced that in a Kidner procedure, the first patient has been treated with the CoronetTM Soft Tissue Fixation System, which is a tendonitis device intended for the fixation of soft tissue and tendon to the bone.
Additionally, in May 2021, Medacta Group SA received CE marking for the NextARTM Knee (NextAR TKA), Shoulder, and Spine Applications as part of its NextAR Augmented Reality (AR) Surgical Platform. NextAR Knee is the first Food and Drug Administration (FDA) 510 (K) cleared, Augmented Reality surgical platform for total knee replacement; its application enables direct tracking of collateral ligaments, and a 3D analysis of soft tissue behavior and range of motions throughout the surgery and it trying to bring patient-specific ligament balancing to the next level.
Therefore, owing to the presence of numerous market players in the country focused on more product launches and innovations, and the availability of more advanced technologies before other countries in the region, the United States creates more demand for the studied market in the North American region, and it is expected to contribute to the growth of the studied market over the forecast period.
Soft Tissue Repair Market Competitor Analysis
The Soft Tissue Repair market is competitive in nature and consists of several major players. In terms of market share, some of the major players currently dominate the market. Arthrex, Inc., Baxter, Boston Scientific Corporation, CryoLife, Inc., Integra LifeSciences, Johnson & Johnson Private Limited, Medtronic, BD (C.R. Bard, Inc.), Smith+Nephew, and Stryker are among other major players which dominate the market.
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