Global Orthopedic Soft Tissue Repair and Sports Medicine Market Report, published by Variant Market Research, forecast that the global market is expected to reach $13 Billion by 2024 from $7 Billion in 2016, growing at a CAGR of 7.9% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 9.1% and 8.0%, respectively, during the forecast period.
"Orthopedic Soft Tissue Repair and Sports Medicine Market (By Surgical Procedures: ACL/PCL, Meniscal Repair, Rotator Cuff, Shoulder Labarum, Hip Arthroscopy, Biceps Tenodesis; By Injury Location: Knee, Hip, Shoulder, And Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the factors driving the growth of the global orthopedic soft tissue repair and sports medicine include increasing commonness of soft tissue injuries among geriatric population, rising obesity rate, increasing healthcare expenditure, lack of substitutes for soft tissue repair surgery, and innovations in medical technologies. However, factors including lack of knowledge and increased cost of surgical procedures might restrain the market. Furthermore, promotion and commercialization of advanced platelet rich plasma devices would provide future market opportunities.
Surgical procedures, injury location and geography are the major bifurcations considered in the global orthopedic soft tissue repair and sports medicine market. The orthopedic soft tissue repair market is categorized into surgical procedures as ACL/PCL, meniscal repair, rotator cuff, shoulder labarum, hip arthroscopy, biceps tenodesis, and others. Furthermore, the injury location is segmented by injury location as knee, hip, shoulder, and others. By surgical procedure, ACL/PCL is expected to dominate the market with largest market share and fastest CAGR, followed by meniscal repair. Furthermore, knee accounted the highest market share in 2016, and is also anticipated to attain fastest CAGR.
Geographically, the global orthopedic soft tissue repair and sports medicine market is categorized into North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America held the maximin share in 2016 with 34.1%, and Europe held the second largest share with 21.0%. In terms of growth, Asia Pacific will dominate the market with fastest CAGR, driven by, increasing participation in sports, rising demand for minimal invasive surgeries, and increasing disposable income.
Major market players include Stryker Corporation, Arthrex Inc., Smith and Nephew plc, Zimmer Biomet Holdings, Inc., Conmed Corporation, DePuy Synthes, ArthroCare Corporation, LifeNet Health Inc., AlloSource, and Acera Surgical Inc., among others.