What Will The Soft Tissue Repair Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s soft tissue repair market report forecasts the soft tissue repair market size to grow to $14.74 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.
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Soft Tissue Repair Market Size Forecast
The global soft tissue repair market is expected to grow from $10.52 billion in 2022 to $11.74 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The soft tissue repair market size is expected to grow to $14.74 billion in 2027 at a CAGR of 5.8%.
North America held the largest soft tissue repair market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Soft Tissue Repair Market Driver – Increase In Cases Of Sport-Related Injuries
For instance, according to the National Safety Council, an American non-profit organization promoting health and safety, in 2021, Exercise equipment accounted for about 409,000 injuries which was the most in any sports category. Bicycles and accessories was the second largest cause of injuries injuring 375,797 injuries in the US. Therefore, the increasing prevalence of sport-related injuries drove the growth of the soft tissue repair market.
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Key Soft Tissue Repair Market Trend – Technological Development
Companies in the soft tissue market are investing in technological developments for increasing market share and providing innovative products to customers. Major companies operating in the soft tissue repair sector are focused on developing a technologically advanced solution for soft tissues. For instance, in April 2020, In2Bones, a USA-based designer, manufacturer, and distributor of medical devices for the treatment of disorders and injuries launched ClearGuard LE Endoscopic Soft Tissue Release System in the USA, which is used by orthopedic and podiatric specialists to treat a variety of foot problems. The ClearGuard LE Endoscopic Soft Tissue Release System gives orthopedic and podiatric specialists an easy-to-use, repeatable, and cost-effective system for high-volume lower extremity soft tissue surgeries such as plantar fascia, gastrocnemius, tarsal tunnel, and Morton’s neuroma.
Soft Tissue Repair Market Segment
1) By Product: Fixation Devices, Tissue Patch or Mesh, Laparoscopic Instruments
2) By Application: Hernia Repair, Dural Repair, Skin Repair, Vaginal Sling Procedures, Orthopedic Repair, Dental Repair, Breast Reconstruction Repair
3) By End User: Hospitals, Clinics, Research and Academic Institutes, Other End Users
Soft Tissue Repair Market Major Players and Strategies
Major players in the soft tissue repair market are Organogenesis Inc., Stryker Corporation, Johnson & Johnson, Arthrex Inc., CryoLife Inc., Integra Lifesciences Corporation, Wright Medical Technology, Smith & Nephew plc, C.R. Bard Inc., Athersys Inc., Medtronic PLC., Zimmer Biomet Holdings Inc., Lifenet Health Inc., Isto Biologics, Covidien plc, Becton Dickinson and Company, LifeCell Corporation, Baxter Healthcare Corporation, and Boston Scientific Corporation.
In December 2020, Integra Lifesciences, a USA-based medical device company acquired ACell for $300 million. The acquisition is expected to expand Integra Lifesciences regenerative capabilities and is complementary to the existing tissue technologies portfolio of the company. ACell is a USA-based company that develops and manufactures unique extracellular matrix products to repair and remodel damaged tissues through remodeling.
The Soft Tissue Repair Global Market Report 2023 covers regional data on soft tissue repair market size, soft tissue repair market trends and drivers, opportunities, strategies, and soft tissue repair market competitor analysis. The countries covered in the soft tissue repair market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Soft tissue repair is defined as the replacement of wounded or damaged tissues with healthy tissues. The soft tissue repair market manufacture soft tissue repair products.
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