The study report based on the orthopedic soft tissue repair market offers incisive data with regard to the market growth, size, and forecast of this market. The research report analyzes the orthopedic soft tissue repair market based on its market segments, major geographies, and current market trends. Most people experience a musculoskeletal-related injury or disease at some point in their life, which has precisely instigated the need for orthopedic soft tissue repair. The orthopedic soft tissue repair market offers effective and innovative next-generation orthopedic solutions premeditated for patients of all ages suffering from arthritis and fracture repair, to various therapies that are infant supportive for children with development disabilities to walk.
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Orthopedic soft tissue repair is a branch of medicine that deals with the prevention, diagnosis, and treatment of illnesses and injuries resulting mainly due to age or other recreational activities, exercises and sports.
This report is a complete study of the industry growth drivers, restraints, and current trends in the orthopedic soft tissue repair market. It provides market projections for the forthcoming years. The report also includes analysis of recent developments in technology, key participants in the orthopedic soft tissue repair market, competitive landscape, Porter’s five force model analysis, and a review of micro and macro essential factors for the existing market players and new entrants in the orthopedic soft tissue repair market, along with in-depth value chain analysis.
Overview of the Orthopedic Soft Tissue Repair Market
Orthopedic soft tissues are types of cells that surround, connect, and support bones. Hence, any severe overuse of these tissues or injuries, accidents, or natural degeneration with age results in high wear and tear of the internal tissues. Several types of orthopedic soft tissue include ligaments, cartilage, tendons, fascia, and other fibrous tissues.
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Orthopedic soft tissue repair devices are reliably used to repair such damages caused to the tissues in a human body. These devices are used either through MI procedures such as, arthroscopy or open surgical procedures. Moreover, owing to the accuracy demonstrated in robot-assisted surgeries over conventional surgical methods and equipment, the orthopedic soft tissue repair market is witnessing a paradigm shift from metallic to bio absorbable (non-metallic) anchor devices.
Also, introduction of new medicine technologies, rise in geriatric population, increasing obesity rate, and rising number of incidences in soft tissue damage due to sports injuries are some of the primary market drivers fuelling growth in the orthopedic soft tissue repair market.
Therefore, this market is expected to grow at a CAGR of 7.2% in the forecast period, 2013 – 2019.
Nevertheless, due to rising cost of surgical procedures, lack of awareness among people about orthopedic soft tissue repair, and inadequate reimbursements by insurers governing the orthopedic centers, the market faces major restraints in growth.
The major procedures conducted in the orthopedic soft tissue repair market include, Hip Arthroscopy, Shoulder Labrum, Rotator Cuff, Meniscal Repair and Biceps Tenodesis. Majority of cases with knee injury are reported due to sports, which is followed by demands for orthopedic soft tissue repair for shoulder and hip injuries. Aging is considered as one of the major factors causing rise in orthopedic soft tissue injuries. Aging diminishes the basic body movements and functions making the body more vulnerable to injuries. As a result, more people suffer from soft tissue damages, and hence the need for orthopedic soft tissue repair arises.
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ACL/PCL reconstruction is the most proficiently practiced procedure in the orthopedic soft tissue repair market. This market segment is expected to rise at a CAGR of 8.3% during the period 2013 - 2019.
Active participation in various recreational activities and sports is constantly on the rise around the world, which is certainly resulting in high-incidence of orthopedic sports injuries. North America is accounted to be the largest orthopedic soft tissue repair market in the global market. However, Asia is at distant second recording high incidence of orthopedic sports injuries, followed by some other fastest growing markets such as, China, India, Japan and the U.S.
Companies Mentioned in the report
One of the most notable key players profiled in the orthopedic soft tissue repair market is Smith & Nephew plc. It is currently the leading player in the orthopedic soft tissue repair market. However, some other major players include LifeNet Health Inc., ArthroCare Corporation, and AlloSource, among others.