Global Artificial Tendons And Ligaments Market is expected to grow at a CAGR of 14.47% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Artificial Tendons And Ligaments Market by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries and other injuries), Region and Global Forecast 2018-2025.
The global artificial tendons and ligaments market is expected to grow from USD 17.35 Million in 2017 to USD 52.3 Million by 2025 at a CAGR of 14.47% during the forecast period from 2018-2025. Europe market is expected to witness substantial growth over the next decade. This growth is witnessed in the wake of high demand for artificial ligaments and tendons products in this region and increase in a number of government initiatives regarding sport-related injuries.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Major companies in the industry include FX Solutions, Mathys AG Bettlach, LARS, Cousin Biotech, Neoligaments, Orthomed S.A.S, and Shanghai PINE&POWER Biotech Implant Systems, Internal Fixation Systems, Medtronic, Merlot OrthopediX, Orthofix, Osteomed, Rigid FX Corporation, Small Bone Innovations, Inc, Smith & Nephew, Stryker Corporation, Suspension Orthopaedic Solutions, Synthes, Tornier, Inc, TriMed, Inc., Vilex, Wright Medical, Zimmer Holdingsamong others. Major players are continuously focused on new product developments, acquisition, expansion and venture capital investments to obtain market share. For instance, in 2018, FX Solutions opened its new U.S. subsidiary FX Shoulder in Dallas. The establishment will help FX Solutions expand its shoulder implant footprint into U.S. markets.
The application segment is classified into knee injuries, shoulder injuries, foot and ankle injuries, spine injuries, and hip injuries. Increasing prevalence of sports injuries is a major factor driving the growth of the artificial ligaments and tendons market. According to the data published by the Centers for Disease Control and Prevention (CDC), in 2016, average annual sports injury estimated 8.6 million per year in the United States. Rising incidences of sports injuries is favouring the artificial ligaments and tendons equipment & supplies in future.
The use of artificial tendons and ligaments in surgical reconstruction has opened new clinical procedures for patients. Increasing incidence of sports injuries and growing number of initiatives to increase awareness about artificial tendons and ligaments are the major driving factors of artificial tendons and ligaments market. However, unwillingness to use artificial tendons and ligaments among healthcare providers and high procedure costs, unfavourable reimbursement scenario may hinder the growth of the artificial tendons and ligaments market. However, growing demand for modern surgical treatments that cause minimal discomfort to patients is expanding the clinical prospects of the artificial tendons and ligaments market driving the growth of the market. In developed countries, rapid advances made in knee replacement procedures are also contributing in the growth of the market in coming years.
About the report:
The global artificial tendons and ligaments market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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