Soft Tissue Repair Market Capacity, Production, Revenue, Price, Cost, Gross Margin Analysis 2018-2023
360 MARKET UPDATES Report provides a 360-degree overview of the global Soft Tissue Repair Market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Report Title: “Global Soft Tissue Repair Market – Segmented by Product (Tissue Fixation Devices, Tissue Matrix and Cell Therapy), Type of Application and Geography – Growth, Trends, and Forecast (2018 – 2023)”
Global “Soft Tissue Repair Market” is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023). Also, Soft Tissue Repair Market report provides the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Soft Tissue Repair Analysis.
Soft Tissue Repair market Report provides a 360-degree overview of the global Soft Tissue Repair market with special emphasis on all aspects including drivers, restraints, and opportunities, market and regional segmentation.
Soft Tissue Repair Market Report Covers Leading Manufacturers: Arthrex, Inc., Baxter Healthcare Corporation, Boston Scientific Corporation, C. R. Bard, Inc. (Becton Dickinson and Company), CryoLife, Inc., Integra LifeSciences Corporation, Johnson & Johnson, Medtronic, Royal DSM, Smith & Nephew PLC, Stryker Corporation, and Wright Medical Group N.V.
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The soft tissue repair market is expected to register a growth rate of nearly 7.4% over the forecast period, 2018 to 2023. Soft tissue injury is characterized by damage of muscles, ligaments or tendons throughout the body which often occur during sports and exercise activities, but sometimes simple daily activities can also cause soft tissue injury. Generally, acute injuries are caused by a sudden trauma, such as a fall or twist and chronic or overuse injuries occur gradually over time. Tendinitis and bursitis are very common soft-tissue overuse injuries. Tissue repair is the replacement of destroyed tissue by living tissue. The soft tissue market is witnessing substantial growth due to increasing geriatric population, rising cases of trauma, availability of a vast range of tissue repair products. As per the geographical analysis, the Asia Pacific region is expected to exhibit the fastest growth owing to a high number of geriatric population and increasing number of occupational injuries.
Increasing Incidence of Sports-Related Injury boosts the Growth of Soft Tissue Repair Market
Soft tissue repair market has been observing strong growth with increasing number of sports-related injuries in a recent couple of years. As per the Center for Disease Prevention and Control, participation in organized sports is getting accelerated, and about 30 million children and adolescents participate in youth sports in the United States annually. From 2011 to 2014, Americans aged five years and over sustained an average of 8.6 million sports- and recreation-related injuries. With the growing inclination towards sports in Asia-Pacific, sports-related injuries have generated a high scope of growth in soft tissue repair market. According to the research article by Yoon et al., higher injury rate at national team level of soccer in Asia while compared with Europe. According to the European Injury Data Base (IDB), annually about 4.5 million people aged 15 years and older get treated in hospitals for sports injury. This increasing trend of sports-related injury has been acting as one of the key growth drivers of soft tissue repair market. Other factors contributing to the soft tissue repair market are rising number of trauma cases and growing geriatric population.
High Cost of Surgical Procedures limits the Growth of Soft Tissue Repair Market
The cost of hernia repair is around USD 5000-10000, and over 75% of the cost of a hernia surgery comes from the facility charge which varies from region to region. The soft tissue repair market is likely to get hampered by the high cost of the surgical procedure due to which the people from the developing region cannot afford this surgical procedure. Another factor contributing to the slow growth of the soft tissue repair market is reimbursement issues.
Asia Pacific is Expected to Exhibit Fastest Growth in the Soft Tissue Repair Market over the Forecast Period
Asia Pacific region is anticipated to experience the fastest growth owing to the rapidly growing geriatric population. As per the United Nations ESCAP, Social Development Division, in 2016, around 12.4% of the population in this region was 60 years or older, and this is estimated to increase to more than 1.3 billion people by 2050. Since the geriatric population is more likely to suffer from tissue injury, the studied market hence is expected to witness strong market growth in the forecast period. Work-related injuries also play a pivotal role in escalating the demand for soft tissue repair treatment in this region. According to the International Labour Organization (ILO), each year more than 1.1 million people die from occupational accidents or work-related injuries in Asia-Pacific. These factors are considered as major drivers for the soft tissue repair market in this region.
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Reasons to Purchase Soft Tissue Repair Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
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- The regions that are expected to witness the fastest growth during the forecast period.
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