As per the report, the worldwide soft tissue repair market was esteemed at about USD 11.15 Billion in 2015 and is anticipated to attain around USD 17.12 Billion by 2021, expanding at a CAGR of about 7.5% between 2016 and 2021.
Soft tissues within the body consist of tendons, ligaments, synovial membrane, and skin that connect, surround, or support organs and other structures of the body. In the repair process, the damaged tissue is reinstated by granulation tissue that develops to form scar tissue. The soft tissues are extremely deformable and its characteristics differ considerably from one individual to another. Such soft tissue injuries are ordinary wound in the sport.
The rising elderly population together with the increasing healthcare expenditure is anticipated to fuel the worldwide soft tissue repair market in the coming period. In addition, the mounting recognition of sports such as basketball, tennis, and football, there has been a momentous rise in the numeral of soft tissue injuries happening from these games. The growing digit of soft tissue injuries as a result of sports is expected to drive the growth of the soft tissue repair market. On the other hand, the huge price of treatment and uncertain reimbursement circumstances are likely to get in the way of the growth of the market. Nevertheless, the increasing trend of minimum invasive techniques and advancement in technology in orthopedic surgical products might bring new growth avenues in the near future.
The soft tissues repair market is bifurcated based on products into soft tissue fixation devices, laparoscopic instruments, and tissue patch/mesh. Tissue fixation product market is projected to witness noteworthy expansion in the years to come owing to its capability to protect the tissues from putrefying and increasing the tissue’s mechanical strength. Another major channel of soft tissues repair market is the laparoscopic instrument.
The soft tissue repair market, on the basis of application, is further categorized into orthopedic, skin repair, breast reconstruction repair, dental, hernia repair, and others. In 2015, the skin repair was the biggest segment in terms of revenue. This growth is essentially attributed to the ability of the skin ability to repair itself and assist in producing new tissue.
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In 2015, the soft tissue repair market was ruled by North America with the biggest share of the entire revenue produced. The increasing requirement for treatment from the elderly population together with the elevating healthcare expenses particularly in the U.S has contributed to the growth of the soft tissue repair market in this region. North America was trailed by Asia-Pacific in 2015 in terms of revenue. The rise in population and sophisticated healthcare facilities are anticipated to assist the Asia-Pacific to see a rapid growth in the market in the coming period.
Few of the major players in the worldwide soft tissue repair market consist of Stryker Corporation, American Medical Systems Inc., Smith and Nephew plc, LifeCell Corporation, C.R. Bard, Inc., Integra LifeScience Corporation, Organogenesis, Arthrex, Inc., Wright Medical Technology, Covidien plc, and Johnson & Johnson.