London, UK -- (SBWire) -- 03/25/2022 --A recent study by Triton Market Research titled 'Global Soft Tissue Repair Market,' covers the Global Analysis and Forecasts By Applications (Dural Repair, Head and Neck Products, Orthopedic Repair, Skin Repair, Dental Repair, Pelvic and Vaginal Prolapse Repair, Breast Reconstruction, Hernia Repair), By Product Type (Fixation Devices [Interference Screw, Suture Anchors]; Laparoscopic Instruments; Tissue Mesh [Biological Mesh {Allograft, Xenograft}, Synthetic Mesh]), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
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Triton's report predicts the global soft tissue repair market to chart a CAGR of 6.16% during the forecast years 2021-2028, and generate a revenue of $27570.5 million by the year 2028.
The prevalence rate of obesity has increased drastically over the past few years. Its burden is estimated to rise further in the coming years, owing to different factors, such as an unhealthy diet and a lack of exercise & inactivity, among others. The increase in the incidence of obesity throughout the world is anticipated to supplement the demand for soft tissue repair procedures. This is expected to propel the soft tissue repair market growth over the forecasting period.
Different nations have unique requirements for the approval of soft tissue repair products in their market. Moreover, the mandates of many countries also change from time to time, complicating the regulatory environment further. Therefore, the lack of a favorable regulatory environment is for the clearance and use of soft tissue repair products is expected to hinder the market growth.
The market for soft tissue repair is segmented mainly into applications and product type. On the basis of applications, it is divided into dural repair, head and neck products, orthopedic repair, skin repair, dental repair, pelvic and vaginal prolapse repair, breast reconstruction, and hernia repair.
Whereas, according to product type, it is categorized into fixation devices, laparoscopic instruments, and tissue mesh. The fixation devices segment is divided into interference screw and suture anchors. Whereas, the tissue mesh segment is classified into biological mesh and synthetic mesh. Biological mesh includes allograft and xenograft.
North America is the leading market for soft tissue repair worldwide, and it is expected to maintain its lead until the end of the projected period. A rise in the cases of medical conditions, such as hip fractures, low bone mass, osteoporosis, and others, can be seen among people in the region. This has fuelled the demand for soft tissue repair procedures. It also presents substantial growth opportunities to players in the market, as they can focus on the development of novel solutions to treat and cure these cases, in turn adding to the growth.
Johnson & Johnson, Becton Dickinson and Company (BD), Stryker Corporation, Cryolife Inc, Organogenesis Inc, Boston Scientific Corporation, Smith & Nephew Plc, Zimmer Biomet Inc, Integra Lifesciences Corporation, Bard Peripheral Vascular Inc, Baxter International Inc, WL Gore and Associates, Allergan, Athersys Inc, and Medtronic Plc are the established players in this market.
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Question & Answer: Soft Tissue Repair Market
Question 1: What factor is expected to propel the soft tissue repair market growth over the forecasting period?
Answer: The prevalence rate of obesity has increased drastically over the past few years. Its burden is estimated to rise further in the coming years, owing to different factors, such as an unhealthy diet and a lack of exercise & inactivity, among others. The increase in the incidence of obesity throughout the world is anticipated to supplement the demand for soft tissue repair procedures. This is expected to propel the soft tissue repair market growth over the forecasting period.
Question 2: What is expected to hinder the market growth?
Answer: Different nations have unique requirements for the approval of soft tissue repair products in their market. Moreover, the mandates of many countries also change from time to time, complicating the regulatory environment further. Therefore, the lack of a favorable regulatory environment for the clearance and use of soft tissue repair products is expected to hinder the market growth.
Question 3: How is the North America region influencing the growth of the soft tissue repair market?
Answer: North America is the leading market for soft tissue repair worldwide, and it is expected to maintain its lead until the end of the projected period. A rise in the cases of medical conditions, such as hip fractures, low bone mass, osteoporosis, and others, can be seen among people in the region. This has fuelled the demand for soft tissue repair procedures. It also presents substantial growth opportunities to players in the market, as they can focus on the development of novel solutions to treat and cure these cases, in turn adding to the growth.
Question 4: Which are the established players in the soft tissue repair market?
Answer: Johnson & Johnson, Becton Dickinson and Company (BD), Stryker Corporation, Cryolife Inc, Organogenesis Inc, Boston Scientific Corporation, Smith & Nephew Plc, Zimmer Biomet Inc, Integra Lifesciences Corporation, Bard Peripheral Vascular Inc, Baxter International Inc, WL Gore and Associates, Allergan, Athersys Inc, and Medtronic Plc are the established players in this market.
Related Report:
Global Hernia Repair Devices and Consumables Market
The global hernia repair devices and consumables market is set to exhibit growth in the forecasting years from 2021 to 2028. It is expected to grow at a CAGR of 3.80% in terms of revenue, generating $6387.8 million by 2028.
Hernia repair is among the most commonly performed surgical procedures across the world, with approximately 3 million hernia procedures performed every year. These surgeries are performed using a mesh that is made of synthetic or biological material with the help of fixation devices.
The major factors contributing to the growth of the global market are the high acceptance of tension-free hernia repair procedures, a rise in the demand for advanced mesh, a surge in the adoption of robotic surgeries, and a rise in the cases of hernia.
However, the high costs of these surgeries and the inconsistent & unfavorable reimbursement policies are hampering this growth. On the other hand, the development of new products, like biological meshes, by key players, as well as the high market potential in untapped emerging economies, are expected to offer lucrative growth opportunities to this industry.
