The increase in the number of sports accidents, growing awareness about the artificial tendons and ligaments, advancements in surgical procedures, and advances in techniques related to ACL reconstructions are the driving factors for the market.
Market Size – USD 17.8 billion in 2018, Market Growth - CAGR of 13.2%, Market Trends– The issues related to Orthobiologics used to regenerate new bones, tendons and ligaments is expected to drive the market.
According to the current analysis of Reports and Data, the global artificial tendons and ligaments market was valued at USD 17.8 billion in 2018 and is expected to reach USD 48.4 billion by the year 2026, at a CAGR of 13.2%. The artificial tendons and ligaments are temporary replacements for supporting the broken or ruptured muscles or ligaments of the body. These artificial implants provide support to the broken tissues until the tissue cells regenerate the broken parts in the body. The natural tendons and ligaments can be ruptured due to any strong external force by trauma or serious accidents.
The artificial tendons and ligaments are used widely by sportspersons, especially athletes and gymnasts, as they are highly susceptible to accidents. For instance, according to the Center for Disease Control and Prevention (CDC), in 2016 stated that around 30 million people, including children and adults, take part in the youth sports events in the US. An increase in accidents in sports has proven to drive the market rapidly. The increasing improvements in the clinical procedures to cause minimal discomfort to the patients and rise in the research of artificial tendons and ligaments are critical drivers for the market. Various research organizations are entangled in the research and development to make tensile products that are physiologically compatible with the body. Metals such as titanium, niobium, and others are used widely and are under research for constant improvements in the biocompatibility of these materials within the body.
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The report provides a complete analysis of the global Artificial Tendons and Ligaments market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, and investment approaches.
The key companies profiled in the market are:
Cousin Biotech, BioMed, LARS, Neoligaments, Orthomed S.A.S., FX Solutions, Shanghai PINE POWER Biotech, Mathys AG Bettlach, Arthrex Inc., Stryker, and DePuy Synthes
Further key findings from the report suggest
- The European segment held the highest share in the market followed by Asia Pacific and North America. The rise in participation in sports sector and affordable medical devices have driven the market widely in Europe.
- The artificial tendons and ligaments are made out of polymers such as polypropylene and polyethelyene terephthalate. These polymers are non-reactive in the body and hence it is used for manufacturing efficient product.
- The other materials used for making these devices include titanium alloys, polyster fabric and dimethyl siloxane. These materials are proven to be biocompatible for use inside the body and are extremely inert materials
- The use of artificial tendons and ligaments have reduced the patients’ discomfort caused due to other medical procedures such as autografting or allogeneic grafting. These procedures are more complex than the implantation of artificial tendons and ligaments
- The knee surgeries are the maximum shareholding segment with 39% of the market and is expected to keep growing in the forecast period. According to the American Academy of Orthopedic Surgeons, There are nearly 95,000 new ACL ruptures each year, and approximately 60,000-75,000 ACL reconstructions are performed annually in the United States.
- Many technological innovations are rising in this field and increasing market growth. For instance, scientists from Hokkaido University developed a bendable, tough, and fiber-reinforced hydrogel biomaterial that can endure excessive pressure and is compatible with the body
For the purpose of this report, Reports and Data has segmented the artificial tendons and ligaments market on the basis of application, end-use and region:
Application Outlook (Revenue in Million USD; 2016–2026)
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
End-use Outlook (Revenue in Million USD; 2016–2026)
- Hospitals and clinics
- Ambulatory surgery centers.
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The report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region. The Artificial Tendons and Ligaments market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East Africa.
In-depth regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- Rest of MEA
The report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period. The report also provides an insight into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market.
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Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Artificial Tendons and Ligaments market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Artificial Tendons and Ligaments market size
2.2 Latest Artificial Tendons and Ligaments market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Artificial Tendons and Ligaments market key players
3.2 Global Artificial Tendons and Ligaments size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Artificial Tendons and Ligaments market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
About Reports and Data
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