Global artificial tendons and ligaments market expected to generate revenue of around USD 39million by end of 2024, growing at a CAGR of around 10.17% between 2018 and 2024. Tendon and ligament injuries and/or associated disorders are a common problem and one of the leading causes of improper functioning of joint affecting athletes, actively working people, and the geriatric population globally.
The report covers forecast and analysis for the artificial tendons and ligaments market on a global and regional level. The study provides historic data from 2015to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the artificial tendons and ligaments market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the artificial tendons and ligaments market on a global level.
In order to give the users of this report a comprehensive view on the artificial tendons and ligaments market, we have included competitive landscape and analysis of Porter’s Five Forces model in the market. The study encompasses a market attractiveness analysis, where the application and regional segmentation are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments in the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on the global and regional basis.
The study provides a decisive view on the artificial tendons and ligaments market by segmenting the market based on application and regions. All the segments have been analyzed based on present and the future trends and the market is estimated from 2018 to 2024.
Based on application, the artificial tendons and ligaments market is segmented as knee injuries, shoulder injuries, foot and ankle injuries, and other injuries. Knee injuries segment is estimated to register the largest share of the global market and is likely to grow at the highest CAGR during the forecast period. This can be attributed to the increasing public participation in sports and athletic activities, increasing awareness, and the benefits of artificial tendons and ligaments.
Increasing incidence of sports injuries and a growing number of initiatives to increase awareness about artificial tendons and ligaments coupled with increasing number of research activities on artificial tendons and ligaments are the major driving factors of artificial tendons and ligaments market. However, reluctance to use artificial tendons and ligaments among healthcare providers and high procedure costs and unfavorable reimbursement scenario across major markets may hinder the growth of the artificial tendons and ligaments market.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa which is further divided into major countries, including the U.S., Germany, France, the UK, China, Japan, India, and Brazil. The report includes the demand for artificial tendons and ligaments market based on individual segments in all the regions and countries.
The report also includes detailed profiles of end players such as LARS, Neoligaments, Orthomed S.A.S., Cousin Biotech, FX Solutions, Arthrex, Inc., Shanghai PINE&POWER Biotech, Mathys AG Bettlach, Arthocare, and FH Orthopedics, among others.
This report segments the global artificial tendons and ligaments market as follows:
Global Artificial Tendons and Ligaments Market: by Application
Global Artificial Tendons and Ligaments Market: by Region
Ligaments connect bone to bone and tendons connect muscles to bones. Both ligaments and tendons are an essential part of the musculoskeletal system. Both of them serve a major function to the joints and bones. They are crucial elements for the proper functioning of the muscular and skeletal system. Ligaments and tendons belong to the category of dense granular connective tissues. Worldwide many athletes, active working people, and the elderly population have a common problem of joint disability with tendon and/or ligament injuries and associated disorders. This situation influences the normal life of the affected population, hampering optimal movement and local structure reliability function. Artificial tendons and ligaments are generally made up of knitted polyester fabric, titanium alloy, and medical dimethyl siloxane, which are covered with pure polyethylene terephthalate and others. According to the Center for Disease Control and Prevention (CDC) 2016 estimates, participation in organized sports is increasing worldwide. Near about 30 million children and adults take part in youth sports in the U.S. Increasing participation in sports is leading to a growing number of injuries among America's young athletes. Adults account for an expected 2 million injuries each year whereas more than 3.5 million teenagers receive medical treatment for sports injuries every year. The artificial tendons and ligaments market is growing with an increase in the prevalence of sports injuries and awareness regarding artificial tendons and ligaments coupled with growing research activities in the field. Additionally, benefits of artificial tendons and ligaments drive the artificial tendons and ligaments market. Furthermore, increasing fondness for minimally invasive surgeries is likely to drive the artificial tendons and ligaments market in the coming years. Unfavorable reimbursement policies and costly procedure may create restraints for the market growth. Also, the unwillingness of healthcare providers to make the utilization of artificial tendons and ligaments can also impede the growth of the market. Market development and massive product penetration in developing countries are creating opportunities for artificial tendons and ligaments market growth in the coming years.
The market is segmented based on application and region. On the basis of application, artificial tendons and ligaments market is classified into the knee injuries, foot and ankle injuries, shoulder injuries, and other injuries. Knee injuries segment is slated to hold the largest share of the global artificial tendons and ligaments market. This large share can be attributed to the steep rise in the rate of knee injuries, extensive involvement in sports, discomfort due to conventional surgical treatment procedures and benefits of artificial ligaments and tendons over conventional surgical methods.
By geography, North America continues to dominate the artificial tendons and ligaments market due to growing sports injuries coupled with increasing geriatric population in this region. At the country level, the UK, the U.S., and China are likely to grow strongly in the coming years due to a high rate of investment in research &development by major market players. Additionally, ongoing research & development on artificial tendons and ligaments and wide acceptance of innovative surgical procedures have resulted into the expansion of artificial tendons and ligaments market in this region. European region also has immense potential for artificial tendons and ligaments market growth. Government initiatives to boost sports, increasing cases of sports-related injuries, and increasing number of conferences, symposia, meetings, and workshops in the UK along with rising number of knee replacements, growing number of agreements between universities, organizations, and companies in Germany are the major factors responsible for market growth in this region.
During the forecast period, Asia Pacific region is expected to witness the highest growth, due to emerging healthcare industry in countries such as Japan, growing research and development activities, collaborations with several international sports organizations, government initiatives, favorable tax policies in China. Also, government support for providing sports medicine, a favorable healthcare system in India, and focus of LARS in Australia, and focus on sports medicine in Malaysia and Singapore will help in enlarging the scope of the market in this region.
Some of the key players in the artificial tendons and ligaments marketincludeLARS, Neoligaments, Orthomed S.A.S., Cousin Biotech, Shanghai PINE&POWER Biotech, FX Solutions, and Mathys AG Bettlach, and Arthrex, Inc., among others
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