Soft Tissue Anchors Market by product (Absorbable and Non Absorbable)
Industry: Healthcare
Published Date: February-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 285
Report ID: PMRREP31492
The Global revenue from the Soft Tissue Anchors Market was around US$ 671.3 Million in 2022, with the global market expected to grow at a CAGR of 5.9% to reach a valuation of around US$ 1.25 Billion by the end of 2033.
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Market Size (2023) |
US$ 709.3 Million |
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Projected Market Value (2033) |
US$ 1.25 Billion |
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Global Market Growth Rate (2023 to 2033) |
5.9% CAGR |
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Market Share of Top 5 Countries |
60.4% |
As assessed by Persistence Market Research, knotless suture anchors segment held a market share of around 66.4% in the global market, in 2022. Overall, soft tissue anchors market sales account for around 1.6% of revenue share in the global orthopedic devices market, which was valued at around US$ 40.9 Billion in 2022.
The global market recorded a historic CAGR of 4.7% in the last 10 years from 2012 to 2022.
Acute trauma or repetitive motion of the body are the two main causes of orthopedic injuries. Most bone fractures and injuries are caused by sports and strenuous physical activity. The prevalence of osteoporosis disease and the subsequent increase in fractures is anticipated to increase market demand. The market will be further stimulated by the rising prevalence of these diseases.
The demand for orthopedic injury treatment is being fueled by rising public awareness of reconstructive orthopedic procedures coupled with increasing disposable income, which is also boosting the market growth for soft tissue anchors.
Older people typically have reduced bone density, making them more vulnerable to musculoskeletal diseases and injuries. Globally, the geriatric population increasing significantly, which is expected to aid in the market growth as bone-related disorders will get more prevalent with increasing ageing population.
The global market is likely to show profitable growth over the coming years at a CAGR of 5.9% and reach a global market size of US$ 1.25 Billion by 2033.
“Increasing Sports Injuries Demanding Orthopedic Procedures”
Obesity, orthopedic issues, and other chronic health issues are all severely influenced by a sedentary lifestyle. Obesity and osteoporosis are two prevalent disorders whose incidence is increasing worldwide. Obese patients are more likely to have specific orthopedic disorders that necessitate surgery, which will generate profitable growth prospects for the market.
Orthopedic surgeries frequently make use of soft tissue anchors. The market for soft tissue anchors is predicted to grow as a result of an increase in sports injuries and orthopedic procedures such as rotator cuff surgery, ligament repairs for torn ligaments, excision of excess bone or cartilage, etc.
In sports, shoulder dislocation is a regular occurrence that, if left untreated, could cause lifelong damage. The most popular and least invasive approach for treating shoulder dislocation is arthroscopic Bankart repair using soft tissue anchors.
“Product Recalls, Stringent Regulatory Framework”
One of the most negative factors preventing the market for soft tissue anchors from expanding is product recall. The companies get financially impacted by product recalls. The companies also get impacted by the product recall's negative effects on their brands, resulting in low adoption rates of the products.
Similarly, the lengthy and stringent product approval procedures are delaying the licensing and launch of many products, which is also limiting the market for soft tissue anchors.
There are shortcomings in the current suture techniques. The suture often pulls through the soft tissue if it is strong enough to support the tensile pressures of mobilization. The suture itself is frequently inadequate to handle the tensile pressures associated with mobilization if a thinner suture is employed to prevent tear through, this is also expected to hinder the market growth.
Why is the United States Market Booming?
“Increasing Rate of Sports Injuries”
The United States accounted for around 35.5% market share in the global market in 2022.
The rapid increase in sports injuries, the popularity of minimally invasive procedures, rising investments in orthopedic treatments, and the significant presence of top medical device manufacturers are the main drivers of market growth in the United States
The number of sports-related injuries in the United States has rapidly increased over time. For instance, a study by the Journal of Sports and Health Science, 2020 found that tendon and ligament injuries were the most common form of injury observed throughout the study in both males and girls.
The increasing occurrence of sports-related injuries will thus continue to fuel the expansion of the soft tissue anchors market in the United States
Will the Germany Be a Lucrative Market for Soft Tissue Anchors?
“Growing Geriatric Population”
The Germany market held around 5.0% market share in the global market in 2022.
Demand in the German market is being driven by an increase in the use of advanced technology and a rise in injuries among the elderly population.
The elderly population is at a high risk of suffering fractures from accidents. Over 55-60 year-olds are most likely to experience this. According to a study by the Population Reference Bureau, 2021, 22% of the German population were 65 or older in 2021. This number is anticipated to increase significantly over the next few years, propelling the market in Germany.
How is Japan Emerging as a Prominent Market?
“Growing Efforts from Government to Improve Outpatient Facilities”
Japan held a market share of about 7.2% of the global market in 2022.
The market is anticipated to grow as a result of an increase in orthopaedic surgery procedures and rising adoption of advanced medical technology.
In Japan, the prevalence of chronic diseases has increased over time, and the trend is expected to persist over the course of the projected period. Moreover, the market is expected to experience profitable expansion over the coming years due to an ageing population that is on the rise and an established healthcare system.
Thus, the prevalence of osteoarthritis will create lucrative demands for the market in the future.
Which Product Segment is Driving the Global Market?
“Rising Demands for Absorbable Products in the Market”
The absorbable segment held around 77.0% share of the total market in 2022.
The segment's dominance is attributable to an increase in orthopedic surgeries, which has boosted demand for absorbable soft tissue anchors. Orthopedic surgeons prefer absorbable products because these overcome the shortcomings of non-absorbable ones such loosening, migration, and chondral damage with metallic anchors.
Which Segment by Material is Driving Global Soft Tissue Anchors Market Growth?
“Orthopedic Surgery Remains a Key Market Prospect for Bio-Composite Suture Anchors”
The bio-composite suture anchors segment held around 51.7% share of the total market in 2022.
The increasing use of bio-composite suture anchors by end users is responsible for the segment's development.
Tricalcium phosphate (TCP) or hydroxyapatite (HAP) are examples of reabsorbed materials that are used to make bio-composite suture anchors. These sutures lower the risk of articular injury, promote bone development after reabsorption, and lessen the dangers related to implant removal. As a result, end users favor bio-composite suture anchors the most.
Which Suture Anchor based on Tying Dominate the Global Market?
“Various Benefits Offered by Knotless Suture Anchors Encouraging Their Higher Adoption”
Knotless suture anchors segment held around 66.4% share of the total market in 2022.
knotless suture anchors held significant share of the global market in 2022 due to their increased use in a variety of end users because they are easier to use and require less time to insert than knotted anchors.
Likewise, knotless anchors offer the benefit of avoiding the issues and possibly cutting down on overall surgery time as well, this is anticipated to further spur the segment's growth.
Which End User Highly Utilizes the Soft Tissue Anchors?
“Patient’s Preference for In-Hospital Care Treatment”
The hospitals segment held around 59.8% share of the total market in 2022.
Growing rates of sports-related and road accidents and injuries, an increase in the number of surgeries performed in hospitals, and a rise in the number of patients choosing to receive their treatment in hospitals are all factors driving this segment's growth, and the trend is expected to continue throughout the forecast period.
To increase their sales and get a competitive edge in the global market for soft tissue anchors, manufacturers are using a variety of strategies methods. The key strategies includes acquisition of competitor’s division and certification approvals for the product.
Some key instances of development include:
Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the soft tissue anchors market, which are available in the full report.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2012 to 2022 |
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Market Analysis |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Covered |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
Product:
Material:
Tying Type:
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The global market is currently valued at around US$ 671.3 Million in 2022.
The global market size is estimated to reach a valuation of US$ 709.3 Million by the end of 2023.
Sales of the market are set to witness growth at a CAGR of 5.9% and be valued at around US$ 1.25 Billion by 2033.
Demand for the global market increased at an 4.7% CAGR from 2012 to 2022.
The U.S., Japan, Canada, China, and Germany account for most demand within the market, currently holding around 60.4% market share.
The U.S. accounts for around 35.5% share of the global market in 2022.
The China market held a share of about 5.6% in the global soft tissue anchors market in 2022.
The Germany market held around 5.0% market share in the global market in 2022.
Smith & Nephew Plc, Medtronic plc, Stryker Corporation, and Johnson & Johnson areealthcarehhhhh among others are the key players in the global market.
An increasing incidences of Sports injuries, rising demands for orthopedic surgeries, and rapidly growing geriatric population are few of the factors propelling the global market.
