Artificial Tendons and Ligaments Market by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Spine Injuries, and Hip Injuries), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2023
“The artificial tendons and ligaments market is projected to grow at a CAGR of 13.6% during the forecast period.”
The global artificial tendons and ligaments market is expected to reach USD 35.0 million by 2023 from USD 18.5 million in 2018, at a CAGR of 13.6%. Increasing incidence of sports injuries, growing number of initiatives to increase the awareness about artificial tendons and ligaments, increasing research activities on artificial tendons and ligaments, increasing preference for minimally invasive surgeries, benefits of artificial tendons and ligaments, and the issues related to the use of orthobiologics are expected to drive the growth of the artificial tendons and ligaments market. However, factors such as reluctance to use artificial tendons and ligaments among healthcare providers, high procedure costs, and unfavorable reimbursement scenario across major markets are expected to restrain the growth of this market.
“By application, the knee injuries segment is expected to grow at the highest rate during the forecast period.”
Based on application, the market is segmented into knee injuries, shoulder injuries, foot and ankle injuries, and other injuries (spine and hip injuries). The knee injuries segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing incidence of knee injuries, discomfort at the harvest site due to conventional surgical treatment methods that use autografts and allografts, rising participation in sports, and advantages of artificial tendons and ligaments as compared to autografts and allografts.
“The Asia Pacific artificial tendons and ligaments market is expected to grow at the highest CAGR during the forecast period.”
Asia Pacific is expected to witness the highest growth during 2018 to 2023, owing to Japan’s growing healthcare industry, collaborations with various international sports organizations, research activities in sports medicine, government initiatives to increase the number of doctors, favorable tax policy in China, government initiatives to support sports medicine in India, funding initiatives and grants to promote sports in Australia, favorable healthcare system, and focus of LARS in Australia, and focus on sports medicine in Malaysia and Singapore.
Break of primary participants was as mentioned below:
By Company Type - Tier 1-55%, Tier 2-25% and Tier 3-20%
By Designation - C-level-43%, Director Level-32%, Others-25%
By Region - Europe-38%, North America-23%, Asia Pacific-29%, RoW-10%
The key players in the global artificial tendons and ligaments market are LARS (France), Neoligaments (UK), Cousin Biotech (France), Orthomed S.A.S. (France), FX Solutions (France), Shanghai PINE&POWER Biotech (China), and Mathys AG Bettlach (Switzerland).
The report analyzes the artificial tendons and ligaments market and aims at estimating the market size and future growth potential of this market based on various segments such as application and region. It provides detailed information regarding the major factors influencing the growth of this market and the regulatory analysis impacting market dynamics.
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