Rockville, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, estimates that the global ligament stabilizers market is valued at US$ 2.66 billion in 2023 and is predicted to expand at a CAGR of 5% from 2023 to 2033.
Ligament stabilizers are tools used to support ligaments that have been ripped or ruptured as a result of an accident or a serious fall. To stabilize the ligaments as they heal from the shock of surgery, stabilizers are widely used in reconstructive knee procedures. The market is anticipated to be driven by increasing cases of cruciate ligament injuries in adolescents and youngsters. Several types of injuries, including those to the spine, wrist, hand, foot, and knee, are dramatically driving market growth.
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Key Takeaways from Market Study
- The global ligament stabilizers market is projected to reach a valuation of 4.33 billion by 2033.
- China’s market is predicted to expand at a CAGR of 5% during the projected period.
- Sales of ligament stabilizers in Germany are expected to increase at a CAGR of 5% from 2023 to 2033.
- Sales of ligament stabilizers for the treatment of grade 1 injuries are predicted to expand at a CAGR of 5.5% during the next 10 years.
Winning Strategy
The ligament stabilizers market is highly competitive with the presence of top leading producers, aiming to provide end users with thorough consultancy and integration services. Manufacturers of ligament stabilizers are highly investing in R&D to improve their product quality and revenue share.
- In August 2020, DJO, LLC launched Motion iQ, a cutting-edge new software product which revolutionizes the surgical experience by tying the patient, care team, and surgeon together throughout the continuum of care. Furthermore, DJO assists orthopedic patients and caretakers in improving treatment outcomes and reducing total costs.
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Competitive Landscape
Demand for ligament stabilizers is increasing as a result of the growing cases of ligament impairments and the demand for quicker and more effective treatment of knee injuries. Numerous domestic and foreign medical device producers are drawn to this industry due to the rising demand.
Some of the key manufacturers of ligament stabilizers are 3M Company, Bauerfeind AG, BREG, Inc., BSN Medical GmbH, DeRoyal Industries, Inc., DJO Global, Inc., Medi GmbH & Co. KG, Ossur HF, Otto Bock Healthcare GmbH, and Thuasne Group. Market rivalry has led to enhancements in current product lines and the creation of new ones, thereby increasing patient safety and comfort.
- In February 2022, the world's foremost actively powered microprocessor artificial knee for patients with above-the-knee amputations or limb abnormalities, the POWER KNEETM, was introduced by OSSUR. The POWER KNEE generates motion by offering active powered assistance while recognising whether the wearer is seated or standing or walking on different surfaces, inclines, or declines.
Key Companies Profiled
- 3M Company
- Bauerfeind AG
- BREG, Inc.
- BSN Medical GmbH
- DeRoyal Industries, Inc.
- DJO Global, Inc.
- Medi GmbH & Co. KG
- Ossur HF
- Otto Bock Healthcare GmbH
- Thuasne Group
- The World Health Organization (WHO) estimates that between 250,000 and 500,000 persons worldwide suffer spinal cord injuries each year.
Sport-related injury rates are rising quickly, particularly among athletes, due to their rigorous training regimens. Athletes are more prone to sprains in various body areas, which is further boosting the demand for ligament stabilizers.
Joint and ligament weakening are one of the major impacts of ageing that the older population experiences, which leads them to employ muscle-supporting devices, thereby driving ligament stabilizer sales growth. Rheumatoid arthritis, osteoporosis, and other orthopedic disorders are becoming more common, which is further fuelling the ligament stabilizers market growth.
- According to research released by the U.S. Census Bureau, there were over 46.2 million Americans 65 and older in 2014, and that figure is projected to rise to over 98 million by 2060.
Demand for ligament stabilizers from hospitals is rising rapidly as a result of the sophisticated diagnostic and surgical procedures being carried out in these settings.
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Key Segments of Ligament Stabilizers Industry Research
- By Injury Type :
- Grade 1
- Grade 2
- Grade 3
- By Product :
- Knee Braces & Supports
- Foot and Ankle Braces & Supports
- Shoulder Braces & Supports
- Spinal Orthoses
- Wrist & Hand Braces & Supports
- Knee Braces & Supports
- By End User :
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ligament stabilizers market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of injury type (grade 1, grade 2, grade 3), product (knee braces & supports, foot & ankle braces & supports, shoulder braces & supports, spinal orthoses, wrist & hand braces & supports), and end user (hospitals, clinics, ambulatory surgical centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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