NEWARK, Del, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The global soft tissue repair market is poised for remarkable expansion, with a projected valuation of US$ 6,992.8 million expected to be reached by 2023. This impressive growth is primarily fueled by the escalating interest and insights surrounding the soft tissue repair market. The ongoing trend signifies the emergence of fresh opportunities within this dynamic market, with an anticipated CAGR of 4.5% forecasted from 2023 to 2033. By 2033, the market is set to achieve a substantial estimated valuation of approximately US$ 10,814.7 million, underlining its significant potential for the coming decade.
The global soft tissue repair market has experienced a significant boost due to the rising number of cases attributed to sports injuries. Individuals across diverse age groups increasingly embrace various sports activities, resulting in a parallel increase in sports-related injuries.
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This surge in sports injuries has been a key driver behind the market growth, necessitating effective soft tissue repair solutions. Simultaneously, the expanding population of elderly individuals, who often require multiple surgeries and face increased risks of trauma-related injuries, has contributed to the growing demand for soft tissue repair procedures.
The availability of skilled healthcare professionals and physicians specialized in soft tissue repair has further bolstered the demand for such procedures. Their expertise and proficiency are pivotal in ensuring successful soft tissue repairs attracting more patients to opt for these treatments. The rising prevalence of breast reconstruction procedures has provided an additional avenue for market growth, as soft tissue repair techniques are frequently employed in these surgeries.
Despite the high demand for soft tissue repair solutions, several challenges hinder the market growth. One significant restraint is the high cost associated with these procedures, which can deter individuals with limited income from seeking such treatments. The lack of proper reimbursement options has also negatively impacted market expansion. The availability of alternative therapies like orthopedic manual therapy and physiotherapy provides patients with options beyond surgical interventions, potentially deterring the market growth.
Key Takeaways from the Market Study:
- The market valuation in 2022 was US$ 6,614.6 million.
- Based on product type, allograft is expected to dominate at a market share of 23.4% in 2023.
- Based on application, orthopedics will register at a market share of 19.7% in 2023.
- The soft tissue repair market expanded at 5.6% CAGR between 2018 and 2022.
- China is expected to rise at a CAGR of 5.8% by 2033.
- India is likely to surpass all other countries, registering a 6.7% CAGR from 2023 to 2033.
“The lack of standardization guidelines specifically for biomedical and tissue engineering research across regions further hamper the production of regenerative therapies and is a major restraint of the soft tissue repair market,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Soft Tissue Repair Market Report Scope:
| Attributes | Details | |||
| Estimated Market Size in 2023 | US$ 6,992.8 million | |||
| Projected Market Valuation in 2033 | US$ 10,814.7 million | |||
| CAGR Share from 2023 to 2033 | 4.5% | |||
| Forecast Period | 2023 to 2033 | |||
| Historical Data Available for | 2018 to 2022 | |||
| Market Analysis | Value in US$ million | |||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Competitive Landscape:
The soft tissue repair industry boasts a substantial array of market participants. Research and development play a pivotal role among these players, primarily focusing on introducing eco-friendly product lines as a core aspect of their manufacturing endeavors. Furthermore, they employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.
- In September 2022, In a significant development in the medical field, Merit Medical Systems, a prominent manufacturer of proprietary disposable medical devices, unveiled the Temno Elite soft tissue biopsy system in the United States.
- In June 2020, DePuy Synthes Medical Device Business Services, Inc., introduced the Dynacord Suture, a medical device used explicitly in procedures such as soft tissue approximation in rotator cuff repairs.
Key Market Segments Covered in Soft Tissue Repair Industry Research:
By Product:
- Synthetic
- Allograft
- Xenograft
- Alloplast
By Application:
- Breast Reconstruction
- Hernia
- Dermatology
- Orthopaedics
- Sports Medicine
- Dural Repair
- Others
- Dental Problems
- Vaginal Sling
- Others
By End User:
- Hospitals
- Ambulatory Surgical Services
- Clinics
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI)
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