New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "ACL Reconstruction Procedures Global Market Report 2023" - https://www.reportlinker.com/p06479892/?utm_source=GNW
, RTI Surgical, Mathys Ltd Bettlach, and United Orthopedic Corporation.
The global ACL reconstruction procedures market is expected to grow from $6.39 billion in 2022 to $6.89 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ACL reconstruction procedures market is expected to reach $8.94 billion in 2027 at a CAGR of 6.7%.
The ACL reconstruction procedures market includes revenues earned by entities through the provision of anterior cruciate ligament (ACL) reconstruction procedures and related procedures involved in the replacement or repair of a torn ACL caused by accidents, work injuries, or sports injuries.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
ACL (Anterior Cruciate Ligament) reconstruction refers to surgical procedures to reconstruct the ligament in the center of the knee, connected by the shinbone to the thigh bone.The method includes the repairment of ACL; when the ligament is injured or torn, operations are required to restore knee stability, strength, and movement.
After sterilization, the damaged ligament is removed and replaced with another ligament from the patient’s body or tissue from a deceased body.
North America was the largest region in the ACL reconstruction procedures market in 2022. The regions covered in ACL reconstruction procedures report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ACL reconstruction procedures are extra-articular, intra articular.Extra-articular refers to being situated or occurring outside a joint, in the context of fractures, it refers to a fracture type where the fracture line does not extend into the joint.
The various fixation types include femoral and tibial, and these are used by various end-users such as hospitals, orthopedic clinics, and ambulatory surgical centers.
The rise in injuries and occurrences caused by sports is expected to propel the growth of the ACL reconstruction procedure market going forward.Sports injuries refer to injuries that can occur during sports or exercise and can be acute or chronic.
Poor training methods, skeletal abnormalities, muscle weakness, and unsafe practices are a few reasons for sports injuries.ACL reconstruction procedure is an effective procedure to restore knee stability and function, which addresses the root cause of the problem; as a result, the rise in injuries and occurrences caused by sports boosts the demand for ACL reconstruction procedures.
For instance, in April 2021, according to the American Academy of Pediatrics, more than 100,000 ACL repair procedures were conducted annually in the United States.The injury has climbed 148% in the last ten years among 14- to 18-year-olds, increasing by at least 2% yearly.
Therefore, the rise in injuries and occurrences caused by sports is driving the growth of the home healthcare equipment market.
Product innovation is a key trend gaining popularity in the ACL reconstruction procedure market.Major companies operating in the ACL reconstruction procedure market are focused on developing innovative products to strengthen their position and gain a competitive advantage.
For instance, in March 2023, Smith+Nephew, a UK-based medical equipment manufacturing company, launched the UltraTRAC QUAD ACL Reconstruction Technique.This technique consists of QuadTrac Quadriceps Tendon Harvest Guide System, a first integrated guide for minimally invasive quadriceps graft harvesting, providing direct tendon visualization while enabling a controlled and reproducible technique to harvest.
The Quadtrac method is an efficient way for surgeons to harvest the quad tendon.
In November 2020, Stryker, a US-based medical technology company, acquired Wright Medical Group N.V. for an undisclosed amount. This acquisition broadens, diversifies, and enriches Wright Medical’s portfolio by strengthening its global market position in trauma and extremities, opening up innovation prospects, and reaching more patients. Wright Medical Group N.V. is a US-based orthopedic device firm focused on the upper and lower extremities and the biologics market, including ACL reconstruction procedure.
The countries covered in the ACL reconstruction procedures market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ACL reconstruction procedures market research report is one of a series of new reports that provides ACL reconstruction procedures market statistics, including ACL reconstruction procedures industry global market size, regional shares, competitors with an ACL reconstruction procedures market share, detailed ACL reconstruction procedures market segments, market trends, and opportunities, and any further data you may need to thrive in the ACL reconstruction procedures industry. This ACL reconstruction procedures market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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