Advancement Medical Device Industry and Increasing Geriatric Populating to Boost Global Soft Tissue Repair Market
Published On : Jan 11, 2019 | Category : Healthcare
The increasing demand for the breast reconstruction is influencing growth of the global soft tissue repair market. The Asia Pacific Market for soft tissue repair is expected to witness healthy growth due to increasing in surgical procedure due to rapid growth in the medical device industry. In addition, the rising number of product offerings in the Australia and China to support growth of the global soft tissue repairs market over the forecast period from 2018 till 2026.
Increase in participation in physical activities and sports activities are influencing growth of the soft tissue repair market across the globe. Furthermore, increase cases of sports injuries and sudden increase in demand for orthopedic process and increasing elderly population in the developing economies such as India, China and Australia to propel growth of the global soft tissue repair market in the near future.
The global soft tissue repair market is likely to expand at robust 6.3% CAGR during the course of forecast period from 2018 till 2026. This figure is likely to raise notably in the near future due to growing case of breast cancer across the globe.
Alternative Option of Soft Tissue Repair to Hamper Market Growth
The rising availability of the alternative soft tissue repair is likely to hamper growth of the global soft tissue repair market. These therapies includes orthopedic manual therapy, physiotherapy, protection, price such as protection, elevation, rest, and ice are some of the factors restraining growth of the global soft tissue repair in the coming years. Other than this, pain killers such as non-steroidal anti-inflammatory are mainly utilized to ease the pain and also helps in reducing any swelling of acute soft tissue injuries. In addition, corticosteroids injections are also utilized for the persistence inflammation, this further hamper the growth of the global soft tissue repair market in the upcoming years.
The advancement in technology is likely to increase during the course of forecast period. For instance, ARTELON DYNAMIC MATRIX, a product of Artelon, has more benefit over the tissue graft and suture. It helps in enhances the strength and also maintains the natural stiffness. These are some of the factors positively supporting growth of the soft tissue repair market, globally.
North America to Dominate Global Soft Tissue Repair Market Owing to Rise in Sports Injuries Cases
From a geographical point of view, North America is likely to account for maximum share in the global soft tissue repair market in 2017. Advancement in technology and launch of new products to stimulate growth of the global soft tissue repair market in the region over the course of forecast period. Increase in orthopedic procedure, increasing prevalence of sports injuries and rise in elderly population in Australia, India and China to boost growth of the global soft tissue repair market in the coming years.
Evolution of technology couple with increase in geriatric population to drive growth of this market in the Middle East and Africa. Moreover, increasing health expenditure along with the increasing government support are another key factors stimulating growth in Latin America market. In addition, changing lifestyle and growing disposable income is expected and growing case of breast cancer and increasing treatment option for the elderly population are expected to rev-up growth of this market.
Some of the key players operating in the global soft tissue repair market are Depuy Synthesis (Johnson & Johnson), Smith & Nephew, Wright Medical Group N.V., American Medical Systems Inc (Boston Scientific), and LifeCell Corporation (Allergan). The manufacturers are largely focused toward advancement in technology and strategic mergers and acquisitions and new product launch are some of the factors propelling growth of the global soft tissue repair market in the coming years.