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Rising Number of Sports Accidents Propels Suture Anchors Market Growth

Suture anchors are created to enable soft tissue to bone healing in situations where inadequate soft tissue accumulation on the bone makes it difficult to achieve a direct soft tissue–to–soft tissue repair. Tissue anchors allow the reattachment of tissue to bone in most parts of the body. These anchors are subject to distinct stresses depending on the type of tissues found through a variety of mechanisms. Many choices exist in terms of anchor choice, and it is consequently important for the surgeon to understand the individual anchor characteristics and biomechanics, as it can affect the use. Innovations and advanced techniques have extended the use of suture anchors to a variety of musculoskeletal tissues, including hip, elbow, hand, knee foot, and ankle. The increasing use of suture anchors for reattaching tissue to bone is driving demand for the global suture anchors market during the forecast period.

Arthroscopic techniques with suture anchors have allowed open surgical procedures in the shoulder, such as glenoid labrum repairs and rotator cuff repairs. Moreover, the increasing number of sports injuries around the world has become a major concern for athletes. Sports injuries involve the musculoskeletal system, which includes the muscle, tendons, ligaments, fascia, nerves, bones, and tissues. The total or partial detachment of ligaments, muscles, and other soft tissues from their associated osseins within the body is moderately usual injuries, especially among athletes. Many injuries are usually the effect of excessive stresses on these tissues. Moreover, tissue detachment may also occur from several types of the accident, including fall, over-exertion during an athletic event, or many other situations or activities. In such cases, surgery is required to re-attach the soft tissue to its associated bone. Suture anchors are increasingly being used in such incidents; thus, the suture anchors market is expected to grow in the upcoming future.

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Several Orthopedic Procedures Postponed Amid COVID-19 Crisis

With the ongoing spread of the COVID-19 pandemic, businesses across the world are increasingly flattening their recessionary curve by leveraging the technology. Many companies will experience response, recovery, and restoration phases. Building market resilience and allowing agility will aid businesses to move forward in their journey out of the coronavirus crisis toward the post-crisis times. The pandemic has been posing an immeasurable influence on the global economy, and, in turn, on the global suture anchors market. Furthermore, lockdown, quarantines, restricted supply chain, and social distancing activities on a broad large scale force an abrupt slump in business and consumer spending until the end of 2021.

Before the COVID-19 pandemic, the United States recorded around 500 thousand rotator cuff surgeries annually. However, the COVID-19 pandemic has had a two-fold consequence on orthopedic procedure volumes. Lockdowns and regulatory restrictions on sports events and outdoor exercises have decreased the frequency of sports-related injuries. The number of elective orthopedic procedures declined by COVID-19 restrictions, as many procedures were postponed to prevent the spread of the virus. While the decline in sports medicine associated procedures was notable in 2020, procedure volumes are projected to return to pre-COVID-19 levels post-crisis. Moreover, with the rapid progress in vaccine distribution and advancement in medical facilities, restrictions are expected to restore soon, and rise in the demand for the suture anchors market is predicted soon after the crisis ends.

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Surgeons Worldwide Require Peculiar Suture Anchors for Different Procedures

Suture anchors are growing in demand for their different types and procedures for different tissues. Presently, there are many types of suture anchors available for surgeons to choose from depending on the situation. Most of the suture anchors are barbed, a screw, or a rivet type of bone fastener. Current suture anchors have had an advanced edge, which can be either injected into a pre-drilled hole or directly screwed into the bone. These bone anchors also have a fixed to or entirely mobile suture mount (suture eyelet) inside the anchor system itself. Barbed suture anchors have fins orientated longitudinally. They are elastically distorted on compression and plastically distorted on distraction, and thus, hold on to the bone well once inserted.

Screw fit anchors are similar to a standard screw, but instead of a head, there is an eyelet to adjust the suture strands. However, screw anchors have a higher load to failure value than non-screw designs. The biodegradable anchors have a lower load to failure compared with metal anchors. Under cyclic-loading circumstances, anchor fixation strength is reduced compared to single-pullout tests. The suture anchor interface is understood to be the weakest link. Mostly, the suture can wear at the opening and hence, the use of larger suture elements with larger anchors can provide a better strength before failure. Suture damage at the knot is the popular failure mode for biodegradable anchors injected into cortical bone.

The knotless tissue anchor has been upgraded to cater to the enhanced volume of arthroscopic procedures. Surgeons can find knot tying challenging, and knots are known to be the vulnerable point in tissue repairs. Although knotless anchors have a similar pullout force to knot-tying anchors, they have an increased gap formation if there is an instant loading. Nevertheless, each type of suture anchors is proving useful in different procedures in different circumstances. Thus, the global suture anchors market is expected to grow during the forecast period.

North America to Lead Future Suture Anchors Market

With the rise in prevalence and incidence of orthopedic injuries in the global population, the global market for suture anchors is anticipating a surge in demand. Ongoing innovations, technological advancements, decreased healthcare expenses, and development of new constituents of suture anchors are some major factors driving the global suture anchors market. Moreover, increasing investments in the development of new types of suture anchors provide an effective treatment option for orthopedic injuries, which is contributing to market growth. With increasing expenditure on healthcare infrastructure and orthopedic treatments, along with technological advancements, the North American region is expected to hold a major share in the global suture anchors market. Owing to increasing population and sports injuries, the global suture anchors market is anticipated to expand at a CAGR of ~5% from 2021 to 2031.

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Analysts’ Viewpoint

The suture anchors market has witnessed substantial growth over the past few years, which is anticipated to further drive the market post-COVID-19 crisis. Many leading businesses are focusing on new product launches through investing in research and development to gain the largest market share. The increasing number of strategic mergers and acquisitions is expecting advanced product developments in the upcoming future. The rising awareness for healthcare and medical devices in the Asia Pacific region is expected to fuel the growth of the suture anchors market in the near future. Besides, emerging companies in India and China are likely to offer new growth opportunities to the suture anchors market expanding its progress exponentially.

Suture Anchors Market: Overview

  • According to Transparency Market Research’s latest research report on the global suture anchors market for the historical period of 20172019 and the forecast period of 20202031, rise in prevalence of sports injuries, advent of new technologies, improvement in healthcare facilities, and growth of medical tourism are projected to drive the global suture anchors market in the near future
  • According to the report, the global suture anchors market was valued at US$ 0.6 Bn in 2020 and is anticipated to expand at a CAGR of ~5% from 2021 to 2031

Rise in Prevalence of Sports Injuries: Key Driver

  • Sports injuries are a major concern during sports or exercise. Sport injuries involve the musculoskeletal system, which includes muscles, tendons, ligaments, fascia, nerves, bones, and tissues.
  • Sports injuries are primarily caused due to falls, overexertion, and fracture. The most common sites of injury during sports and recreation activities are lower extremity, upper extremity, and head & neck.
  • According to the Johns Hopkins University, in the U.S., about 30 million children and teens participate in some form of organized sports, and over 3.5 million injuries are reported each year. More than 3.5 million children ages 14 and younger get hurt annually playing sports or participating in recreational activities.
  • According to the U.S. Centers for Disease Control and Prevention (CDC), participation in organized sports is rising. Over 3.5 million children under the age of 14 receive medical treatment for sports injuries each year.
  • Sport injuries, particularly knee and ankle injuries, are more common among women than men
  • Incidence rate of tendon-linked injuries such as tennis elbow and rotator cuff tears is increasing. These injuries accounted for nearly 800,000 tendon‐related injury cases in Australia in 2017. In the U.S., 10 million cases of tennis elbow and rotator cuff tears were recorded in 2017.
  • Hence, rise in prevalence of sports injuries is expected to drive the global suture anchor market

Advent of New Technologies: Major Driver

  • A range of suture materials is available for medical purposes. The primary types are absorbable and non-absorbable. Development of classes of suture materials based on their properties and capabilities to improve tissue approximation and wound closure has increased in the past few years.
  • Current and emerging trends in the suture technology include knotless barbed sutures, antimicrobial sutures, bio-active sutures such as drug-eluting and stem cells seeded sutures, and smart sutures, including elastic and electronic sutures
  • These newer options expand the versatility of sutures from being used as a physical entity approximating opposing tissues to a more biologically active component enabling delivery of drugs and cells to the desired site with significant application potential in both therapeutics and diagnostics

Suture Anchors Market: Competition Landscape

  • This report profiles major players operating in the global suture anchors market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global suture anchors market is moderately fragmented, with the presence of a large number of leading players in the global market and several small players in regional markets. The top players hold major share of the global suture anchors market.
  • Prominent players operating in the global suture anchors market include
    • Smith & Nephew plc
    • CONMED Corporation
    • Johnson and Johnson (DePuy Synthes)
    • Zimmer Biomet Holdings, Inc.
    • Arthrex, Inc.
    • Stryker, Medtronic
    • Wright Medical Group N.V.
    • Cook Group Incorporated
    • Aju Pharm Co., Ltd.
    • ALEDA
    • BMT
    • Groupe Lépine
    • In2Bones
    • MedShape, Inc.
    • Tulpar Medical Solutions
    • VIMS
  • The report on the global suture anchors market discusses individual strategies, followed by company profiles of providers of suture anchors. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global suture anchors market.

Suture Anchors Market – Scope of the Report

TMR’s report on the global suture anchors market studies the past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2031. The report provides the revenue of the global suture anchors market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global suture anchors market during the forecast period.

The report has been prepared after extensive primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ annual reports, press releases, and relevant documents to understand the global suture anchors market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global suture anchors market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global suture anchors market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global suture anchors market.

The report delves into the competition landscape of the global suture anchors market. Key players operating in the global suture anchors market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global suture anchors market that have been profiled in this report.

Key Questions Answered in Suture Anchors Market Report

  • What is the scope of growth of suture anchors and providers in the global suture anchors market and its segments?
  • What will be the Y-o-Y growth of the global suture anchors market between 2020 and 2030?
  • What is the influence of changing trends in technologies on the global suture anchors market?
  • Will North America continue to be the most profitable market for suture anchors providers?
  • Which factors will hamper the growth of the global suture anchors market during the forecast period?
  • Which are the leading companies in the global suture anchors market?

Research Methodology

TMR has utilized a unique research methodology to conduct a comprehensive research on the growth of the global suture anchors market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the global suture anchors market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, device portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to TMR’s study on the global suture anchors market’s primary sources.

These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from suture anchors market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global suture anchors market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global suture anchors market more reliably and accurately.

Suture Anchors Market – Segmentation

Type
  • Absorbable
  • Non-absorbable
Tying Type
  • Knotted
  • Knotless
Anchoring System
  • Barbed Anchor
  • Screw Fit Anchor
  • Others
Material
  • Metallic Suture Anchor
  • Bio-absorbable Suture Anchor
  • PEEK Suture Anchor
  • Bio-composite Suture Anchor
  • Others
End User
  • Hospitals
  • Ambulatory Surgery Clinics
  • Clinics
  • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Suture Anchors Market