USD 9.78 million
Report ID: SQSG35J2009 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 65 | Figures: 75
Global Artificial Tendons And Ligaments Market size was valued at USD 9.78 million in 2021 and is poised to grow from USD 11.11 million in 2022 to USD 35 million by 2030, growing at a CAGR of 13.6% in the forecast period (2023-2030).
Artificial ligament, together with any required anchoring mechanisms, is a tool used to support or replace the natural ligament. The intended performance, design qualities, materials, design evaluation, fabrication and inspection, sterilization, and packaging are a few crucial aspects to take into account when designing ligaments. The primary aspects to be taken into account in the design evaluation, pre-clinical and clinical studies are the mechanical loads and associated movements that the implants may experience during use, as well as fatigue testing of the highly stressed sections. Sports-related safety precautions are frequently overlooked, which can lead to a variety of moderate to serious injuries. A&E departments in England treated an estimated 165,000 cases of sports-related injuries in 2021, according to Accident & Emergency (A&E) figures released by the U.K. Parliament. The use of synthetic tendons and ligaments for knee, ankle, and tendon reinforcement will also rise due to the rising desire for minimally invasive procedures, government initiatives related to raising awareness about sports injuries, and developments in surgical techniques.
Complications from both autologous and allogeneic transplants include quadriceps weakening, tendon rupture, anterior knee discomfort, and loss of complete extension. Because of the potential hazards involved with autograft and allograft surgeries, synthetic materials for ligament restoration have been developed. Players in the industry and different research organizations are concentrating on R&D activities to identify a unique material with high tensile strength, abrasion resistance, and no immunological reaction. New synthetic ligament grafts that can integrate with natural bones, support the knee, and encourage the formation of new ligament tissues are also being developed by researchers. For instance, researchers at Hokkaido University created a flexible, robust, fiber-reinforced hydrogel biomaterial in July 2021 that can withstand normal wear and tear. The scientific team proposed that the substance may be used to create artificial ligaments, tendons, or organs. Therefore, it is projected that increasing R&D activities will maintain this market's strong growth trajectory.
US Artificial Tendons And Ligaments Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 9.78 million
Ambulatory Surgery Centers
Ambulatory Surgery Centers
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Global Artificial Tendons and Ligaments Market is segmented based on Application, and End-use. Based on Application the market is further sub-segmented into Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, and Other Injuries, and According to End users, the market is further sub-segmented into Hospitals and Clinics, Specialty Clinics, Ambulatory Surgery Centres, and Others.
Artificial Tendons And Ligaments Market Analysis by Application
Due to an increase in ACL injuries, the knee injuries segment is anticipated to see significant growth in the artificial tendons and ligaments market through 2028. These accidents typically happen while playing sports that require a lot of jumping and quick starts and stops. It should be emphasized that more than 70% of ACL tears take place without a hit or any type of contact with the knee. According to statistics, one in every 3,000 Americans suffers from an ACL injury. Over the predicted timeframe, these variables are expected to fuel segmental expansion.
Artificial Tendons And Ligaments Market Analysis by End-Use
Over the years 2022-2028, the hospitals and clinics segment is anticipated to grow profitably. The increased frequency of tendon repairs in outpatient settings with brief hospital stays is primarily responsible for this increase. Tendon grafts are one of the various devices needed for repair; they are applied by surgeons in cases of serious injury. Clinics and hospitals also offer a wide range of reconstruction and repair services, therefore the sector is expected to have significant growth over the next years.
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Due to increasing product acceptance and strong consumer awareness of artificial grafts for the treatment of various sports injuries, Europe held a significant market share in 2021. Furthermore, the market will be stimulated by the presence of major players in the area. For instance, the Patellar Tape System and Jewel ACL products are produced by Xiros Ltd in the UK, and the Corin Group sells LARS ligaments in the UK (under the brand name Neoligaments). Additionally, these firms are concentrating on extending their distribution networks in the area, which could increase product penetration. The primary European markets are Germany, France, and the United Kingdom, which together accounted for more than 60% of sales in 2021. This is because more people are participating in sports, which is leading to an increase in the frequency of anterior cruciate ligament (ACL) tears. A report from the Health Economics Review from 2021 estimates that 30,000 ACL ruptures are repaired annually in Germany, costing the country's hospitals US$ 129.61 million.
During the projection period, it is expected that the Asia Pacific market will expand significantly. The market is fuelled by significant research and development expenditures from major international market participants as well as raising public awareness of the benefits of using artificial tendons and ligaments for ACL surgeries. While China and India are expected to have strong growth over the predicted period, Australia and Japan are already well-established markets in the area. Currently, in the United States, synthetic grafts are preferred over using autologous, allogenic ligaments and tendons for orthopedic procedures involving the knee, ankle, and shoulder. Additionally, the LARS artificial ligament, which is popular in Canada and several European nations, has not received US FDA approval. Therefore, it is anticipated that impending product approvals against the backdrop of ongoing clinical trials would give the North American market a platform for growth over the projection period.
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The worldwide Artificial Tendons and Ligaments market appears fragmented, Because of the large number of participants. Players in corporate strategic efforts such as mergers and acquisitions, expansion, collaboration, and product/technology introduction seek to achieve a greater competitive share. They put a lot of money into changing the consumer and business scene, as well as driving R&D.
Artificial Tendons And Ligaments Market Top Players company Profiles
Artificial Tendons And Ligaments Market Recent Development
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According to our Global Artificial Tendons and Ligaments market analysis, in 2022, Asia Pacific is expected to dominate the Artificial Tendons and Ligaments Market Services market with increasing research and development expenditure and awareness among the people. Knee injuries and the rising aging population have emerged as major trends in this market.
|Market size value in 2021||USD 9.78 million|
|Market size value in 2030||USD 11.11 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Artificial Tendons And Ligaments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Artificial Tendons And Ligaments Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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The artificial tendons and ligaments market is expected to witness market growth at a rate of 12.19% in the forecast period of 2022 to 2029 .
Knee Injuries Segment is Expected to Hold the Largest Market Share in the Artificial Tendons and Ligaments Market.
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