Product ID: SQMIG35J2093
Global Artificial Tendons And Ligaments Market Size, Share, Growth Analysis, By End-Use(Hospitals, Clinics), By Application(Knee Injuries, Shoulder Injuries) - Industry Forecast 2024-2031
Report ID:
SQMIG35J2093 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|
Tables:
65 |
Figures:
75
Global Artificial Tendons And Ligaments Market Regional Insights
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.
Global Artificial Tendons And Ligaments Market Report Snapshots
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