Global Orthopedic Soft Tissue Repair Market

Global Orthopedic Soft Tissue Repair Market Size, Share, Growth Analysis, By Application(Rotator Cuff Repair, Epicondylitis), By Injury Location(Knee, Shoulder) - Industry Forecast 2024-2031

Report ID: SQMIG35A2582 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 70 | Figures: 65

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Global Orthopedic Soft Tissue Repair Market size was valued at USD 6.60 billion in 2022 and is poised to grow from USD 7.15 billion in 2023 to USD 13.53 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The competitive landscape of the global orthopedic soft tissue repair market is marked by intense rivalry among key players striving to establish their prominence. Leading medical device companies are engaged in strategic initiatives such as mergers, acquisitions, collaborations, and partnerships to expand their product portfolios and geographical presence. These players focus on continuous research and development to introduce innovative and technologically advanced soft tissue repair solutions, enhancing patient outcomes. 'Arthrex, Inc. (United States)', 'Johnson & Johnson (United States)', 'Smith & Nephew plc (United Kingdom)', 'Stryker Corporation (United States)', 'Medtronic plc (Ireland)', 'Zimmer Biomet Holdings, Inc. (United States)', 'CONMED Corporation (United States)', 'DePuy Synthes (United States)', 'Ceterix Orthopaedics (United States)', 'ArthroCare Corporation (United States)'

The increasing prevalence of sports-related injuries, trauma cases, and degenerative musculoskeletal conditions is driving the demand for effective soft tissue repair solutions.

Minimally Invasive Procedures: Increasing preference for minimally invasive surgical techniques for orthopedic soft tissue repair is a prominent trend. Patients and surgeons alike are opting for procedures that offer quicker recovery, reduced postoperative pain, and shorter hospital stays.

In 2022, North America held the predominant market share of 45.0%, primarily influenced by the escalating number of knee arthroscopies conducted within the region. Notably, an article published by the Osteoarthritis Research Society International revealed that out of the annual 1 million knee arthroscopies performed in the United States, a substantial 700,000 involved meniscus procedures. The region's growth is further propelled by the augmentation of healthcare expenditure and investments in healthcare infrastructure. Increased healthcare spending plays a pivotal role in rendering costly orthopedic soft tissue repair surgeries more accessible. For instance, data from the National Health Expenditure (NHE) study conducted by KFF elucidated that the total national health expenditure in the U.S. surged from USD 3,178 billion in 2015 to USD 3,795 billion in 2019.

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