Fior Markets launched a study titled “Artificial Tendons and Ligaments Market by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries and other injuries), Region” and Global Forecast 2018-2025.
The global artificial tendons and ligaments market is expected to grow from USD 17.35 Million in 2017 to USD 52.3 Million by 2025 at a CAGR of 14.47% during the forecast period from 2018-2025. Rising number of sports injuries is a major factor driving the growth and increasing awareness amongst the patients and healthcare professionals pertinent to the associated benefits with the use of artificial ligaments and tendons is expected to drive the market growth over the forecast period. In addition to this, the increase in adoption of orthobiologics is expected to accelerate the artificial ligaments and tendons market growth.
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Application based segment is expected to grow at the highest CAGR of 17.38% in the forecast period
The application segment is classified into knee injuries, shoulder injuries, foot and ankle injuries, spine injuries, and hip injuries. Increasing prevalence of sports injuries is a major factor driving the growth of the artificial ligaments and tendons market. According to the Centre for Health Protection of the Department of Health in 2016, 14% of the European people suffer by sports injuries each year. This shows the high demand for artificial ligaments and tendons products in future.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Europe region held the largest market share and was valued around USD 7.20 million in 2017. Europe region held the largest market share, this is attributed to high demand for artificial ligaments and tendons products in this region and increase in a number of government initiatives regarding sport-related injuries. Asia pacific is the second fastest growing region due to supportive government initiatives to encourage procedures regarding sports-related injuries, growing disposable income, increasing awareness towards healthier life style and improve in healthcare infrastructure in emerging economies.
The major players of market include FX Solutions, Mathys AG Bettlach, LARS, Cousin Biotech, Neoligaments, Orthomed S.A.S, and Shanghai PINE&POWER Biotech Implant Systems, Internal Fixation Systems, Medtronic, Merlot OrthopediX, Orthofix, Osteomed, Rigid FX Corporation, Small Bone Innovations, Inc, Smith & Nephew, Stryker Corporation, Suspension Orthopaedic Solutions, Synthes, Tornier, Inc, TriMed, Inc., Vilex, Wright Medical, Zimmer Holdings, Inc. and others. Technological advancements by major manufacturers are accelerating the growth of the market. For instance, in 2018 Corin group, which an international orthopaedic company has acquired Global Orthopaedic Technology Pty Ltd., an orthopaedic implant designer and manufacturer. This acquisition will strengthen Corin’s position in the hip and knee joint replacement market.
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