As per the report published by Fior Markets, the global artificial tendons, and ligaments market is projected to reach USD 52.3 Million by 2025 from USD 17.35 Million in 2017, achieving a CAGR of 14.47% during the forecast period from 2018-2025. Europe market is expected to witness substantial growth over the next decade because, in this region, the demand for artificial ligaments and tendons products is high as well as the number of government initiatives regarding sport-related injuries has increased.
Global Artificial Tendons And Ligaments Market by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries and other injuries), Region and Global Forecast 2018-2025.
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Major companies in the industry 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 among others. As a part of obtaining market share, key players are continuously focused on new product developments, acquisition, and expansion and venture capital investments. For instance, in 2018, FX Solutions launched its new U.S. subsidiary FX Shoulder in Dallas. The formation will help FX Solutions expand its shoulder implant footprint into U.S. markets.
The application segment includes knee injuries, shoulder injuries, foot and ankle injuries, spine injuries, and hip injuries. Increasing prevalence of sports injuries is the key driver of the growth of the artificial ligaments and tendons market. The Centers for Disease Control and Prevention (CDC) has estimated that in 2016, average annual sports injury estimated 8.6 million per year in the United States. Increasing incidences of sports injuries are favoring the artificial ligaments and tendons equipment & supplies in the future.
The use of artificial tendons and ligaments in surgical reconstruction led to form new clinical procedures for patients. Rising incidence of sports injuries and an increasing number of initiatives to increase awareness about artificial tendons and ligaments are the key drivers of the artificial tendons and ligaments market. But the estimates show that unwillingness to use artificial tendons and ligaments among healthcare providers and high procedure costs, unfavorable reimbursement scenario could inhibit the growth of the artificial tendons and ligaments market.
Increasing and for modern surgical treatments that cause minimal discomfort to patients is expanding the clinical prospects of the artificial tendons and ligaments market. This factor is driving the growth of the market. In developed and developing countries, rapid advances made in knee replacement procedures are also contributing to the growth of the market in the coming years.
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