Meridian Market Consultants (MMC) has published a new report titled, “Artificial Tendons and Ligaments Market: Opportunity Analysis and Future Assessment 2019 to 2028. According to the report, the Artificial Tendons and Ligaments Market in 2020 is estimated for more than US$ 18.3 Mn and expected to reach a value of US$ 53.0 Mn by 2028 with a significant CAGR of 14.2%. As per the report, the artificial tendons and ligaments market is driven by factors like increasing incidences of sports injuries, numerous on-going R & D activities on artificial tendons and ligaments coupled with the adoption of minimally invasive surgeries. The base year considered for the study is 2019, and the market size is projected from 2020 to 2028.
Artificial Tendons and Ligaments Market Dynamics
Majorly, the injuries from sports and athletes drive the market growth; besides, the development in surgery techniques, increasing government initiatives to encourage sports and the development in the surgical processes will also result in enhancing the adoption of synthetic tendons, thereby augmenting the growth of the artificial tendons and ligaments market.
Growing awareness about the updated advanced surgical procedure and introduction of emerging treatments such as anterior cruciate ligament (ACL), active biosynthetic composite (ABC), along with the incidence of advanced growing penetration of hospitals in rural regions also anticipates the market growth.
The market also favors growth by the adoption of technological advancements for the invention of the hi-tech machine for risk-free surgeries with the increasing healthcare expenditure and rising medical tourism.
Besides, the ongoing research activities and the market expansion in developing regions serve to create market opportunities. Whereas, the intense competition among the key players, lack of skilled and trained doctors, and the lack of evidence favoring the efficiency of artificial tendons and ligaments serve to be challenging factors declining the market growth.
Artificial Tendons and Ligaments Market Segmentation
The artificial tendons and ligaments market is segmented on the basis of application, end-use, and by region.
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Hospitals & Clinics
- Ambulatory Surgery Centers (ASC)
- North America
- Asia Pacific
- Latin America
- Middle East
Artificial Tendons and Ligaments Market Competitive Landscape
Key players operating in the artificial tendons and ligaments market include
- Cousin Biotech
- FH Orthopedics
- FX Solutions S.A.S.
- Mathys AG
- Orthomed S.A.S
- Shanghai Pine & Power Biotech Co., Ltd.
- Xiros Ltd.
On the basis of region, the artificial tendons and ligaments market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.