SAN FRANCISCO, March 5, 2019 /PRNewswire/ -- The global artificial tendons and ligaments marketsize is anticipated to reach USD 39.7 million by 2025 at an 11.3% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Adoption of artificial grafts is on a rise owing to several benefits over autologous and allogenic grafts, such as high tensile strength, no immune reaction, and abrasion resistance. Increase in number of sports injuries, coupled with rising government efforts to create awareness about sports injuries and available medical reimbursements, is anticipated to fuel market growth.
Key suggestions from the report:
- The knee injuries segment held a major share in 2018 owing to increase in incidences of knee injuries, coupled with faster recovery observed with the use of artificial ligaments in comparison to autologous or allogenic grafts
- The hospitals and clinics end-use segment is expected to hold a significant share during the forecast period. Growth of the segment can be attributed to higher readmission rate for treatment of ACL reconstruction procedures and collaborative activities between key players and orthopedic clinics to create awareness about artificial tendons and ligaments.
- As of 2018, Europe accounted for the largest market share. Surge in number of sports injuries among young athletes, rising geriatric population prone to orthopedic disorders, and presence of key players in the region will boost the regional market
- The U.K. artificial tendons and ligaments market is expected to grow substantially over the forecast period. This growth is predicted to be majorly driven by increasing adoption of artificial tendons and ligaments, rising incidence of accidents, R&D of innovative product design, and favorable patient demographics.
- Growing healthcare expenditure, coupled with rising penetration of health insurance in Latin America and Asia Pacific countries such as China, India, Brazil, and Argentina are providing considerable growth opportunities to market players
- Industry players have been involved R&D activities to deliver novel products in the market. Companies are also strategically involved in expanding their geographical presence through distribution agreements to expand their customer base.
Read 90 page research report with TOC on "Artificial Tendons and Ligaments Market Analysis Report By Application (Knee Injuries, Shoulder Injuries, Foot & Ankle Injuries), By End Use (Hospitals & Clinics, ASCs), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/artificial-tendons-ligaments-market
For instance, the Government of Finland in collaboration with UKK Institute has been conducting a 'LiVE-program' since 2016 to improve safety in sports increase awareness about injury risks, sports training, and content of physical activity sessions. Over the past several decades, increase in participation of children and adolescents has been observed in various sports such as football, soccer, bicycles, handball, basketball, and volleyball. Moreover, increase in awareness about physical fitness among people will contribute to market growth.
Other factors likely to contribute to market growth include rising preference for minimally invasive surgery, continuous advancements in surgical procedures, and growing funding and research activities to develop novel materials for synthetic tendons and ligaments. Moreover, positive outcomes reported through various clinical trials pertinent to usage of artificial ligaments will accelerate growth in the near future. For instance, according to a study published in 2017 in NCBI, patients treated with artificial ligament after femoral tumor resection and reconstruction procedures exhibited a more stable hip joint and more active range of movement as compared to patients who did not received a synthetic ligament.
Grand View Research has segmented the global artificial tendons and ligaments market on the basis of application, end use, and region:
- Artificial Tendons and Ligaments Application Outlook (Revenue, USD Million, 2014 - 2025)
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Others
- Artificial Tendons and Ligaments End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Artificial Tendons and Ligaments Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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