Global Soft Tissue Repair Market size to grow by USD 3.42 billion from 2022-2027 | 3M Co., Acera Surgical Inc., and AlloSource are some leading market companies – Technavio
NEW YORK, Sept. 21, 2023 /PRNewswire/ — The Global Soft Tissue Repair Market size is projected to grow by USD 3.42 billion, accelerating at a CAGR of over 4.5% during the forecast period. Companies are using various strategies like alliances, partnerships, mergers, expansions, and product launches to boost their market presence. The report also examines the market’s competitive landscape and profiles 20 market companies including 3M Co., Acera Surgical Inc., AlloSource, Arthrex Inc., Artivion Inc., Becton Dickinson and Co., Conmed Corp., Ed. Geistlich Sohne AG, Integra Lifesciences Corp., Johnson and Johnson, JRF Ortho, Koninklijke DSM NV, LifeCell International Pvt. Ltd., LifeNet Health Inc., Medtronic Plc, RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., Tissue Regenix Group Plc and Zimmer Biomet Holdings Inc. To gain access to more companies profiles available with Technavio, Request Free PDF Sample Report
Global Soft Tissue Repair Market: Segmentation Analysis
Technavio has segmented the market into end-user (hospitals, ambulatory surgical services, and clinics), product (soft tissue fixation devices and accessories, cell therapy, and tissue scaffold) and geography (North America, Europe, Asia, and Rest of World (ROW))
During the forecast period, the hospitals segment is expected to experience substantial growth in the Global Soft Tissue Repair market. Hospitals are the main end users driving market expansion. Orthopedic soft tissue repair product manufacturers are dedicated to delivering top-quality products to hospitals, aiming to improve their brand image and extend their product presence. Hospitals are increasingly utilizing these devices for the diagnosis of conditions such as diabetic retinopathy, cardiovascular disease, and dermatology to enhance treatment effectiveness.
Global Soft Tissue Repair Market: Regional Analysis
North America is expected to contribute 34% to the growth of the Global Soft Tissue Repair Market: during the forecast period. This growth is driven by increased funding from institutions like the National Institutes of Health (NIH) and the Agency for Research and Biomedical Advanced Development (BARDA) in the US, aimed at developing stem cell and tissue products for treating various diseases. Stem cell applications and advances in nanotechnology in cell therapy are further boosting progress.
Market players like Medtronic are increasing research and development investments to create innovative medical therapies, contributing to overall market growth. The North American market is characterized by many players, both large and small, and is witnessing an uptick in mergers, acquisitions, and strategic alliances, leading to expanded product offerings and new developments. These factors are set to drive market growth in the region.
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Global Soft Tissue Repair Market: Drivers
Reimbursement for soft tissue repair products drives the Global Soft Tissue Repair market growth. Developed countries are experiencing an increase in sales due to the availability of reimbursement for surgical and orthopedic soft tissue repair products. This is evident in instances such as NORAKER’s LockActiv screw in France and Taisho Pharmaceutical’s LOQOA Tape in Japan, both benefiting from reimbursement policies. In the United States, CMS reimbursement for FDA-approved soft tissue products encourages healthcare providers to offer better medical services. These factors are expected to fuel the global soft tissue repair market’s growth during the forecast period.
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Related Reports:
Cardiovascular and Soft Tissue Repair Patches Market: The Global Cardiovascular and Soft Tissue Repair Patches Market size is estimated to grow by USD 1,824.22 million at a CAGR of 7.95% between 2022 and 2027.
Orthopedic Soft Tissue Repair Devices Market: The orthopedic soft tissue repair devices market is estimated to grow at a CAGR of 11.05% between 2022 and 2027. The size of the market is forecast to increase by USD 5,633.11 million.
What are the key data covered in this soft tissue repair market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the soft tissue repair market between 2022 and 2027.
- Precise estimation of the soft tissue repair market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of soft tissue repair market vendors.
Table of Content
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Sizes
- Five Forces Analysis
- Market Segmentation by End-user
- Market Segmentation by Product
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, & Trends
- Company Landscape
- Company Analysis
- Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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