North America Soft Tissue Repair Market to Grow at a CAGR of 6.3% to reach US$ 5,846.24 million from 2021 to 2028

North America Soft Tissue Repair Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Fixation Instruments and Tissue Mesh/Patch) and Application (Orthopedic Repair, Hernia Repair, Breast Reconstruction, Pelvic and Vaginal Prolapse Repair, Skin Repair, Dental Repair, Dural Repair, and Others)

Publication Month : Nov 2021

  • Report Code : TIPRE00025733
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 184
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The North America soft tissue repair market is expected to grow from US$ 3,806.87 million in 2021 to US$ 5,846.24 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.

Playing sports benefits adolescents physiologically, psychologically, and socially. It helps improve health conditions, self-esteem, and social interactions, alongside decreasing the risk of depression. However, sports practice is inevitably linked with the occurrence of injuries. In the US, alone, 3.5 million youth under the age of 15 receive medical care every year for injuries caused during sports practice. In addition, two-thirds of these injuries required care in emergency units. According to estimates by Stanford Children’s Health, in 2019, ~30 million children participated in sports and other recreational activities in the US. Also, ~3.5 million injuries are reported in the country each year, and ~75,000 children of age 14 and below are treated for these injuries. This high participation rate of children in sports, coupled with an increase in injuries, is creating demand for sports medicines. Contact sports such as basketball and football, involving contact and collision, possess a higher rate of sports injuries. This leads to severe injuries to joints, bones, and tendons, and other soft tissues. Such injuries require emergency treatment or even surgical procedures. As per Spinal Cord, Inc., ~170,000 children with basketball-related injuries were treated in hospital emergency rooms. Thus, the rising prevalence of sports injuries is contributing to the soft tissue repair market growth.

In North America, the US and Mexico witnessed a spike in COVID-19 cases, which has compelled the governments to restrict business activities to prevent the spread of the virus. At present, all the efforts and resources are being put toward mitigating this crisis, which has slowed down other economic activities. The COVID-19 outbreak has had a significant impact on all aspects of orthopedic care and practice. The outbreak pandemic has negatively affected activities related to the outpatient clinic, emergency and elective surgery, rehabilitation, resident training, personnel management, personal protective equipment use, telemedicine, and all sub-specialties of orthopedics. Therefore, the crisis is restraining the growth of the soft tissue repair market in North America.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America soft tissue repair market. Technological developments in regenerative medicine and new product launches by North America and local players are likely to be instrumental in the future growth of the soft tissue repair market players. Cutting-edge technologies offer competitive advantages to companies. In July 2021, B.D. acquired Tepha, Inc., a leading developer and manufacturer of proprietary resorbable polymer technology. The poly 4-hydroxybutyric acid (P4HB) technology platform, Tepha's proprietary resorbable polymer, provides additional innovation potential that can accelerate the growth of B.D.'s surgical mesh portfolio focused on new areas of soft tissue repair, reconstruction, and regeneration. In April 2020, In2Bones launched ClearGuard LE Endoscopic Soft Tissue Release System for the US-based orthopedic and podiatric specialists to treat a variety of foot problems. The company is a US-based designer, manufacturer, and distributor of medical devices for treating disorders and injuries. The ClearGuard LE Endoscopic Soft Tissue Release System gives orthopedic and podiatric specialists an easy-to-use, repeatable, and cost-effective system for high-volume lower extremity soft tissue surgeries on plantar fascia, gastrocnemius, tarsal tunnel, and Morton’s neuroma. Furthermore, in February 2020, Aroa Biosurgery, a privately held soft-tissue repair company, launched Myriad, a new product for soft tissue repair and reconstruction in the US market. The release of Myriad marks the next step of growth for Aroa and its commitment to providing leading solutions that are accessible for both clinicians and their patients.
 
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North America Soft Tissue Repair Market Segmentation

North America Soft Tissue Repair Market – By Product

  • Fixation Instruments
  • Tissue Mesh/Patch

North America Soft Tissue Repair Market – By Application

  • Orthopedic Repair
  • Hernia Repair
  • Breast Reconstruction
  • Pelvic and Vaginal Prolapse Repair
  • Skin Repair
  • Dental Repair
  • Dural Repair
  • Others

North America Soft Tissue Repair Market – By Country

  • US
  • Canada
  • Mexico
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

  1. Smith & Nephew
  2. DePuy Synthes
  3. Arthrex, Inc.
  4. Medtronic
  5. Integra Life Sciences Corporation
  6. Stryker Corporation
  7. BD
  8. Organogenesis Inc.
  9. Allergan Plc.
  10. W. L. Gore and Associates, Inc.
  11. Cook Medical LLC
  12. B. Braun Melsungen AG
  13. DSM
  14. Baxter International Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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