The soft tissue anchors market is expected to grow from US$ 677.68 million in 2022 to US$ 912.27 million by 2028; it is expected to register a CAGR of 5.1% from 2022 to 2028.
Soft tissue anchors are soft tissue fixation devices generally used in orthopedic surgeries. Orthopedic bone fractures and injuries can be caused due to various reasons such as acute trauma, sports, and heavy physical activities. Sutures, anchors, and interference screws are various fixation devices used for soft tissue fixation. Dislocation of the shoulder is common among athletes, and the arthroscopic bankart repair method using soft tissue anchors is the most preferred method for treating shoulder dislocation. The increase in sports injuries, orthopedic surgeries, and the significant increase in the geriatric and obese population are the key factors that are driving the growth of the soft tissue anchors market. However, the high cost of surgeries and unfavorable reimbursement scenarios are hampering the market growth.
The report offers insights and in-depth analysis of the soft tissue anchors market, emphasizing various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of global leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. Many health authorities focused on the COVID-19-pandemic-related care. They avoided human contact due to growing transmission and strain on healthcare resources by postponing elective surgeries, suspending outpatient clinics, and triaging employees involved in urgent care. Furthermore, many countries imposed restrictions on nonclinical staff's access to the facility and guests. Orthopedic surgeons have experienced major effects on their ability to offer timely and high-quality surgical care, training, and research due to these changes. Recent COVID-19 guidelines for pediatric orthopedic surgeons suggested focusing on urgent care and triaging cases to postpone elective surgeries and clinic appointments, transitioning to virtual-based care when appropriate.
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Soft Tissue Anchors Market: Strategic Insights
Soft Tissue Anchors Market
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CAGR (2022 - 2028)
5.1%
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Market Size 2022
US$ 677.68 Million
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Market Size 2028
US$ 912.27 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Smith & Nephew Plc.
- CONMED Corporation
- Johnson & Johnson Services, Inc. (DePuy Synthes)
- Zimmer Biomet
- Arthrex, Inc.
- Stryker Corporation
- Medtronic
- Cook Medical LLC
- Aju Pharm Co.,Ltd.
- DJO, LLC (Colfax Corporation)
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Absorbable and Non-Absorbable
Tying Type
- Knotted and Knotless
Material
- Metallic Suture Anchor
- Bio-Absorbable Suture Anchor
- PEEK Suture Anchor
- Bio-Composite Suture Anchor
- Other
End User
- Hospital
- Clinic
- Emergency Medical Service
- Other
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Soft Tissue Anchors Market: Strategic Insights
-
CAGR (2022 - 2028)5.1% -
Market Size 2022
US$ 677.68 Million -
Market Size 2028
US$ 912.27 Million
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Smith & Nephew Plc.
- CONMED Corporation
- Johnson & Johnson Services, Inc. (DePuy Synthes)
- Zimmer Biomet
- Arthrex, Inc.
- Stryker Corporation
- Medtronic
- Cook Medical LLC
- Aju Pharm Co.,Ltd.
- DJO, LLC (Colfax Corporation)
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Absorbable and Non-Absorbable
Tying Type - Knotted and Knotless
Material - Metallic Suture Anchor
- Bio-Absorbable Suture Anchor
- PEEK Suture Anchor
- Bio-Composite Suture Anchor
- Other
End User - Hospital
- Clinic
- Emergency Medical Service
- Other
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Many companies manufacturing soft tissue anchors focus on responding to emergencies by various strategies such as manufacturing PPEs for healthcare workers and distribution of pharmaceutical drugs. For instance, in September 2020, Arthrex, a global leader in minimally invasive orthopedic technology, announced it is using its innovative capabilities to manufacture and donate over 6,000 protective face shields to school systems across the region. Similarly, the company collaborated with medical professionals, local emergency services, and health care administrators to assess the biggest needs of the essential workers treating and interacting with patients infected with SARS-CoV-2. The most significant project involves manufacturing protective face shields and hoods. Thus, the COVID-19 pandemic hampered the soft tissue anchors market.
The soft tissue anchors market is segmented into type, tying type, material, end user, and geography. By region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
Lucrative Regions for Soft Tissue Anchors Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Sports Injuries and Orthopaedic Surgeries
Sports have experienced tremendous growth, and a large population is opting for an active lifestyle, increasing physical activities such as gym and sports. This has led to a surge in sports-related injuries such as rotator cuff injuries, ligament tears, and tendon rupture. According to the Johns Hopkins Medicine report, ~3.5 million sports injuries are reported annually in the US. As per Hospital for Special Surgery, rotator cuff injuries are very common and affect 2-4 million people in the US every year. Rotator cuff conditions develop over time, and it is very common among athletes and the geriatric population and can cause trauma. Thus, an increase in sports and physical activities is expected to create demand for soft tissue anchors and contribute to the market's growth.
The increasing geriatric population is highly prone to various orthopedic conditions such as joint disorders, anterior cruciate ligament (ACL) injuries, joint fusion, osteoarthritis, and others. As per the Center Orthopedic & Neurosurgical Care & Research, by 2030, total knee replacement surgeries are projected to grow by 673% to 3.5 million procedures per year. This has increased orthopedic surgeries, which creates the demand for soft tissue anchors. Moreover, the rising demand for minimally invasive procedures has increased arthroscopic surgeries owing to various advantages such as faster recovery and short hospital stays. According to Harvard Medical School, knee arthroscopy is one of the most common surgeries performed on a large scale; every year ~750,000 arthroscopic knee operations are performed in the US, with a total cost of US$ 4 billion. Moreover, an increase in the number of road accidents and trauma cases is expected to contribute to a major share of orthopedic surgeries. As per the US Department of Transportation, over ~6 million car accidents occur every year in the US. In Florida, over ~350,000 drivers are involved in road accidents, which lead to 200,000 injuries every year, including spine injuries, knee injuries, and others.
Thus, the high adoption rate of an active lifestyle, increase in sports activities and sports injuries, the surge in orthopedic surgeries owing to the large geriatric population, and increase in trauma cases are driving the growth of the soft tissue anchors market.
Type-Based Insights
Based on type, the soft tissue anchors market is bifurcated into absorbable and non-absorbable. In 2022, the absorbable segment accounted for a larger share of the market; it is expected to continue its dominance over the forecast period. The absorbable soft tissue anchors are widely used as they get absorbed in the body and reduce medical complications. Moreover, the absorbable segment is expected to register the highest CAGR in the soft tissue anchors market from 2022 to 2028.
Soft Tissue Anchors Market, by Type – during 2022-2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Based on typing type, the soft tissue anchors market is bifurcated into knotted and knotless. The knotless segment held a larger market share in 2021, and it is anticipated to register the highest CAGR during the forecast period.
- Based on material, the soft tissue anchors market is segmented into metallic suture anchor, bio-absorbable suture anchor, PEEK suture anchor, bio-composite suture anchor, and others. The PEEK suture anchor segment held the largest share of the market in 2022; however, the bio-composite suture anchor segment is anticipated to register the highest CAGR of 5.7% in the market during the forecast period.
- Based on application, the soft tissue anchors market is segmented into health management, financial health management, home health management, and others. The health management segment held the largest market share in 2022, and it is anticipated to register the highest CAGR in the market during the forecast period.
- Based on end user, the soft tissue anchors market is segmented into hospitals, clinics, emergency medical services, and others. The hospitals segment held the largest market share in 2022; however, the emergency medical services segment is estimated to register the highest CAGR of 5.7% in the market during the forecast period.
The soft tissue anchors market players adopt organic strategies such as product launch and expansion to expand their global footprint and product portfolio and meet the growing demand. In May 2022, Conmed acquired privately-held In2Bones Global, Inc. (In2Bones), on a cash-free, debt-free basis, for cash consideration of US$145 million at closing and up to an additional US$110 million in growth-based earn-out payments over four years.
Geography-Based Insights
By geography, the soft tissue anchors market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Company-Based Insights
Smith & Nephew Plc.; CONMED Corporation; Johnson & Johnson Services, Inc. (DePuy Synthes); Zimmer Biomet; Arthrex, Inc.; Stryker Corporation; Medtronic; Cook Medical LLC; Aju Pharm Co., Ltd.; and DJO, LLC (Colfax Corporation) are among the leading companies operating in the soft tissue anchors market.
Soft Tissue Anchors Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 677.68 Million |
| Market Size by 2028 | US$ 912.27 Million |
| Global CAGR (2022 - 2028) | 5.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Tying Type, Material, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Soft tissue anchors are soft tissue fixation devices generally used in orthopedic surgeries. Orthopedic bone fractures and injuries can be caused due to various reasons such as acute trauma, sports, and heavy physical activities. Sutures, anchors, interference screws are various fixation devices that are used for soft tissue fixation. Dislocation of the shoulder is a common occurrence among athletes, and the Arthroscopic Bankart Repair method using soft tissue anchors is the most preferred method for treating shoulder dislocation.
Increase in sports injuries, orthopedic surgeries, and significant growth in the geriatric and obese population are the most significant factors responsible for the overall market growth.
Based on type, absorbable segment took the forefront leaders in the worldwide market by accounting largest share in 2022 and is expected to continue to do so till the forecast period.
The hospital segment dominated the global soft tissue anchors market and accounted for the largest revenue of 232.55 Mn in 2021.
Smith & Nephew Plc.; CONMED Corporation; Johnson & Johnson Services, Inc. (DePuy Synthes); Zimmer Biomet; Arthrex, Inc.; Stryker Corporation; Medtronic; Cook Medical LLC; Aju Pharm Co.,Ltd.; DJO, LLC (Colfax Corporation) are among the leading companies operating in the global soft tissue anchors market
Global soft tissue anchors market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for soft tissue anchors market during the forecast period. The presence of major market players and rising prevalence of sports injuries and increasing number of orthopedic procedures are the contributing factors for the regional growth. Additionally, increase in geriatric and obese population along with rising prevalence of orthopedic disorders are the key factor responsible for the Asia-Pacific regional growth for soft tissue anchors accounting fastest growth of the region during the coming years.
- Smith & Nephew Plc.
- CONMED Corporation
- Johnson & Johnson Services, Inc. (DePuy Synthes)
- Zimmer Biomet
- Arthrex, Inc.
- Stryker Corporation
- Medtronic
- Cook Medical LLC
- Aju Pharm Co.,Ltd.
- DJO, LLC (Colfax Corporation)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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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
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Below is the breakup of our primary respondents by company, designation, and region:
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.
- 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:
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- 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:
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- 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.
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