What is the global market size of Artificial Tendons And Ligaments Market?

Global Artificial Tendons And Ligaments Market size was valued at USD 9.78 million in 2021 and is poised to grow from USD 11.11 million in 2022 to USD 35 million by 2030, growing at a CAGR of 13.6% in the forecast period (2023-2030).

Artificial Tendons And Ligaments Market Size, Share, Growth Analysis, By End-Use(Hospitals, Clinics, Specialty Clinics), By Application(Knee Injuries, Shoulder Injuries, Foot, Ankle Injuries), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35J2093 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 65 | Figures: 75

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The artificial tendons and ligaments market is expected to witness market growth at a rate of 12.19% in the forecast period of 2022 to 2029 .

Knee Injuries Segment is Expected to Hold the Largest Market Share in the Artificial Tendons and Ligaments Market.

Artificial Tendons And Ligaments Market size was valued at USD 9.78 million in 2019 and is poised to grow from USD 11.11 million in 2023 to USD 35 million by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).

The worldwide Artificial Tendons and Ligaments market appears fragmented, Because of the large number of participants. Players in corporate strategic efforts such as mergers and acquisitions, expansion, collaboration, and product/technology introduction seek to achieve a greater competitive share. They put a lot of money into changing the consumer and business scene, as well as driving R&D. 'Johnson & Johnson Services, Inc.', 'Arthrex Inc.', 'Cousin Biotech', 'FX Solutions', 'Integra LifeSciences Holdings Corporation', 'LARS (Corin Group)', 'Mathys AG Bettlach', 'Medtronic plc', 'Neoligaments (Xiros)', 'Orthonika, Inc.', 'Össur hf', 'Performance Fibers Inc.', 'Shanghai Pine&Power Biotech Co., Ltd.', 'Smith & Nephew plc', 'Stryker Corporation', 'Surgical Frontiers LLC', 'Tornier Inc.', 'United Orthopedic Corporation', 'Zimmer Biomet Holdings, Inc.', 'Zipline Medical, Inc.'

The primary element influencing the market is the rise in sports injuries. The majority of sports-related injuries are brought on by mishaps, bad technique, inadequate warm-up, and stretching, and a lack of conditioning. Among the most frequent sports injuries seen in athletes include tennis elbow, ankle sprains, groyne pulls, hamstring strains, and ACL tears.

The segment for knee injuries is anticipated to have the largest market share. This is primarily because of factors like the rise in sports participation, which increases the likelihood of knee injuries, patient discomfort at the target site as a result of traditional surgical treatment approaches using allografts, etc. Artificial ligaments for knee injuries provide distinct advantages over allografts and autografts, including shorter recovery times, higher availability, and faster procedure times than donor tendon grafts.

Due to increasing product acceptance and strong consumer awareness of artificial grafts for the treatment of various sports injuries, Europe held a significant market share in 2021. Furthermore, the market will be stimulated by the presence of major players in the area. For instance, the Patellar Tape System and Jewel ACL products are produced by Xiros Ltd in the UK, and the Corin Group sells LARS ligaments in the UK (under the brand name Neoligaments). Additionally, these firms are concentrating on extending their distribution networks in the area, which could increase product penetration. The primary European markets are Germany, France, and the United Kingdom, which together accounted for more than 60% of sales in 2021. This is because more people are participating in sports, which is leading to an increase in the frequency of anterior cruciate ligament (ACL) tears. A report from the Health Economics Review from 2021 estimates that 30,000 ACL ruptures are repaired annually in Germany, costing the country's hospitals US$ 129.61 million.

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Artificial Tendons And Ligaments Market Size, Share, Growth Analysis, By End-Use(Hospitals, Clinics, Specialty Clinics), By Application(Knee Injuries, Shoulder Injuries, Foot, Ankle Injuries), By Region - Industry Forecast 2024-2031

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