Orthopedic Soft Tissue Repair Market Size, Share, Growth Analysis, By Application(Rotator Cuff Repair, Epicondylitis, Achilles Tendinosis Repair, Pelvic Organ Prolapse), By Injury Location(Knee, Shoulder, Hip, Small Joints), By Region - Industry Forecast 2024-2031

In 2022, North America held the predominant market share of 45.0%, primarily influenced by the escalating number of knee arthroscopies conducted within the region. Notably, an article published by the Osteoarthritis Research Society International revealed that out of the annual 1 million knee arthroscopies performed in the United States, a substantial 700,000 involved meniscus procedures. The region's growth is further propelled by the augmentation of healthcare expenditure and investments in healthcare infrastructure. Increased healthcare spending plays a pivotal role in rendering costly orthopedic soft tissue repair surgeries more accessible. For instance, data from the National Health Expenditure (NHE) study conducted by KFF elucidated that the total national health expenditure in the U.S. surged from USD 3,178 billion in 2015 to USD 3,795 billion in 2019.

On the other hand, the Asia Pacific region is poised to exhibit the swiftest growth with a projected CAGR of 9.7% during the forecast period. This surge is attributed to the mounting prevalence of musculoskeletal disorders and a simultaneous rise in disposable income. The region's market expansion is further facilitated by a robust presence of local medical device manufacturers, bestowing substantial growth prospects. Additionally, the market is driven by ongoing research endeavors, notably in Japan and India, coupled with a sizable geriatric population susceptible to musculoskeletal ailments. Japan, in particular, stands out with the highest geriatric demographic within the region.