A recent study by Triton Market Research titled ‘Global Soft Tissue Repair Market,’ covers the Global Analysis and Forecasts By Product Type (Tissue Mesh [Biological Mesh {Allograft, Xenograft}, Synthetic Mesh]; Laparoscopic Instruments; Fixation Devices [Interference Screw, Suture Anchors]), By Applications (Skin Repair, Dural Repair, Pelvic and Vaginal Prolapse Repair, Head and Neck Products, Dental Repair, Orthopedic Repair, Hernia Repair, Breast Reconstruction), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
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The report estimates the global soft tissue repair market to exhibit a CAGR of 6.16% during the forecasting years 2021-2028, garnering a revenue worth $27570.5 million by 2028.
A rise in the aging populace presents diverse healthcare challenges. For instance, soft tissue damage-associated diseases, like soft tissue carcinoma and others, are diagnosed more frequently in the elderly. Thus, the rates of such diseases that would require soft tissue repair, are also expected to rise. The increase in soft tissue repair and restoration procedures further fuels the growth of the soft tissue repair market. However, an unfavorable reimbursement scenario for both physicians and patients is impeding the market’s development.
The market for soft tissue repair is segmented into product type and applications. Based on product type, it is categorized into tissue mesh, laparoscopic instruments, and fixation devices.
Tissue mesh is bifurcated into biological mesh and synthetic mesh. Whereas, fixation devices is bifurcated into interference screw and suture anchors. Biological mesh further consists of allograft and xenograft.
Whereas, based on applications, the market is divided into skin repair, dural repair, pelvic and vaginal prolapse repair, head and neck products, dental repair, orthopedic repair, hernia repair, breast reconstruction.
North America is presently the largest market globally for soft tissue repair, and is expected to continue its dominance till the end of the forecast period. Developed countries such as the United States and Canada are a part of this region, and therefore, it has a well-developed healthcare infrastructure. Along with this, a number of prominent industry players are headquartered in North America. These factors are fueling the development of the soft tissue repair market here. Further, the improvement in insurance policies and reimbursement plans are also majorly boosting the growth of the market in North America.
Boston Scientific Corporation, Baxter International Inc, Stryker Corporation, Becton Dickinson and Company (BD), Medtronic Plc, Smith & Nephew Plc, Cryolife Inc, Johnson & Johnson, Allergan, Athersys Inc, Organogenesis Inc, Bard Peripheral Vascular Inc, Zimmer Biomet Inc, Integra Lifesciences Corporation, and WL Gore and Associates are the well-known players in the soft tissue repair market.
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Question & Answer: Soft Tissue Repair Market
Question 1: What fuels the growth of the soft tissue repair market?
Answer: A rise in the aging populace presents diverse healthcare challenges. For instance, soft tissue damage-associated diseases, like soft tissue carcinoma and others, are diagnosed more frequently in the elderly. Thus, the rates of such diseases that would require soft tissue repair, are also expected to rise. The increase in soft tissue repair and restoration procedures further fuels the growth of the soft tissue repair market.
Question 2: What is impeding the soft tissue repair market’s development?
Answer: An unfavorable reimbursement scenario for both physicians and patients is impeding the market’s development.
Question 3: Which region is presently the largest market globally for soft tissue repair?
Answer: North America is presently the largest market globally for soft tissue repair, and is expected to continue its dominance till the end of the forecast period. Developed countries such as the United States and Canada are a part of this region, and therefore, it has a well-developed healthcare infrastructure.
Along with this, a number of prominent industry players are headquartered in North America. These factors are fueling the development of the soft tissue repair market here. Further, the improvement in insurance policies and reimbursement plans are also majorly boosting the growth of the market in North America.
Question 4: Which are the well-known players in the soft tissue repair market?
Answer: Boston Scientific Corporation, Baxter International Inc, Stryker Corporation, Becton Dickinson and Company (BD), Medtronic Plc, Smith & Nephew Plc, Cryolife Inc, Johnson & Johnson, Allergan, Athersys Inc, Organogenesis Inc, Bard Peripheral Vascular Inc, Zimmer Biomet Inc, Integra Lifesciences Corporation, and WL Gore and Associates are the well-known players in the soft tissue repair market.
Related Report:
Global Cartilage Repair Market
The global cartilage repair market is set to grow in the forecasting years from 2021 to 2028, generating $625.6 million by 2028, while charting a CAGR of 15.56% by revenue.
Cartilage repair is a surgical procedure encompassing the treatment of the damaged cartilage via different modalities, such as chondroplasty, juvenile allograft fragments, osteochondral allograft, and autologous chondrocyte implantation, in order to restore the normal function of the connective tissue.
The market for cartilage repair is anticipated to grow considerably in the coming years. This is attributable to a number of factors, such as the sedentary lifestyle of people & the subsequent rise in obesity rate, growth in the elderly population, and a surge in the prevalence of arthritis all over the world.
However, the high costs of cartilage repair procedures and an unclear regulatory scenario are the key factors that are impeding the growth of this market. On the contrary, emerging markets like India and China are expected to provide lucrative development opportunities to companies in this market over the forecast period.
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