U.S., Europe and Japan Orthopedic Soft Tissue Surgical Procedures Market Expected to Reach USD 10.2 Billion in 2020: Transparency Market Research
ALBANY, New York, August 27, 2015 /PRNewswire/ --
According to a new market report published by Transparency Market Research "U.S., Europe and Japan Orthopedic Soft Tissue Surgical Procedures Market (Rotator Cuff Repair, Vaginal Prolapse, Lateral Epicondylitis, Achilles Tendinosis Repair, Gluteal Tendon/Trochanteric Bursitis Repair and Anterior Cruciate Ligament (ACL) Reconstruction): Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" the U.S., Europe and Japan orthopedic soft tissue surgical procedures market was valued at USD 7.3 billion in 2013 and is estimated to reach a market worth of USD 10.2 billion in 2020 growing at a CAGR of 4.9% from 2014 to 2020.
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The report on U.S., Europe and Japan orthopedic soft tissue surgical procedures market studies market size of rotator cuff repair, vaginal prolapse, lateral epicondylitis, achilles tendinosis repair, gluteal tendon repair and anterior cruciate ligament reconstruction (ACL). Rising number of sport related injuries coupled with growth of active aging population in the developed regions would boost the demand of orthopedic soft tissue surgeries. According to the American Academy of Orthopaedic Surgeons (AAOS) and the American Orthopaedic Society for Sports Medicine, over 150,000 anterior cruciate ligament (ACL) injuries occur each year in the U.S. alone. Additionally, introduction of high cost and innovative surgical repair products and increasing incidence of obesity have raised the demand of orthopedic surgeries thereby propelling market growth. For example, Biomet, Inc. launched JuggerKnotless Soft Anchor device in July 2014 which featured company's all-suture anchor technology. This device enables the repair of rotator cuff damage with better restoration and high efficacy. Growing acceptance of minimally invasive soft tissue surgical techniques (arthroscopy procedures) has enabled the completion of soft tissue surgeries in shorter time with lesser complication rates. This factor is also increasing the uptake of soft tissue surgeries. However, asymptomatic nature of soft tissue surgeries and high threat from conservative therapy are anticipated to restrain the market growth.
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In terms of various surgical procedures ACL reconstruction accounted for the largest share of the market in 2013. ACL reconstruction is also likely to retain its dominant position in the future as it is the most common knee injury that requires surgical intervention. Rising participation in sports such as football, basketball and others along with increasing number of patients opting for reconstructive surgeries due to introduction of minimally invasive surgeries would fuel the growth of this segment. Similarly, launch of bio-absorbable which nullifies the risk related to implant removal would also aid in increasing the market size for ACL reconstruction. The market of gluteal tendon repair accounted for the smallest share in 2013 owing to large pool of patients being treated by non-operative methods such as pain killers and steroid injection for this condition.
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Geographically, the U.S. orthopedic soft tissue surgical procedures market captured major market revenue in 2013 and is expected to dominate the market during the forecast period from 2014 to 2020. Rising population base, increasing urge to stay healthy among geriatric population and improving healthcare coverage would contribute towards the growth of orthopedic soft tissue surgical procedures in this region. The orthopedic soft tissue surgical procedures market in Europe is anticipated to grow at a CAGR of 4.7% due to increasing number of sports related injuries. According to "Injuries in the European Union" published by EuroSafe, sports related injuries accounted for around 14% of the total injuries in the European Union. Similarly, a survey conducted by the professionals in Europe in 2010 concluded that the annual prevalence of people consulting for shoulder pain was 2.4% in the U.K.; most of these were attributed to rotator cuff injuries. Thus, increasing incidences of soft tissue injuries would propel the market growth in this region.
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The orthopedic soft tissue surgical procedures market is fragmented in nature and is dominated by players, namely Arthrex, Inc., Smith & Nephew, plc., DePuy Synthes, Inc., Stryker Corporation., CONMED Corporation, and ArthroCare Corporation. Of all these, Arthrex was identified as the largest player in this market in 2013 followed by Smith & Nephew and Depuy Synthes, Inc.
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The U.S., Europe and Japan orthopedic soft tissue surgical procedures market is segmented as follows:
- U.S. Orthopedic Soft Tissue Surgical Procedures Market, by Indications
- Rotator Cuff Repair
- Vaginal Prolapse
- Lateral Epicondylitis
- Achilles Tendinosis Repair
- Gluteal Tendon Repair
- Anterior Cruciate Ligament (ACL) Reconstruction
- Europe Orthopedic Soft Tissue Surgical Procedures Market, by Indications
- Rotator Cuff Repair
- Vaginal Prolapse
- Lateral Epicondylitis
- Achilles Tendinosis Repair
- Gluteal Tendon Repair
- Anterior Cruciate Ligament (ACL) Reconstruction
- Japan Orthopedic Soft Tissue Surgical Procedures Market, by Indications
- Rotator Cuff Repair
- Vaginal Prolapse
- Lateral Epicondylitis
- Achilles Tendinosis Repair
- Gluteal Tendon Repair
- Anterior Cruciate Ligament (ACL) Reconstruction
Browse All Other Pharmaceutical Research Reports: http://www.transparencymarketresearch.com/pharmaceutical-market-reports-1.html
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