Soft Tissue Anchors Market is expected to reach US$ 912.27 Million by 2028

Absorbable Segment to Hold Largest Share of Soft Tissue Anchors Market During 2022–2028

According to our latest study on “Soft Tissue Anchors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Tying Type, Material, and End User,” the market is expected to grow from US$ 677.68 million in 2022 to US$ 912.27 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2022 to 2028. The report highlights the major factors driving the market and prominent players with their developments.  

The North America soft tissue anchors market is segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2022. Further, the rising prevalence of sports injuries, the growing prevalence of chronic diseases, and the increasing number of orthopedic ailments and procedures, especially among the aging population, propels the growth of the soft tissue anchors market.

Increasing Sports Injuries and Orthopedic 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.

Impact of COVID-19 Pandemic on Soft Tissue Anchors Market:

The COVID-19 pandemic has significantly affected the global healthcare system and has disrupted the global economies. To combat the spread of SAR-CoV-2, governments have imposed stringent policies to prevent and reduce the mortality rate. To reduce the risk of virus transmission to patients or healthcare workers within their practice, healthcare providers postponed elective surgeries and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits. Due to the pandemic, manufacturers have closed their production units as per government regulation which has increased the supply-demand gap and disruption in the supply chain. Moreover, the reduction in elective orthopedic surgeries among the geriatric and obese population prone to various orthopedic disorders such as osteoporosis, joint disorders, and ligament & tendon injuries has further affected the demand for soft tissue anchors. Moreover, postponement or cancellation of various sports events led to the reduction in sports activities which has further reduced sports injuries. Furthermore, the government-imposed lockdown compelled people to stay indoors and home quarantine as a preventive measure, which has reduced the accidents & trauma cases, further affecting the growth of the soft tissue anchors market. The launch of the COVID-19 vaccine is expected to create opportunities for the soft tissue market and a surge in strategic collaborations among market players. Thus, the COVID-19 pandemic has adversely affected the soft tissue anchors market.

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 soft tissue anchors market.

Soft Tissue Anchors Market, by Region, 2022 (%)

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Soft Tissue Anchors Market Global Analysis and Forecast 2028

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Soft Tissue Anchors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By 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, and Other), and End User (Hospital, Clinic, Emergency Medical Service, and Other)

Based on type, the soft tissue anchors market is bifurcated into absorbable and non-absorbable. Based on tying type, the market is bifurcated into knotted and knotless. Based on material, the market is segmented into PEEK suture anchor, metallic suture anchor, bio-absorbable suture anchor, bio-composite suture anchor, and others. Based on end user, the soft tissue anchors market is segmented into hospitals, clinics, emergency medical services, and others. Based on geography, the 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 SAM).