Soft Tissue Anchors Market Global Analysis and Forecast 2028

The soft tissue anchors market is expected to grow from US$ 677.68 million in 2022 to US$ 912.27 million by 2028; it is expected to register a CAGR of 5.1% from 2022 to 2028.

Soft tissue anchors are soft tissue fixation devices generally used in orthopedic surgeries. Orthopedic bone fractures and injuries can be caused due to various reasons such as acute trauma, sports, and heavy physical activities. Sutures, anchors, and interference screws are various fixation devices used for soft tissue fixation. Dislocation of the shoulder is common among athletes, and the arthroscopic bankart repair method using soft tissue anchors is the most preferred method for treating shoulder dislocation. The increase in sports injuries, orthopedic surgeries, and the significant increase in the geriatric and obese population are the key factors that are driving the growth of the soft tissue anchors market. However, the high cost of surgeries and unfavorable reimbursement scenarios are hampering the market growth.

The report offers insights and in-depth analysis of the soft tissue anchors market, emphasizing various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of global leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. Many health authorities focused on the COVID-19-pandemic-related care. They avoided human contact due to growing transmission and strain on healthcare resources by postponing elective surgeries, suspending outpatient clinics, and triaging employees involved in urgent care. Furthermore, many countries imposed restrictions on nonclinical staff's access to the facility and guests. Orthopedic surgeons have experienced major effects on their ability to offer timely and high-quality surgical care, training, and research due to these changes. Recent COVID-19 guidelines for pediatric orthopedic surgeons suggested focusing on urgent care and triaging cases to postpone elective surgeries and clinic appointments, transitioning to virtual-based care when appropriate.

 

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Soft Tissue Anchors Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Many companies manufacturing soft tissue anchors focus on responding to emergencies by various strategies such as manufacturing PPEs for healthcare workers and distribution of pharmaceutical drugs. For instance, in September 2020, Arthrex, a global leader in minimally invasive orthopedic technology, announced it is using its innovative capabilities to manufacture and donate over 6,000 protective face shields to school systems across the region. Similarly, the company collaborated with medical professionals, local emergency services, and health care administrators to assess the biggest needs of the essential workers treating and interacting with patients infected with SARS-CoV-2. The most significant project involves manufacturing protective face shields and hoods. Thus, the COVID-19 pandemic hampered the soft tissue anchors market.

The soft tissue anchors market is segmented into type, tying type, material, end user, and geography. By region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Market Insights

Increasing Sports Injuries and Orthopaedic 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.

Type-Based Insights

Based on type, the soft tissue anchors market is bifurcated into absorbable and non-absorbable. In 2022, the absorbable segment accounted for a larger share of the market; it is expected to continue its dominance over the forecast period. The absorbable soft tissue anchors are widely used as they get absorbed in the body and reduce medical complications. Moreover, the absorbable segment is expected to register the highest CAGR in the soft tissue anchors market from 2022 to 2028.

• Based on typing type, the soft tissue anchors market is bifurcated into knotted and knotless. The knotless segment held a larger market share in 2021, and it is anticipated to register the highest CAGR during the forecast period.
• Based on material, the soft tissue anchors market is segmented into metallic suture anchor, bio-absorbable suture anchor, PEEK suture anchor, bio-composite suture anchor, and others. The PEEK suture anchor segment held the largest share of the market in 2022; however, the bio-composite suture anchor segment is anticipated to register the highest CAGR of 5.7% in the market during the forecast period.
• Based on application, the soft tissue anchors market is segmented into health management, financial health management, home health management, and others. The health management segment held the largest market share in 2022, and it is anticipated to register the highest CAGR in the market during the forecast period.
• Based on end user, the soft tissue anchors market is segmented into hospitals, clinics, emergency medical services, and others. The hospitals segment held the largest market share in 2022; however, the emergency medical services segment is estimated to register the highest CAGR of 5.7% in the market during the forecast period.

The soft tissue anchors market players adopt organic strategies such as product launch and expansion to expand their global footprint and product portfolio and meet the growing demand. In May 2022, Conmed acquired privately-held In2Bones Global, Inc. (In2Bones), on a cash-free, debt-free basis, for cash consideration of US$145 million at closing and up to an additional US$110 million in growth-based earn-out payments over four years.

Geography-Based Insights

By geography, the soft tissue anchors 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 South & Central America).

Soft Tissue Anchors Market Regional Insights

The regional trends and factors influencing the Soft Tissue Anchors Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Soft Tissue Anchors Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Soft Tissue Anchors Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Soft Tissue Anchors Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Soft Tissue Anchors Market are:

1. Smith & Nephew Plc.
2. CONMED Corporation
3. Johnson & Johnson Services, Inc. (DePuy Synthes)
4. Zimmer Biomet
5. Arthrex, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

 

Company-Based Insights

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.; and DJO, LLC (Colfax Corporation) are among the leading companies operating in the soft tissue anchors market.