In a recent published report, Kenneth Research has updated the market report for Orthopedic Soft Tissue Repair and Sports Medicine Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Orthopedic Soft Tissue Repair and Sports Medicine Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Orthopedic Soft Tissue Repair and Sports Medicine Market is estimated to reach $13 Billion by 2024; growing at a CAGR of 7.9% from 2016 to 2024. Soft tissue injuries occur through direct or indirect trauma to ligaments, muscles, joint capsules, or others. This leads to increased pain, inflammation, and altered internal tissue stress. Soft tissues can be healed or repaired by fixing rotator cuff, shoulder labrum, ACL/PCL, meniscal repair, graft options for tendons and cartilage along with devices for hip arthroscopy. These devices are basically used for closed technique treatments of injured or worn joints. These treatments are majorly performed on knee and shoulder joints while interest among surgical community in hip and small joint arthroscopy is also growing.
The global orthopedic soft tissue repair and sports medicine market is boosting significantly, driven by factors such as, increasing occurrence of tissue injuries among aging population, growing obese population, lack of alternatives for soft tissue repair surgeries, and need for innovative medical technologies. Though, factors such as high cost of surgical procedures and lack of awareness may hamper the growth of the market. Additionally, technological advancements and increasing awareness and promotion of advanced platelet rich plasma devices would provide future scope in the coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The global orthopedic soft tissue repair and sports medicine market is bifurcated on the basis of injury location, surgical procedure, and geography. The market is segmented by injury location as hip, knee, shoulder, and others. The orthopedic soft tissue repair market by surgical procedure is segmented as shoulder labarum, ACL/PCL, meniscal repair, biceps tenodesis, hip arthroscopy, rotator cuff, and others.
Based on geography, global orthopedic soft tissue repair and sports medicine market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, and others. Asia-Pacific is segmented into India, China, Japan, and others while RoW is bifurcated into South America, Middle East, and Africa.
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The key market players include DePuy Synthes, AlloSource, Stryker Corporation, Conmed Corporation, ArthroCare Corporation, Arthrex Inc., Zimmer Biomet Holdings, Inc., Smith and Nephew plc, LifeNet Health Inc., and Acera Surgical Inc., among others.
The key takeaways from the report:
The report will provide detailed analysis of Orthopedic Soft Tissue Repair and Sports Medicine Market with respect to major segments such as injury location, and surgical procedure. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Orthopedic Soft Tissue Repair and Sports Medicine Market has been included in the report. Profile of the key players in the Orthopedic Soft Tissue Repair and Sports Medicine Market will be provided, which include key financials, product & services, new developments and business strategies
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Scope of Orthopedic Soft Tissue Repair and Sports Medicine Market:
Injury Location Segments
Hip
Knee
Shoulder
Other Injury Locations
Surgical Procedure Segments
Shoulder Labarum
ACL/PCL
Meniscal Repair
Biceps Tenodesis
Hip Arthroscopy
Rotator Cuff
Other Surgical Procedures
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Others
Asia Pacific
India
China
Japan
Others
RoW
South America
Middle East
Africa
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