The global soft tissue repair market is expected to reach $14.7 billion in 2019 from $10.3 billion in 2014, at a CAGR of 7.5% during the forecast period of 2014 to 2019. Market growth will be attributed to innovative new product launches, the rising demand for soft tissue repair treatment from the aging population, increasing healthcare expenditure, and the lack of substitutes.
Soft tissue repair products are used to repair and reconstruct soft tissue injuries. The soft tissue repair market is mainly driven by technological advancements, innovative product offerings,increasing incidence of soft tissue injuries among the aging population, increasing participation in sports, and the increasing obesity rate. However, the ambiguity in reimbursement for these products and the increasing cost of surgical procedures are expected to restrain the growth of this market in the forecast period. The market in this report is broadly segmented on the basis of products and applications. The market, by products, is segmented into tissue patches/meshes, soft tissue fixation devices, and laparoscopic instruments. On the basis of application, soft tissue repair market is segmented into hernia repair, dural repair, vaginal sling procedures, skin repair, orthopedic soft tissue repair, dental soft tissue repair, and breast reconstruction repair.
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Soft tissue repair market procedures are increasingly being conducted to repair orthopedic soft tissue tears, herniation, and breast reconstruction; this is driving market growth. In addition to this, heavy investments by key manufacturers to offer advanced and innovative products for better results are also propelling market growth. Developed regions like North America and Europe will show sluggish growth, while emerging markets like Asia-Pacific and RoW (Latin America) are expected to record strong growth. Growth will be centered on countries like India, China, and Brazil owing to rising investments by public and private players in these countries, the presence of a large patient population, and the focus of leading players to capture growth opportunities in these markets.
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Various strategies such as collaborations, expansions, and new product launches have helped these companies to maintain their market share and grow in this competitive market.
Some prominent players in Soft tissue repair market include LifeCell Corporation (U.S.), Organogenesis (U.S.), C.R. Bard, Inc. (U.S.), Johnson & Johnson (U.S.), Covidien plc (Ireland), Arthrex, Inc. (U.S.), Smith & Nephew plc (U.K.), Integra Lifesciences Corporation (U.S.), Wright Medical Technology (U.S.), and Stryker Corporation (U.S.).
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