Artificial Tendons and Ligaments Market

Artificial Tendons And Ligaments Market Research, 2031

The global Artificial Tendons And Ligaments Market Size was valued at $64.3 million in 2021 and is projected to reach $165.7 million by 2031, growing at a CAGR of 10.1% from 2022 to 2031. Artificial tendons and ligaments are biological implants that are used for the reconstruction of ruptured tendons and ligaments. Tendons are cable-like tissues that connect muscles to bones. Ligament tissue helps to keep the bones in a proper position at the joints and also helps in the movement of bones. Ligaments are typically used to link two bones, especially in the joints. They support the joint or hold the ends of two bones together like strong, firmly fastened straps or ropes. This prevents the bones of the joint from twiddling or moving too far apart and becoming dislocated. There are some joints that are mostly supported by tendons and ligaments, including shoulder, elbow, knee, spine, hip, and ankle joints. Artificial tendons and ligaments are biological implants that are used for the reconstruction of ruptured tendons and ligaments. Tendons are cable-like tissues that connect muscles to bones. Ligament tissue helps to keep the bones in a proper position at the joints and also helps in the movement of bones. Ligaments are typically used to link two bones, especially in the joints. They support the joint or hold the ends of two bones together like strong, firmly fastened straps or ropes. This prevents the bones of the joint from twiddling or moving too far apart and becoming dislocated. There are some joints that are mostly supported by tendons and ligaments, including shoulder, elbow, knee, spine, hip, and ankle joints.

This COVID-19 pandemic negatively affected the orthopedics field because doctors were unable to adequately concentrate on their regular patients. According to several research studies, the pandemic led to a double-digit decline in the number of orthopedic procedures in 2020. However, replacement of damaged tendon and ligament procedures rebounded in 2021 with high growth.

Artificial tendons and ligaments are widely used for replacing ruptured or damaged tendons and ligaments in arthritis, sports injuries, and severe tendonitis. The artificial tendons and ligaments market has witnessed growth, owing to an upsurge in the incidence of accidents and rise in the prevalence of osteoporosis cases and tendonitis.

According to the International Osteoporosis Foundation, approximately 8.9 million fractures were reported in 2020. Moreover, as per the World Health Organization, in 2020, osteoporosis affected 6.3% of men and 21.2% of women aged above 50. Hence, the growing burden of osteoporosis cases has increased the use of implant devices, thus boosting the growth of the artificial tendons and ligaments market.

According to the International Osteoporosis Federation, due to the higher availability of dual-energy X-ray absorptiometry instruments for the diagnosis of osteoporosis and the resulting increased detection of osteoporosis, there will be a surge in the usage of artificial tendons and ligaments. Furthermore, an increase in the number of product or procedure approvals is expected to provide remunerative opportunities for the expansion of the global Artificial Tendons And Ligaments Market Share during the Artificial Tendons And Ligaments Market Forecast period.

In addition, an increase in incidences of sports-related injuries and accidents propels the demand for artificial tendons and ligaments. For instance, according to the National Safety Council (NSC), in 2020, it was observed that bicycling accounted for about 426,000 injuries in the U.S., the most of any category of sports and recreation. Hence, an increase in incidents of sports injuries affecting joints where replacement surgery is suggested contributes to the Artificial Tendons And Ligaments Market Growth. In addition, according to Arthritis Statistics, the global RA network, in 2022, it is estimated that approximately 350 million people are living with arthritis globally. Also, as per the information provided by Statista, in 2020, the number of knee replacement surgeries performed in Switzerland was 260 per 100,000 inhabitants. Thus, the globally increasing prevalence of severe osteoarthritis or rheumatoid arthritis and the rising number of knee replacement surgeries drive the growth of the artificial tendons and ligament market.

The sales of artificial tendons and ligaments have witnessed hindrances, owing to a lack of skilled professionals in emerging and less developed countries and stricter regulatory standards. In addition, the high cost of artificial tendons and ligaments is the key factor restraining the market. Due to these factors, the sales of premium artificial tendons and ligaments are low. Conversely, the introduction of new artificial tendons and ligaments in developing nations is anticipated to offer remunerative opportunities for the expansion of the global market during the forecast period.

Furthermore, the healthcare business in developing nations is predicted to grow significantly as a result of various reasons, including increased investment in both the public and private sectors, a rise in tendon and ligament-related diseases, and population expansion. An increase in healthcare spending is also expected to promote the expansion of the healthcare business, which, in turn, is expected to fuel product demand.

The artificial tendons and ligaments market is segmented on the basis of application, end user, and region. On the basis of application, the market is classified into knee injuries, shoulder injuries, foot & ankle injuries, and others. Depending on the end user, it is segmented into hospitals & clinics, and ambulatory surgery centers.

The artificial tendons market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).

Segment Review

By Application

On the basis of the application of artificial tendons and ligaments, the knee injuries segment generated maximum revenue in 2021, and is expected to witness the highest CAGR during the forecast period, owing to a rise in physical exercise among children and adults, an increase in interest of professional sports, and increase in a number of athletes that are prone to knee injuries.

By End User

On the basis of end users, the hospitals & clinics segment was the highest revenue contributor to the market in 2021, owing to an increase in the number of patient admissions, well-resourced diagnostic rooms, and higher buying power.

By Region

On the basis of region, North America dominated the Artificial Tendons And Ligaments Market Size in 2021, owing to a rise in the number of tendon and ligaments injury cases, the presence of key players, robust healthcare infrastructure, and the availability of approved therapeutics with higher adoption of artificial tendon and ligament products.

Some of the major companies that operate in the global Artificial Tendons And Ligaments Market Share are Artelon, Arthrex, Inc., Corin Group, Enovis, Exactech, Inc., FX-Global, Inc., Group FH Communication, Integra Lifesciences, Neoligaments, and Stryker Corporation.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the artificial tendons and ligaments market analysis from 2021 to 2031 to identify the prevailing artificial tendons and ligaments market opportunity.
• Artificial Tendons And Ligaments Industry research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• An in-depth analysis of the Artificial Ligaments Market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the Artificial Tendons And Ligaments Industry players.
• The report includes an analysis of the regional as well as global artificial tendons and ligaments market trends, key players, market segments, application areas, and market growth strategies.

 Artificial Tendons and Ligaments Market Report Highlights