Knotless suture anchors assist the procedure to be less invasive involving a shorter recovery time. Arthroscopy is the treatment of joint damage by practicing the minimally invasive procedure. One of the major challenges of this method is to tie consistent and good-quality arthroscopic knots and the time-consuming procedure. So, knotless suture anchors were introduced to make the arthroscopic bankart repair simpler. This tail end consists of the short loop of the suture. The knotless suture anchors have contributed towards providing versatility and reducing the time spent to perform the procedure. The knotless suture anchors market is anticipated to mark a growth in demand in the coming years due to the shift of demand towards high-quality joint procedures.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
There has been an increase in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and civil population for precautionary measures, owing to the rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the knotless suture anchors market.
Top Impacting Factors
- Rise in cases of trauma injuries on shoulder and joints, surge in geriatric populations, increase in demand for minimally invasive & advanced procedures, the evolution of e-commerce platform, a rising rate of approval and commercialization of medical devices like anchor sutures, improving supply chain activities, are factors that drive the growth of the knotless suture anchors market.
- In addition, increase in healthcare expenditure; availability of skilled professionals; collaborations & partnerships between key players to facilitate the launch of novel developed products in the market; rise in R&D activities to improve quality of devices, and technological advancements are some factors, which boost the market growth for knotless suture anchors.
- However, tissue reactions after arthroscopic procedures lead to complications and opposition towards product choice, poor healthcare infrastructure, unavailability of superior technology, and lack of awareness about knotless suture anchors amongst the healthcare professional, which hinder the knotless suture anchors market growth.
- Contrarily, favorable reimbursement policies and support from the government for regulatory approval present new pathways in the industry.
Knotless Suture Anchors Market Trends
New product launches to flourish the market
Key players are concentrating on launching innovative products to expand their product portfolio for market enlargement.
In February 2021, In2Bones Global Inc. launched “Hercules Suture Anchor System". Hercules Suture Anchor System has a unique knotless suture anchor and is comprised of radiolucent PEEK material.
In September 2020, Smith & Nephew announced the launch of “Healicoil Knotless Suture Anchor”. This product is composed of regenesorb a bio-composite material that leads to the absorption of the implant in 24 hours.
Key Benefits of the Report
- This study presents the analytical depiction of the knotless suture anchors industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the knotless suture anchors market share.
- The current market is quantitatively analyzed to highlight the knotless suture anchors market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the knotless suture anchors market.
- The report provides a detailed knotless suture anchors market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the knotless suture anchors Report
- Which are the leading players active in the knotless suture anchors market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "Knotless suture anchors"?
- What is "Knotless suture anchors" Market prediction in the future?
- Who are the leading global players in the "Knotless suture anchors" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Knotless suture anchors" Market report?
Knotless Suture Anchors Market Report Highlights
By Physical Form
By Suture Anchor Type
By End User
Key Market Players
Parcus Medical LLC, Medtronic Plc., In2Bones Global Inc., Zimmer Biomet Holdings Inc., Stryker Corporation, Smith and Nephew Plc., ArthrexInc., Wright Medical Group N.V., Johnson and Johnson, ConMed Corporation