According to a new report published by Allied Market Research, titled, “Tendon Repair Market," The tendon repair market size was valued at $1.8 billion in 2021, and tendon repair market size is estimated to reach $3.2 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
Tendon repair refers to the surgical repair of damaged or torn tendons, which are cord-like structures made of strong fibrous connective tissue that connect muscles to bones. Tendons are cable-like tissues that connect muscles to bones. Although one of their functions is to take some of the strain off the muscles, too much activity can injure them. The shoulder, elbow, knee, and ankle joints are most commonly affected by tendon injuries. Tendon repair surgeries are preferred for the treatment of tendonitis. Tendinitis occurs when a tendon becomes irritated or inflamed. This can happen through a sudden injury, but it most commonly occurs due to the impact of a minor, repetitious movement. The symptom of tendinitis is pain with any type of movement of the joint especially overhead motions. In few cases, pain is observed during sleep and early morning hours.
Tendon injury mostly occurs during hard physical work out such as rowing, heavy weight lifting, occupation activities such as window washing, wood work, some assembly line works and sports activities such as football, basketball, pedal cycling, soccer, ice or roller skating, and skateboarding. Artificial muscles and tendons for knee, ankle, and tendon reinforcement will also become increasingly popular due to a growing propensity for minimally invasive procedures, government activities to raise awareness about sports injuries, and developments in surgical methods. Surgical tendon restoration was frequently viewed as the last choice by both patients and doctors.
Tendinitis can affect people of any age, especially if they perform a repetitious movement on a regular basis. However, the vast majority of cases occur in people who are at least 40 years old. Elderly individuals have the biggest risk of suffering from chronic tendinitis due to the reduced elasticity in their tendons. Therefore, it is necessary for family caregivers to take complaints about painful tendons seriously so that the afflicted person can take restorative action right away. Therefore, the rise in geriatric populations is witnessing of the market growth. For instance, according to the Population Reference Bureau, in July 2019, the number of Americans aged 65 years, or more is projected to double from an estimated 52 million in 2018 to 95 million by 2060.
Growth of the tendon repair industry is majorly driven by rise in geriatric population, surge in number of patients suffering from tendonitis, rise in physical exercise among children and adults, increase in interest of professional sports, and surge in number of athletes that are prone to tendon injury. Furthermore, the increase in number of road injuries related to the sprains in the tendons is expected to drive market growth. Globally, the tendon repair market is witnessing significant growth, owing to increase in prevalence of acute tendon inflammation and obesity in different regions of the world. In addition, rise in R&D investments in drug discovery and development and rise in occupation related injury boost the tendon repair market trends.
For instance, according to National Library of Medicine, during the 10-year study period there was an incidence rate of 33.2 injuries per 100,000 person-years. Work-related injuries accounted for 24.9% of acute traumatic tendon injuries. Out of total work-related injuries, occurred in construction and extraction occupations (44.2%), food preparation and serving related occupations (14.4%), and transportation and material moving occupations (12.5%).
For instance, according to Accident and Emergency (A&E) statistics, 24.8 million sports injuries were recorded in 2019, an increase of 2% compared with 2018. According to the American Hospital Association, currently, there are around 6,146 community hospitals in the United States. Furthermore, the increasing number of road injuries related to the sprains in the tendons is expected to drive market growth.
For instance, according to the WHO 2018 fact sheet, road accidents cause around 20.0 to 50.0 million injuries annually worldwide.
Thus, above-mentioned factors are anticipated to fuel adoption of tendon repair products. Furthermore, the market is highly competitive in nature, with major players focusing on creating awareness regarding tendon repair procedures and product. Major players in the tendon repair market host exhibition and seminars to display and promote use of tendon repair for diverse medical applications.
In addition, discovery and development; launch of various products; and strategies among key players such as acquisition, collaboration, and agreement drive the tendon repair market. For instance, in June 2022, ConMed acquired the In2Bone who is a global developer, manufacturer and distributor of orthopedic medical devices. This acquisition extends product portfolio, sales channel and experienced leadership team of ConMed Corporation.
However, the sales of tendon repair product have witnessed hindrances, owing to the strict government regulations. The high cost of the tendon repair procedures is expected to impede the market growth. On the contrary, surge in healthcare investments in public as well as private sectors, increase in patient population, and unmet medical demands in developing economies in mostly countries are anticipated to open new avenues for expansion of the tendon repair market during the forecast period.
Depending on product type, the suture anchor devices segment was the highest revenue contributor in the global market in 2021, owing to increase in orthopedic injuries in geriatric population. The others segment is expected to witness highest CAGR during the forecast period owing to increase in accident cases causes tendon damaged injuries lead to high adoption of tendon repair products.
On the basis of application of tendon repair, the rotator cuff tendon repair segment generated maximum revenue in 2021, owing to increase in sports injuries, and increase in repetitive stress of shoulder in occupation of carpenters and painters. The foot and ankle tendon repair segment is expected to witness highest CAGR during the forecast period, owing to rise in physical exercise among children and adults, increase in interest of professional sports, and increase in number of athletes that are prone to foot and ankle tendon repair.
On the basis of end user, the hospitals and clinics segment were the highest revenue contributor to the market in 2021, owing to factors such as well-equipped operation theatre, higher buying power and rise in patient admission. The ambulatory surgery centers segment is expected to witness highest CAGR during the tendon repair market forecast period, owing to surge in number tendon repair surgeries and increase in availability of technically skilled nurses for private practices
On the basis of region, North America generated higher revenue in 2021, owing to strong presence of key players, and availability of approved therapeutics with higher adoption of tendon repair products. Asia-Pacific is expected to witness highest CAGR during the forecast period owing to rise in geriatric population and launch of various products in the region to fulfill the growing demands.
KEY FINDINGS OF THE STUDY
• By product type, the suture anchor devices segment held the largest tendon repair market share in 2021.
• By application, the rotator cuff tendon repair segment held the largest share in the tendon repair market analysis in 2021.
• By end user, the hospitals and clinics segment held the largest market share in 2021.
• By region, North America held the largest market share in tendon repair industry in 2021.