Artificial Tendons And Ligaments Market Size Set For Rapid Growth, To Reach Around USD 120.34 Million By 2032
According to the report, the global artificial tendons and ligaments market was valued at approximately USD 37.18 million in 2023 and is expected to generate revenue of around USD 120.34 million by the end of 2032, growing at a CAGR of around 13.94% between 2024 and 2032.
Zion Market Research has published a new report titled “Artificial Tendons and Ligaments Market by Application (Shoulder Injuries, Knee Injuries, Foot and Ankle Injuries, and Other Applications) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024–2032”.
Tendon and ligament injuries and/or associated disorders are a common problem and one of the leading causes of improper functioning of joints affecting athletes, actively working people, and the geriatric population globally. Damaged tendons and ligaments or loss of tendons pose a major surgical reconstructive problem. It influences the quality of life of a patient, with movement and local structure integrity being adversely compromised. Ligaments and tendons both are essential parts of the musculoskeletal system. They are crucial elements for the proper functioning of the muscular and skeletal system as they serve as a major function for the joints and bones.
The global artificial tendons and ligaments market is mainly impacted due to rising incidences of sports injuries and escalated awareness about artificial tendons and ligaments. However, the unwillingness to make utilization of artificial tendons and ligaments by healthcare providers and high-cost procedures may hinder the market expansion over the forecast timeline. Whereas, market expansion and product penetration in developing economies, consistent technological breakthroughs, and extensive R&D activities are anticipated to create lucrative growth opportunities for the artificial tendons and ligaments market in the coming years.
The artificial tendons and ligaments market is classified on the basis of application and region. On the basis of application, the market is segmented into shoulder injuries, knee injuries, foot and ankle injuries, and other injuries. The knee injuries segment accounted for the largest share of the global artificial tendons and ligaments market. The increasing rate of knee injuries, rising contribution in sports, discomfort due to conventional surgical treatment methods, and advantages of artificial tendons and ligaments over conventional surgical methods are the major factors driving the growth of the knee injury segment.
Key regional segments of the market are Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Due to the huge investment in research and development, countries including, the UK, the U.S., and China are likely to grow strongly in the coming years. North America is estimated to dominate the global artificial tendons and ligaments market in the near future. A growing number of sports injuries and an increasing geriatric population coupled with a huge investment in the research and development activities in the region are the major factors responsible for the market growth in North America. On the other hand, Europe is also considered as the major market for artificial tendons and ligaments market. A growing number of government initiatives to boost sports, increasing cases of sports-related injuries, increasing number of conferences, symposia, meetings, and workshops in the U.K., and a rising number of knee replacements are the major factors responsible for market growth in this region.
Asia Pacific region is projected to grow at the highest rate in the international artificial tendons and ligaments market due to the emerging healthcare industry in Japan, growing research and development activities, collaborations with several international sports organizations, government initiatives, favorable tax policies in China, government initiatives to support sports medicine, encouraging healthcare system in India, focus of LARS in Australia, and focus on sports medicine in Malaysia and Singapore. Latin America is another important regional market and is estimated to grow moderately in the future due to the developing healthcare infrastructure and rising awareness among people of dental diseases. The Middle East and Africa region are anticipated to witness significant growth during the forecast period.
Some of the key players in the artificial tendons and ligaments market are-
- LARS
- Neoligaments
- Cousin Biotech
- FX Solutions
- Shanghai PINE&POWER Biotech
- Orthomed S.A.S.
- and Mathys AG Bettlach
- Arthrex
- among others.
This report segments the global artificial tendons and ligaments market as follows:
Global Artificial Tendons and Ligaments Market: by Application
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Other Injuries
Global Artificial Tendons and Ligaments Market: by Region
- North AmericaThe U.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- The Middle East and Africa
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