U. S. Tendon Repair Market Size, Share & Trends Analysis Report By Product Type (Implants, Suture Anchor Devices), By Application (Bicep Tenodesis, Rotator Cuff Repair), And Segment Forecasts, 2022 - 2030.
New York, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "U.S. Tendon Repair Market Size, Share & Trends Analysis Report By Product Type, By Application And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06315289/?utm_source=GNW
U.S. Tendon Repair Market Growth & Trends
The U.S. tendon repair market size is expected to reach USD 1.47 billion by 2030 and is expected to expand at a CAGR of 7.0% during the forecast period. The rapid rate at which the geriatric population across the country is rising for the past few years has been a major contributor to the market, in terms of patient numbers.
Furthermore, the yearly rise in sports-related injuries across all age groups also contributes to the growing target population for the tendon repair market in the U.S. The geriatric population in the US has crossed 50 million, and the number is set to increase in the coming years. Age-related degeneration of soft tissue makes them more susceptible to injuries and tears of soft tissue.
Sports-related injuries are rapidly increasing as more and more people actively engage in some form of physical activity. Professional athletes and specifically older athletes are more prone to tears and sprains in tendons and other soft tissue due to the nature of the sport they engage in.
For instance, the number of people suffering some form of injury from football and soccer is significantly greater than in other sporting activities.High contact and impact are both responsible factors for tendon injuries and tears, which often require surgical intervention or rehabilitation, or both.
This is expected to bode well for the growth of the market.
The prevalence of musculoskeletal diseases in the U.S. is a big contributor to the patient pool. According to the United States Bone & Joint Initiative, 12% to 14% of the population in the U.S. is bound to visit a physician for back pain. These factors are the key drivers for the growth of the tendon repair market in the U.S.
The application segment was dominated by the rotator cuff repair category with a revenue share of 38.7% as of 2021. The major contributors are the rapidly aging population and sports-related injuries. A research article published in JSES Reviews, Reports and Techniques, stated that the number of rotator cuff repairs in the U.S. increased by 1.2% on annual basis between 2007-2016.
The bicep tenodesis application segment is expected to register the fastest growth over the forecast period.The injuries are more commonly associated with sports like baseball and tennis, among others.
Age-related degeneration of soft tissue along with the above-stated factors is expected to propel the growth of the tendon repair market across the U.S.
Based on product type, the suture anchor devices segment was the largest category with the highest revenue share of 40.4% in 2021. These are commonly used in tendon repair surgeries for fixing bone to the tendon, in case of severe damage. These provide strength and stability to the repaired area; the types of sutures and anchors have been different as per advancing technologies.
The fastest growth was registered by the matrix and scaffolds type of products.The product category has been the rage, off-late due to the multifarious benefits over traditional repair methods.
Mechanical fixation comes with its own set of complications, matrices and scaffolds are circumventing those and are resulting in better repair results and ease in second surgeries, if at all required and these factors are key drivers for the growth of the U.S. market.
The marked reduction in social interactions during the pandemic resulted in a severe fall in the number of patient visits for sports-related injuries, also there was a decrease in the number of elective procedures for the elderly, due to the overburdened state of the healthcare system. The market for U.S. tendon repair is expected to grow manifold, once social interaction resumes to its full capacity.
U.S. Tendon Repair Market Report Highlights
• The U.S. market is expected to cross the USD 1 billion mark in terms of revenue by 2030
• The largest growing application for tendon repair was rotator cuff repair with a revenue share of 38.7% in 2021
• The biggest product category was suture anchor devices, with a share of over 40.4% in 2021
Read the full report: https://www.reportlinker.com/p06315289/?utm_source=GNW
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