Artificial Tendons and Ligaments Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Artificial Tendons and Ligaments Market Analysis
The artificial tendons and ligaments market was anticipated to grow with a CAGR of 12.0%, during the forecast period.
COVID-19 had a significant impact on the growth of the market. The pandemic outbreak increased the demand for artificial tendons and ligaments as the COVID infection lead to muscle damage. According to the article published in February 2022 by the Frontiers in Nutrition, skeletal muscle in SARS-CoV-2 infected patients might be more susceptible to muscle damage. Thus COVID-19 drove the growth of the market during the pandemic period. The volume of surgeries significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries. According to the article published in the National Institute of Health in October 2021, there was a 42.8% decline in surgery admission across the globe. Thus the market has been significantly impacted by COVID-19. However, over the previous two years, the market recovery has been led by increased surgeries, new product launches, and increased orthopedic surgeries.
The major factors attributing to the growth of the artificial tendons and ligaments market are the increasing incidence of sports injuries along with a rise in patient preference for minimally invasive surgeries. According to an article published by the Global Burden of Disease in August 2021 reported that globally, there were 178 million new fractures, 455 million prevalent cases of acute or long-term symptoms of a fracture, and 25.8 million years lived with disability (YLDs). Also, according to the WHO's update of July 2022, approximately 1.71 billion people have musculoskeletal conditions worldwide. Such a high burden of musculoskeletal conditions results in increased musculoskeletal injuries, which in turn drives the growth of the market for orthopedic biomaterials.
Furthermore, the advancements in the field are also propelling the growth of the market. For instance, in September 2021 Stryker introduced the Citrelock Tendon Fixation Device system, which is designed to enable fixation without causing damage to the tendon during placement.
The other factors that play a pivotal role in market growth such as an increase in awareness programs about artificial tendons and ligaments and research activities on the market are expected to contribute to the growth of the market. However, high prices of procedures and unfavorable reimbursement policies would restrain the growth of the market in emerging economies in the forecast period. Also, a lack of awareness among patients and the unwillingness of healthcare providers to make utilization of artificial tendons and ligaments can impede the growth of the market.
Artificial Tendons and Ligaments Market Trends
Knee Injuries Segment is Expected to Hold the Largest Market Share in the Artificial Tendons and Ligaments Market
The knee injuries segment is expected to hold the highest market share this is mainly due to factors such as rising participation in sports which leads to increased incidence of knee injuries, and patient discomfort at the target site due to conventional surgical treatment methods that use allografts, etc. For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries which are performed each year.
For instance, as per the report published by the Canadian Institute for Health Information in June 2021, nearly 140,000 people get a hip or knee replacement each year in Canadian hospitals and wait times can run to more than a year. It also reported that the healthcare expenditure on knee replacement surgery counts up to more than USD 1.4 billion annually in Canada. The National Safety Council (NSC) reported that in 2021, injuries caused by exercise equipment accounted for nearly 409,000 of all sports and recreation-related injuries. In addition, bicycles and accessories accounted for 375,797 injuries in the year 2021 in the United States. Thus, a significant number of sports-related injuries may include knee injury leading to rising demand for its treatment, thereby fueling the growth of the studied market.
Artificial ligaments for knee injuries offer unique advantages over allografts and autografts such as reduced procedural time, faster recovery, and higher availability than donor tendon grafts. Therefore, such factors are expected to contribute to the growth of the studied segment during the forecast period.
North America Dominates the Market and is Expected to do Same in the Forecast Period.
North America is expected to dominate the overall artificial tendons and ligaments market, throughout the forecast period. The dominance is due to several factors such as growing sports injuries coupled with the increasing geriatric population in this region.
According to data from the National Safety Council (NSC) updated in 2022, about 115,790 swimming injuries were treated in emergency rooms in 2021, with children under 14 years suffering half of all injuries. In addition, in 2021, 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment, and the activities frequently associated with injuries are exercise, cycling, and basketball. In addition, according to CDC data updated in March 2022, the number of emergency department visits was 130 million and several injury-related visits 35 million in the United States in 2021. This number of emergency visits coupled with an increased number of injuries is expected to lead to increased demand for artificial tendons and ligaments, thereby contributing to the growth of the market.
Additionally, the Senior Report 2021 published by America's Health Rankings United Health Foundation shows that more than 54 million adults aged 65 and older lived in the United States in 2021, which accounted for about 16.5% of the country's population.
Thus the above-mentioned factors are expected to drive the growth of the market in this region during the forecast period.
Artificial Tendons and Ligaments Industry Overview
The artificial tendons and ligaments market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Neoligaments, Orthomed S.A.S, Corin Group, Shanghai PINE & POWER Biotech, and Arthrex Inc.
Artificial Tendons and Ligaments Market Leaders
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Neoligaments
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Orthomed S.A.S
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Corin Group
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Arthrex Inc.
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Cousin Biotech
*Disclaimer: Major Players sorted in no particular order
Artificial Tendons and Ligaments Market News
- In July 2022, CoNextions Inc announced that CoNextions TR Tendon Repair System has received FDA Clearance. The CoNextions TR device is another example of CoNextions' commitment to providing innovative and advanced solutions for soft-tissue repair leading to improved patient outcomes and surgeon experience.
- In June 2022, Medtronic received the United States Food and Drug Administration 510 (k) clearance and breakthrough device designation for its novel LigaPASS 2.0 ligament augmentation system.
Artificial Tendons and Ligaments Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increased Global Incidence of Sports Injuries
- 4.2.2 Increased Preference for Minimally Invasive Surgical Procedures
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4.3 Market Restraints
- 4.3.1 High Prices of Procedures and Unfavorable Reimbursement Policies Across Major Markets
- 4.3.2 Unwillingness of Healthcare Providers to Use Artificial Tendons and Ligaments
-
4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
-
5.1 By Application
- 5.1.1 Knee Injuries
- 5.1.2 Foot and Ankle Injuries
- 5.1.3 Shoulder Injuries
- 5.1.4 Others
-
5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Neoligaments
- 6.1.2 Orthomed S.A.S.
- 6.1.3 Corin Group
- 6.1.4 Arthrex Inc.
- 6.1.5 Mathys AG Bettlach
- 6.1.6 FH Orthopedics
- 6.1.7 Cousin Biotech
- 6.1.8 FX Solutions
- 6.1.9 Stryker Corporation
- 6.1.10 LARS
- 6.1.11 Shanghai Pine and Power Biotech
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Artificial Tendons and Ligaments Industry Segmentation
As per the scope of the report, ligaments, and tendons belong to the category of dense granular connective tissues, essential for the proper functioning of the musculoskeletal system. An artificial ligament is a supporting material made of polymers such as polypropylene used to replace a torn ligament temporarily while a new tendon sheath develops. The Artificial Tendons and Ligaments Market are Segmented by Application (Knee Injuries, Foot and Ankle Injuries, Shoulder Injuries, and Others) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Application | Knee Injuries | |
| Foot and Ankle Injuries | ||
| Shoulder Injuries | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Artificial Tendons and Ligaments Market Research FAQs
What is the current Global Artificial Tendons and Ligaments Market size?
The Global Artificial Tendons and Ligaments Market is projected to register a CAGR of 12% during the forecast period (2024-2029)
Who are the key players in Global Artificial Tendons and Ligaments Market?
Neoligaments, Orthomed S.A.S, Corin Group, Arthrex Inc. and Cousin Biotech are the major companies operating in the Global Artificial Tendons and Ligaments Market.
Which is the fastest growing region in Global Artificial Tendons and Ligaments Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Artificial Tendons and Ligaments Market?
In 2024, the North America accounts for the largest market share in Global Artificial Tendons and Ligaments Market.
What years does this Global Artificial Tendons and Ligaments Market cover?
The report covers the Global Artificial Tendons and Ligaments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Artificial Tendons and Ligaments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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