Albany, New York, Jan. 10, 2019 (GLOBE NEWSWIRE) -- With increasing growth opportunities, the global soft tissue repair market is expected to reach a valuation of US$ 3.40 bn by the end of 2026. The market is likely to exhibit a growth rate of 6.3% between 2018 and 2026. These figures are presented in a recent report published by Transparency Market Research. The increasing number of players using advanced technology and better approval policies in few countries will lead the demand in market.
Based on product type, the tissue mesh/patch segment, which is further, bifurcated into the synthetic mesh and biologic mesh is projected to lead the market. The demand for tissue mesh is high as it helps in repairing damaged and weakened tissues. The rising incidence of stress urinary incontinence and pelvic organ prolapse fueled the demand for tissue mesh. On regional front, North America held maximum share in 2017. Rising sports injuries and growing orthopedic procedures aided the soft tissue repair market in North America.
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Increasing Number of Sports Injuries to Fuel Soft Tissue Repair Market
Globally, the number of cases registered because of sports injuries boosted the soft tissue repair market. Individuals from different age groups are getting inclined towards different sports activities that have simultaneously increased sports injuries. This has led the growth in the soft tissue repair market. Multiple surgeries taking place due to huge aged population and increasing trauma cases increased the demand for soft tissue repair procedures.
In addition, availability of skilled professionals and physicians specialized in soft tissue repair might also increase the demand for this product. Furthermore, rising prevalence of breast reconstruction has further benefitted the market’s growth.
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Lack of Reimbursement Policies to Hamper Market Growth
Despite high demand in the soft tissue repair market is high, few restraints might limit the growth of this market. One of the major restraint is the high cost of these procedures, which refrain people with limited income. Lack of reimbursement has also adversely affected the growth in this market. Moreover, availability of alternative therapies including orthopedic manual therapy, physiotherapy, and others are also expected to deter market’s growth.
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The global soft tissue repair market is prophesied to witness high growth as key vendors in the market are focusing on developing new technologies to offer better products to the customer. Key players in the market are also diversifying product portfolio and integrating new and advanced technologies. For instance, in 2017 European regulatory body approved Orthocell Limited related to its CelGro collagen medical devices that are largely used for dental bone and soft tissue regeneration procedures. Another company ACell Inc. launched a new implantable device – Gentrix Matrix. This device provides a scaffold for neovascularization and cellular infiltration. Efforts made by these companies are expected to benefit the market in the near future. other key companies making efforts in this market are C.R. Bard, Inc., Arthrex, Inc., Stryker, Integra LifeScience Corporation, Smith & Nephew, LifeCell Corporation (Allergan), Covidien plc (Medtornic), and Wright Medical Group N.V.
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The information presented in this review is based on a TMR report, titled “Soft Tissue Repair Market (Product - Fixation Devices, Tissue Mesh/ Patch; Application: Orthopedic Repair, Hernia Repair, Skin Repair, Dural Repair, Breast Reconstruction, Dental Repair, Pelvic and Vaginal Prolapse Repair) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026.”
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