The global soft tissue anchors market was valued at USD 677.7 million in 2021 and it is anticipated to grow further till USD 1,228.1 million by 2031, at a CAGR of 6.1% during the forecast period.
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Orthopedic surgery frequently makes use of soft tissue anchors. An orthopaedic injury may develop as a result of sudden trauma or constant mobility. The main causes of fractures and injuries to the bones are sports and strenuous physical activity.
Market Trends and Drivers
The market for soft tissue anchors is expected to rise as more sports injuries require orthopedic treatment, such as rotator cuff surgery, torn ligament repairs, removal of loose bones or cartilages, etc. A common injury among sportsmen is shoulder dislocation, which, if not properly treated, can lead to irreversible damage. The most popular and least invasive method for treating shoulder dislocation is called arthroscopic bank art repair, which uses soft tissue anchors.
Major Players in the Global Soft Tissue Anchors Market
The key players studied in the global soft tissue anchors market are Smith & Nephew plc, Zimmer Biomet Holdings, Inc., ConMed Corporation, Arthrex, Inc, Johnson and Johnson (DePuy Synthes, Inc.), Medtronic plc, Stryker Corporation, Parcus Medical, LLC., Wright Medical Group N.V., Teknimed SA, MedShape, Inc., Anstem Medical, Groupe Lepine S.A., Neosys Surgical Solutions LTD and Biocomposites Ltd among others.
COVID-19 Impact
Numerous COVID-19 patients, many of whom are in severe condition, have overrun most hospitals in Europe and the United States. The treatment of these individuals has forced medical professionals to put off less urgent surgeries. Furthermore, the supply chains for soft tissue anchors are being disrupted by governments’ strict lockdowns. The pandemic has presented hurdles for manufacturers, and their financial situation has been badly impacted. However, the market will resume steady expansion by the third quarter of 2020 thanks to partnerships with other sector titans and governmental bodies.
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Global Soft Tissue Anchors Market Segmentation
By Product
- Absorbable Soft Tissue Anchors
- Non-absorbable Soft Tissue Anchors
By Material
- Metallic Suture Anchors
- Bio-absorbable Suture Anchors
- PEEK Suture Anchors
- Bio-composite Suture Anchors
- Others
By Tying Type
- Knotless
- Knotted
By End User
- Hospitals
- Emergency Medical Services
- Clinics
- Ambulatory Surgical Centers
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