Reportbuyer.com has released a new report on the orthopedic soft tissue repair market.
1. Globally, increase in aging population is playing a major role in ramping up the incidence of sports injuries resulting in increased demand for orthopedic soft tissue repair procedures.
2. ACL/PCL reconstruction is the largest practiced procedure in the orthopedic soft tissue repair market and it is expected to grow at a compound annual growth rate of about 8.3 percent from 2013 to 2019. Some of the other major procedures for orthopedic soft tissue repair are meniscal repair, hip arthroscopy, rotator cuff, shoulder labrum and biceps tenodesis.
3. A Transparency Market Research report, released in March, predicted that the global orthopedic soft tissue repair market is expected to reach an estimated value of $8.5 billion by 2019. In 2013, the market was valued at $5.6 billion and it is expected to grow at a compound annual growth rate of 7.2 percent from 2013 to 2019, according to the report.
4. Several devices crown the orthopedic soft tissue repair market, including DePuy Synthes Mitek Sports Medicine's RIGIDLOOP system, which when used with the INTRAFIX ACL Tibial Fastener System, provides surgeons with a total procedural solution for anatomic soft tissue ACL reconstructions as well as MedShape's ExoShape Femoral Soft Tissue Fastener for anterior cruciate ligament repair.
5. Soft tissue repair training is also becoming a strong area of interest. OrthoSensor recently conducted a surgical training event focused on soft tissue balancing during total knee replacement just prior to the 15th Annual Current Concepts in Joint Replacement Spring 2014 meeting. Participants had the opportunity to learn the principles of balance and soft tissue management in total knee procedures as well as how to best utilize OrthoSensor's VERASENSE Knee System surgical sensors.
6. In May, a report by Market Research Reports predicted that the global medical device market is expected to grow at a rate of 6.2 percent annually from 2014 to 2018.
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