The global soft tissue repair market is expected to see rapid growth over the next few years, according to a MarketsandMarkets report.
Here are six key trends:
1. The market is expected to reach $14.7 billion in 2019, up from $10.3 billion in 2014.
2. It is estimated to grow at a compound annual growth rate of 7.5 percent from 2014 to 2019.
3. Growth in this market is attributed to the increasing incidence of soft tissue injuries, increasing healthcare expenditure as well as lack of substitutes for soft tissue repair surgery.
4. However, the increasing cost of surgical procedures, the lack of reimbursement and stringent regulatory requirements are curbing market growth to a certain extent.
5. North America occupied a major share in this market, however, emerging markets — such as the Asia-Pacific region — are expected to record major growth in the next few years as well.
6. Key players in the market include LifeCell, Johnson & Johnson, Arthrex, Smith & Nephew, Integra Lifesciences and Stryker.
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