The increase in the number of sports accidents, growing awareness about the artificial ligament and ligaments, advancements in surgical procedures, and advances in techniques related to ACL reconstructions are the driving factors for the market.
According to the current analysis of Reports and Data, the global artificial ligament and ligaments market was valued at USD 23.16 Billion in 2020 and is expected to reach USD 60.90 Billion by the year 2028, at a CAGR of 13.2%. The artificial ligament and ligaments are temporary replacements for supporting the broken or ruptured muscles or ligaments of the body. These artificial implants provide support to the broken tissues until the tissue cells regenerate the broken parts in the body. The natural ligament and ligaments can be ruptured due to any strong external force by trauma or serious accidents.
The artificial ligament and ligaments are used widely by sportspersons, especially athletes and gymnasts, as they are highly susceptible to accidents. For instance, according to the Center for Disease Control and Prevention (CDC), in 2016 stated that around 30 million people, including children and adults, take part in the youth sports events in the US. An increase in accidents in sports has proven to drive the market rapidly. The increasing improvements in the clinical procedures to cause minimal discomfort to the patients and rise in the research of artificial ligament and ligaments are critical drivers for the market. Various research organizations are entangled in the research and development to make tensile products that are physiologically compatible with the body. Metals such as titanium, niobium, and others are used widely and are under research for constant improvements in the biocompatibility of these materials within the body.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Cousin Biotech, BioMed, LARS, Neoligaments, Orthomed S.A.S., FX Solutions, Shanghai PINE POWER Biotech, Mathys AG Bettlach, Arthrex Inc., Stryker, and DePuy Synthes
Market Segmentation by Types:
Application Outlook (Revenue in Million USD; 2018–2028)
- Knee Injuries
- Shoulder Injuries
- Foot and Ankle Injuries
- Others
End-use Outlook (Revenue in Million USD; 2018–2028)
- Hospitals and clinics
- Ambulatory surgery centers.
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Artificial Ligament and Ligaments market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Further key findings from the report suggest
- The European segment held the highest share in the market followed by Asia Pacific and North America. The rise in participation in sports sector and affordable medical devices have driven the market widely in Europe.
- The artificial ligament and ligaments are made out of polymers such as polypropylene and polyethelyene terephthalate. These polymers are non-reactive in the body and hence it is used for manufacturing efficient product.
- The other materials used for making these devices include titanium alloys, polyster fabric and dimethyl siloxane. These materials are proven to be biocompatible for use inside the body and are extremely inert materials
- The use of artificial ligament and ligaments have reduced the patients’ discomfort caused due to other medical procedures such as autografting or allogeneic grafting. These procedures are more complex than the implantation of artificial ligament and ligaments
- The knee surgeries are the maximum shareholding segment with 39% of the market and is expected to keep growing in the forecast period. According to the American Academy of Orthopedic Surgeons, There are nearly 95,000 new ACL ruptures each year, and approximately 60,000-75,000 ACL reconstructions are performed annually in the United States.
- Many technological innovations are rising in this field and increasing market growth. For instance, scientists from Hokkaido University developed a bendable, tough, and fiber-reinforced hydrogel biomaterial that can endure excessive pressure and is compatible with the body
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