PUBLISHER: Grand View Research | PRODUCT CODE: 1493388
PUBLISHER: Grand View Research | PRODUCT CODE: 1493388
The global orthopedic soft tissue repair market size is expected to reach USD 11.86 billion by 2030, registering a CAGR of 8.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising incidence of soft tissue injuries globally is one of the major market drivers. For instance, according to the Healon Health article, about 628,000 people sprain their ankles annually, whereas ankle sprains are the most common sports-related injury. In addition, a John Hopkins Medicine article states that approximately 30 million individuals engage in organized sports in the U.S., leading to over 3.5 million injuries annually.
The growing preference for secure and uncomplicated long-term surgical procedures and an increasing number of individuals adopting active lifestyles fuel the demand for the market. Furthermore, the popularity of vigorous, energetic sports such as football, soccer, and basketball has significantly increased soft tissue injuries. According to National Safety Council statistics, in 2022, nearly 3.6 million individuals went through serious emergency injuries caused by sports and recreational activities. Some key factors contributing to the expansion of the market include an aging population, rising obesity rates, and advancements in medical technology.
The growing technological advancements and research in studying novel components and soft tissue repair mechanisms, such as innovative surgical techniques, bioresorbable materials for patches, wound healing or suture anchors, and fixation devices, are helping to stabilize and support bones during their recovery process following surgery or injury. These devices cater to a range of conditions, such as fractures and sports injuries, and help in primary anterior cruciate ligament (ACL) tear repair.
For instance, in August 2022, CONMED acquired Biorez, Inc., a medical device manufacturer. This acquisition focuses on the advanced healing of soft tissue using its patented BioBrace implant technology and acquiring bioinductive collagen scaffold technology applied in sports medicine.