Market Overview and Dynamics
The soft tissue repair market in North America is expected to grow from US$ 3,806.87 million in 2021 to US$ 5,846.24 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The rising incidence of chronic illnesses, surge in the geriatric population, and increase in the need for pediatric care are a few of the primary factors boosting the growth of the North America healthcare sector. This sector has been experiencing rapid transformation over the last couple of years. Various countries across the region favor the use of advanced technologies in healthcare. However, with the increase in the need for better healthcare facilities, especially in emerging economies, technology-enabled care (TEC) solutions are in high demand in healthcare systems. As a result, various healthcare players are investing significant amounts of their revenues in R&D activities to develop advanced solutions, including stem cell products and associated therapeutic technologies. Also, reimbursements being provided for various medical procedures are likely to fuel the growth of this sector during the forecast period. The abovementioned factors are expected to generate growth opportunities for the North America soft tissue repair market players during the forecast period.
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Market Introduction
The North America soft tissue repair market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Sports medicine has received importance with the development of new products for treating various sports injuries, growing awareness about sports injuries, and increasing expenditure on sports medicine. A growing number of sport medicine centers in developed and developing economies has encouraged developments in diagnostic and treatment services for several soft tissue injuries. In the US, several medical institutes provide training in sports medicine and surgical tissue repair. The rising number of clinical trials, and the US Food and Drug Administration (FDA) approvals for new product launches signify the focus on new product developments in regenerative medicine. Key players in the soft tissue repair markets are engaged in extensive research and development activities. Also, the rising interest of athletes and government bodies would pave the way for high-quality randomized control trials and encourage new products in the market.
In North America, the US and Mexico witnessed a spike in COVID-19 cases, which has compelled the governments to restrict business activities to prevent the spread of the virus. At present, all the efforts and resources are being put toward mitigating this crisis, which has slowed down other economic activities. The COVID-19 outbreak has had a significant impact on all aspects of orthopedic care and practice. The outbreak pandemic has negatively affected activities related to the outpatient clinic, emergency and elective surgery, rehabilitation, resident training, personnel management, personal protective equipment use, telemedicine, and all sub-specialties of orthopedics. Therefore, the crisis is restraining the growth of the soft tissue repair market in North America.
North America Soft Tissue Repair Strategic Insights
Strategic insights for the North America Soft Tissue Repair provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Smith & Nephew
DePuy Synthes
Arthrex, Inc.
Medtronic
Integra Life Sciences Corporation
Stryker Corporation
BD
Organogenesis Inc.
Allergan Plc.
W. L. Gore and Associates, Inc.
North America Soft Tissue Repair Regional Insights
The geographic scope of the North America Soft Tissue Repair refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
Based on product, the tissue mesh / patch segment accounted for the largest share of the North America soft tissue repair market in 2021. Based on application, the orthopedic repair segment accounted for the largest share of the North America soft tissue repair market in 2021.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America soft tissue repair market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Smith & Nephew, DePuy Synthes, Arthrex, Inc., Medtronic, Integra Life Sciences Corporation, Stryker Corporation, BD, Organogenesis Inc., Allergan Plc, W. L. Gore and Associates, Inc., Cook Medical LLC, B. Braun Melsungen AG, DSM and Baxter International Inc.
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America soft tissue repair market
- Obtain market revenue forecast for market by various segments from 2020-2028 in North America region.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
