The artificial ligaments and tendons market was valued at US$17.310 million in 2017 and is projected to expand at a CAGR of 15.25% over the forecast period to reach US$40.564 million by 2023. Ligaments and tendons are bands or sheets of fibrous connective tissue that provide support and stability to the musculoskeletal system. Artificial ligaments possessed comparable efficacy to, and fewer postoperative complications than, allografts and autografts in ligament reconstruction, especially for the anterior cruciate ligament. Increasing incidences of sports injuries are a key driving factor driving the artificial tendons and ligaments market growth. The injury often ruptures the anterior cruciate ligament (ACL) that does not heal after being torn. Due to advancing technology, artificial ligaments are revolutionizing ACL repair and thus positively impacting the market growth. The market is expected to grow at a fast pace owing to the rising adoption of advanced technologies in the healthcare sector, rising disposable income of people across the globe, and increasing research and development activities in this field. However, the high cost of surgery can hamper the market growth to an extent.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the artificial ligament and tendons value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the artificial ligament and tendons market.
Major industry players profiled as part of the report are Orthomed, Orthocell Ltd., and Neoligaments among others.
In the report, the artificial ligaments and tendons market has been segmented by application, by end-user, and by geography