Global Cruciate Ligament Repair Procedures Market is Anticipated to Grow at a CAGR of 8.0% from 2020 to 2028
Pune, India, March 17, 2021 (GLOBE NEWSWIRE) — The global cruciate ligament repair procedures market was valued at USD 10,352.2 billion in 2020 and is projected to grow at a CAGR of 8.0% during the forecast period till 2028. With the COVID-19 impact, the global cruciate ligament repair procedures market was valued at USD XX billion in 2020.
The ligament in the knee that crosses from the underside of the thigh bone to the top of the larger bone in the lower leg is known as the cruciate ligament. Substitution and reconstruction of the knee and related ligaments are included in the procedure involved in the treatment of this ligament.
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Knee injury is a type of musculoskeletal injury that is quite common among athletes. Sports activities are the leading cause of knee ligament injuries worldwide. Athletes are more likely to undergo anterior cruciate ligament (ACL) injuries, which can hinder their flexibility and mobility. About 70% of ACL injuries in athletes occur through mechanisms such as pivoting, cutting, sidestepping, out of control play, or awkward landings, according to the American Academy of Orthopedic Surgeons. On the other hand, about 30% of ACL injuries occur from contact with other players.
The growth of the global cruciate ligament diagnosis and treatment market is being driven by an ageing population, rising incidence of age-related diseases such as rheumatoid arthritis and osteoarthritis, and increased government assistance. The synovial fluid between the knee joint begins to dry out with advancing age, which can lead to higher friction in the cartilage, bones, and ligament. Therefore, rising geriatric population is a major growth driver for this market.
The annual incidence of rheumatoid arthritis (RA) is about 3 cases per 10,000 people worldwide. Its prevalence rate is about 1%, with the prevalence rate increasing with age and peaking between the ages of 35 and 50 years. This leads to knee arthritis and other complications that can require procedures to replace the knee. In addition, other connective tissues can become less flexible and more restricted, such as ligaments attached to the bones. These factors are expected to drive the demand for cruciate ligament repair procedures among the geriatric population.
Some Noted Developments Considered in the Report:
- In September 2020, Ethicon, part of Johnson & Johnson Medical Devices Companies, launched a novel, easy-to-use staple line reinforcement device for bariatric, thoracic, and general surgery. It offers significant improvements in ease of use, functionality, and/or efficiency.
- In June 2019, Bioventus, a global leader in orthobiologic solutions, entered into a development collaboration agreement with MTF Biologics, the world’s largest tissue bank. This collaboration is to co-develop a next generation placental tissue product for the treatment of painful musculoskeletal conditions, with an initial focus on knee osteoarthritis (OA). Terms of the agreement have not been disclosed yet.
- In February 2018, Johnson & Johnson Medical Devices Companies acquired Orthotaxy, a privately-held developer of software-enabled surgery technologies, including a differentiated robotic-assisted surgery solution. This acquisition has helped to develop next-generation robotic-assisted surgery platform in orthopaedics.
COVID-19 Impact on Global Cruciate Ligament Repair Procedures Market
The QMI team has closely monitored the impact of COVID-19 on the global cruciate ligament repair procedures industry, and it has been observed that the demand for cruciate ligament repair procedures has slowed down during the pandemic time. But it is anticipated to grow at a healthy pace from mid-2021.
The ongoing situation due to COVID-19 has had a negative impact on the market for cruciate ligament repair procedures, as doctors and healthcare professionals have not been able to concentrate on their regular patients. There is a shortage of doctors as well as support staff and ventilators, equipment, and medicine due to the ongoing pandemic. Researchers have identified an alarming shortage of critical devices for orthopaedics.
Further, orthopaedic doctors are being redeployed to treat COVID-19 patients, as this disease affects a patient’s bones and joints. The orthopaedic community needs compulsory training to understand the symptoms of the disease. Due to the aforementioned reasons, the orthopaedic market has witnessed loss in terms of revenue.
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Global Cruciate Ligament Repair Procedures Market, By Procedure Type
Based on the procedure type, the market has been divided into posterior cruciate ligament (PCL) repair and anterior cruciate ligament (ACL) repair. Among these segments, posterior cruciate ligament (PCL) repair segment is expected to hold a major market share in the forecast period. This is mainly due to advantages such as the minimally invasive aspect of the procedure, rapid recovery, and the prevention of quadriceps atrophy. Increasing incidents of vehicle accidents and contact sports injuries are the main reasons behind the growth of the PCL repair segment.
The anterior cruciate ligament (ACL) repair segment is also expected to grow significantly in the coming years. The ACL repair procedure involves the repair and reconstruction of ACL by using a graft to replace the ligament, and in some cases, the bone fragment linked to the ACL is reattached to the bone, such as in avulsion fracture
Anterior cruciate ligament (ACL) tears are one of the most frequent wounds in contact sports and non-contact sports. In the United States alone, between 100,000 and 200,000 ACL ruptures occur each year. Football is the world’s most popular sport, and about 40% of all knee injuries in football are related to ACL. Therefore, increasing participation in sports globally will raise the incidence of knee injuries and the prevalence of ACL injuries around the world. This will lead to increasing cruciate ligament correction surgeries, which in turn, will drive the overall market.
Global Cruciate Ligament Repair Procedures Market, By Indication
Based on indication, the market is classified into trauma, arthritis, and others. The trauma segment is anticipated to account for the largest market share. The anterior cruciate ligament (ACL) or posterior cruciate ligament (PCL) are often caused by high trauma events such as car accidents. For knee joint stability, the anterior and posterior cruciate ligaments are essential. They make the joint stable and yet are configured in a way that allows more than 90 degrees to flex the knee. Rising incidence of injuries due to road accidents around the globe is one of the key factors in driving the growth of the market.
Swelling and tenderness in one or more joints is referred to as arthritis. Joint pain and stiffness are the main signs of arthritis. Osteoarthritis and rheumatoid arthritis are the most common forms of arthritis. Rheumatoid arthritis (RA) is an autoimmune disease that can cause joint pain and damage. Joint damage caused by RA usually occurs on both sides of the body. So, if a joint is affected in one of your arms or legs, the same joint in the other arm or leg is likely to be affected too.
With increasing age, bones and connective tissues such as tendons, ligaments, and cartilage weaken. This creates a higher risk of injury, especially in the knees. According to the United States Department of Health and Human Services, the country’s geriatric population is expected to reach 72.1 million by 2030, more than double the number in 2000. This will increase the incidence of arthritis. According to the American Association of Orthopedic Surgeons, obese populations are 20 times more likely to undergo knee replacement surgery than those who are not overweight.
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Global Cruciate Ligament Repair Procedures Market, by Region
Based on region, the global cruciate ligament repair procedures market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North America region is anticipated to account for the largest share in the global cruciate ligament repair procedures market. The growing geriatric population, increasing prevalence of sports injuries, and increasing patient preference for minimally invasive procedures will help develop market opportunities in the North America market.
In addition, a well-established healthcare infrastructure and rising healthcare expenditure are expected to fuel the cruciate ligament repair procedures market in this region. The United States is holding the largest share of the cruciate ligament repair procedures market in the North America region.
The Asia Pacific cruciate ligament repair procedures market is expected to grow at a relatively high rate during the forecast period, owing to increased focus on healthcare infrastructure development by both public and private hospitals, as well as growing demand for affordable care from a large patient population. The vast scope of development and rapidly urbanising population in this region provide strong business expansion potential for both emerging and established market players, which is a major reason behind the cruciate ligament repair procedures market’s rapid growth in Asia Pacific.
Some Major Findings of Cruciate Ligament Repair Procedures Market Report Include:
- Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global cruciate ligament repair procedures market analysis by the aforementioned segments along with an analysis of trend-based insights and factors
- Profiles major key market players operating in the global cruciate ligament repair procedures market, which include Smith & Nephew Plc, Arthrex, Inc, Stryker Corporation, Tissue Regenix Group Plc, Integra Lifesciences Holding Corporation, Medtronic Plc, and others.
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that includes analysis, along with the drivers, restrains, opportunities, and challenges that are prevailing in the global cruciate ligament repair procedures market.
- Impact of COVID-19 on the global cruciate ligament repair procedures market
Browse key industry insights spread across 150 pages with 66 market data tables and 106 figures & charts from the report , “Global Cruciate Ligament Repair Procedures Market, By Procedure Type (Posterior Cruciate Ligament (PCL) Repair, Anterior Cruciate Ligament (ACL) Repair), By Indication (Trauma, Arthritis, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2028 ” in depth analysis along with the table of contents (ToC).
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