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Tissue repair is defined as the restoration or healing of damaged tissue followed by surgical or chemical-induced injury. The damaged tissue is replaced by granulation tissue developed to form scar tissue in the repairing procedure. Factors contributing to the market's growth are a rise in tissue injuries among people, especially the older population, and the increasing number of patients suffering from sports-related injuries. For instance, as per National Safety Council (NSC), in 2019, there were approximately 468,000 injuries with or without exercise equipment in the sports category, which propelled the demand for tissue repair technology and provided lucrative growth opportunities for manufacturers.
The rising incidences of trauma patients and orthopedic surgeries are estimated to drive the tissue repair technologies market over the forecast duration. Injury to the tissues can cause unbearable pain and stop the movement of the bones, leading to chronic pain and therefore can hamper the everyday life of people. For instance, in January 2021, according to American Joint Replacement Registry states that of 1.2 million patients, over 1.7 million hip and knee replacement procedures were performed. Thus with the rising number of injuries, the products used in repair surgeries and procedures are anticipated to witness exponential demand over the forecast period.
However, the higher price associated with the surgical procedure is estimated to obstruct the market growth during the projected timeframe. Additionally, limited reimbursement and lack of skilled professionals are restraining the market growth for tissue repair technology.
Key Market Driver -
Increasing Incidences of Trauma patients and Orthopedic Surgeries To Boost Market Growth
Key Market Restraint -
High Cost Associated with the Surgical Procedures
Globally, the tissue repair technologies market can be segmented into process, application, end-user, and region. On the process-based, the market has been distributed into regeneration and replacement. On an application basis, the market can be segmented into hernia repair, orthopedic repair, dental reconstruction repair, breast reconstruction repair, skin repair, etc. Based on end-user segmentation, the market can be categorized into hospitals, surgical centers, and others.
Geographically, the tissue repair technologies market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Major companies that are present in the tissue repair technologies market are Arthrex, Inc., Boston Scientific Corporation, Stryker, B. Braun Melsungen AG, Integra Lifesciences Co, Baxter, KCI Licensing, Inc., BD, Agilent Technologies, and other prominent players
Based on the segmentation of the region, the global tissue repair technologies market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is dominating the market in 2021 and is estimated to retain its leading position over the forecast duration. Factors such as higher funding in research and development and a rise in the geriatric population supplement the North American market growth. For instance, as per the Hindu center for politics and public policy article, the proportion of the aged population is anticipated to increase from 9.3 percent in 2020 to around 16.0 percent by 2050. As older people are more inclined to fractures and trauma-related injury, therefore often require joint replacement and reconstruction surgeries, thus driving the market growth. The European and APAC regions are estimated to secure the second and third leading position in the market, respectively, owing to the large number of cases related to brain injuries and government initiatives to expand health care infrastructure. These factors combined with others are estimated to augment the market growth in Europe and APAC regions for the coming years. The market growth in Latin America, Middle East, and Africa is expected to grow slower than the other areas due to the limited penetration of advanced technology.
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