Artificial Tendons and Ligaments Market Size is estimated to record commendable growth between 2022 and 2028. This rise is prominently attributed to the increasing number of research activities across various regions. For instance, in June 2020, researchers from the University of Sydney entered into a collaboration with the University of Erlangen-Nuremberg and Columbia University for the development of a synthetic material for assisting in the regeneration of injured ligaments and tendons.
As per studies, the worldwide costs of ligament and tendon rupture repair and surgery revision account for tens of billions of dollars across the clinical orthopedic industry.
On the basis of application, the knee injuries segment is estimated to depict appreciable gains in the artificial tendons and ligaments market through 2028 owing to an escalation in ACL injuries. These injuries frequently occur during active sports that involve a lot of rapid starts and stops and jumping. It is to be noted that over 70% of ACL injuries occur without any blow or contact with the knee. As per statistics, ACL injuries roughly affect one in 3,000 people in the U.S. These factors are anticipated to drive segmental expansion over the projected period.
Based on end-use, the hospitals and clinics segment is expected to register lucrative growth over 2022-2028. This rise is mainly attributed to the high frequency of tendon repairs in outpatient settings with short hospital stays. Different types of devices required for repair also include tendon grafts, which are deployed by surgeons in case of severe injury. Moreover, clinics and hospitals also provide numerous reconstruction and repair services, due to which the segment is set to witness considerable expansion over the ensuing years.
By region, the North America artificial tendons and ligaments market is projected to record commendable gains from 2022 to 2028. This upsurge is due to an increase in regulatory approval for the development and rollout of numerous tendon replacement solutions. For instance, in December 2020, the U.S. FDA granted marketing authorization for an ACL (anterior cruciate ligament) implant, intended for serving as an alternative to ACL reconstruction for the treatment of ACL tears.
Major players across the artificial tendons and ligaments industry include LARS, Artelon, Orthomed S.A.S., FX Solutions, Cousin Biotech, Corin, Shanghai Pine & Power Biotech Co., Ltd., Neoligaments, Mathys AG Bettlach, and others. Numerous artificial ligament manufacturers are focusing on the adoption of strategic initiatives such as mergers, acquisitions, collaborations, partnerships, and product developments for maintaining their position in the artificial tendons and ligaments market.
For instance, in March 2021, Corin Australia made it to the headlines for its distribution of Ligament Augmentation and Reconstruction System (LARS) for a period of almost 20 years. The LARS range comprises over twenty products, providing augmentation options for numerous lower and upper limb indications.
While vaccines play a crucial role in preventing the spread of the SARS-CoV-2 virus, numerous studies are being conducted for examining whether COVID vaccinations could lead to arthritis issues. This is because, in the past, almost all types of vaccines have been recorded to be associated with adverse events. Such studies are expected to help in determining which individuals are facing a higher risk for the development of autoimmune diseases post COVID-19 vaccination. This is set to add a new dimension to product developments across the artificial ligaments and tendons industry for ensuring minimal effect of COVID vaccinations on such products.
Market, by Application
The above information is provided for the following regions and countries: