Soft Tissue Repair Market Size

Soft Tissue Repair Market Size

Soft Tissue Repair Market size surpassed was valued at over USD 10.2 billion in 2021 and is estimated to register more than 7.8% CAGR between 2022 and 2030 owing to several factors including the surging prevalence of chronic conditions such as hernia, orthopedic diseases, and breast cancer among others.

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For instance, as per the National Center for Biotechnology Information article published in 2019, the lifetime prevalence of inguinal hernias is estimated to be 27-43% in males and 3-6% in females. Additionally, around 20 million inguinal hernia repairs are performed every year across the globe.
 

The growing geriatric population that is increasingly susceptible to soft tissue injuries is also expected to drive the demand for treatment incorporating soft tissue repair products that would further proliferate the market revenue. Heavy R&D investments by market players such as Smith & Nephew Plc., Medtronic Plc., and Arthrex, Inc. among others leading to the introduction of a wide range of soft tissue repair products are anticipated to drive the soft tissue repair market share globally.
 

Soft tissue repair products are defined as the use of any material to be applied in the repair of muscle, fibrous tissue or fascia, blood vessels, and/or other supporting connective tissues. It involves the replacement of the injured or damaged tissues with healthy tissues. Soft tissue repair product comprises tissue patch/matrix and tissue fixation devices.
 

However, the high cost associated with soft tissue repair procedures is among the major factors hampering product adoption. For instance, a soft tissue repair of the anterior cruciate ligament (ACL) cost around USD 20,000 to USD 50,000 for people without medical coverage including the surgeon fee, facility fee, anesthesia, and graft. In low-middle income countries, such a high cost of procedure prohibits most of the patients from opting for the procedures.
 

Similarly, the high cost of acquisition of these products hampers their adoption rate, especially in the emerging markets. The excessive cost along with the unfavourable reimbursement scenario for these soft tissue repair products in several nations makes them unaffordable for a large section of the target patient population. 
 

The recent outbreak of COVID-19 has negatively impacted the soft tissue repair market revenue. The augmented demand for COVID-19 treatment has significantly impacted other disease treatments comprising soft tissue repair procedures. In 2020, the incidence, as well as the mortality rate due to coronavirus was highest and people preferred to avoid any other treatment procedures at healthcare facilities.
 

For instance, Herniamed reported a 75% decrease in the hernia surgeries performed during March 2020, as compared to the same period in 2019 in Germany. The U.S. declared a national emergency and a ban on all elective surgical procedures in outpatient and inpatient settings. Such variables had impacted the growth of the soft tissue repair market in several countries across the globe.
 

However, in 2021, the technological advancements and incorporation of telemedicine have augmented target disease diagnosis and treatment compliance and promoted the acceptance of tissue repair products. In addition, some of the surgeries if not performed on time may lead to the death of patients. Hence, despite the coronavirus crisis, such emergency surgical procedures are performed in healthcare facilities across the world. These essential surgeries mainly include soft-tissue surgeries of the lower extremity that comprise cartilage resections or repairs, muscle repairs, fasciotomies, tendon transfers, etc.
 

Moreover, as the number of COVID-19-affected patients reduced in several countries globally, the healthcare facilities resumed providing healthcare services including tissue repair procedures and steadily restoring the procedural volume to the pre-pandemic level. Thus, the COVID-19 pandemic has slightly affected the soft tissue repair market in the shorter run; however, the declining COVID-19 infection rates & patients and rising procedural volume are set to facilitate the market growth in the coming years.