PORTLAND, Oregon, August 24, 2018 /PRNewswire/ --
The dominance of North America in the global soft tissue market is attributed to increased awareness about the potential benefits of soft tissue repair and presence of a well-established healthcare infrastructure in the region.
A new report published by Allied Market Research, titled, Soft tissue repair Market by Type (Tissue Mesh, Laparoscopic Instrument, and Fixation Device), and by Application (Breast Reconstruction, Dental Repair, Dural Repair, Head & Neck Product, Hernia Repair, Orthopedic Repair, Pelvic & Vaginal Prolapse Repair, and Skin Repair): Global Opportunity Analysis and Industry Forecast, 2017
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Upsurge in obese population and significant rise in sport-related injuries are the key factors driving the industry. However, high cost of these procedures and lack of reimbursement provisions would hinder the market growth. Furthermore, new product launches in emerging economies is expected to create opportunities to the market players in the near future.
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Laparoscopic instrument market to generate $11.1 billion by 2025
The laparoscopic instrument segment contributed the highest market share of nearly 43% in 2017. Maintaining its dominance throughout the forecast period, this segment is projected to accrue nearly $11.1 billion by 2025. The tissue mesh segment is expected to become the fastest growing segment, registering a CAGR of 5.8% during the forecast period. The report discusses the various types of soft tissue repair methods used in the industry, which include laparoscopic instrument, tissue mesh, and fixation device.
Hernia repair will be the prime application
The report classifies the application segment into breast reconstruction, dural repair, dental repair, hernia repair, head & neck product, pelvic & vaginal prolapse repair, orthopedic repair, and skin repair. The Hernia repair segment contributed about one-fourth of the total market share in 2017, followed by the orthopedic repair segment. The segment is expected to maintain its dominance from 2017 to 2025. However, the dental repair segment will grow at the fastest CAGR of 6.4% during the forecast period.
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North America to remain the forerunner
The study offers country-level analysis of various geographical regions, which include North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). North America contributed to half of the total market revenue in 2017. It is projected to lead the market throughout the forecast period owing to increased awareness about the benefits of soft tissue repair and presence of a well-developed infrastructure for healthcare facilities in the region. However, Asia-Pacific would be the fastest growing region during the forecast period and will double in revenue by 2025.
Top players operating in the industry:
The top market players analyzed in the research include Allergan Plc. (LifeCell Corporation), CryoLife, Inc., Athersys, Inc., Medtronic Plc., Integra Lifesciences Corporation, Stryker Corporation, Organogenesis Inc., Smith & Nephew plc., Zimmer Biomet Holdings, Inc., and Becton, Dickinson and Company (C.R. Bard). They have adopted various strategies including new product launches, collaboration, partnerships, joint ventures, mergers & acquisition, and others to consolidate their position in the market.
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