The Global Soft Tissue Repair Market is projected to reach $20.17 billion by 2028, from a value of $13.67 billion in 2022, by registering a CAGR of 6.7% during the forecast period. The growing number of patients suffering from sports-related injuries, increasing volume of surgeries and the rising prevalence of severe trauma injuries are the major factors propelling the growth of the market. However, high product and procedure costs are hampering market growth. Moreover, growing investments in R&D activities from major players and growing adoption of advanced soft tissue repair products in emerging markets are creating ample opportunities across the globe.
Recent Developments
In May 2022, Paragon 28, Inc. launched TenoTac 2.0 Soft Tissue Fixation System. The TenoTac® Soft Tissue Fixation System uses a titanium threaded implant and a simple insertion method to gain optimal fixation of soft tissue to the bone to relieve contractures of the lesser toes. The TenoTac 2.0 implant was optimized allowing for greater capture of soft tissue, streamlined tensioning, and improved fit to the bony surface.
In Dec 2021, Becton, Dickinson and Company acquired Tissuemed, Ltd. to add advanced sealant to its portfolio of surgical solutions. The acquisition of Tissuemed, Ltd. expands BD’s global offerings for surgeons outside of the United States. Tissuemed’s lead product, Tissuepatch, is a proprietary sealant technology that bonds to tissue to help control internal bleeding or prevent leaks from surgical incisions.
In Sep 2020, Smith+Nephew acquired the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation. The acquisition supports Smith+Nephews strategy to invest in higher-growth segments. This acquisition will significantly strengthen Smith+Nephews extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and an exciting new product pipeline.
In April 2019, In2Bones Global, Inc. launched the ClearGuard LE Endoscopic Soft Tissue Release System for the use of podiatric and orthopedic surgeons to correct other foot conditions enabling surgeons to operate through a minimal incision while maintaining complete accuracy and control. This launch expanded the product portfolio of the company.
Competitive Landscape
Zimmer Biomet Holdings, Inc, Wright Medical Technology, Stryker Corporation, Arthrex, Inc, Organogenesis, Medtronic Plc, Covidien plc, LifeCell Corporation, Johnson & Johnson, CryoLife, Inc, Smith+Nephew, Integra Lifesciences Corporation, C.R. Bard, Inc, Lifenet Health, Inc, American Medical Systems Inc, Becton, Dickinson and Company, Paragon 28, Inc., and In2Bones Global, Inc. are some of the major players in the global Soft Tissue Repair market.
