Soft Tissue Market Predicted to Reach USD 8.6 Billion by 2031 with 7% CAGR | Global Analysis by TMR

Wilmington, Delaware, United States, May 23, 2023 (GLOBE NEWSWIRE) -- The global soft tissue market stood at USD 4.3 billion in 2021 and the global market is projected to reach USD 8.6 billion in 2031. Global soft tissue industry is anticipated to expand at a CAGR of 7% between 2021 and 2031.

Surge in the incidence of sports-related injuries along with rapid growth in the number of athletes is key impact-rendering drivers for the market over the forecast period. Sports activities are the leading cause of soft tissue injuries worldwide. Athletes are prone to ACL injuries, which can hinder their mobility.

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Rising career opportunities and a growing inclination toward fitness, owing to growing health awareness have increased the number of people choosing sports as a hobby or a career, i.e., in turn, is expected to increase their chances of incurring injuries.

Demand for superior quality non-bone tendon allografts is being increased in the healthcare industry owing to their ability to precisely size match and offer flexibility while performing different types of surgical procedures. Several industry leaders are investing in Research & Development in order to develop next-gen non-bone tendon allografts that can be used as an alternative to autografts intended for any ligament reconstruction processes. Such initiatives are prognosticated to drive the growth prospects in the global soft tissue market during the forecast period.

Global Soft Tissues Market: Growth Drivers

• Increase in the demand for custom 3D bone allografts due to the surge in the adoption of digital technologies globally is fueling the sales growth of the soft tissue market. Aging population and rising obesity rate are expected to drive the growth of the market during the forecast period.
• A report published by World Health Organization (WHO) says that more than 1000 million people worldwide are obese and the number is still increasing. The W.H.O estimates that by 2025, approximately 167 million adults and children will become less healthy because they are overweight or obese.
• Rising sports Injuries like ankle sprains, muscle strain injuries of the hip, tendonitis, bursitis, and stress injuries is also expanding scope for soft tissue diagnostics
• According to a report published by Orthopedic Specialists of Oakland County (OSOC) in 2022, it was found that injuries associated with participation in sports and recreational activities accounts for 21 % of all traumatic brain injuries, among children, in the United States

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Key Takeaways of Market Report

• Global soft tissues market to generate absolute dollar opportunity worth US$ 8.6 billion until 2031.
• Global soft tissues market from 2021 to 2031 grew at a CAGR of 7%
• Global soft tissue market was currently valued at US$ 4.3 billion in 2021.
• Global soft tissues market stood at US$ 4.15 billion in 2020.
• Market value of the global soft tissues stood from 2018 to 2022 is 3.8%
  

Global Soft Tissues Market: Regional Landscape

• Market is expected to gain notable business prospects in North America during the forecast period owing to factors such as an increase in the regional healthcare expenditure, rise in research activities, early adoption of technological advancements in the regional healthcare industry, and the presence of a sizable number of key players in the region
• Market in Asia Pacific is prognosticated to expand at a significant pace in the near future owing to several important factors such as an increase in the number of new product launches, distribution agreements, and acquisitions in the region

Global Soft Tissue Market: Key Players

• Corneat Vision
  

Strategies

Aim to significantly impact the well-being of millions by addressing unmet medical needs across several therapeutic fields. Our disruptive platform material technology, the CorNeat EverMatrix™, harnesses the unique characteristics of microstructures of the human body to develop completely synthetic biomimetic implants which mend, reinforce, replace, and bio-integrate with resident tissue.

• Arthrex, Inc.
  

Sustainability

1. Continuous improvement of our environmental performance
2. Commitment to environmentally friendly behavior
3. Promotion of biodiversity on our company premises
4. Development of durable and environmentally friendly products
5. Commitment to reduce the climate impact of our direct operations and supply chain
6. Transparently report on our company's greenhouse gas emissions

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Global Soft Tissue Market: Segmentation

Product Type

• Cartilage Allografts
• Tendon Allografts
  1. Achilles Tendon
  2. Patellar Tendon
  3. Others
• Meniscus
• Ligaments Allografts
  1. Anterior Cruciate Ligament
  2. Medial Cruciate Ligament
• Artificial Cornea
• Dental Allografts
• Collagen Allografts
• Amniotic Allografts
  

End-user

• Hospitals
• Orthopedic Clinics
• Others
  

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
  

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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