Artificial Tendons and Ligaments Market Size, Share, Trends and Forecast 2023

According to research report "Artificial Tendons and Ligaments Market by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Spine Injuries, and Hip Injuries), and Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2023", The global artificial tendons and ligaments market is expected to reach USD 35.0 million by 2023 from USD 18.5 million in 2018, at a CAGR of 13.6% during the forecast period (2018–2023). The key factors driving the growth of this market include increasing incidence of sports injuries, growing number of initiatives to increase the awareness about artificial tendons and ligaments, increasing research activities on artificial tendons and ligaments, increasing preference for minimally invasive surgeries, benefits of artificial tendons and ligaments, and the issues related to the use of orthobiologics.

Knee injuries to account for the largest share of the market in 2018

The artificial tendons and ligaments market is segmented on the basis of application into knee injuries, shoulder injuries, foot and ankle injuries, and other injuries (spine and hip injuries). In 2018, the knee injuries segment is expected to register the largest share of the global market and is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the increasing public participation in sports and athletic activities, increasing awareness, and the benefits of artificial tendons and ligaments.

Download Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=176955103

Europe to hold the largest share of the market in 2018

In 2018, Europe is projected to account for the largest share of the artificial tendons and ligaments market, followed by Asia Pacific. The market for artificial tendons and ligaments in this region is driven by the increasing number of government initiatives to encourage sports; increasing number conferences, meetings, symposia, and workshops to showcase the latest sports technologies in the UK; increasing cases of sports-related injuries; rising cases of knee replacements; minimal out-of-pocket expenditure for medical devices; increasing number of agreements between organizations, universities, and companies in Germany; increasing aging population; and growing initiatives to increase awareness about artificial tendons and ligaments in France.

Sample of the Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=176955103

The key players in the global artificial tendons and ligaments market are LARS (France), Neoligaments (UK), Cousin Biotech (France), Orthomed S.A.S. (France), FX Solutions (France), Shanghai PINE&POWER Biotech (China), and Mathys AG Bettlach (Switzerland).

Artificial Tendons and Ligaments Market Top Players and Strategies

The global artificial tendons and ligaments market is projected to reach USD 35.0 million by 2023 from USD 18.5 million in 2018, at a CAGR of 13.6%. The artificial tendons and ligaments market is emerging and fragmented in nature with various regional and international players. In 2017, the artificial tendons and ligaments market was dominated by LARS (France) and Neoligaments (UK).

LARS held the leading position of the global artificial tendons and ligaments market in 2017. The company offers the Ligament Augmentation Reinforcement System (LARS) for a wide range of applications, such as soft-tissue repair and reconstruction for the treatment of knee, shoulder and arm, foot and ankle, and hip injuries. Since 1992, more than 60,000 LARS ligaments have been implanted by 400 surgeons worldwide, with more than 30,000 used for ACL alone. LARS ligaments have been successfully used for more than 25 years in a wide variety of patients ranging from the general public to elite athletes. LARS ligament procedures have led to high patient satisfaction, shortened recovery time, early return to normal activity (within 3–6 months), immediate restoration of stability and function, and minimal complications. Also, these procedures are associated with a high implant survival rate of 92.9% after more than ten years of ACL reconstruction. The company’s operations are spread across Australia, the UK, France, Germany, and Canada owing to its distribution agreement with the Corin Group (UK) and Revolution Surgical (Australia). Complications associated with older-generation products and high failure rates have adversely affected the brand image of artificial tendons and ligaments. In order to address these concerns and increase its customer base, LARS focuses on publishing research papers showcasing the efficacy of its products. For instance, the company has published 22 papers regarding the use of LARS in knee ligament reconstruction of the ACL and PCL.