Cruciate Ligament Repair Procedures Market to Grow with a CAGR of 6.83% through 2028
Improved health awareness and the growing sports
industry is expected to drive the Global Cruciate Ligament Repair Procedures Market
growth in the forecast period, 2024-2028.
According to TechSci Research report, “Cruciate
Ligament Repair Procedures Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Cruciate
Ligament Repair Procedures Market stood at USD 12.27 billion in 2022 and is
anticipated to grow with a CAGR of 6.83% in the forecast period, 2024-2028.
This can be attributed to research and development. Continuous research and
development efforts in the field of orthopedics have led to the introduction of
innovative techniques and materials for cruciate ligament repair. These
advancements have not only improved the success rates of surgeries but also
attracted more patients seeking these state-of-the-art procedures. Furthermore, biodegradable implants are
another innovative trend in cruciate ligament repair. These implants gradually
dissolve over time, reducing the risk of complications associated with
non-absorbable materials. Biodegradable implants have the potential to improve
long-term patient outcomes and reduce the need for implant removal surgeries.
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Cruciate ligaments, also referred to as cruciform
ligaments, play a critical role in providing support to the knee's skeletal
structure. When these ligaments sustain injuries, cruciate ligament repair
surgery employs a surgical graft to replace the damaged ligaments. With aging,
the synovial fluid in the knee joint tends to decrease, leading to heightened
friction between the bones, ligaments, and cartilage. This increased friction
can lead to conditions like arthritis, often necessitating knee replacement procedures.
Furthermore, the ligaments connecting to the bones become stiffer and less
flexible. These factors contribute to a growing demand for cruciate ligament
repair procedures, especially among the elderly population. The market for such
procedures is poised for growth due to the increasing requirement for effective
treatments among older individuals.
Globally, sports-related activities are a primary
contributor to knee ligament injuries, with athletes, in particular, being more
susceptible to ACL (anterior cruciate ligament) injuries that limit their
flexibility and mobility. A survey conducted by Safe Kids Worldwide has shown
that over a million young athletes seek medical attention for sports-related
injuries annually worldwide. Additionally, data from Michigan State University
indicates that soccer accounts for approximately 46% of all knee injuries,
followed by basketball (42%), running (38%), and gymnastics (31%).
Moreover, the escalating participation in sports has
resulted in a higher incidence of various injuries among athletes, creating a
greater demand for knee surgeries on a global scale. The 2022 annual report of
the American Joint Replacement Registry reveals that more than 2.8 million knee
and hip surgeries were performed at over 1,250 institutions across all 50
states and the District of Columbia. This marks a 14% increase in the total
number of registered procedures compared to the previous year, establishing the
AJRR as the world's largest arthroplasty registry in terms of procedure volume.
A significant challenge for patients, especially in
emerging countries with low reimbursement rates, is the substantial cost of
knee-related surgeries. Patients lacking sufficient insurance coverage are
likely to face higher expenses for knee repair procedures, encompassing
out-of-pocket hospital admission costs and co-pay fees. Consequently, the
elevated costs associated with cruciate ligament correction surgeries are
expected to hinder market growth during the forecast period.
Additionally, the presence of skilled orthopedic
surgeons, sports medicine specialists, and other healthcare professionals
trained in cruciate ligament repair procedures is crucial for the market's
expansion. As the demand for these procedures increases, there is a parallel
need for a proficient workforce capable of performing successful surgeries,
driving advancements in the field. Likewise, ongoing research and development
activities in the domains of orthopedics and sports medicine focus on enhancing
the efficacy and safety of cruciate ligament repair procedures. This
encompasses the development of novel surgical techniques, implant materials,
and rehabilitation protocols. The continuous progress resulting from research
and development efforts contributes to the market's growth by providing
improved treatment options for patients.
The Global Cruciate Ligament Repair Procedures Market
is segmented into procedure type, end-use, regional distribution, and company.
Based on its procedure type, the ACL repair category
emerged as the leading sector in 2022. This predominance can be ascribed to a
variety of factors, including the increasing frequency of ACL injuries, the
constraints imposed by intra-articular conditions on ACL healing, and the surge
in physical activity and sports involvement, such as football, hockey, and
basketball. Moreover, technological advancements, particularly the development
of minimally invasive surgical methods that facilitate quicker recovery and
better outcomes, are anticipated to bolster the market's expansion.
The PCL repair category is projected to experience the
most rapid CAGR over the forecast period. This is mainly due to the gradual
recognition and diagnosis of PCL injuries, which contribute to a growing demand
for PCL repair procedures as medical knowledge and awareness continue to
increase. Additionally, the increasing occurrence of vehicle accidents and
injuries resulting from contact sports is fueling the necessity for PCL
repairs. Advances in surgical techniques and technologies have heightened the
effectiveness of PCL repair procedures, instilling confidence in both patients
and healthcare professionals. The ongoing research and development initiatives
aimed at improving surgical techniques and rehabilitation protocols further
underpin the growth of the PCL repair segment.
Based on end-use, the hospital sector stood out as the
primary revenue generator in the market in 2022, securing the largest share.
Hospitals have firmly established themselves as the dominant players in the
market's End-use segment, offering specialized medical services and advanced
surgical treatments for individuals with cruciate ligament injuries. This
supremacy of hospitals in the market can be ascribed to various pivotal
factors. Hospitals offer comprehensive healthcare facilities, encompassing
state-of-the-art operating rooms, advanced diagnostic imaging technologies, and
well-equipped rehabilitation centers, ensuring precise diagnoses, accurate
surgical procedures, and effective postoperative care. With a diverse cadre of
healthcare professionals, including orthopedic surgeons, sports medicine
experts, anesthesiologists, and physical therapists, hospitals provide
multidisciplinary care and holistic treatment plans.
Conversely, the segment of ambulatory surgical centers
(ASCs) is currently experiencing rapid expansion and is projected to witness
the most substantial CAGR between 2023 and 2030. The growth of this segment can
be attributed to its convenience, cost-effectiveness, specialized expertise,
and the technological advancements integrated into ASC operations. With the
escalating demand for outpatient surgical options, ASCs are poised to play a
significant role in addressing patient requirements and propelling market
growth.
Major companies operating in Global Cruciate
Ligament Repair Procedures Market are:
- Zimmer Biomet Holdings Inc
- Stryker Corp
- Smith & Nephew plc
- Arthrex Inc
- Boston Scientific Corporation
- B Braun SE
- athenahealth Inc
- Wright Medical Group NV
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“The Global Cruciate Ligament Repair Procedures Market
is experiencing a dynamic transformation, marked by advancements in surgical
techniques, the integration of innovative technologies, and a growing emphasis
on personalized care. These key trends promise to improve patient outcomes,
reduce healthcare costs, and provide more accessible and convenient healthcare
options. As these trends continue to shape the market, the future of cruciate
ligament repair procedures appears promising, with a focus on patient-centric,
efficient, and effective care,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Cruciate Ligament Repair Procedures Market By Procedure
Type (Anterior Cruciate Ligament (ACL) Repair, Posterior Cruciate Ligament
(PCL) Repair), By End-use (Hospitals, Ambulatory Surgical Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Cruciate Ligament Repair Procedures Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cruciate Ligament Repair Procedures Market.
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