Global Cruciate Ligament Repair Procedures Market Analysis & Forecast 2024-2034: Market Forecast to Surge to $28.95 Billion by 2034
DUBLIN, Feb. 12, 2024 /PRNewswire/ -- The "Global Cruciate Ligament Repair Procedures Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global cruciate ligament repair procedures market size was estimated to be USD 13.27 billion in 2023 and is expected to reach at USD 28.95 billion by 2034 with a CAGR of 7.35% during the forecast period 2024-2034. Increasing demand for minimally invasive procedures, rising incidence of sports-related injuries & knee injuries, growing geriatric population, surge in need for effective treatments, increasing research & development efforts in the fields of orthopedics & sports medicine are concentrated on enhancing the effectiveness & safety of cruciate ligament repair procedures, and rising technological advancements in cruciate ligament repair procedures are the factors contributing to the market expansion.
Rising technological advancements in cruciate ligament repair procedures is predicted to boost the market growth during the forecast period. Cruciate ligaments, also known as cruciform ligaments, serve a crucial role in providing support to the knee bones. When these ligaments are injured, cruciate ligament repair surgery involves using a surgical tissue graft to replace the damaged ligaments. As people age, the synovial fluid within the knee joint tends to decrease, leading to greater friction between the bones, ligaments, and cartilage.
This increased friction can result in conditions like arthritis and other complications, often necessitating knee replacement surgeries. Moreover, the ligaments connecting the bones become stiffer and less flexible with age. These factors collectively contribute to a growing demand for cruciate ligament repair procedures, particularly among the elderly population. As a result, the market for such procedures is expected to expand in response to the rising need for effective treatments among older individuals.
By procedure type, anterior cruciate ligament (ACL) repair was the highest revenue-grossing segment in the global cruciate ligament repair procedures market in 2023 owing to the growing prevalence of ACL injuries, constraints in the regenerative capability of anterior cruciate ligaments (ACLs) are attributed to intra-articular conditions, increasing physical activity & participation in sports like football, hockey, & basketball, and rising technological advancements.
Additionally, posterior cruciate ligament (PCL) repair is predicted to grow at fastest CAGR during the forecast period owing to the increasing awareness & diagnosis of posterior cruciate ligament (PCL) injuries are leading to a rising demand for PCL repair procedures, as medical knowledge & awareness continue to expand, surge in occurrence of vehicular accidents and injuries resulting from contact sports, growing research & development initiatives focused on improving surgical techniques and rehabilitation protocols, and rising advancements in surgical techniques have improved the effectiveness of PCL repair procedures.
By application, trauma was the highest revenue-grossing segment in the global cruciate ligament repair procedures market in 2023 owing to the rising incidences of injuries due to road & sports- related accidents and increasing approvals by regulatory bodies. For instance, in January 2023, The U.S. Food and Drug Administration (FDA) has granted clearance for the utilization of the ACL TightRope II implant, making it the first-ever device approved for reconstructing torn knee ligaments in children and adolescents. This technology is derived from a similar device typically used in adults undergoing anterior cruciate ligament (ACL) reconstruction, but it incorporates features specifically tailored to accommodate the developing skeletons of young athletes. Additionally, arthritis is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of osteoarthritis & rheumatoid arthritis and growing geriatric population.
By end-user, hospital was the highest revenue-grossing segment in the global cruciate ligament repair procedures market in 2023. Hospitals provide specialized medical services and advanced surgical interventions for individuals with cruciate ligament injuries. Hospitals offer comprehensive healthcare services, featuring state-of-the-art operating rooms, advanced imaging technologies, and fully equipped rehabilitation centers. This ensures precise diagnoses, accurate surgeries, and effective postoperative care for patients. Hospitals provide a diverse team of healthcare professionals, including orthopaedic surgeons, sports medicine specialists, anaesthesiologists, and physical therapists, enabling multidisciplinary care and comprehensive treatment plans.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in incidence of sports injuries, rising introduction of new products by major players, increasing preference for minimally invasive procedures, growing launch of new products, and surge in new advancements in cruciate ligament repair.
Additionally, the Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for ligament repair surgeries, growing geriatric population, surge in technological advancements, and increasing initiatives by leading market players. For instance, in May 2023, Arthrex, a prominent global player in minimally invasive orthopedic technology, has unveiled a patient-centered website called ACLTear.com. This website aims to explain the science behind anterior cruciate ligament (ACL) injuries, showcase the advantages of knee preservation technology, and offer resources to patients for connecting with surgeons who perform advanced, minimally invasive ACL procedures.
Segmentation: Cruciate Ligament Repair Procedures Market Report 2023 - 2034
Cruciate Ligament Repair Procedures Market Analysis & Forecast by Procedure Type
- Posterior Cruciate Ligament (PCL) Repair
- Anterior Cruciate Ligament (ACL) Repair
Cruciate Ligament Repair Procedures Market Analysis & Forecast by Application
Cruciate Ligament Repair Procedures Market Analysis & Forecast by End-user
- Ambulatory Surgery Centers
- Boston Scientific Corporation
- B. Braun SE
- Arthrex Inc.
- Zimmer Biomet
- athenahealth Inc.
- Wright Medical Group N.V.
For more information about this report visit https://www.researchandmarkets.com/r/o7csji
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