Report : Europe Soft Tissue Anchors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Absorbable and Non-Absorbable), Tying Type (Knotted and Knotless), Material (Metallic Suture Anchor, Bio-Absorbable Suture Anchor, PEEK Suture Anchor, Bio-Composite Suture Anchor, and Others), and End User (Hospitals, Clinics, Emergency Medical Services, and Others)
At 4.8% CAGR, the Europe Soft Tissue Anchors Market is speculated to be worth US$ 253.98 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe soft tissue anchors market was valued at US$ 191.65 million in 2022 and is expected to reach US$ 253.98 million by 2028, registering an annual growth rate of 4.8% from 2022 to 2028. Significant rise in elderly and obese population and increasing sports injuries and orthopedic surgeries growth are the critical factors attributed to the market expansion.
With this, people's life expectancy in these countries has increased, leading to an expansion in the geriatric population. According to the data presented by the WHO, the population aged 60 years and above was 1 billion in 2019, which is expected to reach 1.4 billion by the end of 2030 and 2.1 by the end of 2050. Another report, published by Eurostat, states that Europe had the world's highest percentage (20.8%) of people aged more than 60 years in 2021. Thus, the increase in the geriatric population has increased the prevalence of various orthopedic conditions such as osteoarthritis, joint pain, joint replacement, and others that are expected to increase the demand for soft tissue anchors. On the other hand, obesity is also a major cause of orthopedic injuries, which are likely to increase the growth of the soft tissue anchors market as obese people are more prone to orthopedic conditions such as soft tissue damage, osteoarthritis, and others. Thus, the increase in the elderly and obese population across region has increased the orthopedic injuries and disorders, which creates the demand for soft tissue anchors and supports the growth of the soft tissue anchors market.
On the contrary, high cost of surgeries and unfavorable reimbursement scenarios hurdles the growth of Europe soft tissue anchors market.
Based on type, the Europe soft tissue anchors market is segmented into absorbable and non-absorbable. The absorbable segment held 67.8% market share in 2022, amassing US$ 130.01 million. It is projected to garner US$ 173.71 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on typing type, the Europe soft tissue anchors market is segmented into knotted & knotless. The knotless segment held 58.3% market share in 2022, amassing US$ 111.76 million. It is projected to garner US$ 150.49 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on material, the Europe soft tissue anchors market is segmented into metallic suture anchor, bioabsorbable suture anchor, PEEK suture anchor, bio-composite suture anchor, and others. The PEEK suture anchor segment held 36.1% market share in 2022, amassing US$ 69.14 million. It is projected to garner US$ 93.20 million by 2028 to expand at 5.1% CAGR during 2022–2028.
Based on end user, the Europe soft tissue anchors market is segmented into hospitals, clinics, emergency medical services, and others. The emergency medical services segment held 43.1% market share in 2022, amassing US$ 82.61 million. It is projected to garner US$ 113.03 million by 2028 to expand at 5.4% CAGR during 2022–2028
Based on country, the Europe soft tissue anchors market is segmented into France, UK, Germany, Italy, Spain, and Rest of Europe. Our regional analysis states that Germany captured 26.9% market share in 2022. It was assessed at US$ 51.52 million in 2022 and is likely to hit US$ 71.57 million by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Key players dominating the Europe soft tissue anchors market are Aju Pharm Co., Ltd.; Arthrex, Inc.; CONMED Corporation; Cook Medical LLC; DJO, LLC (Colfax Corporation); Johnson & Johnson Services, Inc. (DePuy Synthes); Medtronic; Smith & Nephew Plc.; Stryker Corporation; and Zimmer Biomet among others.
- In May 2022, Medtronic announced that it has completed the acquisition of Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care.
- In Jan 2021, Smith & Nephew announced acquisition of the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation for $ 240 million.
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