Report : Middle East & Africa 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 3.8% CAGR, the MEA Soft Tissue Anchors Market is speculated to be worth US$ 38.59 million by 2028, says Business Market Insights              

According to Business Market Insights’ research, the MEA soft tissue anchors market was valued at US$ 41.20 million in 2022 and is expected to reach US$ 51.63 million by 2028, registering an annual growth rate of 3.8% from 2022 to 2028. Increase in R&D investments and product launches and high adoption of soft tissue anchors in emerging economies are the critical factors attributed to the market expansion.                

The soft tissue anchors market is characterized by the presence of many small and big companies. To increase their market share, companies are taking up various strategies, such as new product launches, regional expansion, R&D investments, and technological advancements. With continued innovation, technological advancements, and increasing R&D investments, soft tissue anchors are safer and more advanced, resulting in increased acceptance of soft tissue anchors. Leading players are investing in R&D to develop advanced technologies and gain more share.

A few of the recent developments related to the soft tissue anchors market are mentioned below:

•          In May 2022, Paragon 28, Inc. announced the expansion of its soft-tissue portfolio with the Grappler Suture Anchor System launch. The Grappler Suture Anchor System provides surgeons with an alternative fixation option to limit implant migration and loss of tension for intraoperative tissue reattachment and fixation in the foot and ankle.

•          In February 2021, In2Bones Global Inc. released its Hercules Suture Anchor System and AlloAid Wedges for lower extremity surgeries. It provides an opportunity for sales acceleration with soft tissue fixation for the multi-billion sports medicine market. The system gives surgeons two PEEK-based implant families, Fully Threaded and Knotless.

The active participation of market players in product innovation and development and the spurt in product approvals are likely to fuel the growth of the soft tissue anchors market in the coming years.  

On the contrary, high cost of surgeries and unfavorable reimbursement scenarios hurdles the growth of MEA soft tissue anchors market.    

Based on type, the MEA soft tissue anchors market is segmented into absorbable and non-absorbable. The absorbable segment held 62.0% market share in 2022, amassing US$ 25.53 million. It is projected to garner US$ 32.27 million by 2028 to expand at 4.0% CAGR during 2022–2028.  

Based on typing type, the MEA soft tissue anchors market is segmented into knotted & knotless. The knotless segment held 57.2% market share in 2022, amassing US$ 23.59 million. It is projected to garner US$ 30.05 million by 2028 to expand at 4.1% CAGR during 2022–2028.

Based on material, the MEA 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 37.3% market share in 2022, amassing US$ 15.36 million. It is projected to garner US$ 19.54 million by 2028 to expand at 4.1% CAGR during 2022–2028.

Based on end user, the MEA soft tissue anchors market is segmented into hospitals, clinics, emergency medical services, and others. The emergency medical services segment held 46.4% market share in 2022, amassing US$ 19.11 million. It is projected to garner US$ 24.74 million by 2028 to expand at 4.4% CAGR during 2022–2028

Based on country, the MEA soft tissue anchors market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. Our regional analysis states that South Africa captured 39.4% market share in 2022. It was assessed at US$ 16.24 million in 2022 and is likely to hit US$ 20.71 million by 2028, exhibiting a CAGR of 4.1% during the forecast period.   

Key players dominating the MEA soft tissue anchors market are Aju Pharm Co., Ltd.; Arthrex, Inc.; CONMED Corporation; 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 Feb 2022, Stryker has completed the acquisition of Vocera Communications, a leader in digital care coordination and communication. This acquisition provides significant opportunities to advance innovations.

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