The global cruciate ligament repair procedure market is growing rapidly. Market growth attributes to rising cases of sports injuries, accidents, and trauma. Besides, the growing number of knee reconstruction surgeries, alongside the rising prevalence of rheumatoid arthritis and osteoarthritis in the elderly, drive the market growth. Also, the increasing demand for advanced treatment options and growing healthcare expenditure accelerate the growth of the market.
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Moreover, technological advances foster the market growth, improving devices, and techniques used for examination (diagnosis) and treatment of cruciate ligament accelerate escalate the market growth to further height. According to Market Research Future (MRFR), the global cruciate ligament diagnosis & treatment market is projected to grow at 6.4% CAGR over the forecast period (2018 – 2023).
The market appears well-established with several novel treatment and diagnosis procedures, which substantiates the market growth excellently. The introduction of nonsteroidal anti-inflammatory drugs, such as ibuprofen (Advil/Motrin), increases the market size. Strategically developed rehabilitation programs, influence market growth. Certainly, advances in medical technologies act as a key driving force for the growth of the market.
Conversely, prohibitive costs of diagnosis & treatment are key factors estimated to impede the market growth. Also, the lack of knowledge about the availability of effective treatment methods obstructs the growth of the market. However, increasing government initiatives and funding programs aimed to raise awareness about the advantages of these procedures would support market growth throughout the analyzed period. Furthermore, improving economic worldwide encourage market growth, enabling access to quality healthcare.
Cruciate Ligament Diagnosis & Treatment Market - Segments
The report is segmented into eight dynamics;
By Type : Posterior Cruciate Ligament (PCL), Anterior Cruciate Ligament (ACL), and others.
By Injury Type : Grade I, Grade II, and Grade III.
By Indication : Osteoarthritis, Rheumatoid arthritis, Trauma, and others.
By Product : Cemented implants, Cement-less implants, Partial implants, Revision implants, and others.
By Diagnosis : Imaging, Magnetic Resonance Imaging (MRI), Ultrasound, Laparoscopy, and others.
By Treatment : Surgery, Arthroscopy, Anterior Cruciate Ligament (ACL) reconstruction, and others (Therapies, Rehabilitation, Physical Therapies, Devices, Elastic Bandages, others).
By End-User : Hospitals, Orthopedic Clinics, Ambulatory Surgical Center (ASC), and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Cruciate Ligament Diagnosis & Treatment Market - Regional Analysis
North America dominates the global cruciate ligament diagnosis & treatment market. The largest market attributes to the strong presence of major industry players and advanced healthcare facilities. Besides, rising cases of sports injuries & accidents and increasing prevalence of osteoarthritis among the elderly drive the regional market growth. Moreover, well-developed surgical technology and high healthcare expenditure foster market growth in the region.
Europe stands second in the global cruciate ligament diagnosis & treatment market. Market growth attributes to the rising government support and funding for research & development of breakthrough treatment methods. Additionally, well-developed healthcare infrastructure, alongside rising healthcare expenditure, fuels the growth of the regional market. Recent developments and augmenting uptake of advanced technologies in the treatment of the condition push the market growth ahead.
The cruciate ligament diagnosis & treatment market in the Asia Pacific region is growing rapidly. Factors such as the growing per capita healthcare expenses and the rising demand for technologically advanced methods to treat the condition boost the market growth. Moreover, the increasing funding support for R&D by public & private sectors, influence the market growth. The APAC cruciate ligament diagnosis & treatment market is predicted to grow at an impressive CAGR during the forecast period.
Global Cruciate Ligament Diagnosis & Treatment Market - Competitive Analysis
Fiercely competitive, the cruciate ligament diagnosis & treatment market appears fragmented due to the presence of several well-established players. Trends such as innovation, mergers & acquisitions, collaboration, and launch of a new treatment method remain popular among key players.
Major Players:
Players leading the global cruciate ligament diagnosis & treatment market include Arthrex, Inc. (US), Stryker Corporation (US), Zimmer Biomet (US), CONMED Corporation (US), DePuy Synthes, Inc. (US), Smith & Nephew plc. (US), Breg, Inc. (US), DJO Global Inc. (US), Bauerfeind AG (Germany), BSN Medical GmbH (Germany), Össur hf. (Iceland), 3M Company (US), THUASNE SA (France), Otto Bock Healthcare GmbH (Germany), Medi GmbH & Co. KG (Germany), Corin Group (UK), DeRoyal Industries Inc. (US), United Orthopedic Corporation (Taiwan), Japan Medical Dynamic Marketing (Japan), Exactech Inc. (US), and Tornier Inc. (US), among others.
Industry/Innovations/Related News:
June 01, 2020 --- Athletico Physical Therapy (the US), a leading provider of high-quality orthopedic rehabilitation services, announced the expansion of its service center in Texas. Services available at Athletico’s new center include ACL 3P Program for recovery of anterior cruciate ligament (ACL) tears sideline mostly occurring in athletes. Each year more than 200,000 athletes suffer ACL injuries.
ACL 3P clinicians help athletes to progress through rehabilitation to perform at their highest level and minimize the risk of these injuries. COVID-19 Recovery & Rehabilitation is another key program through which Athletico offers treatment for patients recovering from COVID-19, helping them through the physical and emotional challenges that can occur from the virus.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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