The medical devices known as soft tissue allografts serve as an essential replacement for ripped menisci, osteochondral defects that develop during knee surgery, and weak ligaments. After surgery, the soft tissue allografts aid in stabilizing the knee. Allograft-based soft tissue restoration requires less time in the operating room and causes less donor tissue site morbidity.
The market for soft tissue allografts in 2021 was USD 12.93 billion, and it will be worth USD 19.58 billion, growing at a 4.72% CAGR during the forecast period.
The main driver of the soft tissue allografts market growth is the rise in the rate of degenerative joint diseases and chronic illnesses like diabetes. The market is expanding due to technical developments and improved healthcare infrastructure. Market suppliers can take advantage of the market’s expanding potential with the aid of mergers and acquisitions.
Market Dynamics
Drivers
The prevalence of dental disorders and orthopaedic issues such as bone fracture and bone dislocation, as well as the expanding geriatric population and technological advancements in the allograft, are the main factors driving the global market for soft tissue allograft. Additionally, rising alcohol and tobacco use, expanding demand for tissue allograft treatments, and rising consumer awareness of soft tissue allograft all contribute to the market’s expansion.
Growing medical innovation, an increase in the need for soft tissue allografts among athletes, and a shift in pharmaceutical and biotech companies’ attention to soft tissue replacement methods all contribute to the market growth for soft tissue allografts.
Restraints
The financial costs of unintended injuries are enormous. The annual cost to employers and society is in the billions of dollars. According to the National Safety Council, the overall economic cost of preventable nonfatal and fatal injury-related incidents in 2020 was $1,158.4 billion, including expenditures from motor vehicle crashes (39%), home injuries (33%), work injuries (14%), and public injuries (14%). Furthermore, the medical costs associated with these injuries accounted for 20.4% of the total economic cost.
Opportunity
There is an immediate need to control blood loss and achieve efficient hemostasis and wound closure in injuries, trauma, or surgical operations. As per data from the Consumer Product Safety Commission, injuries in sports and recreation were predicted to total 2.7 million in 2020. The most injuries occur in contact and collision-based sports, including racing, exercise, basketball, football, and soccer.
Market Segmentation
By type, Collagen allografts significantly ruled the marketbecause vascular and orthopedic surgeons mostly use these tools to treat diabetic foot ulcers, carry out ACL procedures, and carry out other cosmetic surgeries.
By Application, The orthopedic segment ruled the entire market. Due to the increased elderly population, rising life expectancy, changing consumer attitudes toward minimally invasive medical procedures, and an increase in bone problems globally, the orthopedic segment maintained the biggest industry share.
The dentistry industry will develop at the quickest rate because more people are getting dental procedures. Furthermore, the market for soft tissue allografts is expanding because of increased rates of oral cancer, tooth decay, and population aging.
By end-user, Due to the worldwide growth in surgeries, the growing older population, and the increasing frequency of various diseases, the hospital segment commands the largest market share in the sector. According to the National Safety Council’s injury data (2020), over twice as many males (3.44 million) as females (1.83 million) were wounded in the United States, and 91% of all 5.27 million injury victims were treated in hospital emergency rooms and released.
Regional Insights
Due to the established and highly sophisticated healthcare system, as well as the greater adoption rate of highly sophisticated products and technology, North America holds the largest market share for soft tissue allografts, followed by Europe. Asia Pacific is currently leading the way in terms of the fastest-growing industry for soft tissue allografts. The growth of distribution channels by major businesses and the rise in demand for collagen allografts to treat severe burn injuries and breast reconstruction procedures are driving factors in the region.
Key Players
- Lattice Biologics Ltd.
- Alon Source
- MiMedix Group
- Zimmer Biomet
- Conmed Corporation
- Globus Medical, Inc.
- Organogenesis, Inc.
- AlloSource
- Osiris Therapeutics
- Integra Life Sciences Corporation
- Arthrex
- AlliquaBioMedical, Inc.
- RTI Surgical, Inc.
- Straumann Holding AG
- Bard, Inc. (Davol, Inc.)Braun Melsungen AG
- Xtant Medical
The market for soft tissue allografts in 2021 was USD 12.93 billion, and it will be worth USD 19.58 billion, growing at a 4.72% CAGR during the forecast period. The market is driven by a large number of patients with diabetes and anterior cruciate ligament (ACL) injuries. The primary drivers of the market for soft tissue allografts include compatibility, an increase in the prevalence of degenerative joint diseases, and a rising desire for high definition customized technologies.
