According to research report Artificial Ligaments Market
is expected to reach USD 35.0 million by 2023 from USD 18.5 million in
2018, at a CAGR of 13.6% during the forecast period (2018-2023).
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The
key factors driving the growth of this artificial tendons market
include increasing incidence of sports injuries, growing number of
initiatives to increase the awareness about artificial tendons and
ligaments, increasing research activities on artificial tendons and
ligaments, increasing preference for minimally invasive surgeries,
benefits of artificial tendons and ligaments, and the issues related to
the use of orthobiologics.
The key players in the global
artificial ligaments market are LARS (France), Neoligaments (UK), Cousin
Biotech (France), Orthomed S.A.S. (France), FX Solutions (France),
Shanghai PINE&POWER Biotech (China), and Mathys AG Bettlach
(Switzerland).
Knee injuries to account for the largest share of the artificial tendons market in 2018
The
artificial tendons and ligaments market is segmented on the basis of
application into knee injuries, shoulder injuries, foot and ankle
injuries, and other injuries (spine and hip injuries).
In 2018,
the knee injuries segment is expected to register the largest share of
the global artificial tendons market and is estimated to grow at the
highest CAGR during the forecast period. This can be attributed to the
increasing public participation in sports and athletic activities,
increasing awareness, and the benefits of artificial tendons and
ligaments.
Europe is projected to account for the largest share
of the artificial tendons and ligaments market, followed by Asia
Pacific. The market for artificial tendons and ligaments in this region
is driven by the increasing number of government initiatives to
encourage sports; increasing number conferences, meetings, symposia, and
workshops to showcase the latest sports technologies in the UK;
increasing cases of sports-related injuries; rising cases of knee
replacements; minimal out-of-pocket expenditure for medical devices;
increasing number of agreements between organizations, universities, and
companies in Germany; increasing aging population; and growing
initiatives to increase awareness about artificial tendons and ligaments
in France.
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