Soft Tissue Repair Market size is estimated to be valued at USD 10,783.2 million in 2021 and is poised to grow at a significant CAGR of 5.9% over 2022-2028. Soft tissue comprises muscles, ligaments, tendons, fibrous tissue, skin, synovial membranes, nerves, and other structures that protect organs that allow movement and support bones in the body. Injury to the soft tissues can cause significant pain and cause difficulty in bone mobility. If left untreated can lead to chronic pain. Long-term injuries can make it difficult for patients to work, interact, or move. The Tissue Patch/Matrix segment is anticipated to grow at a significant CAGR over the forecast years owing to the increased use of synthetic mesh across different types of orthopedic surgeries as they reduce surgical time. Moreover, market players are focusing on launching new products. For instance, In November, 2021, Sanara MedTech Inc, a provider of products and technologies for surgical and chronic wound care dedicated to improving patient outcomes, announced the commercial launch of two new innovative products from Cook Biotech Inc. The growth of the market is anticipated to factors such as the increasing aging population and obesity rate, growing incidence of sports injuries, and a strong focus on R&D leading to the launch of technologically advanced products.
Recent Market Developments:
In January 2021, Smith & Nephew, a British multinational medical equipment manufacturing company, acquired the Extremity Orthopedics business of Integra Life Sciences Holdings Corporation.
In December 2021, BD acquired Tissue med, Ltd. (UK). This acquisition complements BD’s core portfolio by adding a broadly applicable surgical sealant to a suite of BD biosurgery products already relied upon in the operating room.