TORONTO--()--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States orthopedic soft tissue solutions market will grow considerably through 2016, to nearly $2.0 billion, driven largely by a growing number of sports-related injuries. Positive clinical results will continue to spur interest in innovative devices, which will provide significant revenue growth.
“Numerous manufacturers, including market leaders Arthrex and Smith & Nephew, have developed biocomposite suture anchor products for use in the shoulder that will continue to take market share from polymer and metal suture products”
Clinical trial results have a particularly strong effect on product adoption, as competitors develop specialized devices for specific types of patients and anatomic locations in search of a competitive advantage. The shoulder fixation market, while representing the largest share of revenues, is relatively stable and mature, so competitors, including small manufacturers, have shifted their efforts to more lucrative device segments, including knee cartilage repair and meniscus repair.
Numerous orthopedic soft tissue solution clinical trials have been recently completed or are currently underway, and will affect uptake of innovative devices. A key area of innovation and focus for manufacturers is intraoperative functionality for surgeons. A good example is hybrid devices for meniscus repair. Such devices have proven to be more effective when performing the all-inside technique for meniscus repair, leading to substantial growth and adoption of hybrid devices, with a corresponding drop in sales for resorbable tacks. In the shoulder-fixation market, suture anchors have been a particular area of innovation. Recent clinical evidence supporting polyetheretherketone (PEEK) and biocomposite anchors have allowed manufacturers to show growth with these products.
“Numerous manufacturers, including market leaders Arthrex and Smith & Nephew, have developed biocomposite suture anchor products for use in the shoulder that will continue to take market share from polymer and metal suture products,” said MRG Analyst Kyle Verleyen. “Another area of innovation can be found in recently introduced all-suture anchors. Their small size and minimal use of material are leading them to be favored by surgeons who perform rotator cuff and glenohumeral instability repairs.”
Millennium Research Group’s US Markets for Orthopedic Soft Tissue Solutions 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape in the shoulder fixation, knee ligament reconstruction, knee cartilage repair, meniscus repair and rotator cuff reinforcement graft markets in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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