Soft Tissue Anchors Market to Hit US$ 912.27 million by 2028
Absorbable Segment to Hold Largest Share of Soft Tissue Anchors Market During 2022–2028
NEW YORK, UNITED STATES, December 1, 2022 /EINPresswire.com/ -- Soft tissue anchors are soft tissue fixation devices generally used in orthopedic surgeries. Orthopedic bone fractures and injuries can be caused due to various reasons such as acute trauma, sports, and heavy physical activities. Sutures, anchors, interference screws are various fixation devices that are used for soft tissue fixation. Dislocation of the shoulder is a common occurrence among athletes, and the Arthroscopic Bankart Repair method using soft tissue anchors is the most preferred method for treating shoulder dislocation. Key factors that are driving growth of the market are increasing in sports injuries and orthopedic surgeries along with significant increase in elderly & obese population. However, the high cost of surgeries and unfavorable reimbursement scenario hamper the market growth.
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The soft tissue anchors market is majorly comprised of top players involving Smith & Nephew Plc.; CONMED Corporation; Johnson & Johnson Services, Inc. (DePuy Synthes); Zimmer Biomet; Arthrex, Inc.; Stryker Corporation; Medtronic; Cook Medical LLC; Aju Pharm Co.,Ltd.; and DJO, LLC (Colfax Corporation) among others.
The soft tissue anchors market is expected to grow from US$ 677.68 million in 2022 to US$ 912.27 million by 2028; it is expected to register a CAGR of 5.1% from 2022 to 2028.
The companies listed above are implementing various strategies that have resulted in the growth of the company and in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their soft tissue anchors market position.
Below is the list of the growth strategies done by the players operating in the soft tissue anchors market:
In May-2022, Cook Medical's Winston-Salem manufacturing site stated on May 2, 2022, that it has obtained IS0 14001 accreditation, the global standard for environmental management system standards. This standard will help company to reduce carbon footprint and implement processes that will aim to help reduce wastes.
In May-2022, Medtronic announced that it has completed the acquisition of Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care.
In May-2022, Conmed announced a definitive agreement to acquire privately-held In2Bones Global, Inc. (In2Bones), on a cash-free, debt-free basis, for cash consideration of $145 million at closing and up to an additional $110 million in growth-based earn out payments over a four-year period. The transaction is not subject to a financing condition. The transaction is subject to customary closing conditions, including receipt of U.S. regulatory approval, and is expected to close late in the second quarter or early in the third quarter of 2022.
In Feb-2022, Stryker has completed the acquisition of Vocera Communications, a leader in digital care coordination and communication. This acquisition provides significant opportunities to advance innovations.
In Feb-2022, Johnson & Johnson Medical Devices companies announced that DePuy Synthes Acquires CrossRoads Extremity Systems to Further Strengthen Elective Foot & Ankle Portfolio.
In Jan-2022, In January 2022, Smith+Nephew announced the acquisition of Engage Surgical, owner of the only cement-less unicompartmental (partial) knee system commercially available in the US.
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