Market Size of Cruciate Ligament Repair Procedures Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cruciate Ligament Repair Procedures Market Analysis
The cruciate ligament repair procedures market is expected to register a CAGR of 8.5% during the forecast period.
According to the WHO, the COVID-19 impact on sports medicine and sports surgery was negative. Moreover, as per the report published by the Orthopaedic Journal of Sports Medicine in November 2021, the discontinuation of unnecessary procedures during the pandemic led experts in arthroplasty and sports medicine to revamp and create cutting-edge methods for patient care and treatment choices. However, it is reasonable to anticipate an increase in the waiting list, which will widen the access gap for cruciate ligament repair procedures and eventually affect the market's growth rate in the upcoming years.
The factors driving the market include increasing demand for minimally invasive procedures and rising incidence of sports-related injuries. According to the NSC, in 2021 exercise equipment accounted for about 409,000 injuries in the United States, the most in any category of sports and recreation. The major injuries during exercise are ligament injuries for the knees and elbows. As cruciate ligament repair procedures are mostly performed in knee ligament injuries, thus, increasing incidences of knee injuries may propel the growth of the overall market.
Moreover, the increasing older population globally may raise the number of knee injuries that need ligament repair. For instance, as per WHO in October 2021 stated that by 2030, 1 in 6 people worldwide would be 60 years or older. The number of individuals 60 and older in the world will double to 2.1 billion by 2050. Between 2020 and 2050, the number of people 80 or older is projected to treble, reaching 426 million. Aging may impair knee health, increasing the likelihood of cruciate ligament damage and the need for treatment. Hence, growth in the geriatric population, thereby drives the demand for cruciate ligament repair procedures, in turn boosting the market's growth.
Furthermore, the new advancements in cruciate ligament repair helps the market to grow. For instance, in June 2022, HSS offers new implant for the treatment of anterior cruciate ligament (ACL) tears, which was approved by the United States FDA shifting focus from reconstruction to restoration.
However, the high cost of procedures may hamper the market to a certain extent over the forecast period.
