Award winning market research company Fact.MR’s ongoing study forecasts an optimistic outlook for knotless suture anchors market through 2021 and beyond. Increasing demand for minimally invasive surgeries and increased arthroscopic procedures among geriatric population is expected to improve the demand of knotless suture anchors market. As joint and shoulder deformities continue to increase in ageing population, healthcare providers are likely to augment spending on providing highly advanced medical devices such as suture anchors, widening growth prospects.
Manufacturers of knotless suture anchors are most likely to discover potential revenue pools across developed nations. A 2020 study estimates that geriatric population is anticipated to contribute around 16% of the world’s population in the upcoming decade, which is especially high in countries such as United States, UK and Germany. Also, advanced healthcare infrastructure and increased healthcare spending among the ageing population is quite high across Europe and North America.
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The global knotless suture anchors market will register a steady growth owing to general growth in the geriatric population worldwide. Preference for absorbable knotless suture anchors is likely to swell to avail a successful and more precise outcomes as compared to the non-absorbable knotless suture anchors. Furthermore, increasing number of trauma injuries on shoulders and joints is propelling the demand of knotless suture anchors. Also, manufacturers are implementing advanced technology to develop latest technology products which will drive the growth of knotless suture anchors market.
“With increasing cases of joint and shoulder deformities and growing demand for minimally invasive surgeries, prominent market players are scrambling to augment their existing research and development capacities in order to introduce new approaches, thus bolstering growth prospects,” remarks the Fact.MR analyst.
Key Takeaways from Fact.MR’s Knotless suture anchors Market Study
- By type, PEEK suture anchor is expected to acquire tremendous popularity through 2021
- Orthopedic centers & specialty clinics will emerge as the primary service providers for knotless suture anchors
- US is anticipated to witness increasing arthroscopic procedures leading the North America knotless suture anchors market
- Rising number of arthroscopic procedures are expected to widen growth opportunities across the UK and Germany
- Increased manufacturing of medical devices and trading of raw materials is expected to expand the China’s knotless suture anchors market
- Breakthroughs in arthroscopic surgery is anticipated to pilot the Indian knotless suture anchors market in forthcoming years
Prominent Drivers
- Expanding geriatric population base is compounding arthroscopic surgeries, paving way for knotless suture anchors
- Growing awareness about the suture anchor devices & increasing investment for the development of advanced suture anchor system is boosting the growth
- Technological developments in surgeries is accelerating demand for minimally invasive procedures in the knotless suture anchors domain
Key Restraints
- Apprehensions regarding surgical alteration of the tissue bones leading to complications is restricting knotless suture anchors penetration across certain regions
- Current awareness levels restricted to the developing nations and poor healthcare infrastructure are limiting uptake of knotless suture anchors approaches to certain regions
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Key Segments of Global Knotless Suture Anchors Market Covered in the Report
Based on physical form, the Global Knotless Suture Anchors Market has been segmented as
- Absorbable
- Non-absorbable
Based on the Suture Anchor type, the Global Knotless Suture Anchors Market has been segmented as
- Bio-absorbable Suture Anchor
- Metallic Suture Anchor
- Bio-composite Suture Anchor
- PEEK Suture Anchor
Based on the end-user, the Global Knotless Suture Anchors Market has been segmented as
- Hospitals
- Ambulatory Surgical Centers
- Orthopaedic centres
- Speciality Clinics.
- Others
Competitive Landscape
Key players such as
- ArthrexInc.
- DePuy Synthes (Johnson & Johnson)
- Smith & Nephew Plc.
- Wright Medical Group N.V.
- Medtronic Plc.
- Stryker Corporation
- ConMed Corporation
- Parcus Medical LLC
- Zimmer Biomet Holdings Inc.
- In2Bones Global Inc.
others are actively involved in offering knotless suture anchors for different applications.
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