Latin America: A lucrative market for soft tissue repair devices
According to a report published by ReportsnReports, the global soft tissue repair market is anticipated to report revenue of USD 14.7 billion in 2019 by growing at a CAGR of 7.5%. Rising markets such as Latin America and Asia-Pacific are expected to report better growth as compared to the developed markets of North America and Europe. Brazil, China and India will be the growth centers for the market due to the increasing public and private investments in healthcare, a large population base and major market players targeting business opportunities. The factors contributing towards the growth of the market include evolution of innovative products based on advanced technology, rising cases of soft tissue injuries in geriatric population, enhanced participation in sport activities and elevated obesity rate. However, the factors such as ambivalence in reimbursement and increasing cost of surgical procedures, which can impede the growth path, also co-exist. The report has segmented the market into tissue patches/meshes, soft tissue fixation devices, and laparoscopic instruments on the basis of products and into hernia repair, dural repair, vaginal sling procedures, skin repair, orthopedic soft tissue repair, dental soft tissue repair, and breast reconstruction repair on the basis of applications. Major players of the market include LifeCell Corporation, Organogenesis, C.R. Bard, Johnson & Johnson, Covidien, Arthrex, Smith & Nephew, Integra Lifesciences Corporation, Wright Medical Technology and Stryker Corporation.
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