Market Trends of Soft Tissue Allografts Industry
Orthopedic Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The orthopedics segment is likely to grow significantly during the forecast period. The high prevalence of orthopedic soft tissue damage is the major growth factor for the orthopedic segment. The tissues present primarily in the elbow, wrist, finger, thigh, and other body parts where tendons are present. This is the most common type of orthopedic soft tissue rupture that needs attention. Thus, such tissues require more orthopedic surgical treatments due to injuries. Therefore, such factors are expected to increase segment growth over the forecast period.
For instance, as per the 2021 update of the American Joint Replacement Registry (AJRR), around 105,743 hip arthroplasty procedures for femoral neck fractures were performed in 2020 in the United States. The increasing numbers of orthopedic procedures primarily contribute to soft tissue allograft procedures, which is expected to drive segment growth during the forecast period.
Furthermore, the injuries caused by accidents affect the soft tissues in various parts of the body. Hence, the high burden of accident casualties drives the market to grow. For instance, according to the data published by the Government of the United Kingdom, in May 2022, it has been observed that about 27,300 seriously injured (KSI) casualties were reported in Great Britain in 2021. In addition, as per the 2022 data published by the Brake Organization, about 26,701 people (25,892 in Britain and 809 in Northern Ireland) were seriously injured in the United Kingdom in 2021. These factors are expected to propel the segment's growth during the forecast period.
Additionally, the completion of successful surgeries using orthopedic allografts by market players is expected to boost the segment's demand during the forecast period. For instance, in December 2022, Umbra Applied Technologies Group, Inc conducted successful surgeries using the Ossifix Orthopedics allograft bone pin system.
Therefore, owing to the aforesaid factors, the segment is expected to witness growth during the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share owing to factors such as the high incidence of sports injuries, product launches, and approvals along with the high concentration of market players in the region.
According to the 2022 Annual Report published by the Arizona Department of Health Services, State Trauma Advisory Board in 2022, the top mechanisms of injury for trauma cases in Arizona, Unites States in 2021 were 30,788 falls, 12,247 motor vehicle traffic (MVT)-occupant, 3,942 struck by/against, 2,897 motor vehicle non-traffic, 2,198 cut/pierce, and 2,105 firearms. There were also 7,069 pediatric traumatic injuries in Arizona, United States in 2022, and the top mechanisms of traumatic injury for children ages 0-17 years included falls, MVT-occupant, motor vehicle non-traffic, and struck by/against.
Furthermore, the company activities such as conferences for creating awareness regarding available allograft products are expected to propel the market growth. For instance, in January 2021, ProChondrix CR allograft developed by AlloSource was featured in a presentation by Dr. David Argo at the British Patellofemoral Society Meeting. During the session, Dr. Argo highlighted his experience repairing osteochondral defects of the knee with AlloSource's allograft in Ohio. Therefore, such events are expected to propel the demand for allografts among orthopedic physicians, thereby propelling market growth during the forecast period.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
