According to Stratistics MRC, the Soft Tissue Repair Market is accounted for $11.19 billion in 2015 and is projected to reach $17.96 billion by 2022 growing at a CAGR of 6.9% from 2015 to 2022. Growing geriatric population, obesity rate and rising demand for Soft Tissue regeneration and Soft Tissue repair procedures are some of the key factors favouring the market growth. Increasing participation in sports, increasing healthcare expenditure & lack of substitutes for Soft Tissue repair surgery are some of the major factors driving the market growth. However, lack of awareness, lack of reimbursement and high costs of surgical procedures are some of the restraints hampering the market.
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Asia Pacific is expected to grow at the highest CAGR in the next five years in the global Soft Tissue repair market, with China and India being the fastest-growing markets in the Asia Pacific region. North America dominates the global market for Soft Tissue repair due to the growing geriatric population and obesity rate and rising demand for Soft Tissue regeneration and Soft Tissue repair procedures in the region.
Some of the key players in this market include Arthrex, Inc., Covidien plc, Ethicon US, Johnson & Johnson, LifeNet Health, Inc., Organogenesis, Smith & Nephew plc, Stryker Corporation, Medtronic plc, American Medical Systems, Inc., C.R. Bard, Inc., Wright Medical Technology, Integra Lifesciences Corporation, LifeCell Corporation and LLC.
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