By 2027, the global collateral ligament stabilizer system market is expected to have grown to USD 2.43 billion by 2027 from USD 1.72 billion in 2022, at a CARG of 7.5%.
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The recent COVID-19 outbreak started in Wuhan (China) in December 2019 and has rapidly spread worldwide. The coronavirus disease of 2019 has the potential to harm the lungs, heart, and nervous system. However, there is a lack of research on COVID-19’s impact on sports injuries. As a result, the market’s growth is projected to be slowed by less usage of ligament stabilizers and the high cost of knee procedures. In addition, the sports injury sector was significantly impacted during the COVID-19 pandemic because of the postponement and cancellation of various sporting events, which resulted in a decrease in sports injuries. As a result, the market has negative growth during the pandemic.
The market for collateral ligament stabilizer systems is expanding due to increased sports injuries and a growing senior population. As knee ligaments weaken and become more prone to damage, the ever-increasing older population is expected to increase the prevalence of arthritis and joint problems. Over the forecast period, this factor is expected to fuel demand for these systems. In addition, people are becoming more interested in sports like football, baseball, athletics, and rugby, which has increased sports injury, particularly those who participate in direct contact sports, who are more prone to collateral ligament injury.
Rising technological advancements and the presence of favorable government reimbursement policies will provide further opportunities for the expansion of the collateral ligament stabilizer system market.
Soon, high costs connected with product usage would function as a market restraint for expanding the collateral ligament stabilizer system. In addition, the market’s growth is projected to be hampered by a lack of awareness about the usage of ligament stabilizers. Furthermore, a lack of sporting culture contributes to these countries’ sluggish growth in sports medicine.
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KEY MARKET INSIGHTS:
- Based on Ligament Type, During the forecast period, the Lateral Collateral Ligament (LCL) segment is predicted to increase at a stable rate. Because of their associated benefits, such as better comfort and favorable payment policies, LCL stabilizers are projected to see growing acceptance in homecare, sports, and emergency medicine. Over the projected period, these factors are expected to maintain demand for LCL stabilizers stable. Because the LCL is on the outside of the knee, it is more likely to be injured and induce knee instability. These devices are required to offer knee stability in a knee injury. This segment’s revenue is predicted to increase due to these causes.
- Based on Injury Type, The increase in the incidence of sports traumas with a partial ligament tear, which causes the ligament to lose, can be related to the dynamic growth of the grade 2 injury segment. The expansion of this market is due to an increase in the number of grade 2 injuries, which is likely to generate growth opportunities. Instead of knee surgeries, doctors advise patients to use knee supports and stabilizers. The market for grade 2 injury stabilizers is predicted to increase steadily due to these factors.
- Based on End-user, Because of the growing number of orthopedic clinics in developed nations, the end-user segment of the Collateral Ligament Stabilizer System market was dominated by them. A rise in the incidence of musculoskeletal disorders and other chronic conditions and an increase in the number of trauma accidents are significant reasons contributing to this segment’s highest share. In addition, the need for braces and supports is increasing due to a growth in the number of patients visiting orthopedic clinics to treat osteoarthritis, ankle arthritis, osteoporosis, cartilage rips, strains, and fractures.
- Because of prominent competitors and favorable government efforts related to pathological training programs, North America accounted for the largest revenue share in the anatomic pathology business in 2021. Furthermore, rising healthcare costs, favorable reimbursement circumstances for diagnostic tests, and government cancer screening activities in the region are all important drivers of the region’s growth. Furthermore, the increased prevalence of bone-related illnesses and injuries, particularly in the United States, promotes market growth.
- Medical Devices Business Services, Inc., Arthrex, Inc., Bauerfeind USA Inc., DJO Global, Inc., DeRoyal Industries, Inc., OSSUR, DARCO International, EXACTECH, Corin, GROUP FH ORTHO communication, Neoligaments, and other domestic and global players are among the major players in the collateral ligament stabilizer system market.
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