AI-powered computer algorithms (rather sophisticated algorithms), better known as chatbots, are capable of engaging in meaningful conversations (human-like) through option-based, text-based, or voice-based input. The fundamental advantage of these chatbots would be smooth flow on the patient’s side, even though the medical staff is temporarily out of reach (due to factors such as operational pauses, disaster-related call congestion, etc.). This would result in shortening the US FDA’s hours-long drug approvals process. This would prevent the functioning of the market for rotator cuff repair devices be in the next 10 years.
Rotator cuff repair devices are used to reattach the tear in the tissue that connects the muscle to the bone in the shoulder. Approximately 250,000 rotator cuff repairs are performed annually in the United States. The risk of rotator cuff injury increases with age because tendons and muscles weaken and degenerate as we age.
People who play sports, especially tennis, cricket, baseball, etc., are also prone to rotator cuff tears. Rotator cuff repair devices are used for minimally invasive sutures, depending on the tear size, the anatomy of the person’s shoulder, age, and the surgical approach to treatment.
Some rotator cuff tear patients are prescribed with medication and do not have to undergo any surgical procedure for treatment. However, some patients may need to undergo surgery using rotator cuff repair devices if medication doesn’t heal the tear.
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Globally, the number of people aged 80 and over is expected to triple by 2050, from 137 million in 2017 to 425 million in 2050. The growing geriatric population is expected to Rotator Cuff Repair Equipment Market will drive during the forecast period. Additionally, the increasing number of rotator cuff tears is expected to fuel the rotator cuff repair device market.
The growing demand for minimally invasive surgery over the projected years is expected to result in greater demand for minimally invasive rotator cuff repair devices. An increasing number of traffic accidents leads to an even greater demand for rotator cuff repair devices in the market.
The leading players like Arthrex, Inc., Stryker Corporation and Johnson and Johnson are entering untapped and emerging regions to expand their businesses and grab maximum market share in terms of revenue during the forecast period.
The number of unsuccessful rotator cuff repair device surgeries is expected to inhibit the growth of the rotator cuff repair devices market. Furthermore, the expensive nature of the rotator cuff repair devices might limit the rapid growth of the rotator cuff repair devices market in low- and middle-income countries during the forecast period.
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Based on product type, the global rotator cuff repair devices market is segmented into:
- Suture anchor based
- anchor free
Based on usage, the global Rotator Cuff Repair Devices market is segmented into the following:
- reusable
- road yard
Based on end users, the global rotator cuff repair devices market is segmented into:
- hospitals
- outpatient centers
The global rotator cuff repair devices market is expected to register moderate growth during the forecast period. On the basis of product type, the anchorless rotator cuff repair devices are expected to grow at a high CAGR over the forecast period due to the minimal invasion achieved by the product type. It is estimated that the disposable rotator cuff repair devices generate a large revenue share in the rotator cuff repair devices market.
The hospitals segment is predicted to represent a high additional opportunity among the end users during the forecast period. It is estimated that outpatient centers are growing at a high CAGR as the number of outpatient surgical centers that use rotator cuff repair devices to perform rotator cuff repair surgeries increases.
Due to higher healthcare spending, the availability of specialized surgeons, and an increasing number of manufacturers entering the rotator cuff repair device market, North America is expected to be the most dominant.
Japan and countries in Europe such as Germany, Italy and the United Kingdom are expected to contribute a large share of the rotator cuff repair devices market during the forecast period due to the increasing geriatric populations in the countries.
Africa has the highest percentage of young citizens, making MEA the least lucrative region for expanding the rotator cuff repair device market. Additionally, lower healthcare spending and lower demand for rotator cuff repair equipment will contribute to the lower additional opportunities in the region over the projected years.
East Asia and South Asia rotator cuff repair devices markets are expected to grow at a high CAGR during the forecast period owing to the increasing number of regional players and growing demand for rotator cuff repair devices in the region.
Some of the major players in the rotator cuff repair device market are MinInvasive Ltd, NCS Lab Srl, Arthrex, Inc., Stryker Corporation, Johnson & Johnson, CONMED Corporation, Globus Medical Inc., Orthofix International NV, Zimmer Biomet und KARL STORZ GmbH & Co. KG.
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The report includes a comprehensive analysis on:
- Market Segments for Rotator Cuff Repair Devices
- Market Dynamics for Rotator Cuff Repair Devices
- Historical Actual Market Size, 2013-2017
- Rotator Cuff Repair Devices Market Size and Forecast 2018 to 2028
- Rotator Cuff Repair Devices Market Current Trends/Issues/Challenges
- Competition and companies involved
- Rotator Cuff Repair Devices Market Drivers and Restraints
Regional Analysis:
- North America
- Latin America
- Europa
- East Asia
- South Asia
- Middle East & Africa
- Oceania
Report Highlights:
- Changing industry dynamics
- Detailed market segmentation
- Historical, current and forecast industry size, current industry trends
- Important competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions with promising growth
- A neutral perspective on market performance
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