As cited by the research report titled ‘Global Artificial Tendon and Ligament Market Size study, by Application (Knee Injuries, Shoulder Injuries, Foot and Ankle Injuries, Others), by End-Use (Hospitals & Clinics, Ambulatory Surgical Centers (ASCs)) and Regional Forecasts 2020-2027’, available with Market Study Report, global artificial tendon and ligament market was worth USD 21 million in 2019 and is projected to grow with a CAGR of 11% over 2020-2027 to be appraised at USD 48 million by the end of study duration.
 

Rising occurrences of sport-related injuries, evolving research & development in med-tech, along with increasing preference for surgical procedures that are less invasive are the factors driving the global artificial tendon and ligament market growth.
 

According to Johns Hopkins Medicine, approximately 30 million children and teenagers in the United States participate in some sports activities and more than 3.5 million injuries are registered annually, thereby fostering the demand for artificial tendon and ligament. 
 

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For those unaware, artificial tendons and ligaments are supporting components made of polymers, and are used to restore a torn ligament in a short time. They belong to a group of complex connective tissues that are important for the appropriate functioning of the musculoskeletal system of the body.
 

However, high costs associated with medical procedures, along with unfavorable scenario for reimbusemetns are poised to hinder the industry growth over the analysis timeframe.
 

The application range of global artificial tendon and ligament industry space includes knee injuries, foot & ankle injuries, and shoulder injuries among others. The end user spectrum of the marketplace is segmented into hospitals & clinics, and ambulatory surgical centers.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are major revenue generators for worldwide artificial tendon and ligament market. Of these, Europe is projected to be a major growth hub for the market over 2020-2027, owing to increasing government initiatives to provide assistance for sports injuries, coupled with presence of business giants in the region.
 

Whereas, Asia Pacific market is likely to showcase remunerative growth over the forecast period, on account of rising occurrences of sport-related injuries, in consort with increasing investments on research & development of artificial tendons and ligaments in developing countries like India and China.
 

Key players in global artificial tendon and ligament industry include Xiros Ltd., Lars Medicare Pvt. Ltd., Artelon, Mathys Ltd Bettlach, Shanghai Pine & Power Biotech Co. Ltd., FX Solutions LLC, Orthomed S.A.S., Cousin Biotech, and Corin Group.