According to a new market research report by MarketsandMarkets, the artificial tendons and ligaments market for knee injuries, shoulder injuries, foot and ankle injuries, spine injuries, and hip injuries is expected to top $35 million by 2023.
The report cites an aging population and sports injuries as key factors in driving the growth, and a growing number of initiatives are underway to increase the awareness about artificial tendons and ligaments, increasing research activities on artificial tendons and ligaments, increasing preference for minimally invasive surgeries, the benefits of artificial tendons and ligaments, and the issues related to the use of orthobiologics.
Orthobiologics is a rapidly advancing and exciting field that uses cell-based therapies and biomaterials to promote healing. Orthobiologic therapies harness cells and proteins naturally found in human biology to support regrowth of musculoskeletal tissues, including cartilage, bone, tendons and ligaments and are already being implemented in many surgical procedures.
The advances in artificial tendons and ligaments is no small thing. According to a 2010 Millennium Research Group study, the U.S. market for orthopaedic devices included more than 400,000 shoulder tendon and ligament surgical repairs each year, more than 300,000 tendon and ligament surgical repairs for foot and ankle, and more than 100,000 ACL repairs.
Orthobiologics have evolved to the extent that they significantly influence orthopedic surgical practices, but experts warn a better understanding of the role of various growth factors and cells in the process of tendon healing, ligament repair, cartilage regeneration and bone formation is need.
Research, including clinical studies using orthobiologics like platelet rich plasma, stem cells, autologous conditioned serum etc. have shown variable results. Part of the problem is that there is no clear consensus over the best orthobiologic substance and the method of preparation and usage of those substances. Enter the Regenerative Orthobiologics Registry (ROR).
ROR is a stand-alone non-profit (501c3) founded in 2017 whose mission focuses on improving care for patients who receive regenerative biologic orthopedic treatments. By collecting and reporting data, it hopes to empower health care organizations to benchmark performance and make better decisions.
For anyone suffering from a sports injury, a booming artificial ligaments and tendons market that embraces orthobiologics is all good news. And for investors, the market for orthobiologics hasn’t yet matured and there is ample opportunity to invest in what is certain to be a growing and profitable market. Reign well.