Global Soft Tissue Allograft Market is expected to grow at high-rate due to rise in disposable income, growing awareness regarding allograft procedures, rising incidences of soft tissue injuries, and increasing aging populations. The Global Soft Tissue Allograft Market was valued at USD 3.6 Bn in 2020 and is expected to reach USD 5.5 Bn by 2027, with a growing CAGR of 6.4% during the forecast period (2017-2027).
The driving factors influencing the growth of global soft tissue allograft market include increase in tissue replacement procedures, aging populations, and rising demand for minimal invasive surgical procedures. Moreover, increase in accident rates, rising dental diseases, increase in consumption of alcohol and smoking that causes enamel decaying and increasing obese population fuels the growth of soft tissue allograft market.
In addition to this, increasing active participations in athletic activities, rising awareness regarding allografting and increasing application of soft tissue allograft in healthcare further leverage the growth of soft tissue allograft market.
Growing government support for research and development process, increasing interest of pharmaceutical and biopharmaceutical companies in allografts and rising healthcare expenditure uplifts the growth of soft tissue allograft market. On the contrary, lack of substitutes for tissue repair, poor reimbursement policies and prohibitive cost of treatment hinders the growth of soft tissue allograft market.
This soft tissue allograft market is broadly segmented into type, application, end user and region. Based on type, cartilage allograft segment held largest market share in 2020 and is expected to increase more during the forecast period. Based on application, orthopaedic segment accounted for the highest market share in 2020 and is expected to increase during the forecast period due to increasing rate of accidents.
Based on end user, hospital held maximum market share in 2020 due to availability of complete patient health monitoring at one place. Geographically, North America region dominated the soft tissue allograft market due to availability of large volume of aging patients and enormous presence of healthcare infrastructure.
The covid-19 outbreak has impacted the growth of soft tissue allograft market as there was restrictions on public mobility which impacted the demand for surgical and therapeutic procedures. Sudden covid-19 outbreak build pressure on healthcare centers and hospitals are providing services to covid infected patients. This factor impedes the growth of end user sector in soft tissue allograft market.
Global Soft Tissue Allograft Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America dominated the growth of soft tissue allograft market due to availability of huge healthcare infrastructure and presence of large volume of geriatric population. Moreover, availability of key market players in this region, increasing demand for orthopaedic soft tissue repair procedures and tissue regeneration further leverage the growth of soft tissue allograft market. In addition to this, increasing research in tissue regeneration and repair uplifts the growth of soft tissue allograft market.
However, Asia-Pacific is expected to witness the fastest market growth with the highest CAGR due to ongoing research on soft tissue repair and availability of technological advances that boost the growth of soft tissue allograft market.
The Global Soft Tissue Allograft Market Segmentation:
Global Soft Tissue Allograft Market by Type Outlook (Revenue, USD Million, 2021-2027)
Global Soft Tissue Allograft Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global Soft Tissue Allograft Market by End User Type Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the soft tissue allograft market are: