The size of the Latin America Collateral Ligament Stabilizer System market is estimated to grow USD 0.23 billion by 2027 from USD 0.17 billion in 2022, growing at a CAGR of 5.98% during the forecast period.
The rising number of injuries to the knee, shoulder, and ankle has fuelled demand for medical devices that can properly support these body parts. However, the severity of the damage may result in ligament tear, which requires the usage of a ligament stabilizer. Also, Rheumatoid arthritis and joint disorders, and sports injuries are the keys to uplifting the Latin American collateral ligament stabilizer system market during the forecast period. Further, due to the difficulties, surgeons have in performing curative operations, knee braces and supports for mending torn ligaments have increased. Knee Braces and Supports assist surgeons in overcoming the biological disadvantage of numerous ligament injuries by enabling efficient ligament reconstruction.
In addition, the rising incidences of musculoskeletal injuries and disorders among the geriatric population are expected to boost the market growth during the forecast period. Furthermore, various athletes use ligament stabilizers because their physical training requires high-intensity workouts, resulting in ligament and tissue sprains. As a result, the major market driver is the usage of stabilizers in sports. Furthermore, the rising number of cruciate ligament repair operations, spinal injuries, hand and wrist injuries, and other injuries are projected to drive the market significantly.
Moreover, the Leading medical device companies are competing in the regional market for ligament stabilizers and offering new product lines that consider evolving surgical factors. The anatomy of the body component and the biomechanics of the ligaments are studied extensively while designing active and passive stabilizers. These gadgets are being developed to obviate the need for surgery in the treatment of injuries. As a result, ligament stabilizers will continue to be in high demand as a critical component of knee reconstruction treatments.
However, the improper use of ligament stabilizers may cause more harm than benefits of its use to the patients, which could be a restraining factor for the healthcare sector. High costs connected with knee surgery and knee replacement are also a stumbling block to the market's demand. The coronavirus prompted a lockdown, and sportspeople were compelled to stay at home, minimize ligament injuries, and limit the market's growth.
This research report on the Latin American collateral ligament stabilizer system market has been segmented and sub-segmented into the following categories:
By Ligament Type:
By Injury Type:
By End Use:
By Country:
Geographically, this regional market is projected to grow at a stable rate over the next decade. Latin America is anticipated to record a promising share in the global collateral ligament stabilizer system market during the forecast period. The market growth projected to be fuelled by the adoption of knee braces and supports has been growing for repairing the damaged ligaments by surgeons due to challenges facing by surgeons in performing curative surgeries. Also, various companies in the region focus on organic growth strategies, including product approval, product launches, and others such as patients and events. Over the years, Acquisitions and partnerships, and collaborations have been seen as inorganic growth methods in the market in Latin America. Brazil and Mexico are the two emerging countries in the region that contribute significant market share and expand the Latin American regional market growth. The incidence of musculoskeletal disorders such as carpal tunnel syndrome is higher in these countries. Growing geriatric population, increasing healthcare expenditure, and increased sports injuries are the factors majorly contributing to market growth.
KEY MARKET PLAYERS:
Some of the major manufacturers of the CLSS market include DJO Global LLC, DePuy Synthes, Ossur, DeRoyal Industries, Bauerfeind, Seabourne Group, Arthrex, and Deroyal.
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