Collateral Ligament Stabilizer System Market

Collateral Ligament Stabilizer System Market Size (2022 to 2027)

The global collateral ligament stabilizer system market is expected to grow at a CAGR of 7.22% from 2022 to 2027. The market size is estimated to be worth USD 2.43 billion by 2027 from USD 1.72 billion in 2022.

MARKET DRIVERS:

Increased road accidents, sports injuries, participation in sports such as baseball, football, rugby, and others, and rising demand for knee braces and pain management support are expected to boost the collateral ligament stabilizer device market growth.

The global demand for collateral ligament stabilizer systems is being driven by an increase in the prevalence of orthopedic diseases such as knee arthritis and an increasing population with low calcium density in the knee bone, which causes fractures. According to the World Health Organization, road accidents injure or disable nearly 10.5 million people annually. Due to their large geriatric populations, North America and Europe are projected to be the main markets. Furthermore, musculoskeletal disorders such as carpal tunnel syndrome are more common. The growing awareness among patients of the benefits of using a collateral ligament stabilizer device would aid in market development.

Concerns about chronic disorders among the elderly population drive high-end demand for collateral ligament stabilizer systems, which is expected to continue to rise in the coming years. Over the forecast period, key market players are expected to continue their R&D efforts to produce innovative products, fueling the market growth. Furthermore, market growth is expected to be driven by increased sports-related injuries. Muscle sprains, strains, ligament tears, trauma, dislocated joints, and broken bones are common sports injuries. Furthermore, increasing technological advancements and the prevalence of favorable government reimbursement policies would provide additional opportunities for the collateral ligament stabilizer systems market.

Y-O-Y increase in the geriatric population is also fuelling the global collateral ligament stabilizer system market growth.

According to world figures, the elderly population will also increase during the forecast period, resulting in increased arthritis and joint disorders, further boosting the market. In addition, a rise in sport-related traumas is anticipated to drive industry growth. The significant injuries related to sports are muscle sprains and strains, ligament tear and trauma, etc. Furthermore, the rise in road accidents due to increased vehicles also contributes positively to the market.

MARKET RESTRAINTS:

High costs associated with product use will act as a market restriction for the collateral ligament stabilizer system's development. High costs associated with knee surgery and knee replacement are also restraints hampering the market's growth. The coronavirus forced a lockdown, and the athletes stayed at home, reducing the number of ligament injuries and slowing the market's development. The market's primary challenge is offering high-quality healthcare care to injured patients. In addition, the growth in population and the number of ligament injuries have created a supply and demand gap in facilities, increasing these procedures' costs. In this market, lowering the cost of ligament stabilizers is also a significant challenge.

COVID-19 impact on the global collateral ligament stabilizer system market:

COVID-19 has negatively impacted the market and will negatively impact the market until there are restrictions on movement. The coronavirus resulted in a lockdown, and the sports players were also in their residences, reducing the cases of ligament injuries and hampering the market's growth. The COVID 19 lockdown also resulted in less movement of vehicles on the road, reducing road accidents and hindering market development. COVID 19 has also reduced the availability of good healthcare services as medical professionals aim to minimize this virus's spread. Thus, they respond only to emergencies.

REPORT COVERAGE:

This research report on the global collateral ligament stabilizer system market has been segmented and sub-segmented into the following categories.

Collateral Ligament Stabilizer System Market – By Ligament Type:

• Medial Collateral Ligament (MCL) 
• Lateral Collateral Ligament (LCL)    

The medial collateral ligament segment had the highest revenue share in the past year and is expected to grow fast during the forecast period. The presence of global market players in this segment has led to the development of new products and increased demand for these products in developing regions, thus positively impacting the market growth. In addition, the major causes of medical collateral ligament impairment occur in athletes' cases. Thus, increasing the popularity of sports will contribute to market growth.

 The Lateral Collateral Ligament segment is expected to grow steadily during the forecast period. The demand for these stabilizers will increase due to increased homecare adoption, sports, and emergency medicine due to their associated benefits. These benefits are like better reimbursement policies. In addition, LCL injuries provide instability to the knee, and these stabilizers help them attain stability.

Collateral Ligament Stabilizer System Market – By Injury Type:

• Grade 1 Injury       
• Grade 2 Injury       
• Grade 3 Injury       

Grade 3 injuries dominated the world market, and the growth was steady during the forecast period. Grade 3 injuries involve complete rupture of a muscle or tendon, and the treatment of these injuries can be done through a Collateral ligament stabilizer system.

The grade 2 injuries segment is expected to increase significantly during the forecast period. The main reason for grade 2 injuries can be sports-related activities wherein a partial ligament tear makes the ligament lose. As a result, medical practitioners recommend stabilizers instead of knee surgeries, accelerating market growth.

Grade 1 injuries have a low market share as most grade 1 injuries go undetected, so people do not use ligament stabilizers that much.

Collateral Ligament Stabilizer System Market – By End Use:

• Hospitals  
• Orthopedic Clinics

Based on the end-user, the orthopedic clinics' segment dominated the global market in 2021. The growth rate is expected to increase during the forecast period, mainly due to the establishment of many clinics all over. In addition, an increase in the prevalence of musculoskeletal diseases & other chronic diseases and a rising number of trauma accidents has also helped increase market growth.

The hospital segment is going to increase at a steady rate during the forecast period. The increasing quality of orthopedic specialists in hospitals and an increase in injuries will help drive market growth.

Collateral Ligament Stabilizer System Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

The North American CLSS market is currently dominating the global market due to the favorable reimbursement policies and high frequency of knee injuries in sports and accidents. The rising incidence of sports injuries in this region significantly contributes to growth. In addition, the improvement in healthcare facilities in this region has helped positively impact the market.

The European CLSS market is expected to grow steadily, mainly due to rising ligament injuries and the quality of healthcare services being provided in the region.

The Asia Pacific CLSS market is expected to register the highest growth rate among other areas. The main factor responsible for this growth is the high percentage of the senior population. An increase in the prevalence of chronic conditions and a rise in the number of accidents & trauma cases will further accelerate market growth. In addition, this region's growing Research and Development will positively impact the market. The augmentation of the elderly populace is a key factor that drives the market expansion in Asian countries.

The Latin American CLSS market is estimated to be USD 170 million in 2022.

The CLSS market in the Middle East and Africa is forecasted to be growing at a CAGR of 5.98% from 2022 to 2027.

KEY MARKET PLAYERS:

Companies playing a leading role in the global collateral ligament stabilizer system market profiled in this report are DJO Global LLC, DePuy Synthes, Ossur, DeRoyal Industries, Bauerfeind, Seabourne Group, Arthrex, and Deroyal.

RECENT MARKET HAPPENINGS:

• Global Orthopaedic Technology Pty Ltd., an orthopedic implant designer, and manufacturer, was acquired by Corin Group, a multinational orthopedic corporation, in 2018. Corin's presence in the hip and knee joint replacement market will be strengthened due to this acquisition.
• Mercy Medical Center unveiled O-arm, a forum for multi-dimensional surgical imaging for various procedures, in July 2019. It shows the patient's anatomy in real-time and reduces radiation exposure. Such multidimensional surgical imaging systems will aid orthopedic surgeons in better understanding soft tissue repair procedures.
• DeRoyal Industries, Inc. signed a collaboration agreement with Seabourne Group, Ltd., a third-party logistics company (3PL), in August 2013 to use Seabourne's warehouse in the Netherlands to boost their supply chain extend their distribution network.