The global collateral ligament stabilizer system market is expected to grow at a CAGR of 7.22% from 2023 to 2028. The market size is estimated to be worth USD 2.61 billion by 2028 from USD 1.84 billion in 2023.
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 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.
The growing geriatric population worldwide 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 tears and trauma, etc. Furthermore, the rise in road accidents due to the increased number of 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 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:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
Segments Covered |
By Type, Production Technologies, Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Bayer HealthCare AG, Bioniche Animal Halth Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc. and Protein Sciences |
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:
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 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:
Based on the end-user, the orthopedic clinic segment dominated the global market in 2022. 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 boost the 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:
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 market expansion in Asian countries.
The Latin American CLSS market is estimated to grow at a healthy CAGR during the forecast period.
The CLSS market in the Middle East and Africa is forecasted to be growing at a sluggish growth rate in the coming years.
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:
Frequently Asked Questions
As per our research report, the global CLSS market size was valued at USD 1.72 billion in 2022 and is estimated to grow USD 2.43 billion by 2027.
The global clss market is estimated to grow at a CAGR of 7.22% from 2022 to 2027.
Based on the ligament type, the medical ligament type led the global clss market in 2021.
DJO Global LLC, DePuy Synthes, Ossur, DeRoyal Industries, Bauerfeind, Seabourne Group, Arthrex, and Deroyal are a few of the notale companies in the global clss market.
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