Industry Trend Analysis
The global Collateral Ligament Stabilizer System Market was worth USD 1.18 billion in 2014 and is expected to reach approximately USD 2.09 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.53% during the forecast period. Increasing aged populace is foreseen to bolster the requirement for Collateral Ligament Stabilizer Systems (CLSS) in the following years. According to a report distributed by the United States Registration Bureau, the quantity of individuals aged 65 and older in the United States was roughly 46.2 million in 2014 and is anticipated to reach more than 98 million by 2060. Furthermore, rising number of road accidents is likewise known as one of the highest impact rendering elements, which boost the requirement for CLSS.
Ligament Outlook and Trend Analysis
The Medial Collateral Ligament (MCL) section represented around 58.00% of the market in 2016. Existence of prominent market players engaged with the advancement of new items and expanded interest for these products in emerging districts, for example, Latin America and Asia Pacific, are a portion of the elements in charge of the development of this segment. The Lateral Collateral Ligament (LCL) section is anticipated to develop at a relentless rate amid the conjecture time frame. The interest for LCL stabilizers is foreseen to grow because of their expanded usage in games, home care, and emergency medication inferable from their related advantages, for example, more prominent solace and positive reimbursement schemes. These variables are expected to keep the interest for LCL stabilizers consistent over the figure time frame.
Injury Type Outlook and Trend Analysis
The grade 3 injury section held the biggest offer in 2016.Treatment of grade 3 injuries includes surgical mediations and serious tears may require supplanting the MCL or LCL. The dynamic development of the grade 2 injury portion can be credited to the expansion in number of games injury, wherein there is a fractional ligament tear, due to which the ligament becomes loose. Rising incidences of grade 2 injury is in charge of the development of this segment. In grade 1 injury, the ligament is marginally extended. They don't require surgical mediation and can be dealt with viably with moderate therapies. Most frequently grade 1 injuries go unreported as they recuperate rapidly, for the most part in a period of half a month.
End user Outlook and Trend Analysis
On the basis of end user the market is segmented into Hospitals and Orthopedic Clinics. Hospitals represented a significant share of the CLSS business. Hospitals give an expansive exhibit of treatment choices relating to different injuries. Orthopedic Clinics commanded the end-use fragment of the CLSS industry attributable to the expanding foundation of orthopedic centers in created districts, for example, North America and Europe.
Regional Outlook and Trend Analysis
In 2016 North America held the leading share of the CLSS showcase and was esteemed at USD 565 million. This development can be ascribed to rising occurrence of sport injuries in the region. The ascent in the quantity of patients affected by these wounds is expanding the interest for CLSS, in this way boosting the development of this region. Asia Pacific is expected to develop at an exponential growth rate because of the high level of aged populace, which demonstrates a generous financial weight in this area. As indicated by The World Bank, the populace in Asia Pacific is ageing quickly.
The lading players in the market are Össur, DeRoyal, DePuy Synthes Companies, Bauerfeind and DJO Global. The competition in the market has brought about enhancements in current product lines and growth of latest products, thereby rendering increased comfort and safety of the patients.Leading players in the industry implement various methods, like mergers and acquisitions, to improve market penetration.
The Collateral Ligament Stabilizer System Market is segmented as follows-
Medial Collateral Ligament
Lateral Collateral Ligament
By Injury Type:
By End User:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?