NEW YORK, Dec. 23, 2020 /PRNewswire/ -- There are two types of techniques used in the fixation of syndesmosis implant systems. While screw fixation is one technique that has been used over the years, the suture button technique is now trending in the syndesmosis implant systems market. A number of research studies conducted in order to determine the use of suture button implants and screw implants indicate that, suture button implants are more cost-effective as compared to screw implants. In addition, technological developments employed in suture button implants give them an edge over screw implants. For example, the Anthrax Tightrope is a suture button implant that offers adjustable cortical fixation for cruciate ligament reconstruction.
In addition, it is implanted through a minimally-invasive technique. As such, increasing adoption of suture button implants is leading the syndesmosis implant systems market toward significant growth by transforming the surgical fixation of syndesmosis.
Persistence Market Research predicts that the global syndesmosis implant systems market will exhibit an impressive 8% CAGR over the forecast period to reach a valuation of US$ 160 Mn by 2030.
Key Takeaways from Syndesmosis Implant Systems Market Study
- In terms of product, titanium-based plate implants hold a maximum share in the syndesmosis implant systems market due to their established position in this space.
- By application, ankle fractures dominate with more than 50% of market share and a CAGR of 8%. This is attributed to high incidence of ankle fractures across regions.
- In terms of end user, ambulatory surgical centers is the leading segment with a market share of 48.5%. This is due to the shift of orthopaedic surgeries from hospitals to ambulatory surgical centers, as a result of better patient satisfaction and improving patient outcomes.
- North America generated the highest revenue share of 41.2% and the syndesmosis implant systems market in the region will expand at a CAGR of 8% during the forecast period, due to the presence of prominent players in this region. Europe is the 2nd-most lucrative regional market with a market share of 31.4%.
- The COVID-19 pandemic is having a negative impact on the global syndesmosis implant systems market. The outbreak has led to delaying of non-essential medical procedures, which, in turn, has reduced revenue generation of the syndesmosis implant systems market.
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"Rising burden of foot & ankle fractures is expected to boost the growth of the syndesmosis implant systems market over the coming years," says a Persistence Market Research Analyst.
Industry Consolidation & Expansion of Product Portfolio - Key Strategies Adopted by Players
Manufacturers in the syndesmosis implant systems market aim to expand their geographical horizon and satisfy unmet needs of the patient population through acquisitions. For example, in November 2019, Exactech, Inc. acquired its independent distribution partner, Exactech Italia S.p.A. This enabled the company to strengthen its distribution channel and expand its presence in new regions.
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In addition, companies are constantly focusing on product innovation by strengthening their R&D expenditures. Moreover, manufacturers are laying increased attention on designing products, adopting new product development strategies, and conducting strict quality control checks in order to develop products that will enhance their presence in the global syndesmosis implant systems market.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the syndesmosis implant systems market in its latest study, presenting historical demand assessment of 2015 - 2019 and projections for 2020 - 2030, on the basis of product (titanium-based plate implants, stainless steel-based plate implants, and biodegradable material-based implants), application (ankle fractures, syndesmosis reduction, and postoperative management), and end user (hospitals, ambulatory surgical centers, and specialized orthopaedic clinics), across seven key regions.
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