This report from Life Science Intelligence provides the latest market data for the Global Rotator Cuff Repair Suture Anchors Market. Information covered by this report includes:
The global market for rotator cuff repair suture anchors is expected to reach an estimated $81.5 million in 2020 and is projected to increase at a CAGR (2020-2024) of 8.1%.
This report covers the impact of COVID-19 on the rotator cuff repair suture anchors market, including a recent forecast from 2020 to 2024. COVID-19 has also impacted leading competitors, such as DePuy Synthes (J&J), Smith & Nephew, Zimmer Biomet, Wright Medical, and others. The report provides insights into trends, drivers, and limiters of the rotator cuff repair suture anchors market, as well as highlights potential opportunities.
Prior to COVID-19, approximately 500,000 rotator cuff surgeries are performed annually in the US. The COVID-19 pandemic has had a two-fold impact on orthopedic procedure volumes. Lockdowns and government restrictions on sports events and outdoor activities have reduced the incidence of sports-related injuries. The volume of elective orthopedic procedures was also negatively impacted by COVID-19 as many procedures were postponed to prevent the spread of the virus. While the delcine in sports-medicine related procedures was significant in 2020, procedure volumes are projected to return to pre-COVID-19 levels in 2021.
Major competitors in this market include Johnson & Johnson subsidiary DePu Synthes and Smith & Nephew. Together these two companies account held an estimated 70% market share of global rotator cuff repair suture anchor sales.