Global Collateral Ligament Stabilizer System market size was around USD 1.55 billion in 2018. It is expected to grow at a CAGR of 7.15% to reach USD 2.19 billion by 2023.
With a constant increase in elderly populace worldwide, the number of patients suffering from joint disorders and Arthritis is expected to surge rapidly. This will act as a key driving factor for collateral ligament stabilizer system market. Sports-related injuries which mainly include bone fractures, ligament tears, muscle sprains are also playing a crucial role in propelling the market growth. Also, an increase in road accidents will most likely boost the need for Collateral Ligament Stabilizer System.
The market is segmented by Ligament type, by injury type, and by End Use. With respect to Ligament type, the market can be divided into Medial Collateral Ligament and Lateral Collateral Ligament. The Medial Collateral Ligament (MCL) segment accounts for the major market share as the deterioration of MCL occurs very often while playing sports in which there is a heavy pressure on the knee. The Lateral Collateral Ligament stabilizer is used for knee stabilization in case of a knee injury. By injury type, the market can be segmented into Grade 1, Grade 2, and Grade 3. Grade 3 injuries segment is dominating the market share as the use of Collateral ligament stabilizer System is very essential to treat these cases. The constantly rising cases of Grade 3 injuries is also contributing towards the market development. Grade 2 injuries segment is expected to grow as stabilizers are more preferred to surgeries in case of grade 2 injury. By End Use, the market can be further divided into Hospitals, Orthopaedic Clinics, and Others. The Orthopaedic Clinics segment accounted for the major share because of the huge number of Orthopaedic Clinics established internationally over the last decade. The market share of Hospitals is anticipated to rise steadily owing to the favourable reimbursement policies initiated by various International governments regarding the treatment of knee injuries.
By geography the market is segmented into Latin America, Asia Pacific, Europe, North America, and Middle East and Africa. North America is dominating the global market currently owing to the favourable reimbursement policies and high frequency of knee injuries in sports and accidents. Augmentation of elderly populace is a key factor that drives the market expansion in Asian countries.
Some of the major manufacturers of the CLSS market include DJO Global LLC, DePuy Synthes, Ossur, DeRoyal Industries, Bauerfeind, Seabourne Group, Arthrex, and Deroyal.
Company: Market Data Forecast.
Contact: Abhishek Shukla
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