Soft Tissue Allografts Market: Speedy Recovery and Painless Treatment to Favor Growth
Around two decades ago, a complicated procedure such as an open heart bypass surgery would involve a high level of risk. The patient would need a longer hospital stay and a month-long recovery period. Today, the risk level has been brought down to just 1-2%, and recovery takes just around a week. What’s changed? Open heart bypass, which requires a 6-7-inch incision, has been replaced by the key-hole procedure. The concept of painless treatment and speedy recovery has become the norm in healthcare today. And, all of this has happened on the back of technological advancements that have made sophisticated procedures simple for both, doctors and patients.
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While 206 bones make up the human skeletal system, the rest of the body is inundated with soft tissues. Muscles, tendons, ligaments, nerves, and blood vessels – all are soft tissues. While they are termed as soft tissues, damage to them can leave an individual in severe pain. Treatment varies from physiotherapy to replacing soft tissue. In case of surgery, doctors recommend soft tissue allografts to patients. With accident victims and sportspersons account for a large share of the end users, early recovery with less damage to the body is critical. Physical fitness is paramount for a sportsperson. This establishes the inclination of both, sportspersons and doctors, towards soft tissue allografts.
As neck-to-neck competition demands top-notch physical fitness, players refrain from risking their place in a team for a long-drawn treatment. This has, over the years, warmed the demand in the global soft tissue allografts market. As the market gathers momentum, players in the soft tissue allografts market will need a guide that gives them the right direction for a successful future. Transparency Market Research (TMR) has recently published a report on the global soft tissue allografts market that provides companies with the tiniest details and insights that would make the difference tomorrow.
Soft Tissue Allografts Market: An Opportunity for Tissue Banks and Insurance Companies
As the term soft tissue allograft gain impetus, and the number of procedures increase, players in the global soft tissue allografts market will start realizing the potential for opportunities that will aid growth. According to the TMR study, the demand for soft tissue allografts is much higher than the supply. In a study where researchers studied 42 tissue banks under the American Association of Tissue Banks, they observed that the demand exceeded supply. This describes how companies in the soft tissue allografts market can explore opportunities creating a tissue bank. In the absence of a natural allograft, patients are forced to look for synthetic allografts.
While private players in the soft tissue allografts market can bridge the demand supply gap, cashing-in as an opportunity, hospitals can also step forward to meet the demand. While setting up a tissue bank on their own might not be feasible, a group of hospitals can come together to meet this goal. This will divide the burden, both, in terms of manpower and capital.
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On the other hand, current trends in the soft tissue allografts market also open new doors of opportunities for insurance companies. Our study points out that, the cost of an allograft procedure is high when compared to autografts or synthetic allografts, again attributed to the limited availability of allografts. While tissue banks can help bridge the gap and eventually bring down the cost, insurance companies can include the expense of the procedure, which can be a huge turnaround for players in the soft tissue allografts market. As a result, it will lessen the financial burden on patients to a great extent, thus increasing demand.
Soft Tissue Allografts Market: Trends that will Matter
ACL Reconstruction to Engine Growth
Anterior cruciate ligament (ACL) reconstruction has become a common occurrence among sportspersons, especially in sports such as basketball, skiing, skating, bicycling, and football; sports that involve a lot of jumping. In many cases, where the fall is severe, the player ends up damaging a tendon in the knee. This explains the importance of replacing the damaged tendon. In most cases when players prefer physiotherapy over tissue replacement, the condition often relapses. To prevent this, doctors recommend reconstruction of the ACL. The procedure becomes imminent as players fear losing their spot in the team due to an injury. Based on segments, wound care accounts for the highest share in the soft tissue allograft market, says the TMR study. By revenue, this segment reaped ~ US$ 1.4 Bn in 2014, and is expected to garner ~ US$ 2.6 Bn by the end of 2027, growing at a healthy CAGR of ~ 7%.
Need for Healthy Teeth to Strengthen Demand
Dental procedures account for 30% of the revenue in the soft tissue allografts market, defining the importance of the business in dentistry. As people realize the importance of oral health, routine visits to a dentist has become the norm. While the percentage of the population adopting routine dental check-ups is rising, a large proportion continues to remain ignorant. Poor eating habits and ignorance towards trivial oral issues result in dental cavities and caries. Taking care of one’s teeth also involves taking care of the gums. As awareness trickles down into society, people are going to come forward and report issues with their gums. This trend hints why dentistry, as a segment, will grow at a CAGR of ~ 6.5% during the forecast period.
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