North America Soft Tissue Repair Market Forecast 2021-2028
The North America soft tissue repair market is projected to grow with a CAGR of 5.93% across the estimated years of 2021 to 2028. The regional market’s growth is facilitated by key drivers such as supportive reimbursements, the surging awareness about soft tissue repairs, the rising incidence of hernia disorders, and improved healthcare facilities.
The North America soft tissue repair market growth evaluation includes the assessment of Canada and the United States. Canada is one of the most advanced and developed economies across the globe. As a result, the country possesses a strong focus on healthcare and medical infrastructure. According to the Canadian Institute for Health Information, the overall health expenditure in Canada in 2019 was anticipated to reach $7,068 per person, or $264 billion. Furthermore, the country’s health spending is estimated to account for more than 11% of Canada’s gross domestic product (GDP).
On the other hand, as per the estimations of the government of Canada, more than 1.4 million citizens residing in the country have heart disease. The condition is also one of the leading causes of death in Canada, claiming over 33,600 lives annually. In addition, the rising numbers of orthopedic as well as sports-related injuries and trauma cases further augment the demand for soft tissue repair products. Therefore, the aforementioned factors are expected to strengthen the market growth in North America over the forecasted period.
The top companies operating in the market are Johnson & Johnson, Boston Scientific Corporation, Baxter International Inc, Becton, Dickinson and Company (BD), etc.
Interesting ASD Report North America Soft Tissue Repair Market Forecast 2021-2028