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MARKET OUTLOOK

Triton Market Research has put forth that the Latin American soft tissue repair market is likely to grow with a CAGR of 5.22% over the forecasting years between 2021 and 2028. Brazil, Mexico, and Rest of Latin America together comprise the market in this region. 

Mexico is facing an obesity endemic. In 2019, it was second in the list of countries with the highest obesity rates in the world, as per the statistics from Global Food Cultures. As per the United Nations’ FAO, the number of adult Mexicans suffering from obesity rose by 4 million between 2012 and 2012, with 20.5 million obese adults in 2012, to 24.3 million in 2016. Obesity is known to result in deliberating effects on an individual’s musculoskeletal system and may also lead to osteoarthritis. The growing obesity rate in the country is consequently resulting in a high demand for soft tissue repair products.

Further, according to data from the Aging Readiness & Competitiveness Initiative, Mexico’s population of people aged 65 years and older is estimated to grow by 277% from 2015 to 2050. There were 8.2 million older adults in the country in 2015, and this number is projected to rise to over 30 million by 2050. Therefore, the growing geriatric population in the nation is anticipated to raise the demand for soft tissue repair, as the elderly are highly prone to various health scares. The growing demand for soft tissue repair is therefore expected to bolster the market growth in Mexico over the forecast period.

COMPETITIVE OUTLOOK

Baxter International Inc, Johnson & Johnson, Medtronic Plc, Allergan, Stryker Corporation, Boston Scientific Corporation, Bard Peripheral Vascular Inc, Integra Lifesciences Corporation are some of the prominent names present in the soft tissue repair market.