A method for non-destructively estimating a current physical condition of a cordage product in-service is described. The method involves obtaining sensor data associated with the cordage product while in-service handling a load. The sensor data includes any combination of cordage product elongation data, applied load data, and diametric data. The method further includes determining an axial stiffness value associated with the cordage product based on the sensor data and estimating a health state of the cordage product based on the determined axial stiffness value. The estimated health state is indicative of the current physical condition of the cordage product.