Global Meniscus Repair Systems Market Size, Share, and COVID-19 Impact Analysis, By Product (All-Inside Meniscal Repair System, Outside-In Meniscal Repair System, Inside-Out Meniscal Repair System, Meniscal Root Repair System), By Application (Horizontal Tear, Complex Tear, Radial Tear, Flap Tear, and Others), By End User (Hospitals, Ambulatory Surgical Centers, & Others) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Healthcare
Global Meniscus Repair Systems Market Size Forecasts to 2032
- The Global Meniscus Repair Systems Market Size was valued at USD 458.2 Million in 2022.
- The market is Growing at a CAGR of 5.4% from 2022 to 2032.
- The Worldwide Meniscus Repair Systems Market size is expected to reach USD 780.1 Million by 2032.
- Europe is expected to grow the fastest during the forecast period.
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The Global Meniscus Repair Systems Market Size is expected to reach USD 780.1 Million by 2032, at a CAGR of 5.4% during the forecast period 2022 to 2032. The majority of the growth during this period came from North America, owing to an increase in the number of significant businesses that make meniscus repair systems, an increase in disposable incomes, and the region's well-established presence of domestic enterprises.
The Meniscal Repair System is designed for use in meniscal repair and allograft transplant surgeries. These systems typically consist of a collection of specialized instruments and gadgets that are utilized during arthroscopic surgery to repair the meniscus. It includes arthroscopic or keyhole surgery to remove a portion or all of a meniscus from the tibiofemoral joint of the knee. The procedure can be either a complete meniscectomy, in which the meniscus and the meniscal rim are removed, or a partial meniscectomy, in which only a portion of the meniscus is removed. It could vary from a simple trimming of a frayed edge to anything short of eliminating the rim. It is a minimally invasive technique that is often performed as an outpatient in a one-day clinic. It is used when a meniscal tear is too large to be repaired surgically with a meniscus repair. A meniscus is a segment of cartilage with the shape of a c that acts as a stress absorber between the bones of the knee. According to the OECD, 10% of men and 18% of women over the age of 60 suffer from symptomatic anterior cruciate ligament and meniscus injuries, increasing their risk of developing osteoarthritis later in life.
This research report categorizes the global meniscus repair systems market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global meniscus repair systems market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global meniscus repair systems market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Meniscus Repair Systems Market Report Coverage
|Market Size in 2021:||USD 458.2 Mn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||5.4%|
|022 – 2032 Value Projection:||USD 780.1 Mn|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||115|
|Segments covered:||By Product, By Application, By End User, By Region.|
|Companies Covered:||Smith & Nephew, DePuy Synthes (Johnson & Johnson), Stryker, Zimmer Biomet, ARCURO MEDICAL, Chemex Trading SA, CONMED Corporation, Arthrex, Inc., BIOTEK, Double Medical Technology Inc..|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The global meniscus repair system market is expanding primarily as the prevalence of osteoarthritis, the occurrence of sports injuries, and the number of new launches and product approvals for meniscus repair systems grow. The increasing knowledge of the availability of innovative items encourages hospitals to improve their devices and services regularly. Furthermore, financial coverage for treatments related to meniscus tears has driven the development of meniscus repair systems. Also, an increase in the incidence of bone-related illnesses, traffic accidents, and obesity is expected to fuel market expansion. Demand for meniscus repair systems is expected to rise as new technology-based procedures emerge. Meniscus repair devices that conduct an all-inside arthroscopic meniscus repair with 100% suture and no pre-tied sliding knots on the articular surface of the meniscus have recently been produced. The removal of knots reduces the risk of intra-articular problems.
The high cost of meniscus repair surgeries is expected to limit the adoption of meniscus repair devices during the projection period. Meniscus repair procedures are costly because they require advanced medical equipment and technology, including as robotic-assisted surgery systems and arthroscopy instruments. Although meniscus repair is a low-risk procedure, the risk of infection, nerve injury, knee stiffness, and excessive bleeding is likely to exist during and after the surgeries performed employing meniscus repair systems. Thus, the dangers connected with surgeries performed with the assistance of meniscus repair systems are a major issue that is projected to limit the growth of the meniscus repair systems market.
- In 2022 the all-inside meniscal repair system segment is influencing the market with the largest market share during the forecast period.
The global meniscus repair systems market is classified into all-inside meniscal repair systems, outside-in meniscal repair systems, inside-out meniscal repair systems, and meniscal root repair systems, based on product. Among these segments, the all-inside meniscal repair system segment is dominating the market due to its benefits, such as all-inside meniscus repair, patients can regain mobility and resume normal activities more quickly, and this technique preserves the blood supply to the meniscus, which can improve the chances of successful healing and reduce the risk of postoperative complications. In addition, such solutions eliminate the risks associated with secondary incisions, minimize operational times, and make implant use simpler. As a result, increased benefits associated with all-inside meniscus repair methods, as well as an increase in its adoption rate, are expected to boost segment growth.
- In 2022, the radial tear segment is dominating the largest market share over the forecast period.
On the basis of application, the global meniscus repair systems market is segmented into various segments such as, horizontal tear, complex tear, radial tear, flap tear, and others. Among these segments, the radial tear segment will hold the greatest market share due to radial meniscus tears becoming more common, particularly in sports traumatology. Every year, over 3.5 million children aged 14 and under are injured while participating in recreational activities or sports, according to Johns Hopkins Medicine. Suture technique advances in radial meniscal tear repair are projected to boost segment growth.
- In 2022, the hospital segment is leading the market growth over the forecast period.
Based on end-user, the global meniscus repair systems market is bifurcated into different segments such as hospitals, ambulatory surgical centers, & others. Throughout these segments, the hospital is expected to dominate the market over the forecast period, owing to the availability of skilled medical professionals in hospitals, which helps to provide better services to patients, there has been an increase in patient admissions and a rise in the number of meniscus repair surgeries. According to WHO data, 73% of highly specialized hospitals performed more than 3000 procedures each year, compared to 18% of low-specialization institutions.
Regional Segment Analysis of the meniscus repair systems market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
In 2022, North America is leading the market with the largest market share of 35.3% during the forecast period
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North America is dominating the significant market growth over the forecast period due to advantageous reimbursement regulations, the rising prevalence of knee osteoarthritis, and growing knowledge regarding meniscal repair systems. Moreover, an increase in the number of meniscal-related surgeries as a result of the availability of better diagnostic technologies, as well as an increase in the number of sports participation, is one of the primary reasons driving the meniscus repair systems market in the region. For example, the Journal of orthopedic research reported in March 2021 that approximately 8,50,000 meniscus repair procedures were conducted in the United States each year. Also, the growing healthcare expenses are expected to drive demand in the United States.
Europe is expected to register a high revenue market growth during the forecast period, due to the geriatric population base being a significant component that drives the market in the region. Because the older population is more prone to many forms of orthopedic illnesses, the demand for surgical procedures such as meniscal operations is considerable.
The report offers the appropriate analysis of the key organizations/companies involved within the global meniscus repair systems market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Smith & Nephew
- DePuy Synthes (Johnson & Johnson)
- Zimmer Biomet
- ARCURO MEDICAL
- Chemex Trading SA
- CONMED Corporation
- Arthrex, Inc.
- Double Medical Technology Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In July 2021, Smith & Nephew plc introduced the FAST-FIX FLEX meniscal repair technology, which features a bending needle and shaft. It is used in meniscus repair and provides patients with long-term advantages. As a result, the introduction of the FAST-FIX FLEX Meniscal Repair System will assist the company in establishing a strong presence in the meniscus repair system industrial market.
- In June 2020, Arcuro Medical collaborated with Genesis Biologics, a medical supply firm, to promote and sell the superball meniscus repair device throughout the United States.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Meniscus Repair Systems Market based on the below-mentioned segments:
Global Meniscus Repair Systems Market, By Product
- All-Inside Meniscal Repair System
- Outside-In Meniscal Repair System
- Inside-Out Meniscal Repair System
- Meniscal Root Repair System
Global Meniscus Repair Systems Market, By Application
- Horizontal Tear
- Complex Tear
- Radial Tear
- Flap Tear
Global Meniscus Repair Systems Market, By End User
- Ambulatory Surgical Centers
Meniscus Repair Systems Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa.
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