by Market Overview:
Meniscus refers to the C-shaped piece of dense fibrocartilage that acts as a shock absorber between the shinbone (tibia) and thigh bone (femur) in the knee. It helps improve knee stability and prevents friction between the femoral condyles and the tibial plateau. Meniscus tears are commonly caused due to trauma or injuries in sports activities. Meniscus repair systems help repair torn knee meniscus to restore knee function and relieve pain. These systems include surgical accessories, fixation devices, repair instruments, and biopsy forceps that enable minimally invasive repair procedures.
Market Dynamics:
The global meniscus repair systems market is driven by the rising incidence of sports injuries and technological advancements in knee repair systems. As per estimates, about 850,000 arthroscopic knee surgeries are performed every year in the United States, out of which approximately 220,000 are performed to repair a torn meniscus. Moreover, the growing popularity of contact sports such as American football, basketball, and skiing has increased the risks of sports injuries including knee ligament tears and meniscal tears.
Additionally, key players are focusing on developing innovative repair solutions such as bioabsorbable screws and all inside suture repair devices to enable faster recovery and improve patient outcomes. Furthermore, the increasing trend of less invasive arthroscopic techniques is also supporting the market growth. For instance, inside-out suture repair techniques have become widely adopted as
The global Meniscus Repair Systems Market Share is estimated to be valued at US$ 858.7 Million in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The meniscus repair systems market is dominated by the arthroscopic segment owing to the minimally invasive nature and lesser risk of complications associated with arthroscopic surgeries. Arthroscopic meniscus repair systems allow surgeons to repair torn meniscus using small incisions rather than large incisions required in traditional open surgeries. This results in less post-operative pain and faster recovery times for patients.
PEST Analysis
Political: Regulations regarding the approval process and reimbursement coverage for various meniscus repair procedures can impact market growth. Economic: Rising healthcare spending and increasing popularity of minimally invasive surgeries are fueling market demand. Social: Growing public awareness about the benefits of meniscus repair and rising sports activities are propelling the market forward. Technological: Advancements in arthroscopic equipment and implants are allowing surgeons to treat complex tears with improved accuracy and minimal invasiveness.
Key Takeaways
The global meniscus repair systems market is expected to witness high growth, exhibiting a CAGR of 8.7% over the forecast period, due to the increasing incidence of meniscal tears worldwide owing to sports injuries and rise in aging population.
The North American region currently dominates the market owing to presence of major players, higher healthcare expenditure and rising sports injuries in the region. The Asia Pacific region is expected to exhibit the fastest growth rate during the forecast period due to increasing medical tourism, focus of international players on emerging markets and rising standards of living.
Key players operating in the meniscus repair systems market are Smith & Nephew, DePuy Synthes, Stryker, Zimmer Biomet, Arthrex, Medtronic, Conmed, Schwartz Biomedical, RTI Surgical, Orteq, Baxter, Geistlich, Anika Therapeutics, B. Braun Melsungen, Cayenne Medical, Enetec Pharmaceuticals, Ivy Sports Medicine, Neotherix, OrthogenRx, Osiris Therapeutics. Major players are focusing on new product launches and geographical expansion to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
