The meniscus repair systems market comprises medical devices that are used for repairing tears in the meniscus cartilage of the knees. The meniscus is a rubbery disc shaped cartilage that acts as a shock absorber between the thighbone and shinbone. A meniscus tear occurs due to sports injuries or wear and tear caused by aging. Some common devices used in meniscus repair include meniscal repair systems, meniscal sutures, meniscal root repair systems, and meniscal allografts. The rising participation in sports and recreational activities has increased the occurrence of knee injuries. Additionally, the growing geriatric population who are more prone to knee issues is also fueling the demand for meniscus repair treatments.

The global Meniscus Repair Systems Market is estimated to be valued at Us$ 858.7 Mn in 2023 and is expected to exhibit a CAGR Of 9.4% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The rising number of sports injuries is expected to drive the growth of the meniscus repair systems market over the forecast period. According to the given market overview, increased participation in sports and recreational activities has led to more knee injuries which has raised the demand for meniscus repair treatments. Additionally, one of the opportunities mentioned in the heading is the rising number of sports injuries, which is also a key growth driver. The increasing geriatric population is another driver as older individuals are more prone to knee issues due to wear and tear. The geriatric population serves as a large target customer base for meniscus repair treatments and medical devices. These two drivers of rising sports injuries and growing geriatric demography are expected to support the flourishing of the meniscus repair systems market in the coming years.

Segment Analysis

The meniscus repair systems market is dominated by the arthroscopic repairs sub-segment. This is because arthroscopic repairs provide minimally invasive procedures that reduce recovery time and allow patients to return to normal activity quicker compared to open surgery. Arthroscopic repairs utilize small incisions and an arthroscope, which is a tiny camera that transmits images to a video monitor in the operating room. This visualization allows surgeons to efficiently perform repairs with precision.

PEST Analysis

Political: Regulations surrounding new product approvals and reimbursements influence the development of innovative meniscus repair systems. For instance, the stringent premarket approval process by regulatory agencies requires extensive clinical testing.

Economic: Rising healthcare spending globally acts as a driver for the market. However, budget constraints in some countries may restrict procurement of high-cost systems.

Social: Growing public awareness about sports injuries and new treatment techniques are fueling adoption. The young active demographic prefer procedures enabling fast recovery.

Technological: Advancements in materials, visualization, and suturing techniques help achieve stronger, stable, and anatomical repairs. Active research aims to develop all-inside suture-less techniques.

Key Takeaways

The Global Meniscus Repair Systems Market Demand is expected to witness high growth.

The North American region currently dominates due to the high prevalence of sports injuries and presence of top manufacturers. In the US, around 250,000 arthroscopic partial meniscectomies are performed annually leading to considerable procedure volume.

Key players operating in the meniscus repair systems market are Pfizer Inc., Sanofi SA, Dr. Reddy’s Laboratories, Aspen Holdings, Abbott Laboratories, Leo Pharma AS, Alexion Pharmaceuticals Inc., Bayer AG, Johnson & Johnson, Bristol-Myers Squibb Company, Daiichi Sankyo Company, and Boehringer Ingelheim Pharmaceuticals Inc.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it