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Meniscus Repair Systems Market

Meniscus Repair Systems Market By Components (Repair Device, Depth Probe, Inserter, Sutures), By Distribution Channel (Hospitals, Clinics & Others) & By Region (North America, Latin America, Japan) - Global Market Insights 2022-2032

Analysis of Meniscus Repair Systems market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Meniscus Repair Systems Market Outlook (2022-2032)

A meniscus transplant or repair surgery is performed to repair or replace the damaged or diseased meniscus of the knee. A meniscus repair system is a device intended for use in meniscal repairs and meniscal allograft transplant procedures such as insertion, anchoring, or suturing of the allograft to the meniscal rim during transplant procedures.

The present market value of the worldwide meniscus repair systems market accounts for USD 435.86 Million in the year 2022. This market is expected to grow with a CAGR of 8.7% in assessment duration. The valuation of the meniscus repair systems marketing is expected to reach USD 1003.79 Million by end of 2032.

The global meniscus repair systems market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, and Middle East & Africa. North American region accounts for the maximum share of the meniscus repair systems market. The meniscus repair systems market is dominated by key market players such as Arcuro Medical ltd, Arthrex Inc, Stryker, Medtronic, Cayenne Medical Inc, and BIOTEK.

Report Attributes

Details

Meniscus Repair Systems Market size (2022 A)

USD 435.86 Million

Base Year for Estimation

2022

Forecast duration for this research

2022-2032

Forecasted Market value (2032 F)

USD 1003.79 Million

Global Market Growth rate (2022-2032 E)

CAGR of 8.7%

Key Companies Profiled

  • Ceterix Orthopaedics
  • DePuy Synthes (Johnson & Johnson)
  • Arcuro Medical ltd.
  • Arthrex, Inc.
  • Stryker
  • Medtronic

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Demand Drivers of the Meniscus Repair Systems Market

The demand for meniscus repair systems is driven by the rising no of incidences such as arthritis and trauma across patients. This surgery is done to replace or repair the damaged meniscus of the knee. The increasing no of sports participants is driving incidences of sports injuries. As a result, there is a rise in demand for meniscus repair systems. There is a high prevalence of meniscus tears among young athletes.

High-risk games such as skiing and football are prone to a meniscus injury. In the geriatric populace, there are various other technologies used in other surgeries which are also expected to drive sales in the meniscus repair market share. There is a rise in research and development to improve therapies that foster meniscus repair market growth.

Unlike conventional orthopaedic surgeries, Meniscus repair is improving with advancements in technology. The damaged parts are now conveniently repaired or replaced altogether leading to rapid relief. The use of artificial intelligence in the interpretation of medical information has given ease to practitioners. The learnings based on the patient’s prior history are efficiently done with the use of AI algorithms and machine learning.

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Deterrents for the growth of the Meniscus Repair Systems Market

There are deterrents such as a lack of experienced surgeons in meniscus transplantation which is hampering the growth of meniscus repair systems. People tend to postpone surgeries due to the higher cost associated with meniscus repairs. There are possibilities of complications such as the risk of infection, stiffness after surgery and persistent pain have an impact on the restricting growth of the market.

There is also a noticeable gap in the standard definition of symptoms of meniscus faults which leads to differences in the opinions of health experts and the course of treatments. These factors have an impact on allograft sizing and longer-term efficiency. The fixation technique is a medical field innovation that started to affect the expansion of meniscus repair systems markets.

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Postponement of Meniscus Repair Surgeries during Pandemic Affected Demand.

The pandemic had led to delays or cancellations of many meniscus repair surgeries across the globe. This has affected the demand for meniscus repair systems share during the period. In the UK nearly 10 million people were in wait for their Meniscus repair surgery due to the pandemic in 2021. Apart from the UK, in the US around 1 million spinal and joint surgeries were postponed by 2022 which has affected the demand for meniscus repair systems throughout this period.

The pandemic followed by unemployment and payment cuts has affected the financial capacity of patients resulting in rescheduling and postponement of surgeries. Considering the greater potential for the economics of scale this segment has greater prospects in terms of profit for firms. Medical operators should focus on offering a safe and hygienic environment to regain customer trust.

Segment wise analysis

Based on the end users, the meniscus repair systems market is dominated by hospitals and trauma centres. The hospitals see large Meniscus repair system market rates owing to the availability of government funds that give financial relief to patients undergoing surgery. Alongside these hospitals are anticipated to experience a rise in patients due to increasing injuries in the forecast duration.

All inside meniscal repair system is anticipated to hold the major share of global markets. these are preferred for their promising biomechanically strong results within the single insertion techniques.

Regional analysis

North America dominated by the U.S. accounts for the largest share of the global meniscus repair systems market owing to the concentration of key market players, high awareness and faster uptake of the latest technologies. North American region is followed by Europe which is expected to be led by Germany, France and the U.K. The advanced medical devices industry of Germany is a significant driver of the European meniscus repair systems market.

The meniscus repair systems market is expected to be driven by the developed regions of North America and Europe owing to first-comer advantages, high per capita income, fast adoption of newer technology, and developed healthcare infrastructure, among others. Thus, North America and Europe are expected to generate the largest as well as the fastest-growing meniscus repair systems market.

However, the market is expected to shift in favour of the Asia Pacific and Japanese markets. Japan is expected to drive a large market owing to its similarities with developed economies and advanced healthcare. In addition, China and India are expected to drive a large meniscus repair systems market share owing to their large population.

The Middle East and Africa meniscus repair systems market is expected to be dominated by the wealthy gulf economies of Saudi Arabia, Kuwait, UAE and Qatar. However, the poor income of African economies coupled with poor social conditions is hampering the meniscus repair systems market in Africa.

Recent developments

Vendors are engaged in new product launches with novel and proprietary technology. However, improvements in distribution efficiency are the need of the hour as a strategic partnership with hospitals is expected to drive the growth of the Meniscus Repair Systems market. Also, the extensive efforts pertaining to push marketing of Meniscus Repair Systems to end user is likely to boost the growth of the Meniscus Repair Systems market. Technology gains from product development represent the largest value proposition over cost.

  • Arthrex, Inc in 2022, developed an anterior approach and FiberStitch implant for treating meniscus joints. The FiberStitch™ implant is an innovative all-inside meniscal repair system that replaces hard PEEK implants with soft suture sheaths. 2-0 FiberWire suture provides secure arthroscopic all-suture meniscus repair. The ergonomic handle is designed for single-handed implant delivery and active implant deployment technology minimizes needle exposure beyond the meniscus, eliminating the need to past-point the needle.
  • Stryker among the world’s leading medical technology firms launched Monterey AL Interbody System, a stand-alone fusion device designed to perform anterior lumbar interbody fusion. Monterey AL assists in the creation of an environment favourable for bone fusion and recreation. The company uses 3D printing technology integrated to its preclinical data.

Meniscus Repair Systems Market: Segmentation

The global meniscus repair systems market is segmented based on utility, physiological parameters, distribution channel, and region.

  • By Components :

    • Repair Device
    • Depth Probe
    • Inserter
    • Sutures
    • Others
  • By Distribution Channel :

    • Hospitals
    • Clinics
    • Trauma Centres
  • By Region :

    • North America (U.S., Canada)
    • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
    • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
    • CIS & Russia
    • Japan
    • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
    • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

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Advancements in technology such as the development of a miniaturized system using advanced chrome-based materials are driving the growth of the meniscus repair systems market.

The global Meniscus Repair Systems Market was valued at USD 435.86 Million in the year 2022.

The market is expected to grow continuously with a CAGR of 8.7%in the forecast duration.

Key market players in the meniscus repair systems market are- Ceterix Orthopaedics, DePuy, Synthes (Johnson & Johnson), Arcuro Medical ltd., and Arthrex, Inc.

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