The latest market report published by Credence Research, Inc. “Collagen Meniscus Implant Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the collagen meniscus implant market was valued at US$ 308.6 Mn in 2018, expected to grow at a CAGR of 5.3% during the forecast period from 2019 to 2027.
The global collagen meniscus implants market is increasing proficiently from 2019 to 2027 accredited to increase in hospital admissions for sports-related knee injury, osteoarthritis, joint overloading, accidents or trauma cases and others along with the growing number of menisectomy procedures. Upgraded bioabsorbable technology in meniscus implants will enhance the demand, e.g. CMI® implant type I, CMI®XL – the next generation and others. Increasing acquisition strategies, new technology expansion, and product launch will further drive the market growth globally.
In Nov 2015, Ivy Sports Medicine (now Stryker), declared the first orthopedic implantation of its Collagen Meniscus Implant in the United States. Increasing prevalence of chronic and acute meniscus tears in the geriatric population will enhance market growth. In the U.S., incidences of acute meniscal tears are more than 60 cases per 100,000 individuals. Moreover, population older than 60 years of age, the rate of degenerative meniscal injury is around 55-60%. Every year, around one million surgical procedures related to meniscus resection are performed in the U.S., which will drive the market growth in the North America region. According to recent studies and research, Collagen Meniscus Implant (CMI) for medial meniscal substitution has shown improved clinical outcomes with higher safety.
Top manufacturing companies focused on novel product launch and FDA approval on a global scale, mainly in the U.S. and EU market. The North America market contributed maximum revenue attributed to increasing prevalence of bone related disorders, sports injuries (soccer, volleyball, basketball, and athletics), arthritis, joint instability due to knee injury, a large pool of geriatric population, and domicile of key manufacturers in the U.S. market. Many global manufacturers are focusing on widespread investments to further launch new equipment and tools utilized for meniscus implantation procedures.
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