The latest market report published by Credence Research, Inc. “Meniscus Repair Systems Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the Meniscus Repair Systems market was valued at US$ 366.8 Mn in 2018, expected to grow at a CAGR of 7.6% during the forecast period from 2019 to 2027.
The global meniscus repair systems market is developing efficiently from 2019 to 2027 accredited to the rise in incidences for symptomatic injuries, ACL or meniscus related sports injuries, prevalence for osteoarthritis by elderly population, injury at workplace and other trauma cases on a global scale. Presently, more than 1.1 million meniscal tears surgically treated in the U.S every year. Around 20% of the procedures is the meniscus repaired, rather than replaced or removed. New launch of meniscus repair systems with improved biological solutions and enhancement in minimally invasive techniques will drive the market growth globally. For instance, in May 2018, Johnson & Johnson launched the TRUESPAN meniscal repair system. Mainly intended for use in meniscal repairs and allograft transplant procedures. Moreover, new product development with bio-absorbable suture solutions, recent acquisitions and partnerships by top companies in the U.S. market will drive the market growth.
Miniaturization of the devices along with automated suture deployment applications are in demand. Moreover, the growing elderly population along with osteoarthritis, incidences of sports injury, and awareness related to top applications for minimally invasive procedures for enhanced future outcomes will further spur revenue growth during the forecast period. Improvement in the standard of care, and heavy investment in sports medicine devices industry along with arthroscopy are major factors elevating the overall demand on a global scale. Top technology products generating maximum revenue share include Meniscal Cinch II all-inside meniscal repair device, NovoStitch Pro, Sequent® Meniscal Repair Device, CrossFix® Meniscal Repair System and others.
Key Market Movements:
• Globally, the meniscus repair systems market is growing at a CAGR of 7.6% for the period from 2019 to 2027
• Swift expansion of new products in the emerging markets and increasing medical tourism industry in the orthopaedics segment will drive the growth of meniscal repair systems in the Asia Pacific region
• The key growth factors comprise increasing surgical and meniscus repair or implantation procedures globally, and FDA approval of new meniscus repair systems (mainly in the orthopaedics industry)
• Market limitations include high cost of repair systems, post-surgery complications, no or very less technology expansion in the lower economic nations, unstructured reimbursement scenario and longer healing time for numerous radial or complex tears
• Major players in this vertical are Stryker Corporation, Zimmer Biomet, CONMED Corporation, Arthrex, Inc., Johnson & Johnson, Medtronic Plc, Smith & Nephew plc (Ceterix Orthopaedics), Orteq Sports Medicine Ltd (Saratoga Partners LLC), Arcuro Medical Ltd., EBERLE GmbH & Co. KG, BIOTEK – CHETAN MEDITECH PVT. LTD. and others.
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