Meniscus Repair System Market

Meniscus Repair System Market

New York, September 2023: According to a new research study by Global Insight Services (GIS), the Meniscus Repair System Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 1.1 billion by 2032.

A meniscus rupture is a frequent injury to the meniscus, which is a component of the knee. In the knee joint, the menisci consist of two crescent-shaped pads of thick, rubbery shock-absorbing cartilage. The Meniscal Repair System is designed for use during meniscal repair and allograft transplant surgeries. An outpatient surgical approach to replace damaged knee cartilage is arthroscopic meniscus repair. A torn meniscus is treated using a number of minimally invasive procedures, and recovery requires postoperative protection. These systems are generally comprised of a collection of specialized equipment and gadgets utilized during arthroscopic surgery for fixing the meniscus. Meniscus repair systems of many varieties are available on the market, including all-inside meniscal repair systems, outside-in meniscal repair systems, and others.

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Meniscus Repair System Market: Market Drivers and Trends

Increased technical progress and research & development activities by market-leading players in the industry of meniscus repair implants and systems drive market expansion. In recent years, advancements in minimally invasive arthroscopy procedures have become the norm for meniscus surgery, since they allow for smaller incisions and quicker recovery periods. For example, Arthrex Inc.’s Meniscal Root Avulsions technology allows for less invasive RetroConstruction repair, which helps to preserve bone while completing meniscal root repair. In addition, biological implants produced from animal tissue, synthetic materials are being utilized to fix, or substitute damaged meniscus tissue. These drivers are likely to propel market expansion.

Meniscus Repair System Market: Market Restraints and Challenges

The high cost of meniscus repair operations, on the other hand, is expected to limit the widespread use of meniscus repair systems throughout the projection period. Meniscus repair procedures are expensive because they need specialized medical equipment and technology, such as robotic-aided surgery systems and arthroscopy tools. Furthermore, meniscus repair operations are sophisticated and need the expertise of a professional surgeon, whose services might be pricey. As a result, the high surgical costs are unaffordable for a small number of patients, limiting market expansion. For example, the cost of meniscal tear surgery ranges between $7,400 and $9,000, depending on the patient’s age. Furthermore, meniscus repair devices, surgery, and other associated costs add to the entire cost of surgery. As a result, the high cost of meniscus repair procedures stifles market growth. Hence, these factors are expected to restrain growth of the market during the forecast period.

Meniscus Repair System Market Report Findings

The all-inside meniscal repair system segment is likely to hold the major share of the market in 2022

Based on product type, the Meniscus Repair System Market is segmented into an all-inside meniscal repair system, inside-out meniscal repair system, an outside-in meniscal repair system, and meniscal root repair system. The all-inside meniscal repair system segment is expected to dominate the market during the forecast period. All-inside meniscal repair technologies decrease technical difficulties, surgical time, and neuro-vascular structural danger. Furthermore, such technologies eliminate the hazards related to secondary incisions, shorten operational times, and make implant placement easier. As a result, increased benefits associated with all-inside meniscus repair methods, as well as a spike in its adoption rate, are expected to boost segment growth.

The radial tier segment is likely to hold the major share of the market in 2022

By application, the market is classified into radial tear, flap tear, horizontal tear, complex tear, and others. The radial tear segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period. Radial meniscus tears have grown increasingly prevalent, particularly in sports traumatology. According to Johns Hopkins Medicine, nearly 3.5 million children aged 14 and under are injured each year while participating in leisure activities or sports. Suture method advancements in healing radial meniscal tears are expected to drive market expansion.

The hospitals segment is likely to hold the major share of the market in 2022

Based on end-user, the Meniscus Repair System Market is segmented into hospitals, ambulatory surgical centers, specialized orthopedic clinics, and others. In 2022, the hospitals segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. This is because of the expanding number of healthcare facilities that have technologically improved technologies for performing knee-related meniscal operations. According to WHO data, 73% of highly specialized hospitals conducted more than 3000 procedures each year, compared to 18% of low-specialization institutions. Furthermore, expanding health insurance for the patient population is predicted to increase the number of surgical operations, boosting market development.

The North America region is accounted for the majority of market share in 2022

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Meniscus Repair System Market value followed by Asia Pacific. This is due due to an increase in the number of people suffering from orthopedic illnesses such as osteoarthritis and sports-related injuries. Furthermore, an increase in the number of meniscus repair procedures is expected to boost market development. For example, according to the Journal of Orthopaedic Research, released in March 2021, over 8,50,000 meniscus repair procedures were conducted in the United States each year. Furthermore, an increase in the frequency of sports injuries leads to an increase in the prevalence of meniscus tears. As a result, this aspect is expected to boost market expansion. For example, according to data released by Johns Hopkins Medicine, more than 3.5 million children aged 14 and younger are injured each year while participating in sports or leisure activities. As a result, this factor increases the likelihood of knee injuries and meniscus tears, fueling market expansion.

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Competitive Landscape

The key players studied in the global Meniscus Repair System Market are Healthium Medtech , Smith & Nephew plc, Stryker Corporation , Arthrex, Inc. , Double Medical Technology Inc. , Zimmer Biomet Holding Inc., Arcuro Medical, Chetan Meditech Pvt. Ltd., Johnson & Johnson, and CONMED Corporation others.

Meniscus Repair System Market: Recent Developments

  • In 2022, For treating meniscus joints, Arthrex, Inc designed an anterior approach with the FiberStitch implant. The FiberStitch implant is a novel all-inside meniscal repair technique that uses soft suture sheaths instead of hard PEEK implants. The 2-0 FiberWire suture is used for arthroscopic all-suture meniscus repair.
  • In July 2021, Smith & Nephew plc has introduced the FAST-FIX FLEX meniscal repair technology, which has a bending needle and shaft. It is utilized in meniscus repair and offers patients long-term advantages. As a result, the introduction of the FAST-FIX FLEX Meniscal Repair System will assist the firm in establishing a solid presence in the meniscus repair system industrial market.
  • In June 2020, Arcuro Medical collaborated with Genesis Biologics, a healthcare supply firm, to promote and sell the SuperBall meniscus repair device throughout the United States. As a result, this aspect is related to the growth of the meniscus repair system market.

Meniscus Repair System Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current Meniscus Repair System Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • The report also covers qualitative as well as quantitative analysis of Meniscus Repair System Market in terms of revenue ($Billion).
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Meniscus Repair System industry.
  • A thorough analysis of market trends and restraints is provided.
  • By region as well as country market analysis is also presented in this report.
  • Analytical depiction of the Meniscus Repair System Market along with the current trends and future estimations to depict imminent investment pockets. The overall Meniscus Repair System industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
  • Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Meniscus Repair System Market are also analyzed.

Meniscus Repair System Market Segmentation

By Product Type

  • All-inside Meniscal Repair System
  • Inside-out Meniscal Repair System
  • Outside-in Meniscal Repair System
  • Meniscal Root Repair System

By Application

  • Radial tear
  • Horizontal tear
  • Vertical tear
  • Complex tear
  • Others

By End-User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized Orthopedic Clinics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Netherlands
    • Sweden
    • Switzerland
    • Denmark
    • Finland
    • Russia
    • Rest of Europe
  • The Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Singapore
    • Indonesia
    • Taiwan
    • Malaysia
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • The Middle East
    • Africa

Key Players