Newark, March 02, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the meniscus repair system market will grow from USD 459.2 million in 2022 and reach USD 822.3 million by 2032. The advancement of meniscus treatment via scientific research can be attributed to the current success of clinical treatment strategies for patients with meniscus-associated pathologies. Understanding the structure and function of the meniscus has played a key role in the development of meniscus science.
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Key Insight of Meniscus Repair System Market
North America to account for largest market size during the forecast period.
North America is expected to have the largest market share in the meniscus repair system. The growth of osteoarthritis and the need for meniscus repair systems for its prevention push the market growth in the region.. For example, as per the Centers for Disease Control and Prevention, osteoarthritis impacts about 30 million people in the United States. With one million operations performed each year, meniscus surgery is one of the most common surgical procedures in the United States. Similarly, the increasing FDA approvals in the region are anticipated to stimulate market growth. In April 2018, Ceterix Orthopaedics, Inc.'s NovoStitch Pro Meniscal Repair System was backed by the US Food and Drug Administration (FDA). This next-generation meniscal repair system represents a considerable improvement in the product line, with improved technical qualities that make it easier to use and improve the surgeon's workflow.
The all-inside meniscal repair system segment accounted for the largest market share of 28% and market revenue of 128.57 million in 2022.
The product type segment is divided into inside-out meniscal repair system, meniscal root repair system, all-inside meniscal repair system, and outside-in meniscal repair system. The all-inside meniscal repair system segment dominated the market, with a market share of around 28% and market revenue of 128.57 million in 2022. All-inside meniscal repair has achieved overall popularity over the current years. The techniques and devices have fast developed, improving ease of use, and decreasing surgical times and risk to the neurovascular structures.
The radial tear segment accounted for the largest market share of 25% and market revenue of 114.8 million in 2022.
The application segment is divided into horizontal tear, complex tear, radial tear, flap tear, and others. The radial tear segment dominated the market, with a market share of around 25% and market revenue of 114.8 million in 2022. Radial tears open across the short axis of a meniscus perpendicularly to the tibial plateau and will rise in a radial orientation from the central intercondylar region. This is opposed to horizontal and vertical meniscus tears, which include the other planes of meniscal tears.
The hospitals segment accounted for the largest market share of 27% and market revenue of 123.9 million in 2022.
The end-use segment is divided into ambulatory surgical centers, specialized orthopedic clinics, hospitals, and others. The hospitals segment dominated the market, with a market share of around 27% and market revenue of 123.9 million in 2022. The hospitals see significant meniscus repair system market rates due to the existence of government funds that provide financial comfort to patients experiencing surgery. Therefore, the hospitals are expected to experience a rise in patients owing to rising injuries in the prediction period.
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Report Scope
| Report Coverage | Details |
| Market Size by 2032 | USD 822.3 Million |
| CAGR | 6.00 % from 2022 to 2032 |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Key Players | ARCURO MEDICAL, Arthrex, Inc., BIOTEK, Chemex Trading SA, CONMED Corporation, DePuy Synthes (Johnson & Johnson), Double Medical Technology Inc., |
Advancement in market
In July 2021, Smith+Nephew declared the launch of the FAST-FIX FLEX meniscal repair system. The strategy helped the company strengthen its product portfolio.
Market Dynamics
Drivers: The meniscus repair surgery to prevent osteoarthritis is expected to drive market development.
A meniscal repair is a keyhole surgery technique for repairing a ripped meniscus. It is a minimally invasive technique often performed as an outpatient process. The most common type of surgery is Arthroscopic knee surgery, with nearly a million operations performed yearly in the United States. The typical procedure is arthroscopic partial meniscectomy (APM). Traumatic meniscus tears are generally related to athletes and occur in the somewhat younger population. A traumatic meniscus tear in the knee, followed by partial or total meniscectomy, is connected to an increased risk of knee osteoarthritis (OA).
Restraints: Knee stiffness
Some people can experience knee movement that can be challenging to recover after surgery. Lack of normal motion after knee replacement can be due to one of different reasons or a combination of causes which may include poor movement before surgery, improper positioning of the implants, inadequate pain control, excessive scar formation, and other surgical complications.
Opportunities: Technological advancements
The advancement of meniscus treatment via scientific research can be attributed to the current success of clinical treatment strategies for patients with meniscus-associated pathologies. Understanding the structure and function of the meniscus has played a key role in the development of meniscus science. The state of meniscus science has grown significantly with the development of scientific technologies, like the advent of the arthroscope, which has led to an improved interpretation of the meniscus for the longevity of the knee joint. As a result of technological and research advancements, a paradigm shift from meniscus resection to meniscus repairs was established. Any technological evolution's goal is to meet its users' requirements and anticipations. This is the same goal with orthopaedic surgery and the development of meniscal treatment. Therefore, understanding the essential focus areas for future research and development may lead to accelerated technological innovation in meniscus science.
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Some of the major players operating in the meniscus repair system market are:
• ARCURO MEDICAL
• Arthrex, Inc.
• BIOTEK
• Chemex Trading SA
• CONMED Corporation
• DePuy Synthes (Johnson & Johnson)
• Double Medical Technology Inc.
• Smith & Nephew
• Stryker
• Zimmer Biomet
Key Segments cover in the market:
By Product Type:
• Inside-out Meniscal Repair System
• Meniscal Root Repair System
• All-inside Meniscal Repair System
• Outside-in Meniscal Repair System
By Application:
• Horizontal Tear
• Complex Tear
• Radial Tear
• Flap Tear
• Others
By End-Use:
• Ambulatory Surgical Centers
• Specialized Orthopaedic Clinics
• Hospitals
• Others
By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Million). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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