Collagen Meniscus Implant Market
Collagen meniscus implants are often recommended for a variety of diseases, including meniscus tissue loss, partial meniscectomy-required rips, acute or chronic post-traumatic tears, and meniscus damage needing more than 25% meniscus resection. Over the forecast period, the market for collagen meniscus implants is anticipated to rise as a result of an upsurge in the need for specialized orthopedic clinics to treat meniscus tears in both developing and developed countries. For example, some 35,000 meniscus procedures are carried out each year in Japan, as per a paper that was published in the Journal of Orthopedic Science in 2018.
The Global Collagen Meniscus Implant market is estimated to be valued at US$ 389.5 million in 2019, and is expected to exhibit a CAGR of 4.7% during the forecast period (2019–2027).
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Global Collagen Meniscus Implant Market- Competitive Landscape
Zimmer Biomet Holdings, Inc., RTI Surgical Holdings, Inc., Stryker Corporation, Orthonika, Active Implants LLC, and Biofixt are important market participants in the collagen meniscus implant industry.
Over the projected period, an increase in the frequency of sports injuries is anticipated to fuel the expansion of the worldwide collagen meniscus implant market.
The market for collagen meniscus implants is anticipated to rise over the projected period as a result of factors including an ageing population and an increase in sports injuries. For instance, the Eurostat 2019 report states that in 2018, 19% of the population of the EU was 65 years of age or older. In addition, 4.5 Mn persons in the EU receive medical treatment for sports injuries each year, in accordance with the IDB definitions of sports, Summary of injury statistics for the years 2012–2014. These patients are 15 years of age and older.
The market for collagen meniscus implant worldwide is anticipated to increase throughout the forecast period, and leading competitors are concentrating on adopting expansion methods like acquisitions. For example, Stryker purchased Ivy Sports Medicine, LLC in September 2016. Ivy Sports Medicine provides orthopedic doctors and patients with meniscal injuries that can be treated using minimally invasive meniscal repair implants.
Global Collagen Meniscus Implant Market- Restraints
It is anticipated that defective products will put patients’ safety in grave danger and seriously harm the corporations’ bottom lines. Also, it is anticipated that an increase in product recalls may restrain market expansion throughout the projection period. In January 2018, for instance, the U.S. FDA ordered the recall of 155 collagen meniscus implant devices made by Ivy Sports Medicine on the grounds that they were sent without the necessary temperature control and in poor packing.
Global Collagen Meniscus Implant Market- Regional Analysis
The market for collagen meniscus implants is segmented geographically into North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Due to the presence of the main companies in the U.S. like RTI Surgical, Stryker Corporation, and Zimmer Biomet who offer the collagen meniscus implant, North America is anticipated to experience one of the most significant growths in the market for collagen meniscus implant worldwide over the course of the forecast period. Moreover, rising orthopedic surgery rates in the area are anticipated to boost market expansion. For instance, 10% to 20% of orthopedic procedures in the United States involve the surgical repair of the meniscus, as reported by the American Academy of Physical Medicine and Rehabilitation in 2017. This amounts to over 850,000 orthopedic surgery cases annually.
Also, due to the presence of prominent businesses like Active Implants, Orthonika, RTI Surgical Holdings, Inc., and Biofixt in Europe, Europe is anticipated to have considerable growth in the worldwide collagen meniscus implant market during the course of the projection year.
Due to the increased incidence of meniscal injuries in the region, Asia Pacific is also anticipated to have considerable growth in the worldwide collagen meniscus implant market. For instance, a study in the Elsevier Journal in July 2018 found that the proportion of meniscal repair surgeries in the Asia Pacific region climbed from about 19% in 2014 to 24% in 2015.
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Collagen Meniscus Implant Market Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Collagen Meniscus Implant Market Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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