The Meniscus Repair Systems Market is estimated to be valued at US$ 858.7 million in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
The Meniscus Repair Systems Market is witnessing significant growth due to the increasing incidences of knee injuries, primarily caused by sports activities and accidents. Meniscus repair systems are specially designed medical devices used in minimally invasive surgical procedures to repair the damaged meniscus, a crucial part of the knee joint. These systems offer numerous benefits to patients, such as reduced pain, faster recovery, and improved knee functionality. With the growing awareness about the importance of meniscus repair and advancements in technology, the demand for these systems is expected to rise in the coming years.
The market dynamics of the Meniscus Repair Systems Market can be attributed to two key drivers. Firstly, the increasing incidences of knee injuries, especially among athletes and sports enthusiasts, are driving the demand for meniscus repair systems. Secondly, the growing geriatric population, which is prone to knee-related issues such as osteoarthritis and meniscus tears, is further fueling market growth. Moreover, advancements in meniscus repair techniques and the development of minimally invasive surgical procedures are also contributing to the market expansion. These factors are expected to propel the growth of the Meniscus Repair Systems Market in the forecast period.
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TOP Players in Market Report are: – Smith & Nephew, DePuy Synthes, Stryker, Zimmer Biomet, Arthrex, Medtronic, Conmed, Schwartz Biomedical, RTI Surgical, Orteq, Baxter, Geistlich, Anika Therapeutics, B. Braun Melsungen, Cayenne Medical, Enetec Pharmaceuticals, Ivy Sports Medicine, Neotherix, OrthogenRx, Osiris Therapeutics
- By Product Type
- All-Inside Repair Devices
- Outside-In Repair Devices
- Inside-Out Repair Devices
- Meniscal Scaffolds
- By Application
- Knee Joint Repair
- Shoulder Joint Repair
- Ankle Joint Repair
- Elbow Joint Repair
- Others (Hip, Wrist etc.)
- By End User
- Orthopedic Clinics
- Ambulatory Surgery Centers
- Others (Academic Institutes etc.)
- By Product Type
Rising Prevalence of Meniscal Injuries:
– Meniscal injuries are becoming increasingly common, driven by a rise in sports-related activities, especially among young individuals. This has led to a growing demand for meniscus repair systems in order to effectively treat these injuries.
– According to a report by the American Orthopedic Society for Sports Medicine (AOSSM), approximately 850,000 meniscal surgeries are performed in the United States every year. This high prevalence of meniscal injuries is a significant driver for the meniscus repair systems market.
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Technological Advancements in Meniscal Repair Systems:
– There have been significant advancements in meniscus repair systems, including the development of minimally invasive surgical techniques and the introduction of novel materials for repair devices.
– The introduction of all-inside repair systems, such as the “all-inside meniscal repair,” has revolutionized the field of meniscal repair. These systems offer several advantages over traditional methods, such as shorter operation times, less tissue damage, and quicker recovery.
– The development of biodegradable implants that promote tissue healing and regeneration has also contributed to the growth of the market. These implants eliminate the need for subsequent removal surgeries, reducing patient discomfort and improving outcomes.
High Cost of Meniscus Repair Systems:
– One of the major restraints for the meniscus repair systems market is the high cost associated with these systems. The cost of meniscus repair procedures, including the use of repair systems, can be prohibitive for many patients, especially in developing countries.
– The cost of repair systems includes the device itself, surgical instruments, and other associated consumables, further adding to the overall expenses. This can limit the adoption of meniscus repair systems, particularly in regions with limited healthcare budgets.
Limited Reimbursements for Meniscal Surgeries:
– Another significant restraint for the meniscus repair systems market is the limited reimbursements provided by insurance companies for meniscal surgeries. Many insurance providers consider these surgeries to be elective procedures and may not fully cover the costs associated with the repair systems.
– This lack of adequate reimbursement can deter patients from undergoing meniscus repair surgeries, leading to reduced demand for repair systems. It also imposes financial burdens on patients who may have to bear a significant portion of the costs themselves.
– Additionally, the lack of reimbursement may also discourage healthcare providers from offering meniscus repair as a treatment option, further limiting the market growth.
In conclusion, the meniscus repair systems market is driven by the rising prevalence of meniscal injuries, especially among individuals engaged in sports activities. Technological advancements, such as minimally invasive techniques and biodegradable implants, have also contributed to market growth. However, the high cost of repair systems and limited reimbursements for meniscal surgeries act as restraints for the market. Both these factors hinder the adoption of meniscus repair systems, particularly in regions with limited healthcare budgets or constrained insurance coverage.
- In January 2022, Stryker launched the Axess Meniscal Repair System, an automated all-inside meniscal repair device for radial, bucket handle, and complex tears. The intuitive handles provide control and flexibility during tissue approximation and suture fixation.
- In September 2021, Johnson & Johnson Medical Devices launched the VELYS Robotic-Assisted Solutions for knee surgeries, including meniscal cartilage repair procedures. The AI-powered robotic system provides real-time intraoperative guidance for improved accuracy and patient outcomes.
- In June 2020, Medical Devices Business Services, Inc. (MDBS) launched the Citrelock all-inside meniscal repair device, featuring a unique self-closing, knotless implants made of proprietary citrelock material for secure fixation strength and biocompatibility.
Table of Contents
Chapter 1 Market Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Market Size Analysis from 2023 to 2030
Chapter 2 Competition by Types, Applications, and Top Regions and Countries
2.1 Market (Volume and Value) by Type
2.3 Market (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Worldwide Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Meniscus Repair Systems Sales, Consumption, Export, Import by Regions (2023-2023)
Chapter 5 North America Market Analysis
Chapter 6 Europe Market Analysis
Chapter 7 Middle East and Africa Market Analysis
Chapter 8 Asia Pacific Market Analysis
Chapter 9 Latin America Market Analysis
Chapter 10 Company Profiles and Key Figures in Meniscus Repair Systems Business
Chapter 11 Market Forecast (2023-2030)
Chapter 12 Conclusions
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