Global Meniscus Repair Systems Market Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2031
The ‘Global Meniscus Repair Systems Market Size, Report and Forecast 2023-2031′ by Expert Market Research provides a comprehensive outlook on the global meniscus repair systems market, assessing the market based on its segments such as tear type, components, system type, treatment channel, end-user, and major regions.
The report also offers a detailed insight into the market based on patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, and partnership and collaborations analysis.
The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size: USD 0.47 Billion
- Forecast CAGR (2023-2031): 8.7%
- Forecast Market Size: USD 1 Billion
The global meniscus repair systems market is expected to witness significant growth during the forecast period, driven by the increasing prevalence of sports injuries and rising geriatric population. The growing awareness regarding minimally invasive surgical procedures and advancements in surgical techniques are also expected to propel the market growth. However, the high cost of meniscus repair systems and limited reimbursement policies may pose challenges for the market.
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The development of new meniscus repair systems and techniques, coupled with the increasing demand for arthroscopic surgeries, is anticipated to drive market growth during the forecast period. Moreover, the strengthening of healthcare infrastructure and the growing focus on research and development are likely to contribute to the market expansion.
Industry Definition and Major Segments
Meniscus repair systems are used to treat torn or damaged menisci in the knee joint. The meniscus is a C-shaped cartilage that acts as a cushion between the shinbone and thighbone. Meniscus repair systems help in preserving the knee joint and maintaining its stability and function.
Based on the tear type, the market is segmented into:
- Horizontal Tear
- Radial Tear
- Flap Tear
- Complex Tear
- Bucket-Handle Tear
- Oblique Tear
Based on component, the market is classified into:
- Repair Devices
- Death Probes
Based on system type, the market is classified into:
- All Inside Meniscal Repair Systems
- Inside Out Meniscal Repair Systems
- Outside In Meniscal Repair Systems
- Meniscal Root Repair Systems
Based on treatment channel, the market is classified into:
Based on region, the market is segregated into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The key trends in the global meniscus repair systems market include the growing focus on research and development to improve meniscus repair techniques and the introduction of advanced systems. Additionally, the increasing adoption of minimally invasive surgeries and technological advancements in arthroscopy instruments are also driving the market growth.
Growing awareness about early diagnosis and the importance of preserving knee joint function, along with an increase in sports-related injuries, are expected to contribute to the growth of the meniscus repair systems market. Furthermore, the development of innovative products, such as biodegradable implants and the incorporation of 3D printing technology, are anticipated to boost the market growth.
Key Market Players
The major players in the global meniscus repair systems market report are Smith & Nephew plc, Stryker Corporation, Johnson & Johnson, Zimmer Biomet Holdings, Inc., ConMed Corporation, Arthrex, Inc., Medtronic plc, and RTI Surgical, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces Models.