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2021
Meniscal Repair Systems Market

Meniscal Repair Systems Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A10884
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Dec 2021 | 228 Views
   
Author(s) : Onkar Sumant
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COVID-19

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Meniscal Repair Systems Market Outlook - 2027

Meniscal repair is one of the commonly conducted procedure, especially with the advancements in meniscal repair techniques. The meniscus is a major component in various key functions related with the knee joint such as shock absorption, joint stability, load transmission, and articular cartilage nutrition. It occupies almost 60% of the area that is in contact between tibial and femoral cartilages, contributing to stability of knee joint and total joint conformity. Meniscal tear is an injury commonly reported during athletics and sports activities. Severe injury may need a repair surgery. During the meniscus repair surgery, various devices such as depth probe, inserters, suture, and other equipment are used. Meniscus repair systems are intended for utilization in meniscus repair surgeries as well as meniscal allograft transplant surgeries including anchoring, insertion, or suturing the implant to the meniscal surface during implantation procedures. A meniscus repair surgery is conducted to reinforce or replace the affected or diseased meniscus.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

 2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Products, Applications, Components, End users and Region

  Regions covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Arthrex Inc., Arcuro Medical, BIOTEK, CONMED Corporation, Ceterix Orthopaedics, Medtronic plc, Smith & Nephew, Orteq, Stryker, and Zimmer Biomet.

 

COVID – 19 scenario analysis:  

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to meniscus repair systems has been reduced and this segment have to face negligence subsequently causing negative impact on meniscal repair systems market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Growing incidences of severe sports injuries coupled with rising geriatric population, as the aging population is highly prone to such injuries are the key aspects making adoption of meniscus repair systems inevitable, thereby driving the market growth of meniscus repair systems. Undeveloped bones, insufficient rest after injury, poor training and conditioning adds to the overdo injuries that amplify the risk and complications associated with sports-related injuries. The growing complications in sports injuries in mainly due to growing interests in adventure sports including rugby, growth in sporting culture, autoimmune diseases and others are fuelling the demand for these systems will favor a high adoption rate for meniscus repair systems around the world. Furthermore, rising prevalence of diseases including trauma, arthritis, caused in sports activities or other physical exertion activities, long-term wear and tear due to occupational hazards exhausting the knee joints is expected to stimulate meniscus repair systems business growth. Meniscus repair systems are highly effective in preventing the development of osteoarthritis, which is gaining notable momentum, which will boost the growth of meniscus repair systems market. Additionally, sedentary lifestyles and lack of physical inactivity are the other factors spurring the growth of meniscal repair systems market. Technological advances gave facilitated the market development owing to manufacturing of miniaturized systems with the help of chrome-based materials along with computer-assisted deployment of sutures during surgeries. 

On the contrary, dearth of skilled medical professionals for performing meniscus transplant and repair surgeries, high costs involved with these systems and complications associated with its use like post-surgery stiffness and infection may arrest the meniscal repair systems market growth to some extent. In addition to this, ambiguities over prolonged outcome is another factor impeding the growth of meniscus repair systems market.

Commercialization of ergonomic solutions offered, featuring novel knotting coupled with low needle profile would help major market players with new growth avenues and opportunity to boost their market expansion.

New product launches to flourish the market

Launch of innovative products by key industry players and rising emphasis on products aiding in circumstances of sports-related and trauma injuries would elucidate the market growth. For instance, DePuy Synthes introduced TRUESPAN Meniscal Repair System in May 2018. It is a knee arthroscopy system that simplifies meniscal repair, further increasing the penetration of these arthroscopic devices in emerging markets. Similarly, April 2018 witnessed FDA approval Ceterix Orthopaedics’ advanced meniscal repair system NovoStitch Pro Meniscal Repair System. The product is company’s response for the rising market demand for innovative solution owing to rising arthroscopic knee repair procedures. Furthermore, Zimmer Biomet invested in Cayenne Medical to gain maximum share in sports medicine segment. These product launches would ensure market growth in coming years of meniscus repair systems.

Growth in incidences of sports injuries and road accidents would surge the demand

Immense rise in interests in the sports and adventure-based activities have resulted in tremendous patient pools suffering with musculoskeletal, knee and limb injuries. The cases of road accidents is also on rise in the past few decades. These incidences result in maladies related to meniscus, joints, and limbs. Furthermore, severe injuries potentially lead to knee fractures, and trauma. The World Health Organization statistics stated that in the year 2018, approximately 20 million to 50 million injuries were reported owing to road accidents annually around the world. Road accidents, being one of the prominent causes of death, inflicts fatalities on individuals at a ripe age of 5 to 29 years. Thus growth in road accidents and sports and adventure activities related injuries would surge the demand for meniscus repair systems thereby augmenting the market growth in coming years.

Key segments:

Segments

Sub-segments

  Product

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

  Applications

  • Horizontal Tear
  • Radial Tear
  • Flap Tear
  • Complex Tear
  • Bucket-handle Tear
  • Oblique Tear

  Components

  • Repair Device
  • Depth Probe
  • Inserter
  • Sutures
  • Others

  End users

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Others

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

 Key benefits of the report:

  • This study presents the analytical depiction of the global meniscus repair systems market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global meniscal repair systems market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global meniscal repair systems market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global meniscal repair systems market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Meniscus Repair Systems Market research report:

  • What are the leading market players active in the meniscus repair systems market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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