Meniscus Repair System Market Expected to Reach $1046.6 million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Meniscus Repair System Market," The meniscus repair system market size was valued at $458.61 million in 2021, and is estimated to reach $1046.6 million by 2031, growing at a CAGR of 8.6% from 2022 to 2031.

Meniscus repair systems are the medical devices used to repair the meniscus, a fibrous cartilage in the knee that provides cushioning and stability. The meniscus can be damaged or torn due to trauma injuries or degeneration, which can lead to swelling, pain, and difficulty in knee movement. Thus, meniscus repair systems are used to repair or reconstruct the different types of meniscus tears such as radial tear, complex tear, and horizontal tears by using sutures, staples, and other meniscus repair systems. They are used by orthopedic surgeons to repair the meniscus. Some common types of meniscus repair system include suture anchor, meniscal allograft transplant solutions, and meniscal repair device.

Factors that drive the growth of global meniscus repair systems market include rise in elderly population, which is more likely to have underlying conditions such as osteoarthritis that can increase the risk of meniscus tears, surge in adoption of technologically advanced meniscus repair systems, and increase in product launches. For instance, in July 2020, Arcuro Medical an Israel based medical device company launched the SuperBall, an all-inside, all-suture, knotless meniscal repair device across the U.S. This device is used to replace the hard polymer implants with soft flexible suture bundles. Thus, launch of SuperBall is expected to help the surgeons to mimic inside-out tensioning of the meniscus. Thus, such product launches are anticipated to drive the meniscus repair system market trends. Thus, this factor is anticipated to drive the growth of meniscus repair system Market. 

Moreover, rise in number of meniscus repair procedures and increase in adoption of key strategies such as product launches & partnership by the market key players are further projected to drive the growth of meniscus repair system market during the forecast period. For instance, in June 2020, Arcuro Medical partnered with Genesis Biologics, a medical supply company, for the marketing and sales of the SuperBall meniscus repair system throughout the U.S. In addition, according to the data published by National Center for Biotechnology Information (NCBI), in July 2021, approximately 850,000 meniscectomy procedures were carried out in the U.S. Therefore, rise in meniscus repair surgeries has increased the use of meniscus repair systems, which, in turn, contributes toward the meniscus repair system industry growth. 

However, the complications associated with meniscus repair surgery such as injury to skin nerves and injury to nerves & blood vessels restrain the growth of the market. Furthermore, high cost of surgical procedures and lack of skilled surgeons in under developed countries are the factors that negatively impact the market growth.

On the basis of product, the meniscus repair system market size is classified into all-inside meniscal repair system, inside-out meniscal repair system, outside-in meniscal repair system, and meniscal root repair system. Depending on application, the market is fragmented into radial tear, horizontal tear, vertical tear, complex tear, and others. As per end user, the market is divided into hospitals, ambulatory surgical centers, and others.

On the basis of product, the meniscus repair system market analysis is based on all-inside meniscal repair system, inside-out meniscal repair system, outside-in meniscal repair system, and meniscal root repair system. The all-inside meniscal repair system segment is expected to be the fastest growing segment during the forecast period owing to its advantages such as all-inside meniscus repair allows patients to regain mobility and return to normal activities with a faster recovery time and this technique preserves the blood supply to the meniscus, which can improve the chances of successful healing and reduce the risk of post-operative complications.

On the basis of application, the market is classified into radial tear, horizontal tear, vertical tear, complex tear, and others. The complex tear segment dominated the market in 2021 and is anticipated to be the fastest growing segment during the forecast period owing to rise in the incidences of complex tears due to sport injuries.

On the basis of end user, the market is classified into hospitals, ambulatory surgical centers, and others. The hospitals segment is projected to be the fastest growing segment during the forecast period owing to the availability of trained medical staff in hospitals that helps to provide better services to patients, increase in patient admission in hospital, and surge in the number of meniscus repair surgeries.

Region wise, North America had the meniscus repair system Market share in 2021 and is expected to maintain its lead during the forecast period owing to higher adoption of advanced meniscal repair systems, rise in geriatric population suffering from knee osteoarthritis, availability of well-developed healthcare infrastructure, and surge in prevalence of knee injuries. However, Asia-Pacific is expected to exhibit fastest meniscus repair system market share during the forecast period owing to improvement in health awareness, rise in incidences of road accidents, increase in disposable income, development in healthcare facilities, and surge in healthcare expenditure.

The COVID-19 pandemic had a negative impact on the meniscus repair systems market as there is decrease in number of meniscus repair surgeries, decrease in number of sports injuries and accidental injuries and major number of specialty hospital are converted into COVID centers. 

• Key findings of the study
• By product, all-inside meniscal repair system segment dominated the market in 2021.
• On the basis of application, complex tear segment dominated the market in 2021.
• By end user, hospitals segment dominated the market in 2021.
• By region, North America dominated the meniscus repair system industry in 2021 and is expected to grow at a CAGR of 7.8%.