March 28, 2020

Meniscus Repair Systems Market: Growing by 7.6% CAGR over the forecast period

The latest market report published by Credence Research, Inc. “The market for Meniscus Repair Systems was valued at US$ 366.8 million in 2018, with CAGR expected to grow by 7.6% over the forecast period from 2019 to 2027.”

Key questions answered in this report:

  • What are the current market trends and dynamics in the meniscus repair systems market and valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product & service type segment holds a larger market share and why?
  • Are low and middle-income economies investing in the meniscus repair systems market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?

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The global market for meniscus repair systems is developing efficiently from 2019 to 2027, accredited to increasing incidences of symptomatic injuries, ACL or meniscus-related sports injuries, prevalence of osteoarthritis among the elderly, injury to the workplace and other trauma cases worldwide. Currently, more than 1.1 million meniscal tears are surgically treated every year in the U.S. Approximately 20% of the procedures are repaired by the meniscus rather than replaced or removed. The launch of new meniscus repair systems with improved biological solutions and improved minimally invasive techniques will drive global market growth. For example, Johnson & Johnson launched the TRUESPAN Meniscal Repair System in May 2018. Mainly intended for use in meniscal repairs and allograft transplant procedures. In addition, new product development with bio-absorbable suture solutions, recent acquisitions and partnerships by leading U.S. companies will drive market growth.

Device miniaturization along with automated suture deployment applications is in demand. In addition, the growing elderly population, along with osteoarthritis, the incidence of sports injuries and awareness of top-level applications for minimally invasive procedures for enhanced future outcomes, will further boost revenue growth during the forecast period. Improving the standard of care and investing heavily in the sports medicine industry, along with arthroscopy, are key factors that increase overall demand on a global scale. Top technology products generating maximum revenue share include Meniscal Cinch II all-inside meniscal repair device, NovoStitch Pro, Sequent® Meniscal Repair Device, CrossFix® Meniscal Repair System and others.

Key Market Movements:

• Globally, the market for meniscus repair systems is growing at 7.6% CAGR for the period from 2019 to 2027.
•Swift expansion of new products in emerging markets and an increasing medical tourism sector in the orthopaedics sector will drive the growth of meniscal repair systems in the Asia Pacific region.
• Key growth factors include increasing global surgical and meniscus repair or implantation procedures and FDA approval of new meniscus repair systems (mainly in the orthopaedics sector)
• Market limitations include high cost of repair systems, post-surgery complications, no or very less technology expansion in the lower economic nations, unstructured reimbursement scenario and a longer healing time for numerous radial or complex tears
• Major players in this vertical are Stryker Corporation, Zimmer Biomet, CONMED Corporation, Arthrex, Inc., Johnson & Johnson, Medtronic Plc, Smith & Nephew plc (Ceterix Orthopaedics), Orteq Sports Medicine Ltd (Saratoga Partners LLC), Arcuro Medical Ltd., EBERLE GmbH & Co. KG, BIOTEK – CHETAN MEDITECH PVT. LTD. and others.

Credence Research is providing Free Sample Get it herehttps://www.credenceresearch.com/sample-request/60060

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