The Meniscus Repair System Market was valued at US$ 0.5 billion in 2022 and it is anticipated to grow up to US$ 1.1 billion by 2032, at a CAGR of 8.0% during the forecast period.
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A meniscus rupture is a frequent injury to the meniscus, which is a component of the knee. In the knee joint, the menisci consist of two crescent-shaped pads of thick, rubbery shock-absorbing cartilage. The Meniscal Repair System is designed for use during meniscal repair and allograft transplant surgeries. An outpatient surgical approach to replace damaged knee cartilage is arthroscopic meniscus repair. A torn meniscus is treated using a number of minimally invasive procedures, and recovery requires postoperative protection. These systems are generally comprised of a collection of specialized equipment and gadgets utilized during arthroscopic surgery for fixing the meniscus. Meniscus repair systems of many varieties are available on the market, including all-inside meniscal repair systems, outside-in meniscal repair systems, and others.
Market Drivers and Trends
Increased technical progress and research & development activities by market-leading players in the industry of meniscus repair implants and systems drive market expansion. In recent years, advancements in minimally invasive arthroscopy procedures have become the norm for meniscus surgery, since they allow for smaller incisions and quicker recovery periods. For example, Arthrex Inc.’s Meniscal Root Avulsions technology allows for less invasive RetroConstruction repair, which helps to preserve bone while completing meniscal root repair. In addition, biological implants produced from animal tissue, synthetic materials are being utilized to fix, or substitute damaged meniscus tissue. These drivers are likely to propel market expansion.
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Market Restraints and Challenges
The high cost of meniscus repair operations, on the other hand, is expected to limit the widespread use of meniscus repair systems throughout the projection period. Meniscus repair procedures are expensive because they need specialized medical equipment and technology, such as robotic-aided surgery systems and arthroscopy tools. Furthermore, meniscus repair operations are sophisticated and need the expertise of a professional surgeon, whose services might be pricey. As a result, the high surgical costs are unaffordable for a small number of patients, limiting market expansion. For example, the cost of meniscal tear surgery ranges between $7,400 and $9,000, depending on the patient’s age. Furthermore, meniscus repair devices, surgery, and other associated costs add to the entire cost of surgery. As a result, the high cost of meniscus repair procedures stifles market growth. Hence, these factors are expected to restrain growth of the market during the forecast period.
Major Players in the Meniscus Repair System Market
The key players studied in the Meniscus Repair System Market are Healthium Medtech , Smith & Nephew plc, Stryker Corporation , Arthrex, Inc. , Double Medical Technology Inc. , Zimmer Biomet Holding Inc., Arcuro Medical, Chetan Meditech Pvt. Ltd., Johnson & Johnson, and CONMED Corporation among others.
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COVID-19 Impact
The COVID-19 pandemic had a substantial influence on the meniscus repair systems industry because many elective procedures, including meniscus repair surgeries, were postponed or cancelled during the pandemic’s initial wave. This precaution is taken to ensure that COVID-19 patients have access to hospital beds and healthcare professionals, as well as to prevent viral transmission between patients and across patients and hospital employees. This resulted in a decrease in demand for meniscus repair technologies and a slowing of market growth. For example, according to a June 2020 paper released by the National Centre for Biomedical Research (NCBI), the incidence of orthopaedic injuries reduced during the pandemic, lowering demand for meniscus repair devices. As a result, the COVID-19 pandemic has a detrimental influence on the meniscus repair systems industry.
Meniscus Repair System Market Segmentation
By Product Type
- All-inside Meniscal Repair System
- Inside-out Meniscal Repair System
- Outside-in Meniscal Repair System
- Meniscal Root Repair System
By Application
- Radial tear
- Horizontal tear
- Vertical tear
- Complex tear
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Specialized Orthopedic Clinics
- Others
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