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.
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.
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Market Drivers and Trends
An increase in sports-related injuries and the growing elderly population, prone to degenerative meniscal tears, fuels demand for effective treatment options. Additionally, technological advancements in arthroscopic procedures and minimally invasive techniques enhance the efficacy and safety of meniscus repair systems, encouraging adoption.
Further, the rising awareness among healthcare professionals and patients about the benefits of preserving meniscal tissue over partial or total meniscectomy drives market growth. Additionally, favorable reimbursement policies and increasing healthcare expenditure further propel the demand for meniscus repair systems worldwide. These drivers are likely to propel market expansion.
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Market Restraints and Challenges
The meniscus repair system market faces several restraints and challenges. Firstly, limited awareness among healthcare providers and patients about the availability and benefits of meniscus repair procedures compared to traditional meniscectomy poses a challenge to market growth. Secondly, high procedure costs and reimbursement limitations may hinder patient access to these treatments. Additionally, technical complexities associated with performing meniscus repair surgeries and potential complications during the procedure present obstacles. Moreover, variability in patient outcomes and the lack of long-term data on the effectiveness of meniscus repair systems may affect adoption rates. Hence, these factors are expected to restrain the growth of the market during the forecast period.
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
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.
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