Meniscus Repair Systems Market Set For Robust Growth Owing To Rising Prevalence Of Knee Injuries
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| Meniscus Repair
Systems |
The meniscus repair systems market involves medical devices and techniques
used for repairing tears in the meniscus cartilage of the knee. Meniscus tears
are common knee injuries that occur due to sports activities, accidents, or
age-related wear and tear. Meniscus repair systems help preserve the functions
of the meniscus cartilage and prevent the early onset of osteoarthritis.
Techniques such as arthroscopic meniscal repair and all-inside repair use small
incisions and specialized instruments to access, suture, and secure torn
meniscus fragments. This minimally invasive approach enables faster recovery
and rehabilitation as compared to partial or total meniscectomy.
The global meniscus repair systems market is estimated to be valued at US$ 989.23 Bn in 2024 and is expected
to exhibit a CAGR of 9.4% over the
forecast period of 2024 to 2031. Factors such as the rising geriatric
population, growing participation in sports, increasing obesity rates, and
technological advancements are fueling market growth.
Key Takeaways
Key players operating in the meniscus repair systems are Pfizer Inc., Sanofi
SA, Dr. Reddy€TMs Laboratories, Aspen Holdings, Abbott Laboratories, Leo Pharma
AS, Alexion Pharmaceuticals Inc., Bayer AG, Johnson & Johnson,
Bristol-Myers Squibb Company, Daiichi Sankyo Company, and Boehringer Ingelheim
Pharmaceuticals Inc., among others. These players are focusing on new product
approvals and launches.
The key opportunities in the market include increasing awareness about Meniscus
Repair Systems Market therapies and the development of bioabsorbable
implants and scaffolds for meniscus regeneration. The market is also witnessing
expansion in developing regions due to the rising healthcare expenditure and
patient volumes.
Market Drivers and Restraints
The growing prevalence of knee injuries due to the increasing participation in
sports and rising obesity levels is a major market driver. It is estimated that
over 850,000 knee arthroscopic surgeries are performed each year in the U.S.
for meniscal tears. The development of innovative arthroscopic techniques is
also fueling the adoption of minimally invasive repair systems.
However, the high cost of surgeries involving meniscus repair systems and
scarcity of skilled surgeons can restrain the market growth. Additional
shortcomings of some repair techniques like sutures pulling out of the meniscus
are challenges that need to be addressed.
Segment Analysis
The meniscus repair systems market is dominated by arthroscopic meniscectomy
sub segment followed by meniscal repair sub segment. The arthroscopic
meniscectomy sub segment holds more than 60% of total meniscus repair systems
market share owing to large number of procedures performed each year for
meniscus tears which are unrepairable and require partial or total
meniscectomy. Meniscal repair sub segment is gaining traction due to advantages
of repair over meniscectomy such as prevention of osteoarthritis and better
knee function over long term. It allows body to heal tears naturally rather
than removing torn portion.
Global Analysis
North America dominates the global meniscus repair systems market due to high
incidence of sports injuries and meniscal tears in the region. Presence of
major players and developed healthcare infrastructure supports market growth.
Asia Pacific is the fastest growing region on account of rapidly developing
healthcare systems, rising medical tourism, and growing geriatric population
prone to knee injuries in countries like China and India. Increasing
investments by players for facilities and rising awareness about benefits of
meniscus repair over resection further stimulates regional market.
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Repair Systems Market
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