Meniscal Repair Systems Market: Repair devices segment is projected to account for the largest market share
Meniscus plays an important role in human knee and has various functions such as shock absorption, load transmission across the knee joint, and joint nutrition. It occupies nearly 60% contact area between the tibial and femoral cartilage surfaces, contributing to knee joint stability and overall joint conformity. Meniscal tear is one of the common injuries caused during sports and athletics. Severe injury could require meniscus repair surgery. Various devices are used during the surgery such as inserters, depth probe, suture, and other instruments.
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Rise in demand for meniscal repair systems, technological advancements such as automated deployment of sutures & development of miniaturized system, and increase in prevalence of orthopedic and trauma injuries are projected to drive the global meniscal repair systems market during the forecast period. Additionally, launch of new products by market players and increase in emphasis on sports and trauma injuries fuel the growth of the market. For instance, in May 2018, DePuy Synthes launched TRUESPAN Meniscal Repair System, a knee arthroscopy solution to simplify meniscal repair, thereby increasing the reach of arthroscopic procedures in countries in Europe, Middle East, & Africa (EMEA). In April 2018, Ceterix Orthopaedics received FDA approval for its NovoStitch Pro Meniscal Repair System, a next-generation meniscal repair system. The product represents the company’s innovative solution developed for arthroscopic knee repair which will enable it to achieve growth in the market. In April 2016, Zimmer Biomet acquired Cayenne Medical to achieve growth in its sports medicine segment.
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The global meniscal repair systems market can be segmented based on component, indication, end-user, and region. In terms of component, the market can be divided into repair devices, depth probes, inserters, sutures, and others. The repair devices segment is projected to account for the largest market share during the forecast period due to rise in usage of repair devices for meniscal tear and increase in the number of companies offering meniscal repair devices. Based on indication, the global meniscal repair systems market can be classified into meniscal root tears, anterior cruciate ligament (ACL) injuries, and others. The meniscal root tears segment is anticipated to expand at the fastest CAGR during the forecast period due to increase in meniscal tears during sports and other recreational activities. In terms of end-user, the market can be categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to account for the largest market share owing to increase in the number of orthopedic procedures and rise in patient pool.
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The global meniscal repair systems market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the largest market share during the forecast period due to rise in emphasis on sports medicine and increase in the number of sports medicine and trauma care centers. The market in Europe is anticipated to grow at a rapid pace during the forecast period due to increase in the use of orthopedic surgical devices and high demand for technologically advanced meniscal repair systems in countries such as the U.K., Germany, and France. The market in Asia Pacific is expected to expand at the fastest CAGR during the forecast period, driven by rise in awareness about sports medicine, increase in the number of players focusing on emerging markets in Asia Pacific, and rise in geriatric population. The meniscal repair systems market in Middle East & Africa is driven by increase in the number of ambulatory care centers and strengthening health care systems in countries such as Saudi Arabia and the UAE.
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Key players operating in the global meniscal repair systems market are Ceterix Orthopaedics, DePuy Synthes (Johnson & Johnson), Zimmer Biomet, Conmed Corporation, Arthrex, Stryker, Medtronic, BioTek Instruments, Inc., and Arcuro Medical Ltd.
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