PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290503
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290503
Global Meniscus Repair System Market is valued approximately at USD 498 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 8.60% over the forecast period 2023-2030. Meniscus Repair System is used to replace or repair the diseased or injured meniscus in the knee. An apparatus known as a meniscus repair system is made for use during meniscal allograft transplant procedures, such as inserting, anchoring, or suturing the allograft to the meniscal rim. It is majorly driven by the growing prevalence of osteoarthritis, increasing incidences of sports injuries also rise in technological advancement and increase in research and development activities by market key players in the field of meniscus repair implants and systems boost the market growth.
According to data published by the Centers for Disease Control and Prevention (CDC), osteoarthritis will be the most common type of arthritis in 2021, affecting 58.5 million people. This is expected to drive the market for meniscus repair systems to expand. Meniscus repair systems are also in high demand as a result of growing prevalence of knee osteoarthritis. For instance, in November 2020, the National Center for Biomedical Information (NCBI) reported that approximately 86.7 million people worldwide aged 20 and older had knee osteoarthritis. As a result, the market expands as the incidence of knee osteoarthritis rises. Additionally, advancement in technology brings new prospects to the market which also increasing demand for minimally invasive surgeries, there is a growing need for meniscus repair systems that can be used with arthroscopic techniques. However, the high cost of meniscus repair operations is expected to limit the adoption of meniscus repair systems.
The key regions considered for the Global Meniscus Repair System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 holding the largest market share because of favorable reimbursement regulations, the increased prevalence of knee osteoarthritis, and the expanding understanding of meniscal healing processes. Furthermore, there has been an increase in the number of meniscal-related medical treatments as a result of the availability of better technological improvements, as well as an increase in the number of sports support. According to the Centers for Disease Control and Prevention about 30 million people in the United States suffer from osteoarthritis, with 1 million tasks played out every year, meniscus medical procedure is perhaps one of the most well-known surgeries in the US. Asia Pacific is expected to grow significantly during the forecast period, owing to the rise in the prevalence of sports injuries and orthopaedic illnesses, as well as the expanding elderly population, are driving market expansion in this area.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures are dummy in nature, final lists may vary in the final deliverable