Global Meniscus Repair Systems Market - 2022-2029

Global Meniscus Repair Systems Market - 2022-2029

Market Overview

The global meniscus repair systems market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

A meniscal repair is a keyhole surgery procedure for repairing a torn meniscus. It is a minimally invasive procedure frequently performed as an outpatient procedure.

Market Dynamics

The factors influencing the global meniscus repair systems market are the need for meniscus repair surgery to prevent osteoarthritis and the growing prevalence of osteoarthritis.

The need for meniscus repair surgery for the prevention of osteoarthritis is expected to drive the market growth

A meniscal repair is a keyhole surgery procedure for repairing a torn meniscus. It is a minimally invasive procedure frequently performed as an outpatient procedure. Arthroscopic knee surgery is the most common type of knee surgery, with nearly a million procedures performed each year in the United States. The most common procedure is arthroscopic partial meniscectomy (APM). Traumatic meniscus tears are commonly associated with sports and occur in relatively young people. A traumatic meniscus tear in the knee, followed by partial or total meniscectomy, is linked to an increased risk of knee osteoarthritis (OA).

In comparison to APM (arthroscopic partial meniscectomy), the goal of meniscus repair is to restore meniscus function and reduce the risk of later knee OA by restoring meniscus function. The type, extent, and location of the tear, the quality of the meniscus tissue, and any associated ligament injuries all influence the chances of a successful meniscus repair. The procedure is usually indicated when the tear is longitudinal and fully located in the peripheral vascularized zone (closest to the joint capsule). Individual surgical preferences, patient characteristics and requests (e.g., return to sports), and the likelihood of a successful rehabilitation (patient compliance, etc.) may also play a role in the decision to repair or replace the meniscus. Hence, the increasing need for meniscus repair for different sports injuries is expected to drive market growth.

Limitations associated with meniscus repair surgery are expected to hamper the market growth

The meniscus repair surgery's risk of infections is expected to restrain the market growth. For instance, Surgical-Site Infections (SSIs) cost the US healthcare system more than $3 billion per year, with more than 150,000 new cases reported each year. The additional surgeries required for the treatment of infected patients and extended hospital stays and readmissions account for a large portion of these costs.

Even though meniscus repair is a low-risk procedure, the risk of infection, nerve injury, knee stiffness, and excessive bleeding is likely to persist during and after the procedure. As a result, one of the major factors expected to hamper the growth of the meniscus repair systems market is the risks associated with surgeries performed with the use of meniscus repair systems.

COVID-19 Impact Analysis

On a national and local level, the 2020 COVID-19 pandemic changed the way health care works. Patients' access to healthcare professionals, including orthopaedic surgeons, has been severely limited due to the pandemic. The nature of work in orthopaedic wards has also changed the orthopaedic admission protocols. Some healthcare workers became infected with COVID-19 and had to be quarantined; others were transferred to care for COVID-19 positive patients. The number of patients admitted to orthopaedic wards has increased due to these changes. Elective surgical procedures, including arthroscopies, were limited or halted in some orthopaedic departments due to an increase in new COVID-19 cases. However, numerous players' increased efforts to bring innovations to their offerings during the post-pandemic is expected to boost revenue share. For instance, Smith+Nephew, in July 2021, launched FAST-FIX FLEX Meniscal Repair System, which is expected to boost the market growth in the forecast period.

Segment Analysis

The All-inside Meniscus Repair System is expected to dominate the market growth

The increasing product launches and benefits of all-inside meniscus repair systems are expected to drive the market growth. The arthroscopist can use the arthroscopic all-inside meniscus suturing technique to place vertically oriented sutures through peripheral posterior horn tears located posterocentral without the risks of nerve, vessel, or posterior capsular entrapment that both the outside-in and inside-out arthroscopic methods have. Under arthroscopic control, this technique introduces new instrumentation that allows the surgeon to place sutures and tie suture knots intraarticularly. Most clinicians prefer the all-inside meniscal repair technique over other techniques because it has lower complication rates and morbidity than other techniques. All-inside techniques have been developed to cut down on surgery time, technical difficulty, and the risk of damaging neurovascular structures. Because of the numerous advantages associated with the all-inside technique, all-inside-based meniscus repair systems and devices are gaining popularity in the meniscus repair systems market. Many companies are launching all-inside meniscus systems, and is expected to boost the market growth. For instance, On 7th July 2021, Smith+Nephew launched the FAST-FIX FLEX Meniscal Repair System, which is the only device with a surgeon-guided, bendable needle and shaft that allows access to all zones of the meniscus. It employs an all-inside approach that may eliminate the need for additional incisions, reduce the risk of neurovascular injury, and improve procedural efficiency to allow for faster surgery times.

Geographical Analysis

North America region is expected to hold the largest market share in the global meniscus repair systems market

The increasing prevalence of osteoarthritis and the demand for meniscus repair systems for its prevention is expected to drive the market growth in this region. For instance, according to the Centers for Disease Control and Prevention, osteoarthritis affects around 30 million people in the United States. With one million procedures performed each year, meniscus surgery is one of the most common surgical procedures in the United States. Moreover, the increasing FDA approvals in this region is expected to boost the market growth. In April 2018, Ceterix Orthopaedics, Inc.'s NovoStitch Pro Meniscal Repair System was approved by the US Food and Drug Administration (FDA). This next-generation meniscal repair system represents a significant advancement in the product line, with enhanced technical features that make it easier to use and improve the surgeon's workflow.

Competitive Landscape

The global meniscus repair systems market is moderately competitive with mergers, collaborations, and product launches. Some of the key players in the market are Johnson & Johnson, Smith & Nephew Plc, Zimmer Biomet, Stryker Corporation, Arthrex, Inc., Conmed Corporation, and Arcuro Medical Ltd.

Smith & Nephew Plc

Overview: Smith & Nephew plc, or Smith+Nephew, is a British multinational medical equipment manufacturer based in Watford, England. The company was founded in 1856.

Product Portfolio: The only device with a surgeon-guided, bendable needle and shaft that allows access to all zones of the meniscus is the FAST-FIX FLEX Meniscal Repair System. Improving access increases the chances of repairing the meniscus rather than removing it, which benefits the patient in the long run.

Key Development: On 7th July 2021, Smith+Nephew launched the FAST-FIX FLEX Meniscal Repair System, the only device with a surgeon-guided, bendable needle and shaft that allows access to all zones of the meniscus.

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