Meniscus Repair Systems Market Size, Share & Trends Analysis Report By Product Type (All-inside Meniscal Repair System, Inside-out Meniscal Repair System), By Clinical Application, By Region, And Segment Forecasts, 2023 - 2030

Meniscus Repair Systems Market Size, Share & Trends Analysis Report By Product Type (All-inside Meniscal Repair System, Inside-out Meniscal Repair System), By Clinical Application, By Region, And Segment Forecasts, 2023 - 2030

Meniscus Repair Systems Market Growth & Trends

The global meniscus repair systems market size is expected to reach USD 697.3 million by 2030 to expand at a CAGR of 5.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is primarily driven by the increasing aging population and surging incidence of lifestyle diseases. Improving levels of healthcare access in emerging markets is anticipated to fuel meniscus repair systems market growth.

The launch of advanced meniscus repair systems lowers the prices of older device forms substantially. This aids in increasing their adoption rates across developing economies including the Middle East and Asia Pacific, where none to partial medical reimbursement is observed. Such increasing outcome of these activities is anticipated to accelerate the overall market growth in the forecast period.

Increasing cases of road accidents and sports activities is fueling the demand for meniscus repair systems. Urbanization of emerging markets adds to the risk of fractures. In addition, with the rise in professional sporting activities, sports-related injuries are increasing. Knee injuries account for approximately 41% of all sports injuries. As per the Biocomposites company, there are more than 200,000 Anterior Cruciate Ligament (ACL) injuries every year across the U.S., out of which, around half of them need a knee reconstruction. Such rise in sports-related cases is predicted to contribute towards the overall product revenue generation.

The COVID-19 outbreak negatively impacted the meniscus repair systems market in 2020 owing to the low product demand and sales. The meniscus repair systems market is mostly surged by surgeries, injuries, and access to physicians, all of which was impacted by the pandemic and the related measures. The market progressively recovered at the end of 2021 as surgery volumes increased and patient visits resumed.

Meniscus Repair Systems Market Report Highlights

• All-inside meniscal repair systems segment held the largest market share in 2022 as they provide faster post-operative recovery and decreased surgical time.
• Radial tear segment held a significant market share in 2022 owing to the rising cases of sports injuries.
• Hospitals segment held a momentous market share in 2022 owing to the increasing occurrence of knee and sports-related surgeries in hospitals.
• North America is the leading region in 2022 owing to the presence of advanced healthcare facilities and leading manufacturers across the U.S.
• Asia Pacific is anticipated to grow at the fastest growth rate during the forecast period due to the rising geriatric population majorly in Japan and China and improving access to healthcare.

Please note The report will be delivered in 3-8 business days upon order notification.