Meniscus Repair Systems Market: Insights
Meniscus repair systems is a device intended for use in meniscal repairs and meniscal allograft transplant procedures such as insertion, anchoring or suturing the allograft to the meniscal rim during transplant procedures. A meniscus transplant or repair surgery is performed to repair or replace the damaged or diseased meniscus of the knee.
The rising incidence of diseases such as arthritis, trauma, encountered in sports or other forms of physical exertion, prolonged wear and tear owing to occupational hazards and aggravated by old age. The growing risk factors such as sporting culture and adventure sports such as rugby, old age, sedentary lifestyle, autoimmune diseases and others are driving a large adoption meniscus repair systems among end users.
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Advancements in technology such as development of miniaturized system using advanced chrome based materials, automated deployment of sutures and others is driving the growth of the Meniscus Repair Systems market. The development of bio absorbable sutures has greatly aided the adoption of Meniscus Repair Systems market. The development of lab grown artificial meniscus and imaging probes is another complementary development driving the faster adoption of Meniscus Repair Systems. Thus, product development represents the largest market opportunity and many players are launching ergonomic products with lower needle profile and novel knotting techniques.
However, the constraints, such as lack of trained and experienced surgeons in meniscus transplantation is hampering the growth of meniscus repair systems market. The high cost of surgery coupled with the complications such as risk of infection, pain, and post-surgery stiffness is restricting the market growth. The lack of consensus among surgeons concerning the indications, long-term efficacy, allograft sizing, and fixation techniques is another factor constraining the meniscus repair systems market.
Meniscus Repair Systems Market: Overview
The global market for meniscus repair systems is highly consolidated, representing monopsony characteristics with a handful of players accounting for a large market share owing to the nascent stage of market and the high technological intensity of these devices.
Vendors are engaged in new product launches with novel and proprietary technology. However, improvements in distribution efficiency is the need of the hour as strategic partnership with hospitals is expected to drive growth of Meniscus Repair Systems market. Also, the extensive efforts pertaining to push marketing of Meniscus Repair Systems to end user is likely to boost the growth of Meniscus Repair Systems market. Technology gains from product development represent the largest value proposition over cost.
Meniscus repair systems Market: Regional Outlook
The global meniscus repair systems market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East & Africa. North America dominated by the U.S. accounts for the largest share of the global meniscus repair systems market owing to the concentration of key market players, high awareness and faster uptake of latest technologies. North America region is followed by Europe which is expected to be led by Germany, France and the U.K. The advanced medical devices industry of Germany is a significant driver of the European meniscus repair systems market.
The meniscus repair systems market is expected to be driven by the developed regions of North America and Europe owing to first comer advantages, high per capita income, fast adoption of newer technology, developed healthcare infrastructure, among others. Thus, North America and Europe are expected to generate the largest as well as the fastest growing meniscus repair systems market.
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However, the market is expected to shift in favour of Asia Pacific and Japan markets. Japan is expected to drive a large market owing to its similarities with developed economies and advanced healthcare. In addition, China and India are expected to drive a large meniscus repair systems market share owing to their large population.
The Middle East and Africa meniscus repair systems market is expected to be dominated by the wealthy gulf economies of Saudi Arabia, Kuwait, UAE and Qatar. However, the poor income of African economies coupled with poor social conditions are hampering the meniscus repair systems market in Africa.
Meniscus Repair Systems Market: Key Players
Some of the major vendors operating in the global meniscus repair systems market are Ceterix Orthopaedics, DePuy Synthes (Johnson & Johnson), Arcuro Medical ltd., Arthrex, Inc., Stryker, Medtronic, Cayenne Medical, Inc., BIOTEK, NuSurface, EBERLE GmbH & Co. KG and others.
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