Meniscus Repair System Market to Reach Over $1.2 Billion by 2034, Says Fact.MR

Manufacturers are adopting stem cell therapies to address post-injury meniscus repair challenges, likely driving growth in the meniscus repair systems market

ROCKVILLE , MD, UNITED STATES, December 4, 2024 /EINPresswire.com/ -- The global meniscus repair system market recorded a valuation of around US$ 363.9 million in 2019, per the analysis. Fact.MR estimates that the sales of meniscus repair systems in 2024 are estimated to reach US$ 356.2 million.

The growth rate for the meniscus repair systems industry is predicted to be 8.6% over the next ten years. Ongoing research to preserve the meniscus tissue and approaches to improve meniscus repair is likely to enhance the market growth and is expected to reach US$ 1,268 million by 2034.

Progress in arthroscopic knee surgery and recovery methods is the key factor that has been propelling the demand for meniscus repair systems in recent years. Greater rates of knee injuries or meniscal tears during sports and outdoor activities have increased the demand for minimally invasive surgeries, further boosting the market.

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“Transition from resection to preservation of natural meniscus tissue of knee is expected to increase the importance and adoption of meniscus repair systems in the coming days. Meanwhile, new market players can scale up their business and improve brand value by collaborating with orthopedic societies and associations,“ says a Fact.MR analyst.

Key Takeaways from the Global Meniscus Repair System Market Study Report

The worth of the meniscus repair system market in North America is estimated to be around US$ 209 million in 2024.
The United States accrues for almost 90% of the North American market in 2024 and is projected to expand further with a CAGR of 6.9%.
The meniscus repair system industry in East Asia is estimated to be worth around US$ 186.1 million in 2024.
China is the leading manufacturer of meniscus repair systems in East Asia and contributes more than 50% of its market share.
Through the forecast years, the sales of meniscus repair systems in China are likely to evolve at an impressive 12.5% CAGR.
Leading Players Driving Innovation in the Induced Pluripotent Stem Cell Market:
Medtronic Plc., Johnson & Johnson, Smith & Nephew Plc, Zimmer Biomet, Stryker Corporation, Arthrex, Inc., Conmed Corporation, Arcuro Medical Ltd

Country-wise Insights

The meniscus repair system industry in North America is expected to be valued US$ 209 million by 2024. This year, the regional market in the United States, worth US$ 186.1 million, is estimated to account for over 89.2% of total sales in North America.

Meniscus injuries and other degenerative knee disorders are becoming more widespread in the United States as the country's population ages. In the next days, industry participants in the United States should expect an increase in domestic demand to serve the growing number of senior patients. According to market estimations, sales of meniscus repair systems would likely expand with a CAGR of 6.9% between 2024.

In contrast, the demand for meniscus repair systems in Canada has been growing at a faster pace compared to the United States in recent years. According to Fact.MR estimates, the regional market for meniscal tear treatment systems is expected to experience a year-on-year growth rate of 8.9% during the forecast period. Following this rapid growth, the Canadian meniscus repair system market is projected to reach a value of US$ 34 million by 2034, up from US$ 14.5 million in 2024.

Competitive Landscape

The overall market is highly competitive as many medical instrument manufacturers have entered the orthopedic surgery devices sector in the last few years. Federal support for emerging players in Asian countries to strengthen the healthcare infrastructure is likely to further intensify the rivalry among competitors in this sector. Moreover, manufacturers are turning toward material-based systems to aid meniscus healing.

Growth Drives for Meniscus Repair System Market

Advancements in Surgical Techniques: Continuous improvements in surgical methods, such as minimally invasive procedures and robotic-assisted surgeries, have enhanced the effectiveness of meniscus repair, expanding its clinical applications.
Expanding Therapeutic Applications: Meniscus repair systems are gaining traction in orthopedic and sports medicine, particularly in treating knee injuries and degenerative conditions.

Growing Investment and Funding: Both public and private sectors are heavily investing in meniscus repair research and commercialization, supporting startups and research institutions in developing advanced repair systems.
Rising Prevalence of Knee Injuries: The increasing incidence of knee injuries, particularly in athletes and the aging population, highlights the need for innovative treatment solutions, positioning meniscus repair systems as a critical therapeutic option.

Applications in Sports Medicine and Orthopedics: Meniscus repair systems are increasingly used in sports medicine, with growing applications in joint preservation, pain management, and rehabilitation.

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Recent Developments by the Meniscus Repair System Industry Participants

In July 2021, Smith & Nephew Company introduced their innovative FAST-FIX FLEX meniscus repair equipment with a flexible shaft and needle. The company claims it is going to be beneficial for patients in the long run and can be utilized for knee joint rehabilitation. Consequently, the firm established a solid presence in the knee joint repair market with the launch of this innovative meniscus repair system.

In December 2020, Healthium Medtech introduced an innovative meniscal repair tool, ‘Surestitch,' for which design patents were applied in India and the United States. Despite being part of the company's Sironix arthroscopy line, it features a unique ergonomic product design that simplifies meniscal repair procedures.

Genesis Biologics and Arturo Medical formed a cooperation in June 2020. With this collaboration, they hope to promote and sell the SuperBall meniscus repair gadget throughout the United States.

Check Out More Related Studies Published by Fact.MR Research:

Syndesmosis Repair System Market is projected to achieve a value of US$ 143.25 million by 2024. Furthermore, the market is anticipated to grow at a CAGR of 8.5%, reaching US$ 322.95 million by 2034.

Tricuspid Valve Repair Market is expected to reach a valuation of US$ 487.2 million by the end of 2034, up from US$ 224 million in 2024, with a CAGR of 8.1% between 2024 and 2034.

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