Collagen Meniscus Implant Market to Find Better Growth with US$ 563.0 Million By 2027 | CAGR: 4.7%: Coherent Market Insights
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Global Collagen Meniscus Implant Market, by Age Group (Pediatric and Adult), by End User (Hospitals, Clinics, and Ambulatory Surgical Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 389.5 million in 2019, and is expected to exhibit a CAGR of 4.7%, during the forecast period (2019-2027).
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Collagen meniscus implant is a biocompatible and resorbable Type1 collagen matrix, which is developed to restore the segmental loss of meniscal tissue in the knee. It is comprised of porous cross-linked matrix scaffold that facilitates ingrowth of the body’s own cells.
Rising number of meniscal tear cases that could result into arthritis is expected to drive growth of the global collagen meniscus implant market growth the forecast period. According to the Centers for Disease Control and Prevention (CDC) factsheet 2018, around 29.3% and 49.6% population aged 45 to 64 and above 65 years, respectively were diagnosed with arthritis from 2013 to 2015 in the U.S. Moreover, according to the reports published by the American Academy of Physical medicine and Rehabilitation 2017, incidence rate of knee meniscal injuries was 61 cases per 100,000 individuals in the U.S.
Browse 26 Market Data Tables and 25 Figures spread through 121 Pages and in-depth TOC on “Global Collagen Meniscus Implant Market, by Age Group (Pediatric and Adult), by End User (Hospitals, Clinics, and Ambulatory Surgical Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027”
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Rising incidences of sports injuries combined with increasing geriatric population is expected to drive growth of the global collagen meniscus implant market during the forecast period. According to the American Journal of Sports Medicine 2014 study, the most common surgical intervention performed by orthopedic surgeons is for meniscal lesions. According to the same source, over one million surgical interventions involving meniscus are performed annually in the U.S. and around 400,000 in Europe. Moreover, adoption of inorganic strategies such as collaboration and acquisition by major players in the collagen meniscus implant market, is expected to drive growth of the market. For instance, in October 2019, Zimmer Biomet entered into an exclusive license agreement with Sweden-based medical device company, Bactiguard. The licensing agreement involved usage of Bactiguard’s infection prevention technologies with Zimmer Biomet’s orthopedic implants. Moreover, in March 2017, Active Implants LLC secured funding from LS Health Science Partners, to continue clinical trials of NUsurface Meniscus Implant.
Key Takeaways of the Global Collagen Meniscus Implant Market:
- The global collagen meniscus implant market is expected to register a CAGR of 4.7% during the forecast period (2019-2027), owing to increasing initiatives by key players to develop novel collagen meniscus implant.
- Increasing clinical trials by key players on collagen meniscus implants is expected to drive the global collagen meniscus implant market growth over the forecast period. For instance, in December 2015, Active Implant LLC initiated clinical trial study to gather safety and probable clinical benefit data on the NUsurface Meniscus Implant after the treatment of the patients with post-meniscectomy pain syndrome, Osteoarthritis, and Knee injuries.
- Major players operating in the global collagen meniscus implant market include Zimmer Biomet Holdings, Inc., RTI Surgical Holdings, Inc., Stryker Corporation, Orthonika, and Active Implants LLC
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