Meniscus Repair System Market Set for Exponential Growth, Predicted to Surpass USD 1.04 billion by 2031
Allied Market Research published a report, titled, “Meniscus Repair System Market by Product (All inside meniscal repair system, inside out meniscal repair system, Outside in meniscal repair system, Meniscal root repair system), by Application (Radial tear, Horizontal tear, Vertical tear, Complex tear, Others), by End User (Hospitals, Ambulatory Surgical Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.”According to the report, the global Meniscus Repair System Market Size generated USD 458.6 million in 2021 and is estimated to reach USD 1.04 billion by 2031 witnessing a CAGR of 8.6% from 2022 to 2031.
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
What are the factors driving the 𝐌𝐞𝐧𝐢𝐬𝐜𝐮𝐬 𝐑𝐞𝐩𝐚𝐢𝐫 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭?
Surge in the prevalence of osteoarthritis, rise in the incidence of sports injuries, and increase in the number of product launch and product approval for meniscus repair system drive the global meniscus repair system market. However, high cost of meniscus repair surgeries due to their complexity and requirement of skilled surgeon restrict the market growth. On the other hand, rise in technological advancement and increase in research and development activities by market key players in the field of meniscus repair implants and systems will present new growth opportunities for the global meniscus repair system market in the coming years.
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𝐓𝐨𝐩 Meniscus Repair System 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
- Arthrex, Inc.
- Arcuro Medical
- Stryker Corporation
- Johnson & Johnson
- Double Medical Technology Inc.
- Smith & Nephew plc
- Chetan Meditech Pvt. Ltd.
- Zimmer Biomet Holding Inc.
- CONMED Corporation
- Healthium Medtech
Meniscus Repair System 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: –
On the basis of product, the all inside meniscal repair system segment contributed to the largest share of more than two-fifths of the global meniscus repair system market revenue, and is expected to retain its dominance by 2031. Also, the same segment would portray the fastest CAGR of 9.2% during the forecast period. This is due to the surge in the number of key players who manufacture all-inside meniscus repair systems and rise in the number of product launch and product approvals for meniscus repair systems.
Based on application, the complex tear segment garnered the highest share in 2021, holding around one-third of the global meniscus repair system market revenue, and is expected to retain its dominance by 2031. The same segment is projected to witness highest CAGR of 9.5% from 2022 to 2031. This is due to increase in the prevalence of knee osteoarthritis and sports injuries to knee. The report also analyzes vertical tear, horizontal tear, radial tear, and others segments.
In terms of end user, the hospitals segment contributed to the largest share of more than three-fifths of the global meniscus repair system market in 2021, and is expected to maintain progressive growth during the forecast period. The same segment is projected to witness highest CAGR of 8.9% from 2022 to 2031, owing to rise in number of hospitals and increase in the geriatric populations. The report also discusses ambulatory surgical centers, and others segment.
By region, North America accounted for the highest share in 2021, holding more than one-third of the global meniscus repair system market revenue, and is projected to rule the roost by 2031. This is due the higher adoption of advanced meniscal repair systems, rise in geriatric population suffering from knee osteoarthritis, availability of well-developed healthcare infrastructure, and surge in prevalence of knee injuries in the region. The Asia-Pacific region, simultaneously, would portray the fastest CAGR of 9.7% during the forecast period. This is attributed to improvement in health awareness, rise in incidences of road accidents, increase in disposable income, development in healthcare facilities, and surge in healthcare expenditure in this region.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
- Which region has more opportunities?
By Region Outlook
- North America
(U.S., Canada, Mexico)
(Germany, France, UK, Italy, Spain, Rest of Europe)
(Japan, China, India, Rest of Asia-Pacific)
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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- The Wire Times