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Global Meniscus Repair Systems Market 2023: Increasing Clinicians Preference for Arthroscopic All-inside Meniscus Repair to Shape Performance through 2033
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According to the OECD stats, globally, approximately 18% of women and 10% of men aged 60 years and above suffer from symptomatic injuries in their anterior cruciate ligament and meniscus, and this predisposes them to osteoarthritis later in their lives. The need for meniscus repair surgeries for the prevention of osteoarthritis is expected to boost the demand for meniscus repair systems over the forecast period.
Key manufacturers in the meniscus repair systems market follow different strategies to grow their businesses as well as to penetrate the meniscus repair systems market. Regulatory approvals and product launches are some of the strategies that are most commonly followed by players in the meniscus repair systems market. Orthopedic device manufacturers are working on expanding their portfolio of sports medicine products owing to the increasing demand for new medical devices and systems for the treatment of sports injuries. Some of these companies recently launched meniscus repair systems in the global market. For instance, in August 2018, Ceterix orthopedic launched the Novostich Pro meniscal repair system. Similarly, in May 2018, Johnson & Johnson (Depuy Synthes) announced the launch of the TRUESPAN meniscal repair system.
Small market players or startup companies aim at obtaining regulatory approval for their meniscus repair systems. For instance, in June 2018, Arcuro Medical Ltd. received regulatory clearance from the U.S. Food and Drug Administration for its SuperBall meniscus repair system. The patent for SuperBall meniscus repair systems by Arcuro Medical Ltd. has been granted in the U.S. and China. The company is awaiting regulatory approval in Europe and Israel. Increasing product launches and FDA approvals are expected to propel the meniscus repair systems market over the forecast period.
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Some of the strategic initiatives undertaken by most of the large players in the meniscus repair systems market are acquisitions and partnerships. Some of the meniscus market players that have adopted this strategy include Smith & Nephew, Zimmer Biomet, and Stryker Corporation. For example, in December 2018, Smith & Nephew plc. announced the acquisition of Ceterix Orthopedics Inc. Similarly, Stryker Corporation expanded its meniscus repair systems portfolio through the acquisition of Ivy Sports Medicine, LLC. Zimmer Biomet acquired Cayenne Medical in April 2016. Through this acquisition, Zimmer Biomet added the CrossFix meniscus repair system to its product portfolio. These major acquisitions and mergers provide significant opportunities to players in the meniscus repair systems market to expand their global presence and product portfolio. Acquisitions, partnerships, and mergers among key market players are expected to fuel the growth of the meniscus repair systems market.
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Key Questions Answered in This Report.
What are the Roadblocks for Meniscus Repair Systems Market Suppliers?
What are the Key Opportunities for Meniscus Repair Systems Market Manufacturers?
How is Focus on Safety Influencing Meniscus Repair Systems Market Demand?
What is the Regulatory Impact on Global Sales of Meniscus Repair Systems Market?
Which Region Offers the Largest Opportunity for Sales of Meniscus Repair Systems Market?
Where Does the U.S. Stand in the Market for Meniscus Repair Systems Market?
What Is the Outlook for Meniscus Repair Systems Market Manufacturers in China?
Why is Germany a Lucrative Market for Meniscus Repair Systems Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Meniscus Repair Systems Market?
Why is There High Demand for Tires in Meniscus Repair Systems Market?
Why are Sales of Meniscus Repair Systems Market Surging?
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