The North America Meniscus Repair Systems Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
Hospitals are being urged to improve their equipment and services constantly due to rising knowledge of the availability of cutting-edge items. In addition, the adoption of procedures linked to the meniscus has also increased due to reimbursement coverage for meniscus repair. Such elements enable patients to choose sophisticated and expensive technologies, increasing overall income.
Additionally, it is predicted that an increase in bone-related diseases, traffic accidents, and obesity would boost market expansion overall. One of the primary causes of arthritis is obesity. Therefore, a rise in knee-related injuries and traffic accidents are two critical drivers anticipated to fuel market expansion. Meniscus preservation has received more attention recently as a means of shielding young patients against osteoarthritis. The meniscus is crucial to the stability of the knee joint. Therefore, surgery to repair the meniscus is very important in preventing osteoarthritis.
According to the National Center for Injury Prevention and Control of the Centers for Disease Control and Prevention (CDC), there will be around 22,887,137 visits to emergency departments for non-fatal injuries in the United States year 2020. In addition, the elderly population in the area is another element boosting demand for meniscus repair devices. By 2030, more than 80 million people over 65 will be living in Canada and the United States, up from just under 60 million in 2019. This supports the growth of the regional market.
The US market dominated the North America Meniscus Repair Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $172.7 million by 2028. The Canada market is poised to grow at a CAGR of 7.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.7% during (2022 - 2028).
Based on Product Type, the market is segmented into All-inside, Inside-out, Outside-in and Meniscal Root Repair System. Based on Application, the market is segmented into Radial Tear, Flap Tear, Horizontal Tear, Complex Tear and Others. Based on End-use, the market is segmented into Hospitals, Ambulatory Surgical Centers, Specialized Orthopedic Clinics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Meniscus Repair Systems Market is Estimated to reach $618.5 Million by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson & Johnson (DePuy Synthes), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, ConMed Corporation, Agilent Technologies, Inc., Arcuro Medical Ltd. (Trendlines Group Ltd.), Arthrex, Inc., and Double Medical Technology Inc.
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