The collagen meniscus implant market was valued at US$ 308.6 million in 2018, expected to grow at a CAGR of 5.3% during the forecast period from 2019 to 2027.
The global collagen meniscus implants market is increasing proficiently from 2019 to 2027 accredited to increase in hospital admissions for a sports-related knee injury, osteoarthritis, joint overloading, accidents or trauma cases and others along with the growing number of meniscectomy procedures. Upgraded bioabsorbable technology in meniscus implants will enhance the demand, e.g. CMI implant type I, CMIXL - the next generation and others. Increasing acquisition strategies, new technology expansion, and product launch will further drive the market growth globally.
In Nov 2015, Ivy Sports Medicine (now Stryker), declared the first orthopedic implantation of its Collagen Meniscus Implant in the United States. Increasing the prevalence of chronic and acute meniscus tears in the geriatric population will enhance market growth. In the U.S., incidences of acute meniscal tears are more than 60 cases per 100,000 individuals.
Moreover, the population older than 60 years of age, the rate of degenerative meniscal injury is around 55-60%. Every year, around one million surgical procedures related to meniscus resection are performed in the U.S., which will drive the market growth in the North America region. According to recent studies and research, Collagen Meniscus Implant (CMI) for medial meniscal substitution has shown improved clinical outcomes with higher safety.
Top manufacturing companies focused on novel product launch and FDA approval on a global scale, mainly in the U.S. and EU markets. The North America market contributed maximum revenue attributed to the increasing prevalence of bone-related disorders, sports injuries (soccer, volleyball, basketball, and athletics), arthritis, joint instability due to knee injury, a large pool of geriatric population, and domicile of key manufacturers in the U.S. market. Many global manufacturers are focusing on widespread investments to further launch new equipment and tools utilized for meniscus implantation procedures.
Key Market Movements
Globally, the collagen meniscus implant is growing at a CAGR of 5.3% for the period from 2019 to 2027
Growth in the manufacturing of biocompatible and bioabsorbable materials with enhanced shelf life will increase the product penetration
Increased health awareness related to osteoarthritis, sports injuries, fractures, and implantation procedures will drive market growth.
Asia-Pacific region will grow at a significant pace owing to developments in healthcare infrastructure, enhanced technology expansion, rise in medical expenditure, and medical tourism.
New product launch along with U.S. FDA approval will drive the market growth globally
Major players in this vertical are RTI Surgical, Active Implants, Orthonika, Stryker Corporation, Zimmer Biomet, Biofixt and others
Key Topics Covered
2. Executive Summary 2.1. Market Snapshot: Global Collagen Meniscus Implant Market 2.2. Global Collagen Meniscus Implant Market, by Age Group, 2018 (US$ Mn) 2.3. Global Collagen Meniscus Implant Market, by End-user, 2018 (US$ Mn) 2.4. Global Collagen Meniscus Implant Market, by Geography, 2018 (US$ Mn)
3. Market Dynamics 3.1. Introduction 3.1.1. Global Collagen Meniscus Implant Market Value, 2017-2027, (US$ Mn) 3.2. Market Dynamics 3.2.1. Market Drivers 3.2.2. Market Restraints 3.3. Attractive Investment Proposition, by Geography, 2018 3.4. Market Positioning of Key Players, 2018 3.4.1. Major Strategies Adopted by Key Players
4. Global Collagen Meniscus Implant Market, by Age Group, 2017-2027 (US$ Mn) 4.1. Overview 4.2. Pediatrics 4.3. Adults
5. Global Collagen Meniscus Implant Market, by End-user, 2017-2027 (US$ Mn) 5.1. Hospitals 5.2. Orthopedic Clinics 5.3. Ambulatory Surgical Centers
6. North America Collagen Meniscus Implant Market Analysis, 2017-2027 (US$ Mn)
7. Europe Collagen Meniscus Implant Market Analysis, 2017-2027 (US$ Mn)