The global collagen meniscus implant market is estimated to be valued at US$ 389.5 million in 2019 and is expected to exhibit a CAGR of 4.7% over the forecast period 2019-2027, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Collagen meniscus implant is a synthetic scaffold made from highly purified collagen derived from bovine Achilles tendon. The implant is used in knee joint surgeries to replace the damaged meniscus. It offers advantages such as improved joint functions, reduced pain, and avoidance of complete meniscectomy. Collagen meniscus implants address the need for an effective solution for meniscal injuries and are gaining popularity among orthopedic surgeons. The increasing prevalence of knee injuries and the rising demand for minimally invasive surgical procedures are driving the growth of the collagen meniscus implant market.
Market Key Trends:
One key trend in the Collagen Meniscus Implant Market is the technological advancements in implant design and materials. Manufacturers are focusing on developing implants with enhanced strength, biocompatibility, and longevity. For example, Zimmer Biomet Holdings, Inc. offers the NUsurface Meniscus Implant, which is made from medical-grade polymer and is designed to mimic the function of a natural meniscus. This implant provides a treatment option for patients with persistent knee pain following meniscus surgery.
PEST Analysis:
Political: The collagen meniscus implant market is influenced by government regulations regarding the approval and safety of medical devices. Stringent regulatory requirements ensure patient safety and maintain quality standards.
Economic: The economic factors affecting the market include healthcare expenditure, insurance coverage, and healthcare infrastructure. Increasing healthcare spending and rising disposable income contribute to market growth.
Social: The growing aging population and the prevalence of sports-related injuries are driving the demand for collagen meniscus implants. Additionally, increasing awareness about advanced treatment options among patients is fueling market growth.
Technological: Technological advancements in material science and implant design have led to the development of innovative collagen meniscus implants with improved efficacy and patient outcomes.
Key Takeaways:
– The global collagen meniscus implant market is expected to witness high growth, exhibiting a CAGR of 4.7% over the forecast period. This growth is attributed to the increasing prevalence of knee injuries and the rising demand for minimally invasive surgical procedures.
– North America is expected to dominate the market due to the high incidence of meniscal injuries and the presence of key market players in the region.
– Zimmer Biomet Holdings, Inc., RTI Surgical Holdings, Inc., Stryker Corporation, Orthonika, Active Implants LLC, and Biofixt are key players operating in the global collagen meniscus implant market. These players focus on product innovations and strategic collaborations to strengthen their market position.
Overall, the collagen meniscus implant market is experiencing significant growth due to technological advancements, increasing prevalence of knee injuries, and the demand for minimally invasive surgical procedures. With ongoing research and development, the market is expected to witness further advancements and provide improved treatment options for patients with meniscal injuries.
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