Seattle, Oct. 22, 2018 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global collagen meniscus implant market was valued at US$ 358.8 million in 2017 and is projected to exhibit a CAGR of 5.4% over the forecast period (2018–2026).
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Key Trends and Analysis of the Collagen Meniscus Implant Market:
The collagen meniscal implant (CMI) (previously marketed as Menaflex) is derived from bovine collagen and is used to treat acute or chronic advanced meniscal loss or damage with the intent of relieving symptoms and preventing joint degeneration. According to the National Institute of Health Research 2017 report, meniscal replacement with CMI is indicated for patients with advanced loss of or damage to meniscal tissue that cannot be repaired. Moreover, the amount of damaged tissue must be over 25% of the total meniscus area and should extend at least into the red-white zone.
Increasing number of sports injuries and rising geriatric population are major factors that are expected to drive growth of the collagen meniscus implant market over the forecast period. According to the Journal of Athletic Training 2012 study, the risk of tearing a meniscus in the age group over 40 years was reported to be four times larger in comparison to age group below 20 years.
Manufacturers in the collagen meniscus implant market focus on developing new products and strategic mergers & acquisitions, in order to gain significant market share. For instance, in 2016, Stryker acquired New Jersey-based Ivy Sports Medicine, a company that develops minimally invasive meniscal repair solutions, for an undisclosed amount.
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Key Market Takeaways:
- The global collagen meniscus implant market is expected to exhibit a CAGR of 5.4% during the forecast period (2018–2026), owing to increasing incidences of sports-related knee injuries
- North America collagen meniscus implant market is expected to generate significant revenue share during the forecast period, owing to increasing number of meniscus surgeries being performed in the region. As per the National Center for Health Statistics 2017 report, meniscus surgery is the most frequent surgical procedure performed by orthopedic surgeons in the U.S., with over 50% of the procedures performed in patients 45 years of age or older.
- Key players operating in the global collagen meniscus implant market include Active Implants, Orthonika, RTI Surgical, Stryker Corporation, and Zimmer Biomet
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