by The global Collagen Meniscus Implant Market is estimated to be valued at US$ 470.7 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Collagen meniscus implants are medical devices used for partial meniscal replacement in patients suffering from discoid lateral meniscus or medial/lateral meniscus injury. These implants are made of pure type I bovine collagen which provides structural support to the tissue surrounding the knee joint. Collagen meniscus implant mimics the normal meniscus and aims to alleviate pain and restore normal knee functionality by acting as a scaffold for natural tissue ingrowth. The implants are minimally invasive and require smaller incisions compared to allograft transplants. This reduces surgical risks and recovery time for patients.
Market key trends:
One of the major trends in the collagen meniscus implant market is the increasing use of biodegradable materials for implants. Earlier implants degraded too quickly or lacked biomechanical stability. However, advances in material science have enabled the development of biodegradable scaffolds that effectively mimic the mechanical properties of natural meniscus tissue. These scaffolds gradually degrade as the body replaces them with newly formed collagen tissues. This enhances long term repair outcomes for patients. Other notable trends include the rising demand for osteoarthritis treatment options and the growing popularity of arthroscopic surgeries for quicker recovery.
Porter’s Analysis
Threat of new entrants: Low as it requires high investments for Research & Development as well as certifications from regulatory authorities to enter the collagen meniscus implant market.
Bargaining power of buyers: Moderate as some influential buyers collaborate on contracts and place higher volume orders to negotiate lower prices.
Bargaining power of suppliers: Moderate as few suppliers operate in this niche market and innovations require approval from them.
Threat of new substitutes: Low as implants offer permanent solution compared to other treatments.
Competitive rivalry: High due to presence of established players competing on product quality, features and pricing.
Key Takeaways
The Global Collagen Meniscus Implant Market Size is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing prevalence of meniscal tears among middle-aged to elderly population. North America is expected to dominate the market over the forecast period owing to favorable reimbursement policies and high healthcare spending in the region.
The global collagen meniscus implant market size for 2023 is US$ 470.7 Mn. Regional analysis indicates North America will retain its dominant position through 2030 due to growing geriatric population and rising sports injuries in the US. Treatments of meniscal tears through minimally invasive techniques have gained popularity over conventional open surgery in the region.
Key players operating in the collagen meniscus implant market are Active Implants, Stryker, RTI Surgical, CONMED, Zimmer Biomet, Smith & Nephew, Arthrex, Biofixt, Ossur and MiMedx and Bioventus. Stryker dominates the market with wide array of products to repair meniscal tears. Active Implants’ collagen meniscus implant ACTIVE is also a leading brand in North America and Europe for its bioabsorbable properties.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
