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cartilage repair market size is expected to reach USD 2,268.8 Million in 2028 and register a revenue CAGR of 14.5% during the forecast period.
NEW YORK CITY, NY, UNITED STATES, July 20, 2022 /EINPresswire.com / -- The global cartilage repair market size is expected to reach USD 2,268.8 Million in 2028 and register a revenue CAGR of 14.5% over the forecast period, according to the latest report by Reports and Data. Steady revenue growth of the global cartilage repair market is primarily due to rising incidence of joint injuries owing to obesity, accidents, playing sports, and some other medical conditions/diseases. In most cases, patients with cartilage damage comprise youngsters and adults suffering from knee joint injuries such as meniscal or ligament tears, need knee cartilage repair surgery. Healing of damaged cartilage is a slow process, thus, procedures such as autologous chondrocytes implantation and cell-based cartilage resurfacing are employed to stimulate growth of new cartilage in joints. Cartilage repair and restoration provides significant relief from pain and allow better joint movement, and this helps to delay or prevent onset of arthritis.
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Compared with other body tissues, cartilage has a poor blood supply, and therefore has limited potential to heal itself or to support donor cartilage. It is a connective tissue found in various parts of the body, especially joints. Major players are investing in R&D of better solutions for cartilage regeneration and repair as degeneration of meniscus (fibrocartilage) tissue affects a large number of patients across the globe. Researchers have recently developed 3D technology that helps to bio-print a 3D hybrid tissue constructed for regenerating cartilage by using specialized bio-inks. These inks comprise hydrogels to develop a new formulation that creates a cell-friendly microenvironment and provides structural integrity.
However, high cost associated with cartilage repair surgeries and dearth of skilled surgeons are factors that could hamper market revenue growth over forecast period.
Some Key Highlights from the Report
By Application, the fibrocartilage segment accounted for significantly large revenue share in 2020. Fibrocartilage functions as a joint stabilizer and shock absorber by providing cushion layer in knee joints involved in bearing strain and load. Fibrocartilage in knee joints is much more responsive to joint instability, and hence, in many cases, it acts as an indicator of pending degeneration of cartilage.
By treatment modality, the cell-based segment accounted for largest revenue share in 2020. Cell-based modality is a kind of biological treatment, which encompasses process of putting new cells along with damaged tissues for treatment of age-related or degenerative diseases. Cartilage is the most appropriate tissue for regeneration purpose. The primary purpose of cell-based treatment for cartilage imperfections is to repair injured joint surfaces using healthy tissues that can endure stresses and strains caused by joint loading.
North America accounted for largest revenue share in 2020, owing to increasing use of more advanced technologies in the healthcare sector, rising prevalence of obesity, increasing investments in R&D of cutting-edge cartilage repair procedures, and increasing healthcare spending. Additionally, presence of various major players is also boosting revenue growth of the market in the region.
In April 2018, Stryker and AlloSource made an announcement about launch of a cryopreserved osteochondral allograft called ProChondrixCR. It is intended to offer better solutions to patients requiring articular cartilage repair.
Top players profiled in the report include:
Zimmer Biomet, Stryker Corporation, DePuy Synthes, Smith & Nephew PLC, Vericel Corporation, Osiris Therapeutics Inc., B. Braun Melsungen AG, Anika Therapeutics Inc., Arthrex Inc., and Collagen Solutions PLC.
Treatment Modality Outlook (Revenue, USD Billion; 2018–2028)
Cell-Based
Chondrocyte Transplantation
Growth Factor Technology
Non-Cell-Based
Tissue Scaffolds
Cell-Free Composites
Others
Application Outlook (Revenue, USD Billion; 2018–2028)
Hyaline
Fibrocartilage
Elastic Cartilage
Others
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Regional Analysis Covers:
North America
Canada
S.
Mexico
Europe
Germany
Italy
K.
Rest of EU
Asia Pacific
India
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
A.E
Rest of MEA
Summary of the Cartilage Repair Market Research Report:
Insightful information regarding the global Cartilage Repair market
Strategic recommendations for the investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Thorough SWOT analysis and Porter's Five Forces analysis along with feasibility analysis and investment return analysis
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.
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