Surge in obesity in the population throughout the world has increased the morbidity associated with orthopedic diseases, which is in turn is anticipated to significantly drive the growth of the market. Furthermore, rise in sports-related injuries is the key factor that augments the growth of the market.
According to a new report published by Allied Market Research, titled, “Cartilage Repair Market by Modality, Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global market was valued at $713 million in 2017, and is projected to reach $2,195 million by 2025, growing at a CAGR of 15.0% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.
Cartilage repair is a process that encompasses treatment of the damaged cartilage through different modalities such as chondroplasty, autologous chondrocyte implantation, osteochondral allograft, and juvenile allograft fragments to restore normal functions of the connective tissue.
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Cartilage Repair Market Growth
The cartilage repair market is anticipated to grow considerably in the near future, owing to different factors such as increase in obesity & sedentary lifestyle among the population, rise in elderly population, and upsurge in prevalence of arthritis globally. However, high costs associated with cartilage repair procedures and unclear regulatory scenario are the key factors that are expected to impede the market growth. On the contrary, the emerging markets such as India and China are anticipated to provide lucrative growth opportunities to the market players during the forecast period.
By modality, chondroplasty & microfracture accounted for more than one-fourth share of the global cartilage repair market in 2017. In terms of application, the knee segment garnered nearly half of the market share in 2017, and is projected to exhibit prominent growth rate, owing to surge in prevalence of knee osteoarthritis globally.
Cartilage Repair Market Revenue
Among end users, hospitals & clinics generated the highest revenue in 2017, due to different factors such as availability of different treatment options (chondroplasty, osteochondral autograft transplantation, and others) under one roof, palliative care, and diagnosis. By region, North America was the highest revenue contributor in the global market in 2017.
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North America was the leading revenue contributor to the global market in 2017, owing to high adoption rate of cartilage repair products. However, Asia-Pacific is expected to grow at the highest CAGR of 16.5% from 2018 to 2025, due to increase in disposable income; surge in research, development, & innovation activities; and rise in awareness towards cartilage repair products.
Cartilage Repair Market Key Players
The report provides an extensive competitive analysis and profiles of the key market players such as Arthrex, Inc., B. Braun Melsungen AG, Conmed Corporation, Johnson & Johnson, Osiris Therapeutics, Inc., RTI Surgical, Inc., Smith & Nephew PLC, Stryker Corporation, Vericel Corporation, and Zimmer Biomet Holdings, Inc. The other players in the value chain (not included in the report) include Anika Therapeutics, Inc., Collagen Solutions LLP, and Histogenics Corporation.
- This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of global cartilage repair market.
- Market size and estimations are based on comprehensive analysis of the modalities, applications, end users, and developments in the industry.
- An in-depth analysis based on region assists to understand the regional market and facilitate the strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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This post was originally published on Trading Herald