Rising investments by major players in technological advancements and increasing healthcare expenditure are factors driving market revenue growth.
Rising investments by major players in technological advancements and increasing healthcare expenditure are factors driving market revenue growth
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 cartilage repair market revenue growth can be attributed to rising incidence of on-road accidents leading to knee injuries that can have severe consequences on an individual. Knee injuries usually result from sudden external force on knees and can occur in several ways depending on nature of accident, including a side-impact, rear-ender, or rollover. These kinds of incidences can lead to need for cartilage repair surgery for recovery from joint damage, and this in turn, is driving market revenue growth.
Growing number of sports events worldwide and rising interest of younger generation in sports are factors driving market revenue growth. Joints, especially knees, possess an intricate structure making it prone to injuries, mainly for athletes. Certain kinds of sports such as football, running, lacrosse, basketball, or skiing, place intense strain on knee joints and hence increase risks associated with knee injuries resulting from extreme movements intrinsic to the sport, such as abrupt stops, twists, and turns. Additionally, overuse of knee joints during frequent playing lead to extreme trauma due to blunt force or intense training and can cause injury to knee, and in turn, create need for cartilage repair surgery.
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However, high costs associated with cartilage repair surgeries can hamper market revenue growth over forecast period. High cost of surgeries can discourage patients from opting for knee cartilage repair procedures and opt relatively cheaper treatments including therapies to strengthen muscles. In addition, dearth of skilled surgeons for performing knee cartilage repair surgeries can hamper market revenue growth to some extent.
Some Key Highlights From the Report
- By application, the hyaline segment accounted for largest revenue share in 2020. Hyaline cartilage has high composition of collagen, which is a protein present in connective tissues, and is beneficial in holding the joints together. This cartilage offers support and flexibility to various body parts including ears, nose, larynx and trachea in the respiratory system, and other body parts to give shape as well as flexibility to the body parts. Hyaline cartilage present in the bone’s articular surfaces is also known as articular cartilage, which performs the role of shock absorber and lessens friction on the joint bones.
- By treatment type, the intrinsic repair stimulus segment accounted for significantly large revenue share in 2020. Intrinsic repair stimulus comprises microfracture and drilling techniques to repair cartilage tissues. Microfracture surgery creates small perforations in subchondral bone surface and enables more vascular bone to access the bone surface layer and supply blood, thereby stimulating new cartilage growth.
- By end use, the hospitals segment accounted for largest revenue share in 2020. Factors such as well-resourced operating rooms and availability of highly skilled healthcare professionals in hospitals, and health insurance coverage for hospital-based healthcare services, and increasing spending on personal health and wellness, and higher purchasing power are factors driving revenue growth of the hospital segment.
- Asia Pacific cartilage repair market is expected to register fastest revenue CAGR over forecast period, attributed to growing inclination for sports among children and youths in countries in the region, increasing incidence of sport-related injuries and accidents, and rising investments and focus on improving healthcare infrastructure. In addition, rising disposable income and growing geriatric population are supporting revenue growth of the Asia Pacific market.
- Companies profiled in the global market 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.
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For the purpose of this report, Reports and Data has segmented the global cartilage repair market based on treatment modality, application, treatment type, end use, and region:
Treatment Modality Outlook (Revenue, USD Billion; 2018–2028)
- Cell-Based
- Chondrocyte Transplantation
- Growth Factor Technology
- Non-Cell-Based
- Tissue Scaffolds
- Cell-Free Composites
- Other
Application Outlook (Revenue, USD Billion; 2018–2028)
- Hyaline
- Fibrocartilage
- Elastic Cartilage
- Other
Treatment Type Outlook (Revenue, USD Billion; 2018–2028)
- Palliative
- Viscosupplementation
- Debridement & Lavage
- Intrinsic Repair Stimulus
- Other
End Use Outlook (Revenue, USD Billion; 2018–2028)
- Hospital
- Clinics
- Ambulatory Surgical Centers
- Other
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest Of MEA
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Some points on how the report benefits stakeholders:
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