The Cartilage Repair Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cartilage Repair Global Market Report 2024, The cartilage repair market size has grown rapidly in recent years. It will grow from $1.24 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increasing incidence of joint disorders, growing awareness and diagnosis rates, rising healthcare expenditure, collaborations and partnerships..
The cartilage repair market size is expected to see rapid growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to growing aging population, rising sports injuries, regulatory support for advanced therapies, increasing patient preference for non-invasive treatments.. Major trends in the forecast period include technological advancements, regulatory approvals and standardization, patient preference for biologics, healthcare infrastructure development..
The surge in road accidents and sports-related injuries is expected to propel the growth of the cartilage repair market going forward. Road accidents involve vehicles, pedestrians, or cyclists on public roadways or streets. In contrast, sports-related injuries refer to injuries that occur during participation in various sports and physical activities. A surge in road accidents and sports-related injuries significantly contributes to the need for cartilage repair procedures to restore damaged cartilage, alleviate pain, and improve joint function caused by road and sports-related injuries. For instance, in May 2023, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, the number of road crashes in the United States increased from 35,935 in 2020 to 39,508 in 2021. Further, the number of fatalities also increased from 39,007 in 2020 to 42,939 in 2021. Furthermore, in August 2021, according to Cary Orthopaedica, a US-based health organization, more than 3.5 million children and teenagers in the United States suffer from sports-related injuries each year. Therefore, the surge in road accidents and sports-related injuries is driving the growth of the cartilage repair market.
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The cartilage repair market covered in this report is segmented –
1) By Treatment Modality: Cell-Based, Non-Cell-Based
2) By Site: Knee, Hip, Ankle And Foot, Other Application Sites
3) By Application: Hyaline Cartilage, Fibrocartilage
4) By End User: Hospital And Clinic, Ambulatory Surgical Center (ASC), Other End-Users
Major companies operating in the cartilage repair market are developing innovative products, such as Chondro-Gide, to help protect the injured cartilage, promote healing, and get approvals for cartilage treatments. Chondro-Gide, or articular cartilage cover, is a bilayer collagen membrane used in a one-step cartilage repair technique. For instance, in February 2021, Geistlich Pharma AG, a Switzerland-based medical device company, received breakthrough device designation (BDD) for the Chondro-Gide articular cartilage cover from the U.S. Food and Drug Administration. Chondro-Gide Articular Cartilage Cover is a highly purified collagen membrane that leverages the body’s healing potential and treats cartilage defects in the knee. It is used in the Autologous Matrix-Induced Chondrogenesis (AMIC) technique, where it covers the defect and offers a protective environment for cell differentiation and the formation of new cartilage.
The cartilage repair market report table of contents includes:
1. Executive Summary
2.Cartilage Repair Market Characteristics
3.Cartilage Repair Market Trends And Strategies
4.Cartilage Repair Market analysis
5.Cartilage Repair Market Size And Growth
6.Cartilage Repair Segmentation
7.Cartilage Repair Regional And Country Analysis
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27.Cartilage Repair Competitive Landscape And Company Profiles
28.Cartilage Repair Key Mergers And Acquisitions
29.Cartilage Repair Future Outlook and Potential Analysis
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