Cartilage regeneration addresses the challenge of repairing damaged cartilage, which has limited natural healing abilities due to its low blood supply and absence of nerve endings. Trauma or injury to joint cartilage surfaces often leads to pain, inflammation, and restricted joint movement. As a result, there is a growing demand for effective cartilage regeneration solutions to alleviate these symptoms and restore joint functionality.
According to Data Bridge Market Research the Cartilage Regeneration Market accounted for USD 984.25 million in 2022, is expected to reach USD 3,095.64 million by 2030, at a CAGR of 15.4% during the forecast period 2023 to 2030.
“Growing number of road accidents”
The rising incidence of bone and joint injuries caused by road accidents is expected to fuel the demand for cartilage repair products. With approximately 1.25 million deaths annually due to road accidents worldwide, factors like alcohol influence, reckless driving, mobile phone use, and poor road conditions contribute to the growing number of injuries. These factors create a conducive environment for market growth as the need for effective cartilage repair solutions increases in response to the rising number of bone and joint injuries caused by road accidents.
What restraints the growth of the cartilage regeneration market?
“High cost of cartilage repair surgeries”
The cost of cartilage repair procedures presents a significant barrier to their widespread adoption, despite their superior and longer-lasting outcomes compared to total knee replacement surgeries. With knee replacements costing around USD 16,000 on average, cartilage repair procedures range between USD 18,000 and USD 23,000. The higher price tag of cartilage repair therapies often leads to their undervaluation in comparison, leading to a lower preference for these treatments in the healthcare landscape.
Segmentation: Cartilage Regeneration Market
The cartilage regeneration market is segmented on the basis of type, treatment modality, treatment type, application site, surgical procedure and end user .
- On the basis of type, the cartilage regeneration market is segmented into fibro cartilage, hyaline cartilage, elastic cartilage, other.
- On the basis of treatment modality, the cartilage regeneration market is segmented into cell-based, non-cell based.
- On the basis of treatment type, the cartilage regeneration market is segmented into palliative, intrinsic repair stimulus.
- On the basis of application site, the cartilage regeneration market is segmented into knee, spine, ankle, hip, others.
- On the basis of surgical procedure, the cartilage regeneration market is segmented into chondroplasty and microfracture, autologous chondrocyte implantation, osteochondral autograft transplantation, osteochondral allograft transplantation, juvenile allograft fragments, others
- On the basis of end user, the cartilage regeneration market is segmented into ambulatory care centers, hospitals and clinics, surgical centers, and others.
Regional Insights: North America Dominates the Cartilage Regeneration Market
- North America is dominant in the cartilage regeneration market due to its advanced healthcare infrastructure and favorable reimbursement policies. The region's well-established medical facilities and insurance coverage contribute to the increased adoption of cartilage regeneration procedures, driving market growth.
- Asia-Pacific is projected to witness the highest growth rate during the forecast period from 2023 to 2030. The region's growing incidence of osteoporosis, which affects bone density and increases the risk of cartilage damage, is a key driver of market growth. The rising awareness about the importance of early detection and treatment of osteoporosis is expected to boost the demand for cartilage regeneration solutions in Asia-Pacific.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-cartilage-regeneration-market
Recent Developments in Cartilage Regeneration Market
- In 2020, Smith & Nephew Plc introduced the Healicoil Knotless Suture Anchor, a novel medical device designed to promote accelerated healing and bone fusion. The anchor's distinctive feature lies in its combination with the Regenesorb Material, which enhances the regenerative process. This innovative solution aims to stimulate improved healing outcomes and facilitate the fusion of bones.
- In 2019, Medipost Co. Ltd. initiated phase 3 clinical trials for Cartistem, an allogeneic cell therapy product. Cartistem focuses on treating osteochondral cartilage defects specifically in ankle joints. This promising therapy aims to address and potentially alleviate the challenges associated with cartilage damage, offering a potential breakthrough in the treatment of this condition. The clinical trials aim to evaluate the effectiveness and safety of Cartistem in patients with ankle joint issues..
The Prominent Key Players Operating in the Cartilage Regeneration Market Include:
- Osiris Therapeutics, Inc. (U.S.)
- Smith + Nephew (U.K.)
- AlloSource (U.S.)
- Vericel Corporation (U.S.)
- Zimmer Biomet (U.S.)
- Medtronic (Ireland)
- Stryker (U.S.)
- Anika Therapeutics, Inc. (U.S.)
- B. Braun SE (Germany)
- Orthocell Ltd. (Australia)
- Geistlich Pharma AG (Switzerland)
- Takeda Pharmaceutical Company Limited (Japan)
- CONMED Corporation (U.S.)
- The Future of Biotechnology, MEDIPOST (South Korea)
- BioTissue (U.S.)
- LifeNet Health (U.S.)
- RTI Surgical (U.S.)
- Arthrex, Inc. (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of cartilage regeneration market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cartilage Regeneration Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
