Albany, NY -- (SBWire) -- 02/09/2019 --Cartilage is a soft and rubbery material present in joints and is involved in preventing friction between bones by acting as a shock absorber. Damage to cartilage restricts the normal movement of joint causing pain. It most often occurs after a traumatic and twisting injury to the joint. If left untreated, it may require joint replacement surgery. Knee cartilage repair has been beneficial for conditions such as malunions, delayed unions, and slow healing wounds. Advances in knee cartilage repair products have bolstered the growth of this industry.
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Geriatrics will constitute a prominent chunk of the world's population. The health care industry stands to gain from this, as people aged over 65 years are highly prone to various disorders. One of the most common disorders among the geriatric population is damage to the knee cartilage or reduction of lubricants over a period of time. Moreover, the global cartilage repair market is gaining traction due to increase in obesity across the globe. Obese individuals are highly likely to damage their knees over a period of two decades, which eventually leads to the loss of cartilage in the joints. Additionally, arthritis remains a ubiquitous disease and health care infrastructure is improving in several emerging economies.
These factors are expected to drive demand for knee cartilage repair during the forecast period. However, lack of awareness about the availability of innovative therapies and considerable cost of the repair are likely to restrain the market. Osteoarthritis (OA) is the most common type of arthritis or degenerative joint disease. It is a leading cause of chronic disability. The disease most commonly affects the middle-aged and elderly, although younger people may be affected as a result of injury or overuse. Rise in incidence of joint disorders is another key factor likely to fuel the growth of the global cartilage repair market during the forecast period.
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The global cartilage repair market can be segmented based on treatment modality, application, treatment type, and site. In terms of treatment modality, the market can be bifurcated into cell-based and non-cell-based. Based on application, the global cartilage repair market can be classified into hyaline cartilage and fibrocartilage. In terms of treatment type, the market can be categorized into palliative and intrinsic repair stimulus. Based on site, the global cartilage repair market can be divided into knee cartilage repairs and others.
The global cartilage repair market can be segmented into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America and Europe are expected continue to dominate the market due to high number of surgeries carried out in these regions. Increase in orthopedic procedures in the developed countries such as the U.S., rise in obesity, and introduction of technologically advanced products augment the market in North America. Asia Pacific is the third most lucrative market for cartilage repair. Large population and improving health care infrastructure are projected to drive demand for cartilage repair products in the region during the forecast period from 2018 to 2026. The cartilage repair market in Asia Pacific is expected to be driven by strong economic growth, increase in disposable income, rise in health care infrastructure, and surge in investments by market players.
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The global cartilage repair market is highly organized, with small number of players accounting for major share in terms of revenue. Key players in the global cartilage repair market include Braun Melsungen AG, DePuy Synthes, Zimmer Biomet Holdings, Inc., Medipost Co. Ltd., Histogenics Corporation, Smith & Nephew plc, and Stryker Corporation.
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Cartilage Repair Market to Register Substantial Expansion by 2026