Albany, NY -- (SBWire) -- 01/15/2019 --Knee Cartilage Repair Market - Snapshot
The global knee cartilage repair market is expanding due to rise in the global geriatric population and lifestyle changes coupled with growing awareness about sports and outdoor activities among the younger as well as elderly generation. The global knee cartilage repair market was valued over US$ 3.0 Bn in 2017. It is projected to surpass a value of US$ 6.7 Bn by 2026, expanding at a cumulative annual growth rate (CAGR) of over 6.0% from 2018 to 2026. The market is expanding at a relatively higher growth rate owing to increasing digitization of pain management practices, high incidences of orthopedic surgery, occurrence of neuromuscular disorders among the geriatric population, increase in knee fractures in men and women, and rise in sports activity among the young generation.
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Knee cartilage repair has been beneficial for conditions such as mal-unions, delayed unions, and slow healing wounds. Advances in knee cartilage repair products have fuelled this industry. However, poor or lack of reimbursement for innovative technologies, especially in developed nations, has negatively affected the market. Moreover, side-effects caused due to off-label usage of certain products and negative media literature about slow tissue recovery have hampered the market. Knee cartilage repair products are widely utilized to control physical deformities or for the treatment of injured/malfunctioned parts of the knee. They are also known as supportive of corrective devices. The primary objectives of these products are to provide comfort to patients while performing daily functions, reduce pain, support an injury, and correct the shape of a particular body part. For instance, these devices help in body movements and alignment by supporting the legs, hips, or both.
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Knee cartilage repair aids patients suffering from femur bone disjunction, fractures, sport injuries, or any other serious accidental injury in order to improve overall operational efficiency as well as patient care. High prevalence and incidence rates of bone and joint disorders and increase in the number of cases of osteoarthritis and orthopedic injuries among the global population have resulted in an increase in patient flow to orthopedic clinics and hospitals. These factors are projected to drive the demand for global knee cartilage repair in the near future. Moreover, expansion of emerging economies is likely to offer significant opportunities to the knee cartilage repair market in the near future.
The global knee cartilage repair market has been segmented based on application, end-user, and region. In terms of application, the global market has been categorized into arthroscopic chondroplasty, autologous chondrocyte implantation, osteochondral grafts transplantation, cell-based cartilage resurfacing, implants transplant, microfracture, and others. The arthroscopic chondroplasty segment accounted for a key share (in terms of revenue) of the global market in 2017. The cell-based cartilage resurfacing segment is estimated to expand at a rapid pace during the forecast period and is estimated to report significant gains in its market share by the end of 2026. Cell-based cartilage resurfacing offer advantages such as generating cartilaginous tissue in articular cartilage defects and long-term stability of the cartilage is increasingly gaining popularity among orthopedic physicians. The microfracture segment followed the arthroscopic chondroplasty segment, in terms of share, of the global market. It is likely to maintain its dominant position and gain marginal market share during the forecast period. Microfracture is an old technique, wherein small holes are made in the surface of the joint to repair damaged articular cartilage. This type of technique is widely utilized by athletes as there is less chance of post-surgical reaction and mismatch. However, rise in sports injuries and growing preference by athletes toward microfracture fuels the microfracture segment of the global market. In terms of end-user, the global market has been categorized into hospitals, ambulatory surgical centers, orthopedic clinics, and others. Rise in health care awareness and growing importance of adventurous sports among youngsters as well as the geriatric population has led to an increase in incidence of sports-related injuries across the world. Consequently, these factors are likely to drive the hospitals segment at a high growth rate in the near future.
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Knee Cartilage Repair Market - Value Added Features of Knee Cartilage Devices and Increasing Prevalence of Bone & Joint Disorders and Orthopedic Surgeries to Fuel Market