Albany, NY -- (SBWIRE) -- 09/22/2017 -- The global cartilage degeneration market was valued at US$9.5 Bn in 2016 and is projected to reach a market value of US$14.7 Bn in 2025, expanding at a CAGR of 5.6% from 2017 to 2025.
By region, North America is anticipated to be largest market in 2017. Rise in the incidence of sports injuries and increase in the number of obese persons in this region would majorly encourage the cartilage degeneration market in the region. Europe and Asia Pacific are also likely to play key roles in the cartilage degeneration market in the coming years, with the gap between the two likely to reduce considerably over the forecast period due to rapid growth of the cartilage degeneration market in Asia Pacific.
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Rising Threat of Arthritis Leads to Growing Demand for Cartilage Degeneration Treatment
According to the Centers for Disease Control and Prevention, an expected 67 million people in the U.S. above 18 years of age would be diagnosed with arthritis by 2030. Arthritis is considered a leading cause of disability among the global population and often leads to reconstructive bone and joint surgery. The number of people affected with knee osteoarthritis is expected to grow in the near future due to the increasing aging population and rising rate of obesity among the general population.
The global cartilage degeneration market is anticipated to grow rapidly in the coming years. Osteoarthritis is a common form of arthritis, affecting close to 27 million people in the U.S., including 16 million to 20 million people aged between 25 and 74. In 2014, osteoarthritis affected 11.30% of the global population. The disease affected about 85 million people in 2009 and is expected to affect 122 million people by 2017. Osteoarthritis is the most common joint problem in countries in the West and is thus a key contributor to the cartilage degeneration market. For instance, in the U.S., about 70% adults aged between 55 and 78 suffer from the disease, which is expected to increase during the forecast period. Rheumatoid arthritis is also a growing health concern and affects 0.5% to 1% of the total population each year. The prevalence of these disease is highly variable depending on gender and race, but is expected to increase in the future. These factors are expected to drive the cartilage degeneration market.
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Growing Prevalence of Obesity, Sports Injuries Drives Cartilage Degeneration Market
Cartilage is a tough and flexible connective tissue found in most joints of the body. Cartilage structure and function can easily be impaired due to damage or physiological conditions. Twisting and traumatic injuries, growing age, and obesity are some of the common factors which can cause cartilage degeneration. Additionally, rise in the number of industrial mishaps, road accidents, and sports injuries are other factors which can drive the cartilage degeneration market in the coming years. Advances in novel surgery techniques and innovative synthetic materials have also augmented the growth of the cartilage degeneration market. However, lack of awareness about new techniques in the population and rising cost of treatments are some of the key factors which may hinder the cartilage degeneration market' growth.
According to the WHO, globally, the number of obese people has more than doubled over the previous 30 years. According to a recent survey by the National Health and Nutrition Examination, obese women have four times the risk of developing knee osteoarthritis compared to non-obese women. Obese men have an even greater risk of knee osteoarthritis, with the risk factor being calculated at nearly five times as much as non-obese men. The rising prevalence of obesity in developed regions is thus likely to be crucial for the cartilage degeneration market in the coming years.
The global cartilage degeneration market is characterized by the presence of major companies such as DePuy Synthes, Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, and B. Braun Melsungen AG. The presence of several leading players is likely to ensure a competitive market landscape in the cartilage degeneration treatment sector in the coming years.
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