Asia Pacific is projected to be a rapidly growing market for cartilage degeneration procedures during the forecast period due to robust economic growth in countries such as Australia, the Philippines, China, Singapore, India, and others.
Albany, NY -- (SBWIRE) -- 09/27/2017 -- In recent years, the rise in the number of industrial mishaps, road accidents, and sports injuries have given boost to the cartilage degeneration market. It is well identified that injury to the cartilage restricts the regular movement of the joint and can cause severe pain. If left untreated or if the injury is serious, it may require joint replacement surgery, therefore better is needed. Considering this factor, analysts have prepared a new study, in which detailed market outlook of cartilage degeneration diagnosis and treatments have been discussed. Market Research Hub (MRH) has recently added this study titled "Cartilage Degeneration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025" to its vast repository, which offers precise forecast analysis at the global scale and further studies the changing trends in the market.
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Cartilage, the smooth, rubbery connective tissue on the end of bones, cushions joints and helps them move smoothly and easily. The degeneration of cartilage can cause chronic inflammation in the joint. Osteoarthritis (OA) also known as degenerative arthritis is a chronic degenerative joint disease caused by the degeneration of articular cartilage. At present, factors such as the increase in the global geriatric population, increase in the number of sports injuries, and rise in the obese population are key factors which drive the growth of cartilage degeneration market. Considering these factors, analysts have estimated that the global cartilage degeneration market which was valued at US$9.5 bn in 2017, is likely to reach US$14.7 bn by 2025. At this pace, the market is expected to exhibit a strong 5.6% CAGR in the forecast period.
Geographically, the cartilage degeneration market has been segmented into five broad regions: North America, Europe, Middle East & Africa (MEA), Asia Pacific and Latin America. Each regional market has been further categorized into major product, material and end-user segments measured within the scope of the study. The presence of numerous leading players is likely to ensure a competitive market landscape in the cartilage degeneration treatment sector in the coming few years. Overall, the market has been segmented on the basis of procedure type, application, treatment delivery channels and geography. By procedure type the market is characterized as Joint Replacements, Chondroplasty, Osteochondral Transplants, Meniscus Transplants, Cell based Cartilage Resurfacing, Micro-Fracture, Autologus Chondrocyte Implantation (ACI), Others. By application the market is divided into knee, hips & others. Of these applications, the knee surgery or repair market is anticipated to dominate the cartilage degeneration market in the near future.
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It has been also analyzed that 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. For instance, in the U.S., about 70% adults aged between 55-78 years suffer from the disease, which is anticipated to rise during the forecast period. However, increase in the cost of surgical treatment and devices and lack of reimbursement policies in emerging countries are some of the factors which may hinder the market growth. The study further also adds that North American region is expected to dominate the global market till 2025.
The report also profiles major players active in global cartilage degeneration market include DePuy Synthes, B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew Plc. and Zimmer Biomet.
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