This report entails a detailed quantitative analysis of the current market trends from 2017 to 2025 to identify the prevailing opportunities along with strategic assessment of global cartilage repair market.
Portland, OR -- (SBWIRE) -- 06/13/2018 -- Cartilage Repair Market by Modality, Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global market was valued at $713 million in 2017, and is projected to reach $2,195 million by 2025, growing at a CAGR of 15.0% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.
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Cartilage repair is a process that encompasses treatment of the damaged cartilage through different modalities such as chondroplasty, autologous chondrocyte implantation, osteochondral allograft, and juvenile allograft fragments to restore normal functions of the connective tissue.
The cartilage repair market is anticipated to grow considerably in the near future, owing to different factors such as an increase in obesity & sedentary lifestyle among the population, rise in elderly population, an upsurge in the prevalence of arthritis globally. However, high costs associated with cartilage repair procedures and unclear regulatory scenario are the key factors that are expected to impede the market growth. On the contrary, the emerging markets such as India and China are anticipated to provide lucrative growth opportunities to the market players during the forecast period.
By modality, chondroplasty & microfracture accounted for more than one-fourth share of the global cartilage repair market in 2017. In terms of application, the knee segment garnered nearly half of the market share in 2017 and is projected to exhibit prominent growth rate, owing to the surge in the prevalence of knee osteoarthritis globally.
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Among end users, hospitals & clinics generated the highest revenue in 2017, due to different factors such as availability of different treatment options (chondroplasty, osteochondral autograft transplantation, and others) under one roof, palliative care, and diagnosis. By region, North America was the highest revenue contributor in the global market in 2017.
The rise in a focus of vendors on the emerging markets, such as Asia-Pacific and LAMEA, is expected to boost the market growth. Asia-Pacific is projected to witness significant growth in future, owing to increase in R&D investment and surge in osteoarthritis awareness. Furthermore, this region presents remarkable opportunities for the venture capitalists and investors, as the developed markets are comparatively saturated.
North America was the leading revenue contributor to the global market in 2017, owing to high adoption rate of cartilage repair products. However, Asia-Pacific is expected to grow at the highest CAGR of 16.5% from 2018 to 2025, due to increase in disposable income; surge in research, development, & innovation activities; and rise in awareness towards cartilage repair products.
The report provides an extensive competitive analysis and profiles of the key market players such as Arthrex, Inc., B. Braun Melsungen AG, Conmed Corporation, Johnson & Johnson, Osiris Therapeutics, Inc., RTI Surgical, Inc., Smith & Nephew PLC, Stryker Corporation, Vericel Corporation, and Zimmer Biomet Holdings, Inc. The other players in the value chain (not included in the report) include Anika Therapeutics, Inc., Collagen Solutions LLP, and Histogenics Corporation.
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