Transparency Market Research Report Added "Knee Cartilage Repair Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023"
Albany, NY -- (SBWIRE) -- 03/09/2017 -- Knee Cartilage Repair Market: Snapshot
Cartilage is a soft and rubbery material found in the bone joint, which prevents friction between the bones as it acts as a shock absorber. Damage to cartilage restricts the normal movement of knee and can cause pain. If left untreated, it may require knee replacement surgery for correction. Damage to the articular cartilage most often occurs after a traumatic and twisting injury to the knee. The global knee cartilage repair market is predominantly driven by the rise in the global geriatric population and lifestyle changes coupled with growing awareness about sports and outdoor activities among the younger as well as older generation. Compounding this effect, the elderly and obese populations have been observed to be highly prone to degenerative diseases such as osteoarthritis, rheumatoid arthritis, and other trauma injuries.
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 bolstered the growth of this industry. However, poor or lack of reimbursement for innovative technologies, especially in developed nations, has negatively affected the growth of the market. Moreover, side effects caused due to off-label usage of certain products and negative media literature about slow tissue recovery have deterred market growth. The global market for knee cartilage repair was valued at US$ 1.6 bn in 2014, and rising at a healthy CAGR of 5.80% during the forecast period of 2015–2023, reaching a valuation US$2.7 bn by the end of 2023.
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Arthroscopic Chondroplasty Remains Dominant Segment
The prominent factors driving the growth of the market for knee cartilage repair are increase in the number of road accidents, industrial accidents, and slips and falls leading to severe knee damage and deformities. Additionally, growing sports and other mobile activities has increased the number of accidents. This has led to high incidence of various knee fracture-related problems. By procedure type, the global market for knee cartilage repair market has been segmented into arthroscopic chondroplasty, autologous chondrocyte, osteochondral grafts transplantation, cell-based cartilage resurfacing, implants transplant, microfracture, and others (e.g. meniscus).
In 2015, the segment of arthroscopic chondroplasty for knee cartilage repair accounted for the most prominent share at US$472.9 mn and is projected for the healthiest growth rate during the forecast period. Arthroscopic chondroplasty involves repair of a small area of damaged cartilage in the knee. During this procedure, the damaged tissue is removed, allowing healthy cartilage to grow in its place. Meniscal tears are the most common reason for arthroscopic chondroplasty. The damage caused through meniscal tears is trimmed and smoothened down through chondroplasty. The quick recovery time of arthroscopic chondroplasty as against other traditional methods of open knee surgeries is likely to drive the segment during the forecast period.
North America Most Lucrative Regional Market
Geographically, the global knee cartilage repair market has been segmented into North America, Europe, Asia Pacific, Latin America, The Middle East and North Africa, and the Rest of the World. North America currently accounts for the widest market, at 40.7% of the shares in 2014. This demand from North America is due to the factors such as increase in orthopedic procedures, rise in incidence of obesity, and introduction of technologically advanced products. Additionally, rise in incidence of obesity in increasing the update of knee cartilage procedures as individuals having higher body mass indexes (BMIs) have greater tendency of developing orthopedic disorder. According to the Truven Health Market Scan Database, more than 2.4 million procedures are performed annually to address cartilage, meniscus, ligament or tendon injuries in the knee. However, introduction of the Patient Health and Affordable Healthcare Act is expected to significantly impact knee cartilage repair market in the region of North America.
Some of the key players in the global market for knee cartilage repair are B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Smith & Nephew plc, Osiris Therapeutics, Inc., DePuy Synthes, Stryker Corporation, and Vericel Corporation.
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