Cartilage Repair/Regeneration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cartilage Repair/Regeneration Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The cartilage repair/regeneration market is expected to record a CAGR of 8% over the forecast period (2022-2027).

COVID-19 had a significant impact on the overall healthcare industry. The cartilage repair and regeneration market faced a reduction during the early stages of the pandemic because of widespread lockdowns, refused wound care services, and canceled or postponed elective surgeries. However, it is anticipated that demand for products that promote cartilage repair and regeneration would significantly increase post-pandemic. According to the article published in PubMed Central in 2020 under the title “Coronavirus disease 2019 pandemic: should we delay cartilage regenerative procedures and accept the consequences, or can we find a new normality?”, prior to being admitted to the hospital during COVID-19, individuals scheduled for a cartilage treatment were required to go to the outpatient clinic and undergo a test for COVID-19. Moreover, if the patient was affected with COVID-19 the surgeries and procedures were again got delayed. Thus due to the facts mentioned above, COVID-19 had a significant impact on the cartilage repair/ regeneration market.

The prime factor propelling the cartilage repair/regeneration market globally is the rising prevalence of joints and bone disorders around the world. Furthermore, sports injuries, accidents, growing geriatric and obese populace across the globe are the few other significant factors attributing to the growth of the cartilage repair/regeneration market globally. In addition, the World Health Organization fact sheet on "Ageing and health" published in October 2021, the share of the population aged 60 years and over was 1 billion in 2020 and it is expected to increase to 1.4 billion by the year 2030 and 1 in 6 people is anticipated to be aged 60 years or over worldwide by 2030. This population was more prone to getting diseases and undergoing cartilage repair/regeneration surgeries. This increased geriatric population is likely to boost market growth. Moreover, technological advancements and the development of innovative treatment approaches are also driving the growth of the market. Cartilage regeneration is presently encouraged using novel medical devices and therapeutics such as platelet-rich plasma injection, allografts, marrow stimulation drills, and extracellular matrix implants.

As per the aforementioned factors, the cartilage repair/regeneration market is likely to grow over the forecast period. However, high costs of cartilage repair procedures and regulatory issues restrain the market growth.

Key Market TrendsKnee Application Segment is Expected to Hold a Major Share in the Cartilage Repair/Regeneration Market

The knee is the largest joint in the body and most of the body weight goes through the knee when a person walks. Cartilage damage is a relatively common type of injury that often affects the knees. The knee segment is likely to grow over the forecast period due to factors such as increased knee replacements, knee implants, and the growing prevalence of osteoarthritis. For instance, as per the report from National Arthritis Prevalence Projections, 67 million people are likely to be affected by Arthritis in 2025. This figure is projected to reach 78 million by the year 2040.

Furthermore, increased research and development, new product launches, mergers, and acquisitions are also boosting the market growth. For instance, in April 2021, Minor League Baseball and Stryker collaborated to make Stryker the official joint replacement partner for SmartRobotics. Mako SmartRobotics, the newest advancement in joint replacement technology from Stryker, employs 3D CT-Based planning software to replace the hip and knee. It aids surgeons in building a 3D model of each patient's particular anatomy. Moreover, in June 2021, DJO, LLC acquired Mathys AG Bettlach, a Swiss company that creates and sells cutting-edge artificial joint replacement solutions.

Because of the aforementioned factors, the knee segment is anticipated to face growth in the cartilage repair/regeneration market over the forecast period.

North America is Expected to Dominate the Cartilage Repair/Regeneration Market Over the Forecast Period

North America holds most of the share in the cartilage repair/regeneration market. The primary growth driver of the cartilage repair/regeneration market in North America is the increasing incidence of bone and joint disorders, and the rising geriatric and obese population. For instance, as per Population Reference Bureau, the number of Americans aged 65 and older is projected to be 95 million by 2060. Moreover, as per the World Obesity Atlas, approximately 134 million men and 164 million women in America are expected to be affected by the complications of obesity by 2030.

Sports-related injuries are more in the United States which causes the utilization of products in the cartilage repair/regeneration Market. As per the 2022 update from the John Hopkins Medicine, more than 170,000 children ages, 5 to 14 are treated in hospital emergency rooms for basketball-related injuries in the United States. Additionally, the market for cartilage repair and regeneration in North America is growing due to an increase in product launches, mergers, and acquisitions. For instance, in 2021 May, the Georgia-based Arthritis Foundation announced the launch of a new app (Vim, the Arthritis Foundation's mobile app) and kicked off Arthritis Awareness Month with the release of key findings from a patient study.

Due to the factors mentioned above North America is likely to growth over the forecast period.

Competitive Landscape

The Cartilage repair/regeneration market is moderately fragmented and competitive. Market players in the global cartilage repair/regeneration market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions & mergers, and partnerships. The major players are Zimmer Biomet, Stryker Corporation, Arthrex, Inc., Smith & Nephew plc, and Vericel Corporation among others.

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