Braun Melsungen AG, DePuy Synthes, Histogenics Corporation, and ISTO Technologies, Inc., among others, are the prime players operating in the global knee cartilage repair market. This market is immensely fragmented in nature with top players being dominant. There is intense research going on in the market for bringing in new technological advancements, as per Transparency Market Research (TMR). Numerous stringent standards implemented by the FDA may pose a barrier for emerging entrants. Hence, the threat of new entrants in this market is low. The report also opines that the proliferation of number of suppliers of raw materials present a huge choice to manufacturers.
The global knee cartilage repair market is predicted to touch US$2.7 bn by 2023, rising at a CAGR of 5.80% from 2015 to 2023. In terms of knee cartilage repair procedure type, arthroscopic chondroplasty is predicted remain as the most dominant end-use application in the market and is poised to take up a share of approximately 28% in the market by 2023. On the other hand, micro fractures are also gaining popularity due to the increasing demand for this procedure from athletes. In addition, this procedure is also gaining importance in operations wherein long-term knee health is a key factor because of the fact that micro fractures exhibit a decreased risk of post-surgical complications. Hence, this segment will also gain a key position in the market and will reach a value of US$729.2 mn by 2023.
Increasing Prevalence of Degenerative Lifestyle Conditions to Boost North America Knee Cartilage Repair Market
In terms of regions, North America emerged as the leading market for the products of knee cartilage repair. This region constituted a share of 40.7% in 2014 and was trailed by Europe. The increasing occurrence of road accidents, the easy availability of cutting-edge knee cartilage repair facilities, and the growing prevalence of degenerative lifestyle conditions in the region of North America will boost the development of the market here. Furthermore, the progressive healthcare research and development framework in North America will bring in more growth opportunities in this market owing to the proliferation of cost-effective products.
Dearth of Health Insurance Schemes in Emerging Nations may Impede Market Growth
The global knee cartilage repair market is fuelled by the increasing occurrence of numerous joint and bone disorders. These may include arthritis or rheumatoid arthritis, etc. due to the increasing aging population globally. In addition, the increasing healthcare awareness and the rising adoption of adventurous sports in youngsters and the older generation have raised sports related injuries, thus driving the growth of the overall market. On the other hand, the dearth of health insurance schemes in emerging nations may come up as roadblock in the development of the market for knee cartilage repair, stated a TMR analyst.
Nonetheless, the emerging economies will present numerous development opportunities in the global knee cartilage repair market. “This is due to the fact that numerous leading manufacturers operating in this market are moving toward gaining a strong foothold in developing economies of Mexico, Brazil, South Africa, India, and China,” says a TMR analyst.
This information is based on the findings of a report published by Transparency Market Research titled, “Knee Cartilage Repair Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.”
The global knee cartilage repair market is segmented into the following categories:
Global Knee Cartilage Repair Market, by Procedure Types
- Arthroscopic Chondroplasty
- Autologous Chondrocyte
- Osteochondral Grafts Transplantation
- Cell-based Cartilage Resurfacing
- Implants Transplant
- Other Products
Global Knee Cartilage Repair Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest pf APAC
- Latin America
- Rest of LATAM
- Middle East & North Africa
- Saudi Arabia
- Rest of MENA
- Rest of the World
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