Autologous Matrix-induced Chondrogenesis Market
Autologous Matrix-induced Chondrogenesis Market (Material - Hyaluronic Acid, Collagen, Polyethylene Glycol (PEG), and Poly Lactic-Co-Glycolic Acid (PGLA)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- 114 Pages
Global Autologous Matrix-Induced Chondrogenesis Market: Snapshot
Autologous matrix-induced chondrogenesis (AMIC) applies bi-layer collagen membrane through microfracture surgery to fix the damage to the articular cartilage damage. The AMIC procedure is a one-step that uses the microfracturing method, which is an established first-line treatment. The growing demand for minimal invasive procedures and a high prevalence of bone and joint disorders are expected to drive the growth of this market across the globe. According to the research report, the global autologous matrix-induced chondrogenesis market was valued at US$89.71 mn in 2015 and is expected to be worth US$186.38 mn by 2024. Between the years of 2016 and 2024, the global market is expected to progress at a CAGR of 8.6%.
Collagen to Lead the Pack as its Usage Gains Value in Tissue Engineering Sector
On the basis of material the global autologous matrix-induced chondrogenesis market segmented into hyaluronic acid, collagen, polyethylene glycol (PEG), poly lactic-co-glycolic acid (PGLA) and others. Of these, the collagen segment held the largest share of this market in 2015, which was closely followed by hyaluronic acid. Collagen accounts for approximately 30% of all protein within the human body. Therefore, it is widely used for tissue engineering applications. High tensile strength and excellent handling properties of collagen are expected to drive the segment’s growth in the coming years.
Several players operating in the global market are focusing on developing technologically advanced products, which will ensure swift uptake of autologous matrix-induced chondrogenesis. For instance, In North America-based Geistlich Pharma, Inc. launched its line of bone harvesting instruments in February 2016. The line include products such as Geistlich SmartScraper, Geistlich SafeScraper TWIST, and Geistlich Micross.
North America to Dominate Global Market with Massive Pool of Geriatrics
In terms of geography, the autologous matrix-induced chondrogenesis market is fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the largest share of the autologous matrix-induced chondrogenesis market in 2015, followed by Europe. Increasing prevalence of various bone and joint disorders such as arthritis and rheumatoid arthritis amongst the geriatric population is likely to support the growth of autologous matrix-induced chondrogenesis market in North America.
Autologous matrix-induced chondrogenesis market in Europe, Germany, and France accounted more than 45% share of the total Europe autologous matrix-induced chondrogenesis market in 2015. Asia Pacific is also expected to be the fastest-growing market, expanding at a phenomenal CAGR compared to other regions. Increasing demand for minimal invasive procedures and increasing disposable income, along with increasing prevalence of cancer is expected to boost the autologous matrix-induced chondrogenesis market in the region during the forecast period.
The leading players operating in the global AMIC market are JRI Orthopaedics Ltd., BioTissue AG, Anika Therapeutics, Inc., B. Braun Melsungen AG, Arthro-Kinetics, Geistlich Pharma AG, CartiHeal, Matricel GmbH, Smith & Nephew plc and Zimmer Biomet Holdings. The competitive landscape of the global market is fairly consolidated as just a few players hold a significant share in the overall market. In the coming years, these players are expected to focus on expanding their reach by penetrating into developing countries of Brazil, India, South America, and Mexico. The report indicates that this move comes as the companies are trying to bring down the cost of their products by using the cheaper skilled labor in these nations and benefit from their booming medical tourism industry.
Rise in Incidence of Joint and Bone Disorders to Boost Autologous Matrix-induced Chondrogenesis Market
To repair articular cartilage injury, autologous matrix-induced chondrogenesis (AMIC) makes use of a bi-layer collagen membrane and it is used via microfracture surgery. The AMIC protocol is a one-step process that employs the microfracturing process, a well-known first-line therapy. The growth of the global autologous matrix-induced chondrogenesis market is projected to be fueled by high incidences of joint and bone joint disorders and rising demand for minimally invasive procedures.
Rise in Geriatric Population to Shoot Up Demand in the Market
Because of the increasing demand for minimally invasive procedures, sales of autologous matrix-induced chondrogenesis devices and materials are projected to increase dramatically in the coming years. Another key factor that is expected to boost the growth of the global autologous matrix-induced chondrogenesis market in the coming years is growing public understanding of this technique. Furthermore, the expanding base of geriatric population around the world is seen as a crucial driver that is expected to propel the global autologous matrix-induced chondrogenesis market further in the coming years.
North America is estimated to dominated the global autologous matrix-induced chondrogenesis market in the last few years and is expected to continue to expand rapidly in the coming years. The growing prevalence of many bone and joint diseases, such as arthritis and rheumatoid, as well as the growing geriatric population, are two big drivers that are expected to propel the North America market forward in the coming years. Besides that, due to France and Germany's increasing contributions, Europe is expected to experience stable growth in the coming years. Asia Pacific, on the other hand, is expected to expand rapidly in the coming years. The growing demand for minimally invasive treatments, as well as rising consumer disposable income, are two main drivers that are expected to boost the growth of the said market in the Asia Pacific region in the years to come.
Increased Understanding of the Benefits of Vial Adaptors to Boost Vial Adaptors for Reconstitution Drug Market
The rising occurrence and prevalence of chronic diseases such as kidney disease, cancer, and various infectious diseases is a key factor contributing to the expansion of the global vial adaptors for reconstitution drug market. According to the World Health Organization (WHO), infectious diseases claim the lives of nearly 50,000 individuals each day. In the last 20 years, nearly 30 new diseases have come up threatening the health and well-being of hundreds of millions of people.
Furthermore, increasing understanding of the benefits of utilizing vial adaptors, as well as an increase in the geriatric population, is likely to bolster growth of the global vial adaptors for reconstitution drug market. The existence of alternatives, on the other hand, is a big downside for business expansion.
Rise in the Incidences of Contagious Diseases is Foreseen to Work in Favor of the Market
Pathogenic micro-organisms like fungi, parasites, viruses, and bacteria, cause infectious diseases; they are able to transmit disease from one individual to another, either indirectly or directly. About 15.5 million people in the US are afflicted with communicable diseases, as per the Centers for Disease Control and Prevention. The requirement for adapters grows as the occurrence and prevalence of contagious diseases rises. According to statistics, the expansion of the industry is directly related to the rise in the number of patients. As a result, the global vial adaptors for reconstitution drug market is projected to expand, owing to the increasing prevalence of contagious diseases.
North America is predicted to lead the global vial adaptors for reconstitution drug market in the forthcoming years. Various factors such as the involvement of leading companies, existing healthcare facilities, and the availability of generic medicines are some of the key factors responsible for the market's large share. In addition to that, favorable government policies and an expansion in the number of research collaborations are projected to propel the industry forward. Amongst the developed nations, the US has a one-of-a-kind healthcare infrastructure. However, the country's hospital costs are very high.
Global Autologous Matrix-Induced Chondrogenesis Market: Scope and Methodology
This report on the global autologous matrix-induced chondrogenesis market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in this global market.
Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product features of different types of services. Additionally, market related factors such as increasing demand for minimal invasive procedures and increasing prevalence of bone and joint disorder in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Autologous Matrix-Induced Chondrogenesis Market: Segmentation
Based on the material the market has segmented into hyaluronic acid, collagen, polyethylene glycol (PEG), Poly lactic-co-glycolic acid (PGLA) and others segment. Geographically, the global market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Japan, India, Saudi Arabia, UAE, Brazil, and Mexico.
Autologous Matrix-Induced Chondrogenesis Market: Geographical and Competitive Dynamics
The report also profiles major players in this market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Anika Therapeutics, Inc., Arthro-Kinetics, B. Braun Melsungen AG, BioTissue AG, CartiHeal, Geistlich Pharma AG, JRI Orthopaedics Ltd., Matricel GmbH, Smith & Nephew plc and Zimmer Biomet Holdings.
The global autologous matrix-induced chondrogenesis market has been segmented as follows: