Global Cartilage Degeneration Market: Snapshot
Cartilage is a soft, rubbery material found in joints. The function of the cartilage is to avoid friction between bones; thus, it works as a shock absorber in the joint. Injury to the cartilage restricts the regular movement of the joint and can cause severe pain. If left untreated or if the injury is serious, it may require joint replacement surgery. Impairment to articular cartilage generally occurs after accidental injury or trauma to joints such as knees or hips. Cartilage degeneration may occur due to diseases such as arthritis and osteoarthritis as well.
Factors such as the increase in the global geriatric population, increase in the number of sports injuries, and rise in the obese population are key factors which drive the growth of cartilage degeneration market. However, increase in the cost of surgical treatment and devices and lack of reimbursement policies in emerging countries are some of the factors which may hinder the market growth.
According to Transparency Market Research, the global cartilage degeneration market was valued at US$9.5 bn in 2017 and is likely to reach US$14.7 bn by 2025. The market is expected to exhibit a strong 5.6% CAGR in the forecast period.
Joint Replacements Likely to Lead Demand from Cartilage Degeneration Market
The global cartilage degeneration market is classified by procedure type, application, and treatment delivery channel. By procedure type the market is categorized into joint replacements, chondroplasty, osteochondral transplants, micro-fracture, meniscus transplants, cell based cartilage resurfacing, autologous chondrocyte implantation (ACI), and others. By application, the cartilage degeneration market is divided into knees, hips, and others. By treatment delivery channel the market is classified into hospitals, academic and research institutes, specialty clinics, ambulatory surgical centers, and others.
By procedure type, joint replacements accounted for the largest share of the market in 2016. Following joint replacements, the chondroplasty segment accounted for a major share in the cartilage degeneration market in 2016. The key elements responsible for the growth of this market are the easy accessibility of the procedure in hospitals and diagnostic centers. Chondroplasty also takes less time for recovery in comparison with other traditional methods of surgery. Autologous chondrocyte implantation (ACI) is a comparatively new technology used for the treatment of isolated full-thickness articular cartilage imperfections of the knee.
By application, the knee surgery or repair market is anticipated to dominate the cartilage degeneration market in the near future. Knees are the largest joints in a human body. According to a report from the Centers for Disease Control and Prevention, in 2014, about 13% of women and 10% of men aged 60 years and older have indicative knee osteoarthritis symptoms. The growing prevalence of the disease is thus likely to drive the demand for knee surgeries in the coming years.
North America to Dominate Cartilage Degeneration Market due to Widespread Healthcare Infrastructure
Geographically, the global cartilage denegation market has been differentiated into the following regional segments: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the global market till 2025 due to the widespread access to satisfactory reimbursement policies due to the provision of the Affordable Care Act and increasing incidence of joint injuries. The North America market for cartilage degeneration was valued at US$3.9 bn in 2017 and is expected to rise to US$6.1 bn by 2025 at a stable CAGR of 5.7%.
Asia Pacific is projected to be a rapidly growing market for cartilage degeneration procedures during the forecast period due to robust economic growth in countries such as Australia, the Philippines, China, Singapore, India, and others. Furthermore, substantial growth in the geriatric population is anticipated to encourage the growth of the global cartilage degeneration market in the region. The Asia Pacific cartilage degeneration market is likely to exhibit a robust 6.1% CAGR between 2017 and 2025, rising from a valuation of US$1.9 bn to US$3.2 bn therein.
The global cartilage degeneration market includes key companies such as DePuy Synthes, Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, and B. Braun Melsungen AG, among others.
Global Cartilage Degeneration Market: Overview
This report on cartilage degeneration studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various products as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global cartilage degeneration market with respect to the leading market segments based on major products, key applications, end-users, and geographies.
Global Cartilage Degeneration Market: Scope and Research Methodology
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2016 to 2024 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all segments, considering 2016 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global cartilage degeneration market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Global Cartilage Degeneration Market: Segmentation
The global cartilage degeneration market is classified in to procedure type, application, and treatment delivery channels. By procedure type the market is categorized as Joint Replacements, Chondroplasty, Osteochondral Transplants, Micro-Fracture, Meniscus Transplants, Cell based Cartilage Resurfacing, Autologus Chondrocyte Implantation (ACI), Others. By application the market is divided in to knee, hips & others. By treatment delivery channels the market is classified as Hospitals, Academic & Research Institutes, Specialty Clinics, Ambulatory Surgical Centers, Others.
Geographically, the cartilage degeneration market has been segmented into five regions: North America, Europe, Asia Pacific, Europe, Middle East & Africa (MEA), and Latin America. Each regional market has been further categorized into major product, material, and end-user segments considered within the scope of the study. Key country (U.S., Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2016 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year.
Global Cartilage Degeneration Market: Competitive Dynamics
The report also profiles key players operating in the cartilage degeneration market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include B. Braun Melsungen AG, DePuy Synthes, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet.
The global cartilage degeneration market is segmented into the following categories:
Global Cartilage Degeneration Market, by Procedure Type
- Joint Replacements
- Osteochondral Transplants
- Meniscus Transplants
- Cell based Cartilage Resurfacing
- Autologus Chondrocyte Implantation
Global Cartilage Degeneration Market, by Application
Global Cartilage Degeneration Market, by Treatment Delivery Channels
- Academic & Research Institutes
- Specialty Clinics
- Ambulatory Surgical Centers
Global Cartilage Degeneration Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA