Global Knee Cartilage Repair Market: Analyst’s Assessment
Soon, geriatrics will constitute for a prominent chunk of the World’s population, and the healthcare industry stands to gain strong impetus from it as people aged over 65 years are highly prone to various disorders. One of the most common disorders among geriatrics is damage to the knee cartilage or the reduction of lubricants over a period of time. Thankfully, technological advancements have led to therapeutic repairs that can ideally regenerate or replace cartilage and the market for the same is flourishing. According to this business intelligence study, the demand in the global knee cartilage repair market will expand at a formidable CAGR of 5.95 during the forecast period of 2017 to 2023. In terms of revenue, there will be opportunities worth US$2,751.8 mn in the knee cartilage repair market across the world by the end of 2023, substantially more than its evaluated valuation of US$1,945.9 mn in 2017.
Apart from the increasing percentage of geriatrics, knee cartilage repair market is gaining traction from growing obesity concerns across the globe. Obese individuals are highly likely to cause damage to their knees over a period of about two decades, which eventually leads to the loss of cartilage in the joints. Additionally, arthritis remains a ubiquitous disease and healthcare infrastructure is improving in several emerging economies. All these factors are expected to driver the demand for knee cartilage repair during a foreseeable future. On the other hand, lack of awareness regarding the availability of innovative therapies and considerable cost of the repair are moderate restraints over the prosperity of this market. That being said, government initiatives and subsidies to promote the advanced methods is expected to overcome the challenges and open new opportunities in the market for knee cartilage repair market.
Arthroscopic Chondroplasty Leading Procedure Segment
On the basis of procedure type, the knee cartilage repair market has been segmented into autologous chondrocyte, osteochondral grafts transplantation, microfracture, arthroscopic chondroplasty, implant, cell-based cartilage, and others. Among these, arthroscopic chondroplasty, microfracture, and implant are the three segments that have been showing greatest promise. 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. The damage caused through meniscal tears is trimmed and smoothened down through chondroplasty. Faster recovery time of arthroscopic chondroplasty as compared to other traditional methods of open knee surgeries is likely to drive the segment during the forecast period. By 2023, the arthroscopic chondroplasty segment is projected to generate a demand worth of US$774.7 mn. On the other hand, the microfracture segment is estimated to be worth US$729.2 mn by 2023.
North America to Provide for a Demand worth of US$1,158.5 mn by 2023
Geographically, the global knee cartilage repair market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East & North Africa, and Rest of the World. As of 2017, North America accounted for the largest share of 41.1% of the overall knee cartilage repair market, followed by Europe at about 28%. North America and Europe are expected to retain their leadership positions through 2023, promising to collectively generate a demand worth of US$1,898.8 mn. Increase in orthopedic procedures in the developed country of the U.S., rise in incidence of obesity, and introduction of technologically advanced products are some of the factors augmenting the demand in the North America knee cartilage repair market. Asia Pacific is the third most lucrative region and owing to its vast population and improve healthcare infrastructure, the demand is projected to expand at an above-average CAGR of 6.6% during the forecast period of 2017 to 2023.
This report contains a featured and descriptive chapter on the competitive landscape of the global knee cartilage repair market, profiling a number of prominent players. Some of the key players of this market are B. Braun Melsungen AG, DePuy Synthes, Zimmer Biomet Holdings, Inc., MEDIPOST Co. Ltd., Histogenics Corporation, Smith & Nephew plc, and Stryker Corporation.
Global Knee Cartilage Repair Market: Overview
Cartilage is a soft and rubbery material present in the bone joint and is involved in preventing friction between the bones by acting as a shock absorber in the joint. Damage to cartilage restricts the normal movement of knee causing pain and most often occurs after a traumatic and twisting injury to the knee. If left untreated, it may require knee replacement surgery. 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.
This report provides in-depth analysis of the global knee cartilage repair products market. The stakeholders for this report include companies involved in the research and development, manufacturing and commercialization of knee cartilage products, suppliers and new entrants planning to invest in this market. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition for different knee cartilage repair products in six major regions.
Global Knee Cartilage Repair Market: Key Research Aspects
The market overview section of this report analyzes market dynamics such as drivers, restraints and opportunities that influence the knee cartilage repair market in the current and future scenario. Further, Porter’s five forces analysis and market attractiveness analysis have been included in market overview section in order to explain the intensity of competition in the market. Porter’s five forces analysis in the section depicts the attractiveness of the knee cartilage repair market in terms of five different attributes that have an effect on the sustenance of the players in the knee cartilage repair market. Competitive scenario among the market players is analyzed through a market share analysis of major market players in the competitive landscape section of the report. All these factors will help the market players to decide about the business strategies and plans to be incurred in future for strengthening their position in the global market.
Global Knee Cartilage Repair Market: Segmentations
Based on the procedure types, the global knee cartilage repair market is segmented into arthroscopic chondroplasty, autologous chondrocyte implantation, osteochondral grafts transplantation, cell-based cartilage resurfacing, implants transplant, microfracture and others.
Geographically, the knee cartilage repair market has been differentiated into six major regions: North America, Europe, Asia Pacific, Latin America, the Middle East & North Africa and Rest of the World (RoW). Moreover, analysis for the major country comprising U.S. Canada, Germany, U.K, Japan China, India, Australia, Brazil, Mexico, Egypt, Kuwait, UAE and Saudi Arabia have also been provided in the report. The market value for all the countries has been provided from the year 2017 to 2023, considering 2016 as base years.
For both the segments, the report provides market estimation of knee cartilage repair products in terms of revenue (US$ Mn) market and with CAGR % for period 2017 to 2023, considering 2016 as the base year.
Global Knee Cartilage Repair Market: Competitive Landscape
This report also includes recommendations section that will assist new companies in establishing their presence and market players in expanding their market share in the knee cartilage repair market. The report concludes with the company profile section which includes company overview, financial overview, product portfolio, business strategies and recent developments for market players. The major players that are profiled in the report include DePuy Synthes, Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, and B. Braun Melsungen AG.
Key Segments of the Global Knee Cartilage Repair Market
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