Published: Jul, 2017
The global autologous matrix-induced chondrogenesis (AMIC) market has been expected in a publication prepared by Transparency Market Research (TMR) to witness strategies aimed toward business expansion in developing economies. Countries such as South Africa, Mexico, China, India, and Brazil could be focused upon by AMIC players for gaining a strategic position in the market. This has been anticipated to help companies reduce their AMIC product costs supported by the hiring of cheap but skilled labor in emerging markets. Compounding a 47.0% share in the market in 2015, Smith & Nephew Plc., Zimmer Biomet Holdings, and Geistlich Pharma AG could be key AMIC players.
The analysts at TMR have foreseen the global AMIC market to rise at a CAGR of 8.6% between 2016 and 2024 to achieve a revenue valuation of US$186.38 mn by the concluding forecast year. In 2015, the market had reached a US$89.71 mn. By material, the AMIC market for collagen could attain a higher share of almost 50.0% by 2024. Calculated to develop at an 8.3% CAGR, North America has been predicted to be a highly productive market for AMIC.
AMIC Products Gain Skyrocketing Traction with Rife Adoption of Minimally Invasive Procedure
In the next few years, the sale of AMIC products and materials could spike at a telling rate due to the surging demand for minimally invasive surgeries. Articular cartilage damage could be repaired with the biological treatment of AMIC which integrates microfracture surgery with bi-layer collagen I/III membrane application. The availability of this single-step procedure has allowed patients to have the alternative of opting for a minimally invasive procedure as a convenient solution to treat joint and bone disorders. The world AMIC market has been envisaged to receive a strong boost in its growth with the swelling pool of geriatric population easily vulnerable to such disorders.
Sports of various kinds have been witnessing a whole lot of participation in the recent time, which could increase further in future. This has been foretold to work in the favor of the world AMIC market as the number of sports injuries keeps elevating until the course of the forecast period.
Poor Reimbursement and Unavailability of Insurance Discourage Uptake of AMIC
Although the international AMIC market could embrace expansions in emerging countries, India, Australia, and Brazil have been envisioned to hinder its growth because of inefficient reimbursement systems. Patients could delay opting for AMIC procedures or products as most health insurance firms do not insure them. Besides this, there is a lack of sufficient clinical data that could advocate the long-term advantages or benefits of using AMIC.
Nevertheless, the demand for AMIC procedures and products has been prognosticated to be bolstered by the fast-progressing medical tourism sector. The rising collagen market could receive a strong momentum in growth due to a widespread application in tissue engineering. Dominating geographical markets such as North America accommodating an increasing pool of geriatrics have been projected to create opportunities in the international AMIC market.
The augmenting trend of adventurous sports susceptible to more number of injuries could surge the acceptance of AMIC products for treatment. This could be more common among the younger population involved in adventurous sporting activities. Moreover, speedy recovery obtained through AMIC treatment could globally benefit the market since it curbs the risk of needless complications.
The information presented in this review is based on a TMR report, titled, “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.”
The global autologous matrix-induced chondrogenesis market has been segmented as presented below:
Global Autologous Matrix-induced Chondrogenesis Market by Material
- Hyaluronic Acid
- Polyethylene Glycol (PEG)
- Poly Lactic-co-glycolic Acid (PGLA)
Global Autologous Matrix-induced Chondrogenesis Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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