Knee Cartilage Repairing Market Projected To Grow With Significant CAGR Over The Forecast Period
Global Knee Cartilage Repairing Market: Cartilage is the rubbery and soft material present in bone joints and prevents the friction between the bones. The knee cartilage available in the market include fibrocartilage, articular cartilage, and elastic cartilage. Cartilage damage mainly occurs due to the osteoarticular disease, various physiological conditions, and accidents. Damage to the cartilage restricts normal movements of the knee causing pain and often occurs after traumatic and twisting injuries of the knee. Knee cartilage repair is beneficial for the conditions like delayed unions, slow healing wounds, and malunions.
Increase in obese population, increase in the geriatric population, rising incidence of sports injuries, osteoarthritis, and chondrodystrophic are leading factors which are driving the growth of knee cartilage repairing market. Technological advancements, the rise in number of accidents & related injuries and increasing demand for minimally invasive surgical products are the key factors boosting the growth of knee cartilage repairing market. However, the high cost of therapy and unfavorable reimbursement scenario are the major restraining factors of the knee cartilage repairing market. Complexities of cartilage repair surgeries are also expected to hamper the growth of knee repairing market.
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The knee cartilage repairing market is divided on the basis of-
1. Treatment modality
- Cell Based Approaches
- Chondrocyte Transplantation
- Growth Factor Technology
- Stem Cells
- Non-cell Based Approaches
- Tissue Scaffolds
- Cell-free Composites
2. Applications
- Hyaline Cartilage
- Fibrocartilage
3. Procedure type
- Arthroscopic Chondroplasty
- Osteochondral Grafts Transplantation
- Autologous Chondrocyte
- Implants Transplant
- Cell-based Cartilage Resurfacing
- Microfracture
- Others
3. End-users.
Hospitals, orthopedic clinics and ambulatory surgical centers.
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And lastly on the basis of geographical regions, knee cartilage repairing market has been segmented into following regions-North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts for a major revenue share in the global market followed by Europe. The factors which are responsible for the growth of knee cartilage repairing market in the region are an increase in geriatric population and rapid degenerative changes of the knees. Furthermore, the growth of the knee cartilage repairing market is partly driven by the expanded access to health insurance coverage in the U.S. through the Medicare and the Medicaid. The presence of skilled healthcare professionals as well as rising bone and joint disorders expected to create the huge demand for surgery products in Germany. Asia Pacific is the most profitable region for knee cartilage repairing market owing to increase in the prevalence of diabetes, rise in prevalence of osteoporosis in Australia and New Zealand, the number osteoporosis at different sites in the skeleton was 84,000 cases in 2007, which is expected to reach 116,000 by 2020), increase in demand for elder care and treatment for age related conditions, and rise in medical tourism in Asia Pacific region anticipated to fuel the knee cartilage repairing market. Latin America and Middle East & Africa region are expected to fuel the demand for cartilage repair products during the forecast period due to increase in obese population.
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Some of the key players in knee cartilage repairing market are Medtronic (U.S.), Biomet, Inc. (Zimmer Biomet Inc.) (U.S.), ConMed Corporation (U.S.), Depuy Synthes (Johnson and Johnson Services, Inc.) (U.S.), Arthrex, Inc. (U.S.), Smith & Nephew PLC (U.K.), LifeNet Health, Inc. (U.S.), Anika Therapeutics, Inc. (U.S.), Stryker Corporation (U.S.), and Vericel Corporation (U.S.), to name a few. In 2016, FDA approved the autologous cultured chondrocytes on porcine collagen membrane (Maci) by Vericel Corporation for symptomatic repair, full-thickness cartilage defects of knee in the adults. And in 2014, DePuy Synthes signed an agreement with Blue Belt Technologies Inc. to access the Sigma HP partial knee on Navio surgical system.
Rising incidence and prevalence of obesity and diabetes is expected to propel the knee cartilage repairing market. Also, developing technology, increase in the road accidents and sports-related injuries are also helping fuel the market growth of knee cartilage repair. For instance, the German firm Amedrix GmbH has developed the minimally invasive surgical procedure for the treatment of cartilage defects.
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