Global Cartilage Repair/Regeneration Market Size

Cartilage Repair/Regeneration Market Analysis

The cartilage repair/regeneration market is expected to record a CAGR of 8% over the forecast period (2022-2027).

COVID-19 had a significant impact on the overall healthcare industry. The cartilage repair and regeneration market faced a reduction during the early stages of the pandemic because of widespread lockdowns, refused wound care services, and canceled or postponed elective surgeries. However, it is anticipated that demand for products that promote cartilage repair and regeneration would significantly increase post-pandemic. According to the article published in PubMed Central in 2020 under the title 'Coronavirus disease 2019 pandemic: should we delay cartilage regenerative procedures and accept the consequences, or can we find a new normality?', prior to being admitted to the hospital during COVID-19, individuals scheduled for a cartilage treatment were required to go to the outpatient clinic and undergo a test for COVID-19. Moreover, if the patient was affected with COVID-19 the surgeries and procedures were again got delayed. Thus due to the facts mentioned above, COVID-19 had a significant impact on the cartilage repair/ regeneration market.

The prime factor propelling the cartilage repair/regeneration market globally is the rising prevalence of joints and bone disorders around the world. Furthermore, sports injuries, accidents, growing geriatric and obese populace across the globe are the few other significant factors attributing to the growth of the cartilage repair/regeneration market globally. In addition, the World Health Organization fact sheet on "Ageing and health" published in October 2021, the share of the population aged 60 years and over was 1 billion in 2020 and it is expected to increase to 1.4 billion by the year 2030 and 1 in 6 people is anticipated to be aged 60 years or over worldwide by 2030. This population was more prone to getting diseases and undergoing cartilage repair/regeneration surgeries. This increased geriatric population is likely to boost market growth. Moreover, technological advancements and the development of innovative treatment approaches are also driving the growth of the market. Cartilage regeneration is presently encouraged using novel medical devices and therapeutics such as platelet-rich plasma injection, allografts, marrow stimulation drills, and extracellular matrix implants.

As per the aforementioned factors, the cartilage repair/regeneration market is likely to grow over the forecast period. However, high costs of cartilage repair procedures and regulatory issues restrain the market growth.