Market Trends of Global Cartilage Repair/Regeneration Industry
This section covers the major market trends shaping the Cartilage Repair/Regeneration Market according to our research experts:
Knee Application Segment is Expected to Hold a Major Share in the Cartilage Repair/Regeneration Market
The knee is the largest joint in the body and most of the body weight goes through the knee when a person walks. Cartilage damage is a relatively common type of injury that often affects the knees. The knee segment is likely to grow over the forecast period due to factors such as increased knee replacements, knee implants, and the growing prevalence of osteoarthritis. For instance, as per the report from National Arthritis Prevalence Projections, 67 million people are likely to be affected by Arthritis in 2025. This figure is projected to reach 78 million by the year 2040.
Furthermore, increased research and development, new product launches, mergers, and acquisitions are also boosting the market growth. For instance, in April 2021, Minor League Baseball and Stryker collaborated to make Stryker the official joint replacement partner for SmartRobotics. Mako SmartRobotics, the newest advancement in joint replacement technology from Stryker, employs 3D CT-Based planning software to replace the hip and knee. It aids surgeons in building a 3D model of each patient's particular anatomy. Moreover, in June 2021, DJO, LLC acquired Mathys AG Bettlach, a Swiss company that creates and sells cutting-edge artificial joint replacement solutions.
Because of the aforementioned factors, the knee segment is anticipated to face growth in the cartilage repair/regeneration market over the forecast period.
North America is Expected to Dominate the Cartilage Repair/Regeneration Market Over the Forecast Period
North America holds most of the share in the cartilage repair/regeneration market. The primary growth driver of the cartilage repair/regeneration market in North America is the increasing incidence of bone and joint disorders, and the rising geriatric and obese population. For instance, as per Population Reference Bureau, the number of Americans aged 65 and older is projected to be 95 million by 2060. Moreover, as per the World Obesity Atlas, approximately 134 million men and 164 million women in America are expected to be affected by the complications of obesity by 2030.
Sports-related injuries are more in the United States which causes the utilization of products in the cartilage repair/regeneration Market. As per the 2022 update from the John Hopkins Medicine, more than 170,000 children ages, 5 to 14 are treated in hospital emergency rooms for basketball-related injuries in the United States. Additionally, the market for cartilage repair and regeneration in North America is growing due to an increase in product launches, mergers, and acquisitions. For instance, in 2021 May, the Georgia-based Arthritis Foundation announced the launch of a new app (Vim, the Arthritis Foundation's mobile app) and kicked off Arthritis Awareness Month with the release of key findings from a patient study.
Due to the factors mentioned above North America is likely to growth over the forecast period.
