According to a recent report by Reports and Data, the global Cartilage Repair Market is projected to reach USD 2,268.8 million by 2028, growing at a CAGR of 14.5% during the forecast period. The growth of the market is primarily attributed to the increasing incidence of joint injuries due to obesity, sports injuries, accidents, and other medical conditions.
Young adults and athletes who suffer knee joint injuries, such as meniscal or ligament tears, often require Cartilage Repair surgery. However, since cartilage healing is a slow process, procedures such as autologous chondrocyte implantation and cell-based cartilage resurfacing are utilized to promote the growth of new cartilage in joints. These procedures provide substantial relief from pain and allow better joint movement, ultimately helping to delay or prevent arthritis.
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Cartilage is a connective tissue present in joints and has limited ability to heal itself or accept donor cartilage due to its poor blood supply. As a result, major companies are investing in research and development to find better solutions for cartilage regeneration and repair, particularly as the degeneration of meniscus tissue affects many patients globally.
Recently, researchers have developed 3D technology that can bio-print a 3D hybrid tissue capable of regenerating cartilage using specialized bio-inks. These inks consist of hydrogels that help develop a new formulation that creates a microenvironment conducive to cell growth and provides structural support.
However, the high cost of Cartilage Repair surgeries and a shortage of skilled surgeons may impede revenue growth in the market in the future. According to the report, the fibrocartilage segment contributed significantly to revenue in 2020, while the cell-based segment represented the largest share of revenue.
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North America accounted for the largest revenue share in 2020, driven by increasing investments in research and development of cutting-edge Cartilage Repair procedures, rising prevalence of obesity, and increasing healthcare spending. The presence of various major players in the region is also boosting revenue growth.
Some of the leading companies in the global Cartilage Repair market include Zimmer Biomet, Stryker Corporation, DePuy Synthes, Smith & Nephew PLC, Vericel Corporation, Osiris Therapeutics Inc., B. Braun Melsungen AG, Anika Therapeutics Inc., Arthrex Inc., and Collagen Solutions PLC.
The report segments the global Cartilage Repair market based on treatment modality, application, treatment type, end use, and region. Treatment modalities include cell-based, non-cell-based, and growth factor technology, while applications include hyaline, fibrocartilage, elastic cartilage, and others. Treatment types include palliative, viscosupplementation, debridement & lavage, intrinsic repair stimulus, and others, while end-use includes hospitals, clinics, ambulatory surgical centers, and others.
In conclusion, the global Cartilage Repair market is expected to experience significant growth over the forecast period, driven by the increasing incidence of joint injuries and the development of advanced technologies for cartilage regeneration and repair. However, the high cost associated with Cartilage Repair surgeries and the shortage of skilled surgeons could pose challenges to the growth of the market.
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