Cartilage Degeneration Market Insights: US$16 Billion Revenue...

Cartilage Degeneration Market Insights: US$16 Billion Revenue Expected

Posted 2024-05-07 18:28:59

The global Cartilage Degeneration Market (軟骨変性市場) is predicted to be worth US$ 12.1 billion in 2022 and US$ 16 billion by the end of 2027. The next five years are expected to see a CAGR of 5.7% for the global market.

An increase in bone disorders as a result of an increase in accidents and sports injuries is predicted to have a positive impact on the cartilage degeneration market's growth potential in the next years. Throughout the course of the forecast period, other factors that are anticipated to propel the growth of the cartilage degeneration market include an aging population, an increase in obesity, the adoption of cutting-edge technologies for cartilage repair, supportive government initiatives, rising healthcare expenditures, and an increase in investments in healthcare research and development.

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Key providers of cartilage degeneration treatment are adopting strategies such as mergers, collaborations, and acquisitions to bolster their market presence on a global scale.

In January 2021, Stryker Corporation, a multinational medical technology organization, announced the acquisition of OrthoSensor Inc., a leading name in musculoskeletal care and sensor technology for total joint replacements. With this acquisition, Stryker has strengthened its orthopedics product portfolio.

Key Takeaways from Market Study

The global cartilage degeneration market is currently valued at US$ 12.1 billion.
From 2022 to 2027, demand for cartilage degeneration treatment is set to mature at a steady 5.7% CAGR.
By 2027, revenue from the cartilage degeneration market is expected to reach US$ 16 million.
In 2022, the United States cartilage degeneration market enjoys a valuation of US$ 3.4 billion.
Growing senescent population, rising obesity, increasing incidence of accidents, and rising number of sports injuries are prime factors that will drive cartilage degeneration market expansion.
High costs of joint surgeries and lack of reimbursement policies in most countries are expected to have a restraining effect on market growth potential.
The market in China is slated to progress at 6% CAGR and attain a valuation of US$ 2.8 billion by 2027-end.
Demand for joint replacement procedures is anticipated to rise at 6% CAGR and end up with a revenue of US$ 5.7 billion by 2027.

“Rising geriatric population across the world is expected to be essential to overall cartilage degeneration market development over the next five years,” says a Fact.MR analyst

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Key Segments in Cartilage Degeneration Industry Research (Mercado de degeneración del cartílago)

By Procedure:

Joint Replacements
Chondroplasty
Osteochondral Transplants
Microfracture
Meniscus Transplants
Cell-based Cartilage Resurfacing
Autologous Chondrocyte Implantation
Others

By Application:

Knees
Hips
Others

By Treatment Delivery Channel:

Hospitals
Academic & Research Institutes
Specialty Clinics
Ambulatory Surgical Centers
Others

By Region:

North America
Latin America
Europe
APAC
MEA

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Winning Strategy:

Key companies in the cartilage degeneration market are expected to focus on the research and development of novel products that repair cartilage damage caused by degeneration. Companies are expected to push for approvals of new therapies and treatments for cartilage repair and regeneration from regulatory bodies such as the FDA.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global cartilage degeneration market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.

The study divulges essential insights on the market on the basis of procedure (joint replacements, chondroplasty, osteochondral transplants, microfracture, meniscus transplants, cell-based cartilage resurfacing, autologous chondrocyte implantation, others), application (knees, hips, others), and treatment delivery channel (hospitals, academic & research institutes, specialty clinics, ambulatory surgical centers, others), across six major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).