The prime factor propelling the cartilage repair/regeneration market globally is the rising prevalence of the joints and bone disorders around the world. According to the Arthritis Foundation, in 2017, it was estimated that more than half of the Australians were found to have osteoarthritis in the age group of 25 to 64 years. About 10% of the Chinese population is suffering from degenerative joint disease. From 2000-2016, the incidence of knee osteoarthritis in China increased by 45%, according to the China Association of Health Promotion and Education.
Furthermore, sports injuries, accidents, growing geriatric and obese populace across the globe are the few other significant factors attributing the growth of the cartilage repair/regeneration market globally. Moreover, technological advancements and the development of innovative treatment approaches are also driving the growth of the market. Cartilage regeneration is presently encouraged through the use of novel medical devices and therapeutics such as platelet-rich plasma injection, allografts, marrow stimulation drills, and extracellular matrix implants.
Key Market Trends
Knee Holds a Significant Market Share in the Application Segment
According to the Arthritis Foundation (2017), approximately 14 million Americans had osteoarthritis of the knees that are severe enough to cause pain and inflammation, and more people are suffering from this condition with the increase in age. Since the knee's natural cushioning i.e. the cartilage diminishes, inflammation and pain increase and people start to face problems in basic movement as well.
Even though these types of disorders and other knee injuries are relatively common, yet it is important to get the actual therapy facts so that one can seek the proper treatment options for the concerned condition. Therefore, building knee cartilage has always been a major target for researchers, and now several upcoming methods for knee cartilage repair and regeneration are under research as well as a clinical study.
North America is Expected to Dominates the Cartilage Repair/Regeneration Market
The United States holds the most significant share of the cartilage repair/regeneration market in North America, due to the increasing incidence of bone and joint disorders, rising geriatric and obese population.
As per the data reported by the American Orthopedic Society for Sports Medicine (2017), about 3.5 million athletes are receiving medical treatment due to sports injuries every year in the US. Furthermore, increasing physician and patient awareness about newly introduced treatment procedures and technologies along with the substantial investments by the government for the technologies and therapies adopted for the Cartilage Repair/Regeneration is supporting the growth of the market in North America.
Market players in Global Cartilage Repair/Regeneration Market are focusing on the expansion of their product portfolios by adopting inorganic growth strategies such as acquisitions & mergers, partnerships. Along with that, R&D activities by the research institutes and market players are also seen. In June 2019, an international team of scientists, led by the University of Granada (UGR), has designed a new hydrogel using pioneering "polymer microarrays" technology, which successfully helps to regenerate cartilage.
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