The new report by Expert Market Research titled, ‘Global Knee Cartilage Repair Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global knee cartilage repair market, assessing the market based on its segments like treatment modalities, treatment types, end users, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8%
The rising cases of knee problems, increasing geriatric population, increasing prevalence of degenerative osteoarthritis among the young population, and increasing health awareness are some of the major driving factors in the market. In addition to this, the increasing inclination towards sporting activities and adventure is anticipated to increase the susceptibility of knee problems. This factor will boost the market growth in the future.
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Moreover, the rapid development of hospitals, nursing homes, and ambulatory surgical centers, among others is likely to aid the market in the forecast period. Geographically, North America accounts for a significant share in the market owing to the increased healthcare expenditure in the United States and Canada.
Industry Definition and Major Segments
Knee cartilage repair is defined as a treatment which is aimed towards restoring the movement of knees. This treatment is performed on those suffering from knee damage or injury. This procedure involves two operations, first one is the arthroscopic removal of cartilage cells from areas of the knee joint. The second operation involves the incision made to expose the defective cartilage.
By treatment modality, the market can be bifurcated into:
- Non-Cell Based
Based on treatment type, the market is segmented into:
- Intrinsic Repair Stimulus
On the basis of end user, the market can be classified into:
- Ambulatory Surgical Centers
- Orthopaedic Clinics
The regional markets for knee cartilage repair include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The increasing inclination towards minimally invasive surgical procedures is likely to be a key trend in the market. In addition to this, the emergence of modern treatment solutions in the healthcare industry, which include the use of artificial intelligence and modern medical equipment, is anticipated to be a major aiding factor in the market.
Furthermore, the rapid emergence of modern cartilage regeneration techniques such as autologous chondrocyte implantation (ACI), matrix-associated autologous chondrocyte implantation (MACI), and autologous matrix-induced chondrogenesis (AMIC) is likely to boost the market growth in the forecast period.
Key Market Players
The major players in the market are Stryker Corporation, Smith & Nephew plc, Vericel Corporation, B. Braun Melsungen AG, and Arthrex, Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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