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Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
PORTLAND, OREGON, UNITED STATES, September 8, 2022 /EINPresswire.com / -- According to a new report published by Allied market Research, titled, 'Cartilage Repair Market by Modality, Type, Application, and End User: Global Opportunity Analysis and industry Forecast, 2018-2025, the global market was valued at $713 million in 2017, and is projected to reach $2,195 million by 2025, growing at a CAGR of 15.0% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.
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Cartilage repair is a process that encompasses treatment of the damaged cartilage through different modalities such as chondroplasty, autologous chondrocyte implantation, osteochondral allograft, and juvenile allograft fragments to restore normal functions of the connective tissue.
The cartilage repair market is expected to grow significantly in the near future, driven by various factors such as obesity and sedentary lifestyle among people, increasing the elderly population and the rise of arthritis worldwide. However, high cost associated with the cartilage repair process and unclear regulatory environment are major factors expected to restrain the market growth. On the contrary, emerging markets such as India and China are expected to provide growth opportunities for market participants during the forecast period.
By trend, chondroplasty and microfracture accounted for more than a quarter of the global cartilage repair market in 2017. In terms of applications, the knee segment accounted for almost half of the market in 2017 and is expected to show significant growth, due to the high increase in the prevalence of knee arthritis in 'all over the world. .
Among the end users, hospitals and clinics generate the highest income in 2017, due to various factors such as finding different treatment options (chondroplasty, osteochondral autograft transplantation and others) under one housing, palliative care and diagnosis. By region, North America was the largest contributor to the global market in 2017.
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Major Key Players -
The report provides an extensive competitive analysis and profiles of the key market players such as Arthrex, Inc., B. Braun Melsungen AG, Conmed Corporation, Johnson & Johnson, Osiris Therapeutics, Inc., RTI Surgical, Inc., Smith & Nephew PLC, Stryker Corporation, Vericel Corporation, and Zimmer Biomet Holdings, Inc. The other players in the value chain (not included in the report) include Anika Therapeutics, Inc., Collagen Solutions LLP, and Histogenics Corporation.
North America was the leading revenue contributor to the global market in 2017, owing to high adoption rate of cartilage repair products. However, Asia-Pacific is expected to grow at the highest CAGR of 16.5% from 2018 to 2025, due to increase in disposable income; surge in research, development, & innovation activities; and rise in awareness towards cartilage repair products.
Table of Content:
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.3.1. List of key players profiled in the report
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.1.1. CXO perspective
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The growth of the cartilage repair market is propelled by upsurge in geriatric population, increase in prevalence of obesity, and rise of sedentary lifestyle in the populace. Furthermore, increase in awareness about cartilage repair products and surge in sports-related injuries are anticipated to boost the market growth in the forecast period.
The use of cartilage repair modalities is highest in North America, owing to availability of cartilage repair products, increased arthritis awareness, and rise in expenditure by the government on healthcare, followed by Europe and Asia-Pacific. In addition, orthopedic and medical device manufacturing companies have focused on expanding their presence in the emerging economies, which is anticipated to drive the market growth.
Key Findings of the Cartilage Repair Market -
Hyaline cartilage occupied nearly two-thirds share of in the cartilage repair market in 2017.
Knee application is anticipated to grow with the highest CAGR throughout the forecast period.
North America accounted for more than one-third share of the global cartilage repair market in 2017.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Analytics LLP
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