Knee Cartilage Repair Market is expected to be valued at US$2,751.8 mn by 2023

Global Knee Cartilage Repair Market: Analyst’s Assessment

Soon, geriatrics will constitute for a prominent chunk of the World’s population, and the healthcare industry stands to gain strong impetus from it as people aged over 65 years are highly prone to various disorders. One of the most common disorders among geriatrics is damage to the knee cartilage or the reduction of lubricants over a period of time.

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Thankfully, technological advancements have led to therapeutic repairs that can ideally regenerate or replace cartilage and the market for the same is flourishing. According to this business intelligence study, the demand in the global knee cartilage repair market will expand at a formidable CAGR of 5.95 during the forecast period of 2017 to 2023. In terms of revenue, there will be opportunities worth US$2,751.8 mn in the knee cartilage repair market across the world by the end of 2023, substantially more than its evaluated valuation of US$1,945.9 mn in 2017.

Apart from the increasing percentage of geriatrics, knee cartilage repair market is gaining traction from growing obesity concerns across the globe. Obese individuals are highly likely to cause damage to their knees over a period of about two decades, which eventually leads to the loss of cartilage in the joints. Additionally, arthritis remains a ubiquitous disease and healthcare infrastructure is improving in several emerging economies.

All these factors are expected to driver the demand for knee cartilage repair during a foreseeable future. On the other hand, lack of awareness regarding the availability of innovative therapies and considerable cost of the repair are moderate restraints over the prosperity of this market. That being said, government initiatives and subsidies to promote the advanced methods is expected to overcome the challenges and open new opportunities in the market for knee cartilage repair market.

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Arthroscopic Chondroplasty Leading Procedure Segment

On the basis of procedure type, the knee cartilage repair market has been segmented into autologous chondrocyte, osteochondral grafts transplantation, microfracture, arthroscopic chondroplasty, implant, cell-based cartilage, and others. Among these, arthroscopic chondroplasty, microfracture, and implant are the three segments that have been showing greatest promise. Arthroscopic chondroplasty involves repair of a small area of damaged cartilage in the knee.

During this procedure, the damaged tissue is removed, allowing healthy cartilage to grow in its place. The damage caused through meniscal tears is trimmed and smoothened down through chondroplasty. Faster recovery time of arthroscopic chondroplasty as compared to other traditional methods of open knee surgeries is likely to drive the segment during the forecast period. By 2023, the arthroscopic chondroplasty segment is projected to generate a demand worth of US$774.7 mn. On the other hand, the microfracture segment is estimated to be worth US$729.2 mn by 2023.

North America to Provide for a Demand worth of US$1,158.5 mn by 2023

Geographically, the global knee cartilage repair market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East & North Africa, and Rest of the World. As of 2017, North America accounted for the largest share of 41.1% of the overall knee cartilage repair market, followed by Europe at about 28%. North America and Europe are expected to retain their leadership positions through 2023, promising to collectively generate a demand worth of US$1,898.8 mn.

Increase in orthopedic procedures in the developed country of the U.S., rise in incidence of obesity, and introduction of technologically advanced products are some of the factors augmenting the demand in the North America knee cartilage repair market. Asia Pacific is the third most lucrative region and owing to its vast population and improve healthcare infrastructure, the demand is projected to expand at an above-average CAGR of 6.6% during the forecast period of 2017 to 2023.

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This report contains a featured and descriptive chapter on the competitive landscape of the global knee cartilage repair market, profiling a number of prominent players. Some of the key players of this market are B. Braun Melsungen AG, DePuy Synthes, Zimmer Biomet Holdings, Inc., MEDIPOST Co. Ltd., Histogenics Corporation, Smith & Nephew plc, and Stryker Corporation.

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This release was published on openPR.