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The Global Cartilage Repair Market to Propel at CAGR of 15.56% by 2028

08-24-2022 08:23 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Triton Market Research

Cartilage Repair Market

Cartilage Repair Market

Triton Market Research presents the Global Cartilage Repair Market segmented by Modality (Juvenile Allograft Fragment, Osteochondral Allograft, Autologous Chondrocyte Implantation, Microfracture & Chondroplasty), Application (Knee, Other Applications), End-user (Ambulatory Surgical Center, Hospital & Clinic, Other End-users), Product (Non-Cell-Based, Cell-Based), Type (Fibrocartilage, Hyaline Cartilage), and by Geography (Asia-Pacific, Middle East and Africa, Latin America, Europe, North America). The market report further discusses the Market Summary, Industry Outlook, Key Insights, Impact of COVID-19, Porter's Five Forces Model, Market Attractiveness Matrix, Vendor Scorecard, Key Market Strategies, Drivers, Restraints, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton's research report suggests that the global market for cartilage repair is estimated to advance at a CAGR of 15.56% during the evaluated years of 2021-2028.

Cartilage repair refers to a cartilage restoration method in which the injured cartilage is replaced by extracellular matrix and newly developed cells.

The developing nations are offering lucrative opportunities for cartilage repair manufacturers to extend their business operations. Here, the life science industry's continual development is primarily driving the market's growth in countries, such as India, China, and others. Moreover, advancements in the healthcare sector are expected to increase the demand for cartilage repair products. However, the high cost of cartilage repair surgery and the lack of favorable regulations for the use of cartilage repair products are restricting the progression of the cartilage repair market.

North America holds the largest market for cartilage repair market, and is likely to continue its hold over the market till 2028. Canada's market is estimated to surge as a result of various factors, including growth in osteoarthritis among the population, increase in geriatric population, and rise in R&D investments. Additionally, it is anticipated that a large number of geriatric people will reside in nursing homes by 2030. This growth in the geriatric population amplifies the risk of several conditions, augmenting the need for better cartilage repair treatments. Therefore, these factors are probable to widen the scope of the cartilage repair market in the region.

Numerous prominent companies present in the market include RTI Surgical, Smith & Nephew Plc, B Braun Melsungen AG, Medtronic Plc, Vericel Corporation, Integra Lifesciences Corporation, Cryolife Inc, Arthrex Inc, Zimmer Biomet Holdings Inc, Osiris Therapeutics Inc, Organogenesis Inc, Johnson & Johnson, Stryker Corporation, and Conmed Corporation.

The cartilage repair market has encouraged the entry of new players due to the high growth opportunity and growing investments from government and private companies. However, as top companies have patents for the current products, the new entrants will have to pay a royalty to use them, which will add to the final product's cost. This indicates that the threat of new entrants is likely to be moderate over the estimated period. Furthermore, the competition among the existing market players is growing, owing to product differentiation in terms of quality, application, and cost. This denotes that the threat of competition among the current market players is expected to be at a higher level.

Triton Market Research
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We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

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