Global Knee Cartilage Repair Market is Set to Reach US$ 5 Billion By 2027

The global knee cartilage repair market is predicted to evolve at a CAGR of 5% from 2022 to 2027. In 2022, the market stands at a valuation of US$ 3.92 billion and is expected to reach US$ 5 billion by the end of 2027.

The U.S., China, and Canada are expected to be highly lucrative markets for knee cartilage repair over the next five years.

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"Growing Awareness among Patients about Advanced Processes for Knee Cartilage Repair"
The China market is anticipated to rise at a CAGR of 7.7% from 2022 to 2027. Increasing investments by the government in knee cartilage repair treatments and growing concern among people regarding advanced technologies and processes for knee cartilage repair are expanding the knee regeneration industry size in China.
The market expansion in China was ascribed to the increased interest in sports among children and young people, the rising accident rate, and the growing focus on enhancing the healthcare system.

Key Takeaways from Market Study
• The global cartilage degeneration market is currently valued at US$ 12.1 billion.
• From 2022 to 2027, demand for cartilage degeneration treatment is set to mature at a steady 5.7% CAGR.
• By 2027, revenue from the cartilage degeneration market is expected to reach US$ 16 million.
• In 2022, the United States cartilage degeneration market enjoys a valuation of US$ 3.4 billion.
• Growing senescent population, rising obesity, increasing incidence of accidents, and rising number of sports injuries are prime factors that will drive cartilage degeneration market expansion.
• High costs of joint surgeries and lack of reimbursement policies in most countries are expected to have a restraining effect on market growth potential.
• The market in China is slated to progress at 6% CAGR and attain a valuation of US$ 2.8 billion by 2027-end.
• Demand for joint replacement procedures is anticipated to rise at 6% CAGR and end up with a revenue of US$ 5.7 billion by 2027.

Competitive Landscape:
Key companies in the cartilage repair and regeneration market are introducing new products and services. They are engaging in tactical actions including agreements, and partnerships to secure a commanding position in the market.
For instance :
• Patients with a variety of changes in the knee and symptomatic full-thickness patella cartilage anomalies are now covered by Vericel Corporation's medical insurance coverage for MACI through UnitedHealthcare.

Key Segments in Cartilage Degeneration Industry Research
• By Procedure:
o Joint Replacements
o Chondroplasty
o Osteochondral Transplants
o Microfracture
o Meniscus Transplants
o Cell-based Cartilage Resurfacing
o Autologous Chondrocyte Implantation
o Others
• By Application:
o Knees
o Hips
o Others
• By Treatment Delivery Channel:
o Hospitals
o Academic & Research Institutes
o Specialty Clinics
o Ambulatory Surgical Centers
o Others
• By Region:
o North America
o Latin America
o Europe
o APAC
o MEA

Winning Strategy
Key companies in the cartilage degeneration market are expected to focus on the research and development of novel products that repair cartilage damage caused by degeneration. Companies are expected to push for approvals of new therapies and treatments for cartilage repair and regeneration from regulatory bodies such as the FDA.

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This release was published on openPR.