Cartilage Repair Market Key Players, Market Analysis, Share,

Cartilage Repair Market

The Business Research Company recently released a comprehensive report on the Global Cartilage Repair Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company’s, the cartilage repair market size has grown rapidly in recent years. It will grow from $1.24 billion in 2023 to $1.42 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to increasing incidence of joint disorders, growing awareness and diagnosis rates, rising healthcare expenditure, collaborations and partnerships..

The cartilage repair market size is expected to see rapid growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to growing aging population, rising sports injuries, regulatory support for advanced therapies, increasing patient preference for non-invasive treatments.. Major trends in the forecast period include technological advancements, regulatory approvals and standardization, patient preference for biologics, healthcare infrastructure development..

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Market Drivers and Trends:

The surge in road accidents and sports-related injuries is expected to propel the growth of the cartilage repair market going forward. Road accidents involve vehicles, pedestrians, or cyclists on public roadways or streets. In contrast, sports-related injuries refer to injuries that occur during participation in various sports and physical activities. A surge in road accidents and sports-related injuries significantly contributes to the need for cartilage repair procedures to restore damaged cartilage, alleviate pain, and improve joint function caused by road and sports-related injuries. For instance, in May 2023, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, the number of road crashes in the United States increased from 35,935 in 2020 to 39,508 in 2021. Further, the number of fatalities also increased from 39,007 in 2020 to 42,939 in 2021. Furthermore, in August 2021, according to Cary Orthopaedica, a US-based health organization, more than 3.5 million children and teenagers in the United States suffer from sports-related injuries each year. Therefore, the surge in road accidents and sports-related injuries is driving the growth of the cartilage repair market.

Major companies operating in the cartilage repair market are developing innovative products, such as Chondro-Gide, to help protect the injured cartilage, promote healing, and get approvals for cartilage treatments. Chondro-Gide, or articular cartilage cover, is a bilayer collagen membrane used in a one-step cartilage repair technique. For instance, in February 2021, Geistlich Pharma AG, a Switzerland-based medical device company, received breakthrough device designation (BDD) for the Chondro-Gide articular cartilage cover from the U.S. Food and Drug Administration. Chondro-Gide Articular Cartilage Cover is a highly purified collagen membrane that leverages the body’s healing potential and treats cartilage defects in the knee. It is used in the Autologous Matrix-Induced Chondrogenesis (AMIC) technique, where it covers the defect and offers a protective environment for cell differentiation and the formation of new cartilage.

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Major Key Players of the Market:

Johnson and Johnson Services Inc., Medtronic plc, Stryker Corporation , B. Braun Melsungen AG , Zimmer Biomet Holdings Inc., Smith And Nephew plc, Arthrex Inc. , CONMED Corporation Inc., Meril Life Sciences Pvt. Ltd., Medacta International SA, RTI Surgical Inc., Japan MDM Inc., Vericel Corporation, Anika Therapeutics Inc., Mathys AG Bettlach, JRI Orthopaedics Ltd., Auxein Medical ltd., MEDIPOST Co Ltd., DePuy Synthes Companies, Arthro Kinetics AG, Waldemar Link GmbH and Co.KG, Osiris Therapeutics Inc., Teijin Nakashima Medical Co Ltd., Collagen Solutions LLP, BioTissue SA, ISTO Technologies Inc., Regentis Biomaterials Ltd., Histogenics Corporation, Evolutis India Pvt. Ltd.

Cartilage Repair Market 2024 Key Insights:

• The cartilage repair market is expected to grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.

• Rising Incidence Of Road Accidents And Sports-Related Injuries Fueling Cartilage Repair Market Growth

• Innovative Breakthroughs In Cartilage Repair

• North America was the largest region in the cartilage repair market in 2023

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