The global Cartilage Repair/Cartilage Regeneration Market is projected to reach USD 2.8 billion by 2028 from USD 1.3 billion in 2023, at a CAGR of 17.2%
Cartilage Repair / Cartilage Regeneration Market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 17.2% from 2023 to 2028 according to a new report by MarketsandMarkets. Growth in the Cartilage Repair/Cartilage Regeneration market is mainly driven by the increasing prevalence of sports and accident-related orthopedic injuries and the increasing number of osteoarthritis cases expected to offer growth opportunities for players operating in the Cartilage Repair/Cartilage Regeneration market during the forecast period. However, the High cost of cartilage repair surgeries and Unfavorable reimbursement scenarios are restricting the growth of this market.
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Key Market Players of Cartilage Repair / Cartilage Regeneration Industry:
The Key players in the Cartilage Repair/Cartilage Regeneration market are Smith+Nephew (UK), DePuy Synthes (Johnson & Johnson) (US), Zimmer Biomet Holdings, Inc. (US), Stryker Corporation (US), Vericel Corporation (US), B. Braun Melsungen AG (US), Anika Therapeutics (US), CONMED Corporation (US), MEDIPOST (South Korea), RTI Surgical (US), Arthrex, Inc. (US), Regrow Biosciences (India), Geistlich Pharma AG (Switzerland), AlloSource (US), Orthocell Ltd, (Australia), Matricel GmbH (Germany), CartiHeal, Inc. (Israel), Regentis Biomaterials (Israel), Theracell Advanced Biotechnology (Greece), and LifeNet Health (US).
By treatment modality the Cartilage Repair/Cartilage Regeneration market is divided into Cell-based and non-cell-based categories where cell-based segment includes chondrocyte transplantation, stem cells and growth factors. The non-cell-based which are the scaffolds and cell-free composites. Cell-based including chondrocyte transplantation, growth factors, and stem cells will drive the growth of the market due to the increasing number of osteoarthritis cases.
By Application, the global Cartilage Repair/Cartilage Regeneration market is broadly segmented into hyaline cartilage and fibrocartilage. Hyaline cartilage is expected to grow highest in the upcoming years. The increasing number of hospitals and advancement in cartilage repair products will drive the growth of this application segment. Technological advancements, product developments and launches, and growing partnerships between key market players and hospitals are also supporting market growth.
By application site, the global Cartilage Repair/Cartilage Regeneration market is broadly segmented into knee, hip, ankle & foot, and other application sites (nose and shoulder). The knee is expected to grow highest in the upcoming years. The increasing number of Knee replacement procedures performed worldwide is the major factor driving the growth of this application site segment. For Instance, according to the American Orthopedic Society for Sports Medicine, over 4 million knee arthroscopy procedures are performed worldwide each year; 700,000 are conducted in the US.
Based on the region, the Cartilage Repair/Cartilage Regeneration market is segmented into North America, Europe, Asia Pacific and Rest of the world. The North American market is driven by the growing focus on growing government and private investments. For instance, In March 2020, the Government of Canada granted USD 6.9 million through the Stem Cell Network’s competitive research funding, a body that supports Canada’s most promising stem cell research. This funding is channelized to support nine translational projects and four clinical trials across Canada’s regenerative medicine market, which comprises 200 researchers and trainees at 27 Canadian research institutes in Alberta, British Columbia, Quebec, and Ontario, as well as direct partnerships with several emerging biotechnology companies.
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