The global knee cartilage repair market was valued at approximately US$ 4.0 Bn in 2017. It is projected to expand at a cumulative annual growth rate (CAGR) of 6% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Knee Cartilage Repair Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The report suggests that an increase in the number of bone and joint injuries, enhancement in technology, and rise in awareness about health care are expected to propel the knee cartilage repair market in the near future. Additionally, increase in concerns about sports injuries and arthritis-related diseases is anticipated to drive the global market.
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Rise in the number of orthopedic surgeries and usage of different implant materials for knee surgery are anticipated to fuel the global market
The global knee cartilage repair market is projected to be driven by the rise in number of orthopedic surgeries and utilization of different implant materials during knee surgery streamlines the day to day work flow for differently abled or arthritis patients. Knee cartilage repair devices such as implants provide several features and benefits, such as patient easy mobility, which can be practiced by surgeons and physicians for the differently abled patients. Key players offering knee cartilage repair are developing value added features, such as biological or synthetics material features. These features help reduce the overall operating costs and improve effectiveness and efficiency of physiotherapy practiced on the knees.
Arthroscopic chondroplasty is projected to be a highly lucrative procedure
Arthroscopic chondroplasty involves the 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. Meniscal tears are the most common reason for arthroscopic chondroplasty. 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. Technology-based knee cartilage repair are priced on a perpetual license model and are less expensive than other orthopedic surgeries.
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Cell-based cartilage resurfacing application of knee cartilage repair is expected to boost the market
The cell-based cartilage resurfacing segment is anticipated to expand at a higher CAGR during the forecast period. Factors attributed to the higher CAGR of the cell-based cartilage resurfacing segment include rise in the incidence of orthopedic surgeries, increase in the prevalence of damage articular cartilage and arthritis among the global population, and rise in demand for minimally invasive orthopedic surgeries from physicians and patients.
Hospitals segment dominates the market and is estimated to expand at a rapid CAGR during the forecast period
In terms of end-user, the hospitals segment accounted for a leading share of the global knee cartilage repair market. The market share held by the segment is estimated to increase by the end of 2026. The hospitals segment is anticipated to expand at a CAGR of more than 6% during the forecast period. Rise in the availability of specialized pain management services, increase in the footfall of orthopedic patients in hospitals, and adoption of digital platforms for the marketing of the pain management practices have led to the prominent share held by the hospitals segment in the global knee cartilage repair market.
Asia Pacific offers considerable business development opportunity
North America and Europe accounted for a key share of the global knee cartilage repair market in 2017. They are likely to gain market share by the end of 2026. High rate of adoption of digital platforms for pain management, high spending on health care facility, and government initiatives to promote minimal invasive surgery techniques have contributed to the leading share held by these regions in the global knee cartilage repair market. Asia Pacific is projected to be a highly attractive market for knee cartilage repair, and the region is likely to exhibit a high attractiveness index.
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Key Trend of research and development among leading players to increase geographic presence
The report also provides profiles of leading players operating in global knee cartilage repair market. DePuy Synthes, Zimmer Biomet, Stryker Corporation, Smith & Nephew plc, and B. Braun Melsungen AG are some leading players operating in the global knee cartilage repair market. They account for a significant share of the global market. Companies operating in the knee cartilage repair industry are aiming to increase their geographic presence by means of strategic acquisitions and collaborations with leading players in their respective domains and geographies. In October 2014, Zimmer Biomet Holdings, Inc. acquired the business of Massachusetts-based ETEX Holdings, Inc., which offers bone void filler technologies for early stages of joint disease.
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