Cartilage Repair Market - Global Industry Analysis, Size, Growth and Demand, 2023
The global cartilage repair market is witnessing considerable growth due to increasing geriatric population, increasing obesity, increasing healthcare expenditure, and growing sports related injuries. Moreover, increase in innovative product launches and growth of medical tourism leading to awareness about the cartilage treatment modalities across the globe is supporting the growth of the market. Based on the treatment modalities, cell-based approaches segment is expected to grow at the fastest rate during the forecast period, due to long term results of this treatment.
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The rapid growth in emerging economies and technological advancement in cartilage repair and regeneration products is expected to create opportunities for the manufacturers of cartilage repair products across the globe. However, the high cost of these products and lack of reimbursement for these treatments are the key factors hampering the growth of the global market.
Obesity is a serious health concern in the U.S. The increasing prevalence of obesity is driving the growth of the cartilage repair market in the U.S. According to CDC, during 2011-2012, 35.1% of adult aged 20 years or above were obese. In addition, as published by the Organization for Economic Cooperation and Development (OECD) in the year 2014, the obesity rate in Germany increased from 11.5% in 1999 to 14.7% in 2009. This increase in obesity rate leads to increase in demand for liposuction procedures, which is further accelerating the market growth.
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The key players operating in the global cartilage repair market are Zimmer Biomet Holdings, Inc., Johnson & Johnson, Vericel Corporation, Smith & Nephew PLC, Osiris Therapeutics, Inc., RTI Surgical, Conmed Linvatec, B. Braun Melsungen AG, Anika Therapeutics S. R. L. and Arthrex, Inc.
