What are the Global Growth Factors?
Major factors driving the growth in Cartilage Regeneration Market are Increase in obese population and rising incidence of sports injuries. However, high cost of therapy and unfavorable reimbursement scenario are the major factors that are restraining the growth of the market.
What The Experts Says about the Market Growth?
The cartilage regeneration market is projected to reach $779.8 Million by 2021, growing at a CAGR of 13.5%
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On the basis of treatment modalities, the market is segmented into cell based approaches and non-cell based approaches. Cell based approaches are further segmented into chondrocyte transplantation, growth factor technology, and stem cells. Non-cell based approaches are segmented into tissue scaffolds and cell-free composites. The cell based approaches segment is expected to account for the largest market share in 2016.
This treatment modality segment is also expected to be the fastest growing segment in the cartilage repair/ cartilage regeneration market. The large share and high growth of this segment can be attributed to long-term results of these therapies in terms of cartilage repair which makes it most preferred therapy. The chondrocyte transplantation approach hold largest share of cell-based treatment segment owing to its long-term results.
Geographical Analysis:
North America is expected to be the fastest-growing regional segment in the cartilage repair/ cartilage regeneration market. North America is also expected to account for largest share in the cartilage repair/ cartilage regeneration market, by region in 2016. The high growth and largest share of this segment can primarily be attributed to the expansion of the cartilage repair/ cartilage regeneration market in this region due to presence of major players in this market and wide availability of cartilage repair products.
Key Market Players:
The major players operating in the cartilage repair/ cartilage regeneration market include Zimmer Biomet Holdings, Inc. (U.S.), Vericel Corporation (U.S.), Smith & Nephew plc (U.K.), Osiris Therapeutics, Inc. (U.S.), and Arthrex Inc. (U.S.).
Cartilage Regeneration Market by Treatment modalities (Chondrocyte Transplantation, Growth Factor Technology, Tissue Scaffolds, Cell-free composites), Application (Hyaline Cartilage, Fibrocartilage), Region – Forecast to 2021
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