CHICAGO, Oct. 9, 2020
CHICAGO, Oct. 9, 2020 /PRNewswire/ -- According to the new market research report "Cartilage Repair/ Cartilage Regeneration Market by Treatment modalities (Cell based Type (Chondrocyte Transplantation, Growth Factor), Non-Cell (Tissue Scaffolds)), Application (Hyaline), End User (ASCs, Clinic), Site (Knee) - Global Forecast to 2025", published by MarketsandMarkets™, the Cartilage Repair/ Cartilage Regeneration Market is projected to reach USD 1,603 million by 2025 from USD 787 million in 2020, at a CAGR of 15.3% during the forecast period.
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The growth of this market is primarily driven by the increasing incidence of osteoarthritis and increasing funding and investments for research in this field.
The cell-based segment accounted for the largest share of the treatment modality segment in the market in 2019.
Based on the treatment modality, the cartilage repair market is segmented into cell-based and non-cell-based approaches. The non-cell-based segment is divided into tissue scaffolds and cell-free composites. In 2019, the cell-based segment accounted for the largest share of the cartilage regeneration market. The large share of this segment can be attributed to technological advancements in stem cell-based therapies for cartilage repair and chondrocyte implantation products
The hospitals segment accounted for the largest share of the end user segment in the cartilage repair market in 2019.
Based on end users, the cartilage regeneration market is segmented into hospitals and ambulatory surgery centers (ASCs) and clinics. The hospitals segment accounted for the largest share of the market in 2019. This can be attributed to the large number of minimally invasive surgeries performed in hospitals and the growing number of hospitals in emerging economies.
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The Asia Pacific region is the fastest growing region of the cartilage repair and regeneration market in 2019.
The Asia Pacific region is estimated to grow at the highest CAGR in the cartilage repair market during the forecast period, this is mainly due to the rising geriatric population and the subsequent increase in the incidence of various disorders and injuries. Recent developments in tissue engineering and stem cell therapy will further fuel market growth.
Prominent players in the cartilage regeneration market are Smith & Nephew plc (UK), DePuy Synthes (US), Zimmer Biomet (US), CONMED Corporation (US), Stryker Corporation (US), and Vericel Corporation (US).
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