Global Cartilage Repair/Regeneration Market Will Reach USD 6.5 Billion By 2024: Zion Market Research
New York, NY, Aug. 20, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Cartilage Repair/Regeneration Market by Treatment Modality (Cell-Based and Non-Cell Based), by Treatment (Cartilage Replacement and Cartilage Repair), by Type (Fibro Cartilage, Hyaline Cartilage, and Elastic Cartilage), and by End-Use (Ambulatory Surgical Centers, Hospitals & Clinics, Surgical Centers, and Others): Global Industry Perspective, Comprehensive Analysis & Forecast, 2017 – 2024”. According to the report, global cartilage repair/regeneration market was valued at approximately USD 4.3 billion in 2017 and is expected to generate revenue of around USD 6.5 billion by end of 2024, growing at a CAGR of around 5.8% between 2018 and 2024.
The primary factor driving the global cartilage repair/regeneration market is the growing prevalence of joints & bones disorders all across the globe. Increasing obese and geriatric population base all across the globe are the prominent factors driving the cartilage repair/regeneration market. According to the World Health Organization, by 2050 the number of people of age 60 or above will get doubled and is estimated to reach a value of 2.1 billion globally, from 962 million in 2017 globally.
Browse through 71 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Cartilage Repair/Regeneration Market Size, Share, Trends and Forecast, 2017 – 2024”.
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According to the NIH (National Institute of Health), one-third of the adults in America aged above 45, generally suffer from cartilage damage issue. However, the high cost of treatment is acting as a hurdle for the cartilage repair/regeneration market and may affect its growth in the long term. Nonetheless, a significant investment by the government for the development of the process & therapies used for the treatment of cartilage damage along with the growing awareness are likely to disclose the new avenues for the market.
The cartilage repair/regeneration market is divided by treatment modality, type, treatment, and end-use.
Based on treatment modality, the cartilage repair/regeneration market has been segmented into cell-based and non-cell based. The cell-based segment is sub-segmented into growth factor technology, chondrocyte transplantation, and stem cells and the non-cell based segment is sub-segmented into cell-free composites, tissue scaffolds, and stem cells. By treatment modality, the cell-based treatment is estimated to hold the largest market value share attributed to the fact of long-term & effective results.
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On the basis of treatment, cartilage repair/regeneration market has been segmented into cartilage replacement and cartilage repair. The cartilage replacement segment is sub-segmented into autologous chondrocyte implantation and osteochondral transplant and the cartilage repair segment is sub-segmented into cell-based cartilage resurfacing, microfracture, and non-surgical treatment.
By type segment, the cartilage repair/regeneration market is categorized into fibrocartilage, hyaline cartilage, and elastic cartilage.
Based on end use, the cartilage repair/regeneration market is classified into ambulatory surgical centers, surgical centers, hospital & clinics, and others. Hospital & clinics segment holds the maximum share and is expected to boost the market over the forecast period.
Browse the full “Cartilage Repair/Regeneration Market by Treatment Modality (Cell-Based and Non-Cell Based), by Treatment (Cartilage Replacement and Cartilage Repair), by Type (Fibro Cartilage, Hyaline Cartilage, and Elastic Cartilage), and by End-Use (Ambulatory Surgical Centers, Hospitals & Clinics, Surgical Centers, and Others): Global Industry Perspective, Comprehensive Analysis & Forecast, 2017 – 2024 “ report at https://www.zionmarketresearch.com/report/cartilage-repair-cartilage-regeneration-market
In the cartilage repair/regeneration market, North America is anticipated to cover the prominent market value share over the estimated time. The U.S. is by far the leading cartilage repair/regeneration market by country in North America. The U.S. market is anticipated to grow with significant CAGR over the near future. Increasing number of cases of cartilage damage due to the active involvement in sports along with the significant investments by the government for the in therapies & procedures adopted for the treatment is supporting the growth of cartilage repair/regeneration market in North America. According to research data by the American Orthopedic Society for Sports Medicine, over 3.5 million athletes receive medical treatment due to sports injuries each year.
North America is anticipated to be followed by Europe and is expected to show a significant growth in the near future. This growth of cartilage repair/regeneration market is mainly supported by high per capita income which allows the population base to afford costly treatments of cartilage damage in this region.
