Cartilage Repair Market Size to grow by USD 1245.17 million between 2024-2028

The Cartilage Repair Market is segmented by Product (Cell-based and Non-cell based), End-user (Hospitals and clinics, ASCs, and Physicians office), and Geography (North America, Europe, Asia, and Rest of World (ROW)). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 1245.17 million, at a CAGR of 16.79% during the forecast period. There are several companies that are contributing to the market as per this report. Public and private sector funding for clinical trials of cartilage repair .

By Product, the Cell-based segment is projected to dominate the market size in 2024

In the realm of cartilage repair, cell-based therapies represent a promising avenue for addressing defects and osteochondral abnormalities. Autologous cell therapy, specifically bone cartilage cell therapy, offers a long-term solution for treating cartilage damage and associated knee pain. Chondrocytes and mesenchymal stromal cells, sourced from bone marrow, adipose tissue, or the umbilical cord, serve as the primary agents for cartilage regeneration and restoration within this context. These advanced techniques, often complemented by scaffolds and biological signals, expand the horizons for cartilage tissue engineering and represent significant opportunities within the cartilage repair market.

For insights on company offerings- Request a sample report!

By End-user, Hospitals and clinics segment is expected to hold the largest market size for the year 2024

The hospitals and clinics sector holds the largest and most dynamic position in the global cartilage repair market due to the rising prevalence of obesity and an aging population. Aging is a significant factor contributing to cartilage damage. Consequently, the demand for cartilage repair therapies is projected to surge, given the increasing incidence of orthopedic disorders. In the US alone, there were approximately 22,965 orthopedic surgeons as of February 2022, and over 790,000 knee replacements were performed annually, according to the Agency for Healthcare Research and Quality. This trend is expected to persist, driving market expansion throughout the forecast period.

Why is North America forecasted to hold the largest regional market size in 2024?

The North American cartilage repair market experiences significant growth, with the United States and Canada being the primary contributors to revenue. Factors such as enhanced healthcare infrastructure, a rising number of orthopedic procedures, and the increasing prevalence of obesity and its associated risks are key drivers in the region. Additionally, the surge in cartilage repair surgeries, facilitated by the expansion of hospitals and Ambulatory Surgery Centers (ASCs), further bolsters market expansion. Furthermore, the increasing incidence of Osteoarthritis, favorable reimbursement for cartilage repair procedures, and initiatives by governments and non-profit organizations to raise awareness about cartilage damage and its consequences are significant market growth catalysts in North America.

To access the valuable insights - Download the Free Sample Report

Research Analysis Overview

The Cartilage Repair Market is experiencing significant growth due to the increasing demand for advanced solutions in the construction industry. Compliance with administrative agencies at state and local levels is a crucial factor driving this market. Permanent modular construction, which involves building standardized modules off-site and assembling them on-site, is gaining popularity due to its benefits such as energy efficiency, material waste reduction, and improved quality control. This construction method is being adopted in various sectors including hotels, single-family homes, construction site offices, airports, residential, educational facilities, and commercial buildings. The use of Building Information Modeling and Computer-Aided Design in modular construction further enhances project completion times and ensures factory conditions are maintained, ensuring consistency and durability. However, natural disasters such as wildfires, earthquakes, hurricanes, and floods pose a challenge to the construction industry. Permanent modular construction offers a solution by providing structures that can withstand these disasters, making it an attractive option for urban areas. The market for cartilage repair in the construction industry is expected to continue growing as the demand for sustainable, efficient, and disaster-resilient buildings increases.

Market Research Overview

According to Technavio, the global cartilage repair market is a segment of the expansive global pharmaceuticals industry, encompassing entities involved in the research and development (R&D) or manufacturing of various pharmaceutical offerings, including generic and non-generic drugs, as well as veterinary medicines. The global healthcare industry, which includes the pharmaceuticals market, is estimated based on the consolidated revenue generated by providers of healthcare equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The growth of the global pharmaceuticals market is anticipated to be fueled by several key factors, including the increasing aging population, with the number of individuals over the age of 60 projected to rise significantly. - The Cartilage Repair Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/