Cartilage Regeneration Market Overview
The major function of cartilage is to connect bones together. It does by its elasticity to bend a bit, but at the same time resisting stretching. It is found in various parts of the body such as joints, the rib cage, nose, ear, and throat and in between the back-bones.
The amplest type of cartilage found in the human body is the hyaline cartilage, which is found as a form of supportive tissue in the ears, nose and in the throat (trachea, smaller respiratory tube, larynx). Cartilage tissue is essential because of the flexibility and stability of movement it provides.
The growth of the Global Cartilage Regeneration Market is driven by factors such as growing incidence of joint and bone disorders such as Osteoarthritis, which are a result of damage or wear and tear of connective tissues and the increasing aging population with related connective tissue ailments. Furthermore, rise in the obese population and rising frequency of sports injuries & road accidents are set to boost market growth in the future. However, unfavourable reimbursement policies and the high cost of therapy are the main restraints of market growth.
Cartilage Regeneration Market Forecast Report (2018-2023)
The Global Cartilage Regeneration Market worth was USD 549.71 million in 2018 and is projected to be growing at a CAGR of 14.2%, to touch USD 1067.74 million by 2023.
Browse Report Brief and TOC @ https://www.marketdataforecast.com/market-reports/global-cartilage-regeneration-market-2620/
Cartilage Regeneration Market Segmentation
The Global Cartilage Regeneration Market is classified on the basis of, Type of the Treatment, Application and Geography. Based on the Type of Treatment used, the Cartilage Regeneration market is classified into Cell Based Approaches and Non-Cell Based Approaches. The Cell based Approaches are further segmented into Chondrocyte Transplantation, Stem Cells and Growth Factor Technology. Non-cell based approach is further divided into Tissue Scaffolds and Cell-free composites. Based on Application, the Cartilage Regeneration Market is classified into Hyaline Cartilage Regeneration and Fibrocartilage Regeneration.
The market has been geographically classified into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. As of 2016, North America leads the market, accounting for the main global market share and expanding with the high CAGR. North America’s lead is warranted by the presence of higher number of registered patients and increasing use of cartilage repair or regeneration to treat sports injuries and other accidents. Europe comes in second in terms of market share owing to the rising awareness about blood related disorders and the fast availability of treatment in terms of plasma fractionation. However, Asia-Pacific is expected to catch up fast during the forecast period majorly because of the presence of higher population base, once the costs of cartilage regeneration come down with growth in R&D and technology.
Key Developments in the Market
- In February 2015, Bioelectronics announced B. Braun as the exclusive U.K. distributor of pain devices for hip and knee joint replacements, and spine surgery, and orthopedic trauma. This move by B. Braun promises to provide continued development of higher performance products, ranging from orthopedic implants to therapeutic solutions, offering high standard of care and positive outcomes.
- Market players are adopting the strategy of acquisitions and collaborations with the parallel companies to improve and strengthen their geographic presence in the global market.
Major players in the current market are:
- Zimmer Biomet Holdings, Inc. (U.S.)
- Vericel Corporation (U.S.)
- Smith & Nephew plc (U.K.)
- Osiris Therapeutics, Inc. (U.S.)
- Arthrex Inc. (U.S.).
Market Data Forecast is dedicate working in the areas of market research, business intelligence and consulting. We have a great experience in research and consulting for different business domains to cater the needs of both individual and corporate clients.
Company Name: Market Data Forecast
Contact Person: Abhishek Shukla
Email: Send Email
Address:2nd Floor, Lakeview Plaza, Kavuri Hills, flimnagar