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I AgreeAnalysis of Cartilage Degeneration Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global cartilage degeneration market is valued at US$ 12.1 billion in 2022 and is estimated to generate US$ 16 billion in revenue by the end of 2027, and expanding at a CAGR of 5.7% over the next five years.
An increasing number of joint replacement surgeries across the world is expected to drive demand for joint replacements at a CAGR of 6%, which is the highest among all procedures.
Report Attributes |
Details |
---|---|
Cartilage Degeneration Market Size (2022) |
US$ 12.1 Billion |
Projected Market Value (2027F) |
US$ 16 Billion |
Global Market Growth Rate (2022-2027) |
5.7% CAGR |
United States Market Value (2022) |
US$ 3.4 Billion |
Canada Market Growth Rate (2022-2027) |
4.5% CAGR |
Joint Replacements Segment Market Value (2027F) |
US$ 5.7 Billion |
Japan Market Growth Rate (2022-2027) |
4.8% CAGR |
China Market Value (2027F) |
US$ 2.8 Billion |
Key Companies Profiled |
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Cartilage degeneration leads to many complications and results in bone diseases such as osteoarthritis and the world has witnessed a notable increase in the incidence of such ailments. This trend is expected to be rife across the forecast period as well and is anticipated to primarily drive cartilage degeneration market growth through 2027.
Increasing incidence of accidents and trauma are also anticipated to drive the demand for cartilage repair over the years to come. The increasing geriatric population, rising prevalence of obesity, growing number of sports injuries, and technological advancements in the global cartilage repair market are other factors that influence cartilage degeneration market potential.
However, the high costs of cartilage repair therapies and the lack of favorable reimbursement scenarios in most countries are anticipated to have a restraining effect on the overall market growth going forward.
From 2022 to 2027, the global cartilage degeneration market is slated to exhibit expansion at a moderate CAGR of 5.7%.
“Growing Senescent Population & Increase in Sports Injuries Driving Market Progress”
The aging population has been increasing in most parts of the world and this sect of people is more prone to bone diseases and disorders as cartilages degrade over time with age. Countries such as China and the United States are anticipated to witness a notable rise in the geriatric population and emerge as lucrative markets for companies in the cartilage degeneration industry.
People are more involved in outdoor and sports activities than ever before owing to the increasing focus on health and fitness and this has resulted in a rise in sports injuries, which is expected to promulgate cartilage degeneration market potential throughout the forecast period.
“High Costs of Surgeries to Hamper Market Growth”
Bone therapies and surgeries are usually associated with a hefty price tag owing to the use of advanced therapeutics and technologies that increase overall treatment costs. This factor is expected to have a negative impact on cartilage repair/cartilage regeneration market growth across the forecast period. The absence of favorable reimbursement policies is also a prospect that could potentially slow down cartilage degeneration market potential going forward.
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“North America & Asia Pacific to Provide Highly Attractive Business Scope”
The cartilage degeneration market in North America accounts for a dominant market share at present and is expected to hold its position throughout the forecast period. The presence of developed healthcare infrastructure, favorable reimbursement policies, increasing obesity, rising number of sports injuries, and advancements in cartilage repair treatments are some of the prime factors that are predicted to shape cartilage degeneration market growth in this region.
The Canada cartilage degeneration market is projected to exhibit evolution at a CAGR of 4.5% over the next five years.
The Asia Pacific cartilage degeneration market is anticipated to witness expansion at a higher CAGR than other regions owing to the increasing geriatric population and rising availability of cartilage degeneration treatments. Increasing investments in healthcare infrastructure development, supportive government initiatives, growing geriatric population, and increasing adoption of advanced treatment technologies are other factors that could dictate cartilage degeneration market growth through 2027.
China, India, and Japan are projected to be the key markets in this region across the forecast period. The China cartilage degeneration market is slated to evolve at a 5% CAGR throughout the forecast period to end up with a revenue valuation of US$ 2.8 billion by the end of 2027.
Meanwhile, the market for cartilage degeneration in Japan is anticipated to progress at a CAGR of 4.8% over the coming years. The Europe cartilage degeneration market is also anticipated to be a rewarding market owing to the rising incidence of osteoarthritis and increasing investments in research and development of novel cartilage repair therapeutics.
Fact.MR, a market research and competitive intelligence provider, has created a detailed assessment of opportunities in the cartilage degeneration market in all the major and minor regions in this revised cartilage degeneration market survey.
“High Prevalence of Obesity Driving Sales of Cartilage Repair & Regeneration Products”
The United States has witnessed a substantial rise in its obese population in recent years and this trend is expected to be prevalent across the forecast period as well. Increasing obesity puts people more at risk of joint pain and joint degeneration resulting in heightened cartilage degeneration. The increasing senescent population in this region is also predicted to favor cartilage degeneration market potential as they are more prone to be affected by bone degeneration.
The increasing availability of cartilage degeneration treatment products and procedures, the presence of developed healthcare infrastructure, and favorable reimbursement policies are other factors that uplift cartilage degeneration market potential through 2027.
The United States cartilage degeneration market in 2022 is valued at US$ 3.4 billion.
“Cartilage Degeneration Market Revenue Led by Rising Joint Replacement Procedures”
The global cartilage degeneration market, based on product, is segmented into joint replacements, chondroplasty, osteochondral transplants, microfracture, meniscus transplants, cell-based cartilage resurfacing, autologous chondrocyte implantation, and others.
Joint replacement procedures account for a lion’s share in the global cartilage degeneration marketplace and are anticipated to maintain this dominant stance across the forecast period owing to the rising number of joint replacement surgeries being performed across the world. High success rates of joint replacement procedures are primarily driving their popularity and are expected to do so through 2027.
Demand for joint replacement procedures is anticipated to rise at a CAGR of around 6% over the next five years and account for an estimated revenue of US$ 5.7 billion by 2027-end.
“Increasing Number of Knee Surgeries Driving Need for Knee Cartilage Repair”
The global cartilage degeneration market, based on application, is segmented into knees, hips, and others.
Knee injuries have risen in incidence over the past few years and are the most common type of trauma prevagrowing geriatric populationlent in the global marketplace. Advancements in knee replacement surgeries and favorable reimbursement for knee replacement surgeries are also expected to favor knee cartilage repair market growth over the coming years.
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Top companies in the cartilage degeneration industry are focusing on creating novel cartilage repair and restoration products to increase their business potential.
Companies in the cartilage degeneration market are also focusing on obtaining new approvals for their products to enhance their market presence and drive revenue generation capacity.
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Joint replacement procedures are anticipated to account for US$ 5.7 billion by the end of 2027.
By 2027, the global market for cartilage degeneration is slated to reach US$ 16 billion.
The global cartilage degeneration market is predicted to steadily evolve at 5.7% CAGR through 2027.
The market in China is predicted to expand at 6% CAGR and account for a value of US$ 2.8 billion by 2027.
Currently, the global cartilage degeneration market stands at US$ 12.1 billion.
North America leads the global market and accounts for a valuation of US$ 3.4 billion in 2022.
Medtronic plc., Johnson & Johnson (DePuy Synthes), Osiris Therapeutics Inc., Vericel Corporation, Anika Therapeutics Inc., MEDIPOST Co. Ltd., CONMED Corporation, and Arthrex Inc. are major companies dealing in cartilage degeneration treatment products.