Global Cartilage Repair Market | Growth, Analysis, Trends

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The Global Cartilage Repair Market to Propel at
CAGR of 15.56 by 2028
Triton Market Research presents the Global
Cartilage Repair Market segmented by Modality
(Juvenile Allograft Fragment, Osteochondral
Allograft, Autologous Chondrocyte Implantation,
Microfracture Chondroplasty), Application
(Knee, Other Applications), End-user (Ambulatory
Surgical Center, Hospital Clinic, Other
End-users), Product (Non-Cell-Based, Cell-Based),
Type (Fibrocartilage, Hyaline Cartilage), and by
Geography (Asia-Pacific, Middle East and Africa,
Latin America, Europe, North America). The market
report further discusses the Market Summary,
Industry Outlook, Key Insights, Impact of
COVID-19, Porter's Five Forces Model, Market
Attractiveness Matrix, Vendor Scorecard, Key
Market Strategies, Drivers, Restraints,
Opportunities, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2021-2028). Triton's
research report suggests that the global market
for cartilage repair is estimated to advance at a
CAGR of 15.56 during the evaluated years of
2021-2028.
GLOBAL CARTILAGE REPAIR MARKET 2021-2028
CAGR 15.56
The regional paradigm of CARTILAGE REPAIR Market
was dominated by NORTH AMERICA by capturing a
majority of revenue share. On other hand, ASIA
PACIFIC is anticipated to be the fastest growing
regional market over the forecast period.
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Cartilage repair refers to a cartilage
restoration method in which the injured cartilage
is replaced by extracellular matrix and newly
developed cells.
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The developing nations are offering lucrative
opportunities for cartilage repair manufacturers
to extend their business operations. Here, the
life science industry's continual development is
primarily driving the market's growth in
countries, such as India, China, and others.
Moreover, advancements in the healthcare sector
are expected to increase the demand for cartilage
repair products. However, the high cost of
cartilage repair surgery and the lack of
favorable regulations for the use of cartilage
repair products are restricting the progression
of the cartilage repair market. North America
holds the largest market for cartilage repair
market, and is likely to continue its hold over
the market till 2028. Canada's market is
estimated to surge as a result of various
factors, including growth in osteoarthritis among
the population, increase in geriatric population,
and rise in RD investments. Additionally, it is
anticipated that a large number of geriatric
people will reside in nursing homes by 2030. This
growth in the geriatric population amplifies the
risk of several conditions, augmenting the need
for better cartilage repair treatments.
Therefore, these factors are probable to widen
the scope of the cartilage repair market in the
region. Numerous prominent companies present in
the market include RTI Surgical, Smith Nephew
Plc, B Braun Melsungen AG, Medtronic Plc, Vericel
Corporation, Integra Lifesciences Corporation,
Cryolife Inc, Arthrex Inc, Zimmer Biomet Holdings
Inc, Osiris Therapeutics Inc, Organogenesis Inc,
Johnson Johnson, Stryker Corporation, and
Conmed Corporation. The cartilage repair market
has encouraged the entry of new players due to
the high growth opportunity and growing
investments from government and private
companies. However, as top companies have patents
for the current products, the new entrants will
have to pay a royalty to use them, which will add
to the final product's cost. This indicates that
the threat of new entrants is likely to be
moderate over the estimated period. Furthermore,
the competition among the existing market players
is growing, owing to product differentiation in
terms of quality, application, and cost. This
denotes that the threat of competition among the
current market players is expected to be at a
higher level.
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