The Global Cartilage Regeneration Market was worth USD 421.5 million in 2016 and is projected to be growing at a CAGR of 14.2%, to touch USD 818.71 million by 2021.
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The main function of cartilage is to connect bones together. It does so by its elasticity to bend a bit but at the same time resisting stretching.
It is found in many parts of the body such as joints, the rib cage, nose, ear, 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 the throat (trachea, smaller respiratory tubes and larynx).
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Cartilage tissue is vital because of the flexibility and stability of movement it provides.
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The growth of the Global Cartilage Regeneration Market is driven by factors such as increasing incidence of joint and bone disorders such as Osteoarthritis, which are a result of damage or wear and tear of connective tissues and the growing aging population with related connective tissue ailments. Furthermore, increase 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 major restraints of market growth.
The Global Cartilage Regeneration Market is segmented on the basis of the Type of Treatment, Application and Geography. Based on the Type of Treatment used, the Cartilage Regeneration market is divided into Cell Based Approaches and Non-Cell Based Approaches.
The Cell based Approaches are further divided into Chondrocyte Transplantation, Stem Cells and Growth Factor Technology. Non-cell based approach is further classified into Tissue Scaffolds and Cell-free composites.
Based on Application, the Cartilage Regeneration Market is segmented into Hyaline Cartilage Regeneration and Fibrocartilage Regeneration.
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The market has been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. As of 2016, North America leads the market, accounting for the major global market share and expanding with the highest CAGR.
North America’s lead is warranted by the presence of high 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 swift 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 huge population base, once the costs of cartilage regeneration come down with growth in R&D and technology.
The major players in the Cartilage Regeneration Market are Zimmer Biomet Holdings, Inc. (U.S.), Vericel Corporation (U.S.), Smith & Nephew plc (U.K.), Osiris Therapeutics, Inc. (U.S.), and Arthrex Inc. (U.S.).
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