Knee Cartilage Replacement Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1837
Knee Cartilage Replacement Market size is expected to grow at significant CAGR from 2017 to 2024.
Orthopedic disorders are leading cause of disability in geriatric population. Increased global geriatric population coupled with adoption of novel technologies to treat orthopedic disorders should drive the knee cartilage replacement market size. Increased prevalence of musculoskeletal disorders such as osteoarthritis and other orthopedic disorders will boost the surgery demand.
As per global burden of disease and the worldwide impact of all diseases and risk factors 2012, musculoskeletal disorders affect more than 1.7 billion people around the globe, it is the second greatest cause of disability. Moreover, favorable government policies to create awareness will also fuel the knee cartilage replacement market size over the forecast years.
Surge in sport related injuries is playing a key role in the industry growth. Some sports can result in long-term damage of knee cartilage. As per CDC, rise in the participation in organized sports is expected to accelerate the sport related injuries. Approximately, 30 million people participate in sports in the U.S., and more than 3.5 million under age 14 receive medical treatment for sport injuries every year. Increase in the number of sport injuries should escalate the knee cartilage replacement market size over the forecast period.
By procedure, knee cartilage replacement market is segmented into Autologous chondrocyte implantation, arthroscopic chondroplasty, osteochondral grafts transplantation, cell-based cartilage resurfacing, stem cell, sub chondroplasty, bio scaffolds, microfracture, others. Arthroscopic chondroplasty will dominate the industry over the forecast timeframe due to its advantages such as minimally invasive surgery and outpatient procedure to repair small area of damaged cartilage.
The bone and joint disorders are most disabling conditions suffered by the U.S. citizens. The government declared 2002–2011 as the U.S. Bone and Joint Decade, to provide national recognition to musculoskeletal disorders. The U.S. Bone and Joint Initiative (USBJI) creates awareness regarding various bone and joint disorders. Favorable government policies coupled with increased awareness will boost the U.S. knee cartilage replacement market size.
Presence of skilled healthcare professionals as well as increased bone and joint disorders will create huge demand for surgery products in Germany. Increased R&D is another factor contributing to the industry growth in future. For instance, the German firm Amedrix GmbH has developed minimally invasive surgical procedure for the treatment of cartilage defects.
China knee cartilage replacement market size should grow at significant CAGR due to increased healthcare expenditure and prevalence of musculoskeletal disorders in the country. As per estimates, healthcare spending in China is growing rapidly and annual expenditure is projected to grow at 11.8% between 2014 to 2018.
Population of individuals over the 60 years will reach 64 million by 2050 in Brazil, alarming the increasing prevalence of various musculoskeletal disorders. Adoption of cutting edge technologies and availability of advanced healthcare facilities should offer lucrative growth opportunities for Saudi Arabia knee cartilage replacement market.
Some of industry players include Zimmer Biomet Holdings, B. Braun Melsungen, DePuy Synthes, Vericel, Osiris Therapeutics, Smith & Nephew, and Stryker. Strategic partnerships, investment in R&D to develop innovative products are the major strategies adopted by companies.
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