The global knee cartilage repair market is highly consolidated as the
top five players operating in this market accounted for 74.7% of the
overall market in 2014. These players are DePuy Synthes, Smith &
Nephew plc, Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, and
Stryker Corporation. Transparency Market Research (TMR) has revealed
that these companies have established firm roots in the market and
are focusing on product innovation and engaging in strategic mergers
and acquisitions to remain at fore.
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Transparency Market Research has estimated that the global market for
knee cartilage repair will reach the value of US$2.7 bn by the end of
2023, from its initial value of 1.6 bn in 2014. The market is
expected to exhibit a growth trajectory of CAGR 5.80% during the
forecast period of 2015–2023.
Geographically, North America held a dominant share in 2014,
accounting for 40.7% share of the global market. This region is
expected to sustain its leading position over the forecast period
owing to introduction of technologically advanced products, rise in
incidence of obesity, and increase in orthopedic procedures.
The global market for knee cartilage repair is driven by changing
lifestyle and increase in geriatric population around the world,
along with growing trend of outdoor events and sports activities
among young as well as old generation. The sedentary lifestyle and
unhealthy dietary regimen followed by population in urban areas have
resulted in increasing incidence of conditions such as arthritis
among urban population. Furthermore, the lifestyle followed by urban
population doesn't focus more on regular exercises, which makes bones
and joints more vulnerable towards injuries.
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Obese and the elderly populations are highly disposed to degenerative
diseases such as rheumatoid arthritis, osteoarthritis, and other
strain injuries. The other key factors driving the growth of the
market for knee cartilage repair are increase in number of falls
leading to severe knee damage and deformities, industrial accidents,
and road accidents.
Knee cartilage repair is advantageous for conditions such as
slow-healing wounds, delayed unions, and mal-unions. Innovation are
being carried out in the development of knee cartilage repair
equipment and products, which is further expected to help the market
expand.
Lack or poor reimbursement in developing nations encouraging
innovative technologies is limiting this market to grow at its full
potential. Furthermore, due to negative media information pertaining
slow tissue recovery and side effects due to off-label practice of
particular equipment are acting as restraining factors for this
market. However, growth in arthroscopic chondroplasty segment is
expected to sustain the overall market for knee cartilage repair over
the forecast period. This is a procedure in which the injured tissues
are removed, which helps new and strong cartilage to grow.
Arthroscopic chondroplasty is used prominently for meniscal tears,
and rise in number of meniscal tears is expected to expand the market
for arthroscopic chondroplasty. Furthermore, increasing prevalence of
obesity and diabetes are most likely to fuel the market growth.
Diabetes results in loss of cartilage, making patients more prone to
bones and joints injuries. Latin America and MEA region are highly
subjected to increasing obese population, fueling the demand for
advanced cartilage repair products helping the overall market to
grow.
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