Report Overview
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The Global knee cartilage damage repair market size was USD 3869.5 million in 2022. As per our research, the market is expected to reach USD 4978.7 million by 2028, exhibiting a CAGR of 4.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the knee cartilage damage repair market growth and demand returning to pre-pandemic levels once the pandemic is over.
The market for repairing knee cartilage loss is expanding significantly due to increased knee injuries and the use of minimally invasive surgery. Damage to the knee cartilage can come from trauma, aging, or degenerative conditions like osteoarthritis. Millions of people worldwide may have pain, edema, and decreased mobility due to this damage, lowering their quality of life. Due to their success in regaining knee function and reducing discomfort, surgical procedures, including arthroscopy and cartilage transplantation, have become more popular recently. On the other side, regenerative medicine offers the opportunity to repair damaged cartilage utilizing stem cells or tissue engineering methods. Non-surgical therapy alternatives such as painkillers and anti-inflammatory medicines are included in the pharmaceutical sector.
When knee cartilage is injured, arthroscopy, a minimally invasive surgical treatment, is frequently performed to repair it. Small incisions are made to see and fix the damaged cartilage, and an arthroscope, a tiny camera, is inserted. This treatment provides quicker recovery and fewer post-operative problems than conventional open operations. An additional common method for repairing knee cartilage is cartilage transplantation. It entails transferring healthy cartilage from a tissue bank or a donor site, like the patient's knee. This method has demonstrated encouraging long-term results and is particularly successful in correcting bigger cartilage abnormalities. For the healing of knee cartilage, regenerative medical techniques like stem cell therapy and tissue engineering are also being investigated. Stem cells are injected into the injured area during stem cell therapy to encourage cartilage repair. Using a combination of cells, biomaterials, and growth factors, tissue engineering techniques try to produce new cartilage in the lab. Future knee cartilage injury restoration has a lot of potential thanks to these cutting-edge technologies.
COVID-19 Impact: Pandemic And The Postponement Of Elective Surgeries Accelerated The Market Growth
The COVID-19 epidemic has significantly impacted the market for knee cartilage injury repair. The demands of the epidemic have overburdened the global healthcare system, causing the cancellation of elective surgeries, including procedures to restore knee cartilage. The demand for knee cartilage restoration goods and services has temporarily decreased. However, the market for knee cartilage damage treatment is anticipated to recover as conditions improve and healthcare systems adjust to the new normal. There will be a surge in demand for knee cartilage repair treatments as the backlog of postponed surgeries must be cleared.
Latest Trends
"The Development Of Biologic Therapies Boosts Market Expansion"
The creation of biologic therapeutics is one of the most recent market advancements in knee cartilage damage healing. Injections of hyaluronic acid and platelet-rich plasma (PRP), two biologics, have grown in favor of non-surgical treatments for treating damaged knee cartilage. To encourage healing and minimize inflammation, PRP therapy involves injecting a concentrated solution of the patient's platelets into the injured area. Hyaluronic acid injections lubricate and cushion the knee joint, reducing discomfort and enhancing mobility. Using 3D printing technology for knee cartilage repair is another new trend. With 3D printing, customized scaffolds and implants may be produced for patients closely resembling the knee's organic structure. Better integration, a lower chance of implant rejection, and better patient outcomes are all features of these personalized solutions.
Segmentation
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- By Type Analysis
The market can be segmented into NSAID, osteochondral allografts, stem cells, autologous cultured chondrocytes, biological scaffold, and others.
Among these, the NSAID is projected to experience rapid growth through 2028.
- By Application Analysis
The market can be divided based on application into hospital, clinic, surgical center, and others.
The hospital is expected to hold the most market share in the upcoming years.
Driving Factors
"Prevalence Of Knee Injuries to Propel Market Expansion"
Due to variables including sports involvement, an aging population, and sedentary lifestyles, knee injuries are on the rise. Due to this, there is now more need for treatments that can restore knee function and reduce discomfort.
"Rising Desire For Minimally Invasive Surgical Techniques to Fuel Market Growth"
Due to their many benefits, minimally invasive surgical techniques like arthroscopy have become more popular than conventional open surgeries. Smaller incisions, less scarring, quicker recovery times, and lesser risk of problems are all benefits of these operations. The knee cartilage damage repair industry is expanding as more patients choose minimally invasive methods.
Restraining Factor
"Limited Availability Of Skilled Healthcare Professionals to Hinder Market Growth"
The knee cartilage injury restoration market confronts some barriers despite the optimistic growth prospects. The high cost of knee cartilage repair operations is one of the main issues. Surgery, regenerative medicine, and pharmacological treatments can be pricey, restricting access for patients with low incomes or insufficient insurance coverage. The scarcity of qualified medical personnel versed in methods for knee cartilage repair is another barrier. These operations require specialized knowledge and training to perform. The lack of qualified specialists could hamper the broad use of cutting-edge knee cartilage repair treatments.
Regional Insights
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"North America To Dominate Market Due To The prevalence of knee injuries"
North America holds the knee cartilage damage repair market share, and factors driving the market growth in this region include the prevalence of knee injuries. Sports involvement, aging populations, and sedentary lifestyles are some of the reasons contributing to the rise in knee injuries. This has increased the need for efficient pain-relieving and knee-function-restoration therapies.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- B. Braun Melsungen (Germany)
- Johnson & Johnson (U.S.)
- Zimmer Biomet (U.S.)
- Vericel (U.S.)
- MEDIPOST (South Korea)
- Arthrex (U.S.)
- Ocugen (U.S.)
- Smith+Nephew (United Kingdom)
- Stryker (U.S.)
- Osiris Therapeutics (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 3869.5 Million in 2022 |
Market Size Value By |
US$ 4978.7 Million by 2028 |
Growth Rate |
CAGR of 4.3% from 2022 to 2028 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the knee cartilage damage repair market expected to touch by 2028?
The knee cartilage damage repair market is expected to reach USD 4978.7 million by 2028.
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What CAGR is the knee cartilage damage repair market expected to exhibit by 2028?
The knee cartilage damage repair market is expected to exhibit a CAGR of 4.3% by 2028.
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Which are the driving factors of the Knee Cartilage Damage Repair market?
The Knee Cartilage Damage Repair market driving factors are the prevalence of knee injuries and the rising desire for minimally invasive surgical techniques.
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Which are the key players or most dominating companies functioning in the Knee Cartilage Damage Repair market?
B. Braun Melsungen (Germany), Johnson & Johnson (U.S.), Zimmer Biomet (U.S.), Vericel (U.S.), and MEDIPOST (South Korea) are some of the top companies in the Knee Cartilage Damage Repair market.