Knee Cartilage Repair Devices Market Size, Share, Growth, And Industry Analysis By Type (Targeting System, Tissue Graft, General surgical instruments, And Others) By Application (Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, And Others) Regional Forecast By 2031

Updated On: 15 April 2024

Knee Cartilage Repair Devices Market Report Overview

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The global knee cartilage repair devices market size was USD 1.44306 billion in 2021, as per our research, the market is expected to reach USD 5.041 billion by 2031, exhibiting a CAGR of 13.14% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with knee cartilage repair devices market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Knee cartilage repair is a procedure to aid in healing and restore the joints' natural range of motion. The connective tissue in the body that allows us to move quickly is found in the knee cartilage. Our bodies include connective tissues in many different places, including the joints. The cartilage in our knees is a connective tissue that covers the bones of the joints and keeps them mobile, allowing for smooth and quick movement of the joints. The cartilage also protects the joints from potential harm from collisions. Although the cartilage in our joints is less flexible and firmer than other muscle tissue in our bodies, it is still not as rigid as bone tissue, which helps maintain our joints' smoothness while we move.

One of the key factors driving the market for knee cartilage repair devices is the looming threat of unhealthy lifestyles eroding joint tissues. The market for knee cartilage repair devices is seeing an increase in demand due to the increased prevalence of diseases in the elderly, such as osteoarthritis (OS), commonly known as joint inflammation. The market's growth results from the rising incidence of accidents that cause bone damage; these accidents might range from auto accidents to sports injuries.

COVID-19 Impact: Halt In Cartilage Repairs In Hospitals Impeded Market Progress

Due to the COVID-19 pandemic, the market for knee cartilage repair devices suffered a fall in growth due to lower supplies of the devices worldwide. Additionally, the growing number of people waiting on the hospital waiting list for repairs during the pandemic also harmed the market growth for knee cartilage repair devices. Since many patients were refused knee cartilage repairs during the COVID-19 pandemic since healthcare providers and facilities were more focused on treating infected COVID-19 patients, the demand from the healthcare industry for knee cartilage repair devices was dramatically reduced. As a result, the market for these devices experienced a steady drop.

Latest Trends

"Technological Additions To Product Raises Product Demand"

The introduction of cartilage regeneration therapy based on STEM cell regeneration has significantly impacted the market. The STEM cells and their capacity to regenerate reasonably quickly have been introduced by knee cartilage repair devices' research and development team to speed up the cartilage repair process. A STEM cell is a great candidate for the knee cartilage repair devices market since it is an immature cell that may change and develop into any cell of our body. As they require less invasive procedures with smaller incisions and 2D image assistance, arthroscopy innovation is also anticipated to help the growth of knee cartilage repair devices.

Knee Cartilage Repair Devices Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into targeting system, tissue graft, general surgical instruments, and others. Targeting system segment is predicted to dominate the market by type during the forecast period.

• By Application Analysis

Based on application, the market can be divided into hospitals, ambulatory surgical centers, orthopedic clinics, and others. Hospitals segment is expected to be in the top in the market by application during the 2021-2031 market years.

Driving Factors

"Rising Incidents Of Osteoarthritis Causes Market To Expand"

A significant portion of the population has recently been troubled by the rising menace of joint problems. Since the majority of people now lead more mobile lifestyles, problems such as obesity are on the rise. Eventually, a lack of activity can cause the cartilage in our knee joints to break down. Around the world, there is a sizable portion of the elderly population. As they age and experience deteriorating health, their joints weaken and eventually develop osteoarthritis, necessitating cartilage repair. As a result, there is a tremendous increase in the devices to restore the market for knee cartilage repair devices.

"Growth In Sports Helps Facilitate Market Growth"

According to a study by SkyQuest, those participating in sports activities are more prone to developing knee cartilage lesions that require knee cartilage repair devices to restore the connective tissues. Since the cartilage tissues are less flexible, they are more likely to sustain damage from the everyday, strenuous physical activity that athletes engage in. Athletes are constantly under pressure to perform better and stretch the tissues to their breaking point, which needs significant therapy. Prolonged abuse of the joints causes connective tissues to develop lesions. Due to the increase in sports injuries as sports activities become more and more popular, especially among younger generations, the market for knee cartilage repair devices can witness a significant opportunity.

Restraining Factors

"Cost Of Surgeries To Hamper Product Demand"

Due to the high cost of having the necessary surgeries, the market for knee cartilage repair devices may see low success rates. Compared to knee replacement procedures, the knee cartilage repair devices employed in the procedure aid in better and more durable healing. However, the rising cost of surgeries is preventing the market from developing. Thus, this aspect may slow the knee cartilage repair devices market growth.

Knee Cartilage Repair Devices Market Regional Insights

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"Rising Burden Of Osteoarthritis Causes North America To Lead Market"

Most knee cartilage repair devices market share belongs to North America, which is also its top consumer. Due to the prevalence of osteoarthritis or joint inflammation in a significant portion of the population, the region ranks highest among other regions. There are several factors contributing to the rising demand for knee cartilage repair devices, including the adoption of an unhealthy lifestyle, frequent sports injuries, and R&D activity in the area.

Next in line to hold the majority of market shares for knee cartilage repair devices in Europe, followed by North America. The rising interest among Europeans in sports and outdoor activities across the continent is largely to blame for the market boom that the continent is currently experiencing. The popularity of various sports is gaining traction and driving the European knee cartilage repair device market toward success.

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

• Stryker Corporation (U.S.)
• B. Braun Melsungen AG (Germany)
• Smith & Nephew plc (United Kingdom)
• DePuy Synthes (U.S.)
• Zimmer Biomet (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 the factors such as 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.