Cartilage is a firm but flexible fibrous tissue that connects bones in various parts of the body like joints between bones i.e. elbows, keens and ankles. Cartilage repair refers to the regeneration of cartilage that has been damaged due to injury or normal wear and tear. The global cartilage repair market was 3.16 billion USD in 2018 and is forecasted to reach 4.60 billion USD by 2025 with a CAGR of 5.52% during the period.
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Growth by Region
In 2018, North America held half of the market share in the cartilage repair market owing to increasing prevalence of musculoskeletal diseases, presence of target population, and changing lifestyle of individuals in the U.S. and Canada. Rising prevalence of osteoporosis in the UK, Germany, and France is expected to contribute significantly in the European cartilage repair market.
Drivers vs Constraints
Rising incidence of accidental injuries and sports related injuries, growing orthopedic diseases and obese population is driving the growth of the market. However, high cost repair surgeries and limited health insurance coverage hinders the growth of the market.
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Industry Trends and Updates
Orthocell Ltd has been granted a European patent for its CelGro® collagen medical device platform for soft tissue regeneration and repair applications.
Anika Therapeutics, orthopedics and regenerative medicines company specializing in therapeutics based on its proprietary hyaluronic acid (“”HA””) technology, announced to display HYALOFAST, a biodegradable, HA-based cartilage repair scaffold at the 14th World Congress of the of the International Cartilage Repair Society (ICRS)