The global market for autologous matrix-induced chondrogenesis is expected to witness a high level of competition in the next few years, states a new market intelligence study by Transparency Market Research.
The global market for autologous matrix-induced chondrogenesis (AMIC) is expected to witness a high level of competition in the next few years, states a new market intelligence study by Transparency Market Research. The key players in the market are focusing on the expansion of the product portfolio, which is predicted to create growth opportunities for the market players in the next few years.
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In addition to this, the market players are focusing on the emerging economies, which is predicted to support the growth of the global autologous matrix-induced chondrogenesis market in the next few years. Some of the leading players operating in the autologous matrix-induced chondrogenesis market across the globe are Zimmer Biomet Holdings, Smith & Nephew Plc., and Geistlich Pharma AG.
According to a market research study published by Transparency Market Research, in 2015, the global market for autologous matrix-induced chondrogenesis was worth US$89.71 mn and is projected to reach a value of US$186.38 mn by the end of 2024. The market is anticipated to register a strong 8.60% CAGR between 2016 and 2024.
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Rising Geriatric Population to Drive North America Market in Near Future
From a regional outlook, the global market for autologous matrix-induced chondrogenesis has been classified into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. In the last few years, North America led the global market and is further projected to witness a high growth in the next few years.
The rising prevalence of several joint and bone disorders, including rheumatoid and arthritis and the increasing geriatric population are some of the major factors that are projected to accelerate the growth of the North America market in the next few years.
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Furthermore, Europe is likely to witness a healthy growth in the next few years, thanks to the rising contribution from France and Germany. On the other hand, Asia Pacific is estimated to register a fast growth rate in the next few years. The rising demand for the minimally invasive procedures and the rising disposable income of consumers are some of the key factors that are likely to encourage the growth of the Asia Pacific market in the near future.
In terms of material, the global market for autologous matrix-induced chondrogenesis has been segmented into collagen, poly lactic-co-glycolic acid (PGLA), hyaluronic acid, polyethylene glycol (PEG), and others. Among these, the collagen segment is anticipated to register a healthy growth rate in the next few years and account for a large share of the overall market. This segment is expected to be followed by the hyaluronic acid segment in the coming years.
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Rising Demand for Minimally Invasive Surgeries to Encourage Market Growth
The sale of the autologous matrix-induced chondrogenesis materials and products is expected to rise significantly in the next few years, thanks to the growing demand for minimally invasive surgeries. The rising awareness among people regarding this procedure is another major factor that is projected to enhance the growth of the overall market in the next few years. In addition to this, the rising geriatric population across the globe is considered as a key factor, which is estimated to accelerate the growth of the global autologous matrix-induced chondrogenesis market throughout the forecast period.
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