Rise in the inclination among patients toward non-invasive surgeries is anticipated to boost the sales growth in the global autologous matrix-induced chondrogenesis market.
Global Autologous Matrix-induced Chondrogenesis Market: Overview
Rise in the inclination among patients toward non-invasive surgeries is anticipated to boost the sales growth in the global autologous matrix-induced chondrogenesis market. Hence, the market for autologous matrix-induced chondrogenesis is prognosticated to expand at a CAGR of 8.6% during the forecast period of 2016 to 2024 and reach a valuation of US$186.38 Mn by 2024.
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A report by Transparency Market Research (TMR) delivers panoramic view of the global autologous matrix-induced chondrogenesis market. Hence, readers are provided comprehensive assessment of major crucial factors such as growth drivers, expansion opportunities, investment avenues, demand-supply ratio, challenges, restraints, and key regions of the market for autologous matrix-induced chondrogenesis.
The analysts of study by TMR have performed the segmentation of the global autologous matrix-induced chondrogenesis market based on several crucial parameters such as material and region. In terms of material, the market is divided into many parts such as collagen, hyaluronic acid, poly lactic-co-glycolic acid (PGLA), and polyethylene glycol (PEG), and others.
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Rise in Use of Collagen in Tissue Engineering Applications Fuels Prospects in Autologous Matrix-Induced Chondrogenesis Market
A human body comprises of about 30% collagen of all protein. Thus, collagen is used in a wide range of tissue engineering applications. In addition, it is gaining traction owing to its numerous advantages such as excellent handling properties and high tensile strength. These factors shows that the collagen segment of the global autologous matrix-induced chondrogenesis market is likely to offer revenue-generation opportunities in the years ahead.
The global autologous matrix-induced chondrogenesis market is estimated to be propelled by several important factors such as a surge in number of older populace across the globe and increase in understanding on the availability of autologous matrix-induced chondrogenesis techniques.
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Increase in Prevalence of Bone and Joint Disorders Drives Demand Prospects in Market
Microfracture surgeries are considered one of the efficient techniques for the repair of articular cartilage injury. In these surgeries, autologous matrix-induced chondrogenesis (AMIC) utilize bi-layer collagen membrane. Hence, increase in number of patients dealing with bone and joint disorders are expected to propel the autologous matrix-induced chondrogenesis market in the forecast period.
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North America Market to Expand owing to Rise in Older Population in Region
Several important regions studied in the TMR report on the global autologous matrix-induced chondrogenesis market include Europe, North America, Latin America, Middle East and Africa, and Asia Pacific. Among all regions, North America holds major share of the market.
In North America, there is a notable increase in number of older population, which is at higher risk of different health issues including bone and joint disorders. Hence, the autologous matrix-induced chondrogenesis market is prognosticated to experience high revenue-generation opportunities in North America with rising prevalence of several diseases pertaining to bone and joints, including rheumatoid arthritis and arthritis, among older population.
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Companies Develop Breakthrough Products, Increase Investments in R&Ds
The nature of the global autologous matrix-induced chondrogenesis market is fairly consolidated with a few companies holding major share of the global market. Hence, the competition levels in the market are highly intense. Players are using organic and inorganic strategies in order to sustain in this competition.
Players operating in the autologous matrix-induced chondrogenesis market are focused on the expansion of businesses in several developing nations. Moreover, are investing heavily in R&D projects in order to develop and launch breakthrough products. These initiatives are estimated to work in favor of the global autologous matrix-induced chondrogenesis market in the forecast period.
Some key players operating in the autologous matrix-induced chondrogenesis market include BioTissue AG, JRI Orthopaedics Ltd., B. Braun Melsungen AG, Anika Therapeutics, Inc., Geistlich Pharma AG, Arthro-Kinetics, Smith & Nephew plc, Zimmer Biomet Holdings, and CartiHeal, Matricel GmbH.
Enterprises in the autologous matrix-induced chondrogenesis market are developing strong policies in order to sustain their businesses in unfavorable situations they are facing owing to the COVID-19 outbreak. They are focused on continuing on their regular activities while following all safety norms implemented by the regional government bodies.
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