The cartilage degeneration market is expected to reach US$ 14,580.10 million in 2027 from US$ 10,459.93 million in 2019.
The cartilage degeneration market is expected to reach US$ 14,580.10 million in 2027 from US$ 10,459.93 million in 2019. The market is estimated to grow with a CAGR of 4.4% from 2020-2027.
Cartilage plays an important role in smooth mechanical movements of bones and muscles. Degeneration of cartilage can lead to pain and chronic inflammation in joints. Furthermore, this damaged cartilage can potentially influence quality of the life. Continual research and development is leading to innovation of new techniques and methodologies to deal with damages cartilages. Some of these techniques comprises joint replacement, cell therapies, and chondroplasty amongst others. The global cartilage degeneration market is driven by factors such as growing number of sports injuries, and increasing prevalence of obesity. However, the high cost of cartilage repair hampers the market growth. Additionally, growing number of product approvals and developments are creating growth opportunities for the market players.
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Cartilage Degeneration market Segmentation:
Based on application, the cartilage degeneration market is segmented into knee, hip, and other applications. In 2019, the knee segment accounted for the highest share of the market. Growth of this segment is attributed to the increasing prevalence of knee injuries.
For instance, according to study published on online newspaper, which is based on NCBI data, an estimated 1 in 4 adults suffer from chronic knee pain. Moreover, the prevalence of knee pain has witnessed massive growth of around 40.0% during past 4 decades. Furthermore, increasing awareness of benefits provided by cartilage repair is also anticipated to drive the growth of knee segment.
The cartilage degeneration market, by procedure type, is segmented into osteochondral transplant, chondroplasty, joint replacement, meniscus transplants, cell-based cartilage resurfacing, and other procedure types. The joint replacement segment held the largest share of the market in 2019, whereas the cell-based cartilage resurfacing segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the cartilage degeneration market is segmented into hospitals and specialty clinics, ambulatory surgical centers and,academic & research institutes. The hospitals and specialty clinicssegment held the largest share of the market in 2019. Also, the segment is estimated to register the highest CAGR in the market during the forecast period.
Zimmer Biomet, CartiHeal Inc., Vericel Corporation, Depuy Synthes, Anika Therapeutics, Inc., Conmed Corporation, Arthrex,Inc., B. Braun Melsungen AG, Stryker, and Smith and Nephew Plc. amongst others are some of the leading companies operating in the cartilage degeneration market.
Increasing Prevalence of Obesity
Obesity has a considerable effect on the musculoskeletal system, resulting into degeneration of bones, cartilage, and ligaments. Moreover, the condition, along with other prominent factors, is strongly allied with the increased risk of rapid cartilage loss. The growing prevalence of obesity is likely to accelerate the incidence of cartilage degeneration, which will drive the market growth.
According to the study published by the World Health Organization (WHO) in 2020, the frequency of obesity among the worldwide population has tripled since 1975. Furthermore, according to the same study, 38 million children below 5 years of age were overweight in 2019 worldwide. This massive prevalence of obesity is likely to accelerate due to unhealthy lifestyles such as consumption of junk food, sedentary lifestyle, genetic conditions, and deprivation of mental health. For instance, according to a study published by the Centers of Disease Control and Prevention, the prevalence of obesity grew from 30.5% to 42.4% during past two decades in the US. Overweight conditions among players and athletes can lead to the increasing prevalence of sports injuries. For instance, according to a study published in the British Journal of Sports Medicine in 2015, athletes with BMI index more than 30 kg/m2 are highly susceptible generationto the sports injuries. Such association between obesity and cartilage degeneration is anticipated to drive the market growth by 2027.
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