NEW YORK, Dec. 8, 2016 /PRNewswire/ -- The global cartilage repair/ cartilage regeneration market is projected to reach USD 779.8 million by 2021 from USD 414.6 million in 2016, growing at a CAGR of 13.5% during the forecast period of 2016 to 2021.
In this report, the cartilage repair/ cartilage regeneration market is segmented on the basis of treatment modalities, application, and region. Factors such as Increase in obese population and rising incidence of sports injuries are the major factors driving the growth of cartilage repair/ cartilage regeneration market. On the other hand, high cost of therapy and unfavorable reimbursement scenario are the major factors restraining the growth of this market.
On the basis of treatment modalities, the market is segmented into cell based approaches and non-cell based approaches. Cell based approaches are further segmented into chondrocyte transplantation, growth factor technology, and stem cells. Non-cell based approaches are segmented into tissue scaffolds and cell-free composites. The cell based approaches segment is expected to account for the largest market share in 2016. The large share of this segment can be attributed to long-term results of these therapies in terms of cartilage repair.
Based on applications, the cartilage repair/ cartilage regeneration market is segmented into hyaline cartilage and fibrocartilage. The hyaline cartilage segment is expected to account for the largest market share in 2016. The large share of this segment can be attributed to the high prevalence of cartilage damage in hyaline cartilage.
Based on geography, the cartilage repair/ cartilage regeneration market is segmented into North America, Europe, Asia, Pacific, and Rest of the World. North America is expected to be the fastest-growing regional segment in the cartilage repair/ cartilage regeneration market. North America is also expected to account for largest share in the cartilage repair/ cartilage regeneration market, by region in 2016. The high growth and largest share of this segment can primarily be attributed to the expansion of the cartilage repair/ cartilage regeneration market in this region due to presence of major players in this market and wide availability of cartilage repair products.
Acquisitions was the most widely adopted growth strategy pursued by players in the cartilage repair/ cartilage regeneration market, to increase their shares and cater to the unmet needs. The major players operating in the cartilage repair/ cartilage regeneration market include Zimmer Biomet Holdings, Inc. (U.S.), Vericel Corporation (U.S.), Smith & Nephew plc (U.K.), Osiris Therapeutics, Inc. (U.S.), and Arthrex Inc. (U.S.).
The report provides a picture on cartilage repair/ cartilage regeneration products and therapies across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as treatment modality, application, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Reasons to buy this report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the cartilage repair/ cartilage regeneration market. The report provides an analysis of the cartilage repair/ cartilage regeneration market, by treatment modality, application, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the cartilage repair/ cartilage regeneration market
- Market Development: Comprehensive information about lucrative emerging markets. This report provides an analysis of the cartilage repair/ cartilage regeneration market across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global cartilage repair/ cartilage regeneration market
- Competitive Assessment: In-depth assessment of market strategies, product portfolios, and manufacturing capabilities of the leading players in the global cartilage repair/ cartilage regeneration market
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