NEW YORK, March 8, 2023 /PRNewswire/ -- The cartilage repair market is projected to increase at a CAGR of 14.01% during the forecast period – 2022 to 2027 by Technavio data analysts and research experts. This market research report also suggests statistics about the market size that will grow by USD 720.15 million. Growing cases of osteoarthritis (OA), an increase in the number of sports injuries, and the rising obese population are projected as some key factors leading to the cartilage repair market share growth.
For more such market analysis updates, historic (2017 to 2021), and forecast market size
(2023 to 2027), request for the sample PDF report.
New Business Opportunities - Market Segments and Key Regions Analysis
As per Technavio's analysis, there are two market segments classified including cell-based and non-cell-based in the cartilage repair market.
Among these market segments, the cell-based segment is projected to record the highest market share growth during the forecast period. It was valued at USD 255.61 million in 2017 and continued to grow significantly by 2021.
Considering the geographical regions for market share growth, North America is projected at top of the list. 39% of the total market share growth will originate from North America by 2027.
The US and Canada are the key revenue generators in the cartilage repair market in North America.
Technavio further suggests, the key market vendors are focusing on the R&D of nanomedicine for cartilage repair and implementing strategies such as M&A to grow their geographical business reach. Therefore, such factors are projected to boost the market growth in the region during the forecast period.
For more detailed segment analysis and geographical business distribution, historic
(2017 to 2021), and forecast market size (2023 to 2027), get the exclusive sample PDF
report.
Key Market Driver, Trend, and Challenge
- The increasing obese population is significantly driving the cartilage repair market growth.
- Technavio also suggests lucrative opportunities arising in emerging economies will emerge as a primary market trend for growth in the cartilage repair market from 2022 to 2027.
- As an emerging market challenge, a lack of skilled surgeons may impede market growth as per Technavio's report.
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Key Market Vendors
There are a few key vendors operating in the market, mentioned in the report such as:
- 3M Co.
- Orthox Ltd.
- Arthrex Inc.
- Johnson and Johnson
- Bioventus LLC
- Geistlich Pharma AG
- Medtronic Plc
- B. Braun SE
- Orteq Sports Medicine Ltd.
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Key Data Covered in this Cartilage Repair Market Report
- Projected CAGR of the market during 2023-2027
- Detailed statistical information on the major market drivers of the cartilage repair market during 2023-2027
- Market size analysis of the cartilage repair market size and its association with the parent market
- Relevant predictions about upcoming market trends and detailed consumer behavior analysis
- Market share growth analysis across North America, APAC, Europe, South America, and the Middle East and Africa
- Detailed market's competitive landscape and key information about market vendors
- Comprehensive analysis of various market challenges
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Cartilage Repair Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.01% |
Market growth 2023-2027 |
$ 720.15 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.81 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., AlloSource, Arthrex Inc., B. Braun SE, Bioventus LLC, Geistlich Pharma AG, Johnson and Johnson, Medtronic Plc, Orteq Sports Medicine Ltd., Orthox Ltd., Regentis Biomaterials Ltd., Rosens Diversified Inc., RTI Surgical Inc., Sartorius AG, Smith and Nephew plc, Stryker Corp., TissueTech Inc., Vericel Corp., Xintela AB, Xtant Medical Inc., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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