According to a new market research report “Cartilage Repair/ Cartilage Regeneration Market by Treatment modalities (Chondrocyte Transplantation, Growth Factor Technology, Tissue Scaffolds, Cell-free composites), Application (Hyaline Cartilage, Fibrocartilage), by Region – Forecast to 2021” published by MarketsandMarkets, the 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.
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Increase in obese population and rising incidence of sports injuries are the major factors driving the demand of cartilage repair/ cartilage regeneration. On the other hand, high cost of therapy and unfavorable reimbursement scenario are the major factors restraining the growth of this market.
Based on 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.
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On the basis of applications, the Cartilage Repair/ Cartilage Regeneration Market is segmented into hyaline cartilage and fibrocartilage. Among these segments, the hyaline cartilage segment is expected to account for the largest market share in 2016. Hyaline cartilage application segment is also expected to be the fastest growing application segment in the Cartilage Repair/ Cartilage Regeneration Market. This application segment is projected to grow at CAGR of 13.9% during forecast period. The large share and high growth of this segment can be attributed to the high prevalence of cartilage damage in hyaline cartilage.
Globally, 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.
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