DUBLIN--(BUSINESS WIRE)--The "Regenerative Medicine For Cartilage Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global regenerative medicine for cartilage market as it emerges from the COVID 19 shut down.
The global regenerative medicine for cartilage market reached a value of nearly $3,779.4 million in 2021, having increased at a compound annual growth rate (CAGR) of 4.6% since 2016. The market is expected to grow from $3,779.4 million in 2021 to $5,017.3 million in 2026 at a rate of 5.8%. The market is then expected to grow at a CAGR of 6.0% from 2026 and reach $6,727.0 million in 2031.
Companies Mentioned
- Smith & Nephew plc
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
- B. Braun Melsungen AG
- Arthrex Inc.
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Growth in the historic period in the regenerative medicine for cartilage market resulted from a rise in awareness and expenditure in healthcare, changes in lifestyles, ability to command high prices, strong economic growth in emerging markets, increase in insurance coverage, and rapid growth in elderly population. The market was restrained by stringent regulations from regulators, inadequate reimbursements, and low healthcare access.
Going forward, increasing prevalence of chronic diseases, rising geriatric population, technological advances, and a rise in healthcare expenditure are expected to be the major drivers of the market. Factors that could hinder the growth of the market in the future include rising popularity of alternative therapies and natural remedies, tissue-engineered products and biomaterials are lagging in adoption, and low per capita healthcare expenditure.
The regenerative medicine for cartilage market is segmented by treatment modality into cell-based, and non-cell-based. The cell-based segment was the largest segment of the regenerative medicine for cartilage market segmented by treatment modality, accounting for 91.2% of the total in 2021. Going forward, the non-cell-based segment is expected to be the fastest growing segment in the regenerative medicine for cartilage market segmented by treatment modality, at a CAGR of 11.6% during 2021-2026.
The regenerative medicine for cartilage market is also segmented by treatment type into palliative, intrinsic repair stimulus, and others. The palliative segment was the largest segment of the regenerative medicine for cartilage market segmented by treatment type, accounting for 38.3% of the total in 2021. Going forward, the palliative segment is expected to be the fastest growing segment in the regenerative medicine for cartilage market segmented by treatment type, at a CAGR of 7.0% during 2021-2026.
The regenerative medicine for cartilage market is also segmented by site into knee cartilage repair, ribs, and others. The knee cartilage repair segment was the largest segment of the regenerative medicine for cartilage market segmented by site, accounting for 47.6% of the total in 2021. Going forward, the ribs segment is expected to be the fastest growing segment in the regenerative medicine for cartilage market segmented by site, at a CAGR of 6.4% during 2021-2026.
The regenerative medicine for cartilage market is also segmented by end use into ambulatory surgical centers, hospitals & clinics, and others. The hospitals & clinics segment was the largest segment of the regenerative medicine for cartilage market segmented by end use, accounting for 66.8% of the total in 2021. Going forward, hospitals & clinics segment is expected to be the fastest growing segment in the regenerative medicine for cartilage market segmented by end use, at a CAGR of 6.1% during 2021-2026.
North America was the largest region in the regenerative medicine for cartilage market, accounting for 52.4% of the total in 2021. It was followed by the Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the regenerative medicine for cartilage market will be Middle East and Africa where growth will be at CAGRs of 31.9% and 30.7% respectively during 2021-2026. These will be followed by Eastern Europe and Asia Pacific, where the markets are expected to register CAGRs of 23.8% and 22.1% respectively during 2021-2026.
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