The size of the Asia Pacific Cartilage Regeneration Market was valued at USD 99.47 million in 2022. It is projected to be growing at a CAGR of 13.1% and worth USD 184.08 million by 2027.
The growing incidence of osteoarthritis and the proliferation of chronic diseases such as diabetes and obesity are expected to drive the cartilage regeneration market growth in the APAC region. Obesity and degenerative joint illnesses are affecting the population across the Asia Pacific due to changing lifestyles. According to the Arthritis Foundation, more than half of Australians between the ages of 25 and 64 were diagnosed with osteoarthritis in the recent period. In addition, degenerative joint disease affects approximately 10% of the Chinese population. As per the China Association of Health Promotion and Education, the incidence of knee osteoarthritis in China grew by 45 percent over the recent period.
Other factors such as an increase in accidents, sports injuries, and obese people across the Asia Pacific significantly contribute to the market growth. Furthermore, the government and major companies in the region are increasing research in the field of cartilage regeneration which is expected to offer lucrative growth opportunities for the new market entrants. In addition, the growing healthcare expenditure, improving the healthcare sector, and supportive government policies are further driving the market growth.
As a result of increased government investments in regenerative medicine for cartilage regeneration research, the number of companies working on creating cartilage regeneration products has grown considerably in recent years. In addition, as a result of these factors, the number of clinical trials and novel technologies for cartilage regeneration has increased. Therefore, increasing investments in research and development to develop a solid pipeline of products based on various approaches to cartilage repair is a significant factor that fuels the market growth. Furthermore, the technological advancements and the adoption of innovative treatment approaches are expected to accelerate the market growth.
However, the expenses of this treatment are a significant barrier to market growth. In addition, because of the high prices, cartilage repair therapies are undervalued compared to knee replacement surgeries, resulting in a lower preference for these procedures. Furthermore, ethical concerns and safety concerns, such as immunological rejection, cancer, and teratoma formation, are significant constraints in their clinical usage.
This research report on the Asia Pacific cartilage regeneration market has been segmented and sub-segmented into the following categories:
By Type Of Treatment:
The Asia Pacific is one of the fastest expanding regions in the global cartilage regeneration market. The high prevalence of osteoarthritis, increasing incidence of sports injuries, and expanding research investments in India, China, and Japan can all be ascribed to the Asia-Pacific region's substantial proportion. The increased demand for cartilage repair regeneration in this region can be due to the region's growing obesity problem. Obesity is another key factor in the development of osteoarthritis in people. Over the forecast period, Asia Pacific is expected to grow at a rapid pace.
The number of persons affected by joint and bone problems has been steadily increasing all over the world. According to the World Health Organization, osteoarthritis affects 10% to 15% of all persons over 60. Therefore, as the population of the elderly grows, so will the number of cases of osteoarthritis.
According to the United Nations, by 2050, persons aged 60 and over would account for more than 20% of the global population, with 130 million people in the Asia Pacific suffering from osteoarthritis. The increase in the incidence of osteoarthritis will have a direct positive impact on demand for cartilage repair/regeneration therapies.
China accounted for the largest share of the cartilage regeneration market, and it is most likely to record a predominant share during the forecast period. The high prevalence of osteoarthritis, increasing incidence of sports injuries, technological advancement, and growing healthcare spending is propelling the market growth.
Similarly, India is projected to account promising share in the market owing to expanding research investments, growing awareness, and supportive government policies. Moreover, improving the healthcare sector, the growing population, and innovative procedures are expected to fuel the market growth.
KEY MARKET PLAYERS:
A few of the notable companies operating in the Asia Pacific cartilage regeneration market profiled in the report are 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.).
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