The size of the Cartilage Regeneration Market in North America is predicted to worth USD 442.06 million by 2027 and USD 205.11 million in 2022, growing at a CAGR of 16.60% during the forecast period.
The expansion of the market in North America is being aided by an increased physician and patient awareness of newly developed treatment methods and technologies and significant government investments in the technologies and therapies used for Cartilage Regeneration. Autologous chondrocyte implantation and Scaffolds implants are two of the most frequent therapies for osteoarthritis. As a result, demand for cartilage repair and regeneration products is projected to rise as the prevalence of osteoarthritis rises. Research advances in biomaterials with promising in vivo findings have opened new vistas in the development of cartilage repair procedures; however, the benefit of these new approaches compared to conventional cartilage repair and regeneration techniques has yet to be proven in clinics. The growing number of cartilage repair and regeneration products being developed reflects the sector's growing interest and technological advancements. Basic research advances in cartilage repair led to improved therapeutic therapies, but their effectiveness is dependent on their ability to simplify surgical procedures and increase tissue regeneration.
The number of companies focusing on developing cartilage regeneration products has risen substantially over the last several years, driven by higher government funding in regenerative medicine for cartilage regeneration research. As a result, major companies in this market invest heavily in R&D, resulting in a robust pipeline of products based on diverse cartilage repair methods. The market is also being driven by technology improvements and the development of novel treatment techniques. Platelet-rich plasma injection, allografts, marrow stimulation drills, and extracellular matrix implants are some of the new medical devices and treatments to promote cartilage regeneration.
Although cartilage repair operations provide better and longer-lasting outcomes than total knee replacement surgeries, the expense of these treatments is one of the primary issues limiting patients from adopting them. In addition, regenerative medicine research is being restricted to a large extent in this region because of the presence of these groups and ethical concerns about the use of embryonic stem cells in research and development. A few of the other market restraints are expected to include unfavorable reimbursement scenarios and increasing therapeutic costs.
This research report on the North America Cartilage Regeneration Market has been segmented and sub-segmented into the following categories:
By Type Of Treatment:
North America held the largest share of the worldwide market in 2020. The high incidence of osteoarthritis, growing frequency of sports injuries, and increased research spending in the US and Canada contribute to the North American region's large share. The well-established healthcare infrastructure is largely responsible for industry growth. Furthermore, the region's rise is attributable to increased awareness of arthritis and government spending in the healthcare industry. Furthermore, the growth of the cartilage repair market in Canada has been aided by an increase in sports-related injuries and high demand for cartilage repair products. Obesity rates among people in the United States have risen dramatically. Furthermore, obesity rates are expected to rise in the next few years due to the majority of the population adopting bad eating habits. Obesity raises the risk of a variety of ailments, including osteoarthritis and joint pain. As a result, demand for cartilage repair products to treat such illnesses has increased, contributing to the market's development.
KEY MARKET PLAYERS:
Some of the promising companies leading the North American 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.).