Artificial Cartilage Implant Market by Type, End-User

Description

List of Tables

[185 Pages Report] The Artificial Cartilage Implant Market size was estimated at USD 118.22 million in 2023 and expected to reach USD 135.79 million in 2024, at a CAGR 15.37% to reach USD 321.69 million by 2030.

An Artificial Cartilage Implant is a cutting-edge medical device designed to mimic the function of natural cartilage. This implant is utilized primarily in orthopedic surgeries to treat patients suffering from cartilage damage, resulting from conditions such as osteoarthritis, trauma, or wear and tear due to aging. The innovation holds significant potential to enhance the quality of life for millions affected by joint pain and deterioration. Artificial cartilage implants present a series of advantages over traditional treatment methods for cartilage damage, paving the way for more effective, long-lasting, and less intrusive solutions. The global market for artificial cartilage implants is witnessing substantial growth, driven by an aging population, rising prevalence of musculoskeletal disorders, and technological advancements in material science and increasing success rates of orthopedic surgeries. However, the artificial cartilage implant market faces challenges, including high costs of surgery, and concerns over implant longevity and post-surgery complications. The increasing investment in healthcare infrastructure globally augments the potential for artificial cartilage implants market expansion.

KEY MARKET STATISTICS
Base Year [2023]	USD 118.22 million
Estimated Year [2024]	USD 135.79 million
Forecast Year [2030]	USD 321.69 million
CAGR (%)	15.37%

Regional Insights

The artificial cartilage implant market in the Americas is characterized by robust healthcare infrastructure and increased focus on research and development activities. Technological advancements and innovation in the United States are driving the growth of the artificial cartilage implant market in the American region. The rising prevalence of osteoarthritis and sports-related injuries, combined with an aging population, has boosted the demand for artificial cartilage implants in the Americas. The Asia-Pacific region showcases significant growth in the artificial cartilage implant market owing to increasing awareness of advanced treatment methods and rising healthcare expenditures. China, Japan, and South Korea are investing in healthcare infrastructure and a growing number of orthopedic procedures. The increase in the aging population and a higher incidence of joint-related disorders drive the market growth in this region. The EMEA region shows a diverse market landscape for artificial cartilage implants. Europe has a strong emphasis on healthcare quality and high healthcare expenditure. Well-established healthcare policies and funding for research and development also support the adoption of artificial cartilage implants. The artificial cartilage implant market is emerging in the Middle East and Africa, with the Gulf countries investing in healthcare infrastructure and showing increasing interest in advanced medical technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Artificial Cartilage Implant Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing prevalence of osteoarthritis of knee joint and carpometacarpal
- Rising awareness regarding artificial cartilage implants
- Growing healthcare expenditure and advanced healthcare facilities

Market Restraints
- High cost associated with the artificial cartilage and replacement surgeries

Market Opportunities
- Technological advancements in implant materials and surgical techniques
- Development of smart and 3D printing technologies for artificial cartilage implants manufacturing

Market Challenges
- Complications factors associated with artificial cartilage implants

Market Segmentation Analysis
- Type: Increasing demand for lower extremity joints artificial cartilage implant owing to the high prevalence of osteoarthritis
- End-User: Rising demand for artificial cartilage implants in hospitals for extensive patient care facilities

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Artificial Cartilage Implant Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Artificial Cartilage Implant Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Swiss university launches artificial knee trial backed by USD 13 million

The University of Basel is set to initiate a groundbreaking series of clinical trials across Europe, backed with a substantial USD 13.1 million in government funding, to explore the efficacy of a pioneering surgical procedure involving the grafting of Nasal Chondrocyte Tissue-Engineered Cartilage (NTEC) into knee joints affected by osteoarthritis (OA). This innovative approach, exclusively targeting patellofemoral OA and not suitable for cases of rheumatoid arthritis, aims to negate the immediate need for total knee replacement by rejuvenating the damaged cartilage. [Published On: 2023-11-15]

Sparta strengthens patent protection for Ormi implant

Sparta Biomedical has achieved a significant milestone with the acquisition of two new patents from the US Patent and Trademark Office for its cutting-edge Ormi implant, a promising solution for osteoarthritis treatment. This state-of-the-art implant harnesses the innovative synthetic cartilage, Galene, supported by a porous titanium base, designed to repair the damaged knee and restore its full functionality. The unique porous titanium structure encourages bone integration, ensuring a durable joint fixation. [Published On: 2023-08-25]

CartiHeal Announces First Commercial Implantation of Agili-C in the US

CartiHeal Ltd., a developer of innovative implants designed for the treatment of cartilage and osteochondral flaws in arthritic and non-arthritic knee joints, announces the US's first commercial implantation of its revolutionary Agili-C product. The Agili-C implant, distinguished by its unique bi-phasic design, promotes bone remodeling and cartilage regeneration. [Published On: 2023-07-26]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Artificial Cartilage Implant Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Artificial Cartilage Implant Market, highlighting leading vendors and their innovative profiles. These include Anika Therapeutics, Inc., BioPoly, LLC, CartiHeal, Inc. by Smith & Nephew PLC, CytoSeek Limited, Medtronic PLC, Narang Medical Limited, NUsurface, Orthox Ltd., Sartorius CellGenix GmbH, Sparta Biomedical Inc., Stryker Corporation, Uteshiya Medicare, and Zimmer Biomet Holdings, Inc..

Market Segmentation & Coverage

This research report categorizes the Artificial Cartilage Implant Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Lower Extremity Joints
- Upper Extremity Joints
- Vertebral Joints

End-User
- Ambulatory Surgery Centers
- Clinics
- Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-351BAD503B27

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing prevalence of osteoarthritis of knee joint and carpometacarpal
  - 5.1.1.2. Rising awareness regarding artificial cartilage implants
  - 5.1.1.3. Growing healthcare expenditure and advanced healthcare facilities
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with the artificial cartilage and replacement surgeries
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in implant materials and surgical techniques
  - 5.1.3.2. Development of smart and 3D printing technologies for artificial cartilage implants manufacturing
- 5.1.4. Challenges
  - 5.1.4.1. Complications factors associated with artificial cartilage implants
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing demand for lower extremity joints artificial cartilage implant owing to the high prevalence of osteoarthritis
- 5.2.2. End-User: Rising demand for artificial cartilage implants in hospitals for extensive patient care facilities
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Artificial Cartilage Implant Market, by Type

6.1. Introduction
6.2. Lower Extremity Joints
6.3. Upper Extremity Joints
6.4. Vertebral Joints

7. Artificial Cartilage Implant Market, by End-User

7.1. Introduction
7.2. Ambulatory Surgery Centers
7.3. Clinics
7.4. Hospitals

8. Americas Artificial Cartilage Implant Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Artificial Cartilage Implant Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Artificial Cartilage Implant Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Swiss university launches artificial knee trial backed by USD 13 million
- 11.3.2. Sparta strengthens patent protection for Ormi implant
- 11.3.3. CartiHeal Announces First Commercial Implantation of Agili-C in the US
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio