PUBLISHER: The Business Research Company | PRODUCT CODE: 1429929
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429929
Regenerative medicine for cartilage involves a treatment administered during surgery to repair damaged knee cartilage using cells produced by the body that can generate cartilage. The process entails obtaining a biopsy to collect chondrocytes, the cells responsible for cartilage production. These chondrocytes are then multiplied in a laboratory setting before being implanted into the injured area as part of the surgical procedure.
The primary types of regenerative medicine for cartilage include cell-based, gene-based, and tissue-based approaches. Cell-based methods typically encompass processes, technologies, or products that involve living cells or are derived from them. They find application in various medical fields such as musculoskeletal, oncology, dental, wound care, among others, and are utilized by different end-users including ambulatory surgical centers, hospitals and clinics, and others.
The regenerative medicine for cartilage market research report is one of a series of new reports from The Business Research Company that provides regenerative medicine for cartilage market statistics, including regenerative medicine for cartilage industry global market size, regional shares, competitors with regenerative medicine for cartilage market share, detailed regenerative medicine for cartilage market segments, market trends and opportunities, and any further data you may need to thrive in the regenerative medicine for cartilage industry. This regenerative medicine for cartilage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The regenerative medicine for cartilage market size has grown strongly in recent years. It will grow from $4.24 billion in 2023 to $4.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The expansion observed during the historical period in the regenerative medicine market can be attributed to the rising prevalence of chronic diseases, growth in emerging markets, the implementation of the 21st Century Cures Act, rapid growth in the aging population, and improvements in healthcare awareness and expenditure.
The regenerative medicine for cartilage market size is expected to see strong growth in the next few years. It will grow to $5.64 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period in the regenerative medicine market can be attributed to the increasing demand for organ transplantations, a rise in healthcare expenditure, technological advancements in regenerative medicines, increased investments in regenerative medicine research, and changes in lifestyles. Major trends expected during the forecast period include the growing utilization of mesenchymal stem cell technology, heightened research and development on the use of novel gene therapy techniques, advancements in technology transfer and clinical translation, a rise in strategic collaborations, partnerships, and agreements, the emergence and growth of new companies, the role of injectable hydrogel in cartilage repair as a regenerative medicine, and global research initiatives and funding.
The escalating prevalence of osteoarthritis worldwide is set to be a key driver for the regenerative medicine for cartilage market. Osteoarthritis, a degenerative joint disorder primarily affecting the articular cartilage, is anticipated to impact at least 130 million individuals globally by 2050, as projected by the Arthritis Foundation. Autologous chondrocyte implantation and scaffold implants are among the commonly employed treatments for osteoarthritis. Consequently, the growing incidence of osteoarthritis is expected to fuel the demand for regenerative medicine for cartilage.
The surge in chronic diseases is poised to propel the growth of the regenerative medicine for cartilage market. Chronic diseases, enduring over an extended period and often throughout a person's lifetime, play a pivotal role in the need for medical specialty solutions, including regenerative medicine for cartilage. The prevalence of chronic diseases, particularly those impacting the musculoskeletal system, bodes well for the field of regenerative medicine. According to the World Health Organization, 74% of the 41 million annual deaths globally are caused by non-communicable diseases (NCDs) or chronic diseases. Notably, 17.9 million deaths result from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Consequently, the increasing incidence of chronic diseases is driving the growth of the regenerative medicine for cartilage market.
Emerging trends in regenerative medicine for cartilage include tissue engineering and stem cell therapy. The advancement of tissue engineering technology offers promising prospects for cartilage regeneration. Stem cell therapy, with its advantages over traditional orthopedic treatments, is gaining prominence for reducing knee pain and enhancing knee cartilage regeneration and repair. Technologies such as platelet-rich plasma (PRP) therapy, incorporating growth factors, are utilized to effectively promote tissue regeneration. Market players are actively introducing new technologies to stay competitive in the evolving landscape of regenerative medicine for cartilage.
Collaborations between pharmaceutical companies and government entities are on the rise, fostering partnerships aimed at providing funding and implementing incentive programs for the research and development (R&D) of regenerative medicine for cartilage. These collaborations offer financial and technical support across various clinical development phases. For instance, in 2021, the Government of Canada, along with several provincial governments, announced multiple investment initiatives to establish flexible biomanufacturing capacity and new biotech innovation hubs. Additionally, a $45 million investment was earmarked from 2022-2023 to support stem cell and regenerative medicine research through the Stem Cell Network.
In December 2021, Cesca Therapeutics Inc., a U.S.-based company specializing in automated cellular processing and autologous cell therapies for regenerative medicine, acquired the remaining 20% equity share of ThermoGenesis Corp. for an undisclosed amount. This strategic move allows Cesca to concentrate on its CAR-TX press cellular processing platform, enhancing efficiency in cellular manufacturing. ThermoGenesis, a healthcare company, focuses on developing automated technologies for cell-based therapeutics and bioprocessing.
Major companies operating in the regenerative medicine for cartilage market report are Smith & Nephew PLC, Integra LifeSciences, Stryker Corporation, MiMedx Group, Inc., Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, AbbVie, CONMED Corporation, Arthrex Inc., Baxter International Inc.,, China Regenerative Medicine International, AstraZenaca, ABLbio, Adimmune, Henlius, Innovent Biologics, Bio-Thera, Hisun Pharma, 3SBio, Biocon, Dr.Reddy's, Mylan, Kyowa Hakko Kirin, Takeda, Mitsubishi Tanabe, Cellgenix Gmbh, BioTissue Technologies, Corin Group, Medical Import Ltd., Lucideon, Orthonika, Merete, 3di GmbH, Aditus Medical GmbH, Anton Hipp GmbH, AREX SAS, Acelity L.P. Inc., Celgene Corporation, StemCells, Inc., Organogenesis Inc., NuVasive, Inc., Japan Tissue Engineering Co., Ltd., Advantagene, Inc., Mesoblast Ltd., Globus Medical, DePuy Synthes, Cryolife Inc., Johnson & Johnson, Medtronic PLC, Rti Surgical, CartiHeal, Inc., DJO Global Inc., Wright Medical Group, Auxein, Aesculap, Inc., AMEGA Biotech, BioMarin Pharmaceutical, Ache Laboratorios Farmaceuticos, Myralis Industria Farmaceuticaa, Biosonda Biotechnology, Ipsum Clinical, Steris Applied Sterilization Technologies
Europe was the largest region in regenerative medicine for cartilage in 2023. The regions covered in the regenerative medicine for cartilage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the regenerative medicine for cartilage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The regenerative medicine for cartilage market consists of sales of cartilage regeneration, platelet-rich plasma (PRP), and prolotherapy. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Regenerative Medicine For Cartilage Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on regenerative medicine for cartilage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for regenerative medicine for cartilage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The regenerative medicine for cartilage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.