Cartilage Degeneration Market size is valued at USD 13,926.2 million in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period 2022 to 2028. The global market provides a detailed overview and which can be segmented by treatment modality, application, type of treatment, site of action, end user, and region. By treatment modality, the cartilage degeneration market has been segmented into cell-based, and non-cell-based. By treatment modality, the cell-based segment held the largest revenue share of the cartilage degeneration market in past years and is expected to have the fastest growth rate over the forecasted period due rise in cartilage degeneration among various aged people which leads to enhances demand for cell-based cartilage treatment. By application, the Cartilage degeneration market has been segmented into hyaline cartilage and fibrocartilage. By application, the fibrocartilage segment held the largest revenue share of the gastric cancer therapy market in past years and is expected to have the fastest growth rate over the forecasted period due to a high prescription rate. By type of treatment, the Cartilage degeneration market has been segmented into palliative and intrinsic repair stimuli. By the site of action, the cartilage degeneration market has been segmented into knee cartilage repair. The knee segment accounted for the highest share of the market. The growth of this segment is attributed to the increasing prevalence of knee injuries. For instance, according to a study published in an online newspaper, which is based on NCBI data, an estimated 1 in 4 adults suffer from chronic knee pain. Moreover, the prevalence of knee pain has witnessed a massive growth of around 40.0% during the past 4 decades. Furthermore, increasing awareness of the benefits provided by cartilage repair is also anticipated to drive the growth of the knee segment. Based on the end user, the segment has been segregated into hospitals, diagnostic centers, orthopedic hospitals, and ambulatory surgical centers. The ambulatory surgical clinic segment held the largest share of the market in 2019. Also, the segment is expected to register the highest CAGR in the market during the forecast period. Key Development: In Jan 2021, New Treatment Target was discovered that halts osteoarthritis-like knee cartilage degeneration.
Fastest Growing Market
Obesity has a substantial effect on the musculoskeletal system, resulting in the degeneration of bones, cartilage, and ligaments. Furthermore, the condition, along with other prominent factors, is strongly related to the increased risk of rapid cartilage loss. The increasing prevalence of obesity is anticipated to accelerate the incidence of cartilage degeneration, which will further drive market growth.
The major factors driving the market growth are increasing number of sports injuries, and the rising prevalence of obesity.
The global Cartilage degeneration market size is valued at USD 13,926.2 million in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period 2022 to 2028.
North America dominated the global cartilage degeneration market and held a significant market share, and would expand to dominate the global market by making huge investments in healthcare sectors.
Product launches and acquisitions are the two key strategies opted by the leading companies in the market.