Global Artificial Cartilage Implant Market: An Overview
Cartilage is a semi-solid dedicated connective tissue. It performs a wide range of roles in the human body. It is designed to bear weight, give support, torsion, and bending, and resists tension. Autologous chondrocyte implantation (ACI) is an advanced cartilage implantation method used in the new formation of the impaired articular cartilage.
According to the National Joint Registry in the U.K., approximately 160,000 people undergo knee replacement procedures each year. The growing research and developments in relation to synthetic materials, repair procedures, and technologies like 3-D printing are expected to bring major changes to artificial cartilage implant medical procedures in the near future.
The Food and Drug Administration in the U.S. recently granted an approval for synthetic cartilage implants for arthritis. Arthritis is a common ailment among old people. Additionally, the global artificial cartilage implant market is expected to offer treatment for important body parts such as the toe, which bears a major brunt while walking and lifting the body.
The Transparency Market Research (TMR) report provides an astute analysis of the global artificial cartilage implant market, which includes an in-depth analysis of development indicators and demand parameters that could influence the growth of this market. Main market parameters such as demand drivers and challenges of the global artificial cartilage implant market are discussed at length in this report.
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Global Artificial Cartilage Implant Market: Key Trends
Currently, there are over 54.4 million adults in the U.S. who suffer from gout, rheumatoid arthritis, and common arthritis, according to Centers for Disease Control and Prevention. The number is expected to increase rapidly due to growing cases of geriatric ailments. Additionally, ailments like diabetes and lifestyle-related issues such as lack of exercise and fast foods are expected to result in more growth for the artificial cartilage implant market.
Current cartilage implants in the market are not permanent solutions. Additionally, people who undergo surgeries experience immense pain when the connective tissue needs to be replaced. Hence, innovative technologies like durable cartilage implantation are expected to gain a prominent status in the near future. These technologies still in the pipeline of government body approvals replicate both flexibility and strength of the original tissue, and is expected to drive the global artificial cartilage implant market.
The global artificial cartilage implant market also faces some challenges in the near future. The key challenge in the artificial cartilage implant is the high cost of the replacement surgeries. Also stringent regulation procedures by the FDA are also expected hinder the market growth. However, newer synthetic materials which cause fewer complications during surgeries and increase the lifeline of the tissue are expected to drive growth.
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Global Artificial Cartilage Implant Market: Regional Outlook
Region wise, the upcoming report by TMR can offer insights into the global artificial cartilage implant market in North America, Western Europe, Asia-Pacific, Eastern Europe, Latin America, Middle East and Africa.
The artificial cartilage implant market in North America is expected to bag a notable share of the global artificial cartilage implant market. Large number of knee replacements, increasing geriatric population, and favorable healthcare insurance policies in the U.S. are the driving factors for the market’s growth in North America. The artificial cartilage implant market in Asia Pacific is expected to register robust growth. The Asia Pacific market is expected to register significant CAGR growth during the forecast period. Large population, growing number of elderly people, and increasing public and private funding for research and modernization of medical care infrastructure will contribute to the growth of artificial cartilage market in Asia Pacific region.
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Global Artificial Cartilage Implant Market: Competitive Dynamics
A few of the main players in global artificial cartilage implant market are Azellon Cell Therapeutics, Biomet, Inc., DePuy, Anika Therapeutics, and CellGenix.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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