Pune, India, March 21, 2022 (GLOBE NEWSWIRE) -- The global knee cartilage repair market is currently witnessing increasing investment towards research and development. In a report, titled “Knee Cartilage Repair Market Size, Share and Global Trend By Product Type (Microfracture Devices, Scaffolds, Osteochondral Dart), By Cartilage Type (Fibrocartilage, Hyaline Cartilage), By Type of Cells (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), Geography Forecast till 2026” Fortune Business Insights studies the impact of ongoing researches and clinical trials on the overall market. For Instance, after receiving FDA IDE approval, CartiHeal has recently performed its first cartilage repair implantation procedure using Agili-C™ at the Missouri Orthopedic Institute. The market is witness several similar endeavors undertaken by the leading players, which are paving way for its growth.
In terms of cartilage type, the market is classified into Hyaline Cartilage and Fibrocartilage. The hyaline cartilage is a progressive segment and likely to expand at a faster rate. According to the report, frequent product launches are expected to contribute towards market expansion. For instance, CO.DON AG, introduced Spherox in the Europe knee cartilage repair market. Spherox is specially developed to treat knee cartilage tear or damage and offer enhanced personalized healing. Such factor positively contributes in market expansion.
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Increasing cases of knee injury and rising implementation of favorable reimbursement policies are factors responsible to propel growth in the global market over forecast period 2019-2026. Moreover, technological upgrades in the medical imagining technology such as MRI is expected to drive the global market.
The knee cartilage repair treatment involves consumption of regenerative stem cells. Increasing consumption of regenerative stem cells is in response anticipated to fuel the demand for knee cartilage repair treatment and therapeutics.
North America to Dominate Global Market
In the global knee cartilage repair market North America held a considerable share in 2018. Furthermore, the region is foreseen to emerge dominant in market over the forecast period 2019-2026. Increasing private and government funding to undertake research on scaffolds in the autologous chondrocyte implantation procedure is likely to enable growth. Such research being conducted is likely to enable growth in the market. B. Braun Melsungen AG company and Aesculap, Inc. are involved in a phase 3 clinical research on NOVOCART 3D. The product is a tissue-engineered cell-based product specially designed for treatment of knee cartilage damage. The product is yet to be approved by the Food and Drug Administration for use in the U.S. The approval will further lead to increase in demand for knee cartilage repair procedure. However, NOVOCART 3D is approved in Europe and can be used during the knee cartilage repair treatment. The Europe market is projected to witness impressive growth during the forecast period. Besides this, increasing cases of knee injury and orthopedic in region are expected to positively contribute towards market expansion.
COVID-19 Impact
COVID-19 Pandemic Hindered Market Revenue Owing to Decreasing Diagnosis Processes
The COVID-19 pandemic adversely influenced the market in 2020. The concerns such as scarcity of workforce & staff, the threat of transmission of COVID-19, and the deterioration in the imaging processes such as PET-CT SPECT procedures posed a test for the market growth in 2020. The decline in the procedures can be accredited to the interruption in supply chains, logistical challenges, and adoption of safety measures, which is difficult to maintain by centers.
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Food and Drug Administration’s Approval to Change Game for Market Players
In 2017 in the U.S., Vericel Corporation introduced the first MACI implant to treat symptomatic cartilage knee defects. The implant is an autologous cell-based scaffold and received approval from the Food and Drug Administration in 2016. The competition is also increasing in the market owing to prevailing opportunities. Some of the key players operating in the global market are Arthrex, Inc., B. Braun Melsungen AG, Smith and Nephew, MEDIPOST, Histogenics, Isto Biologics, Vericel Corporation, Osiris Therapeutics, Inc., and CellGenix.
Key Players Operating in The Knee Cartilage Repair Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Arthrex, Inc.
- B. Braun Melsungen AG
- Smith and Nephew
- MEDIPOST
- Histogenics
- Isto Biologics
- Vericel Corporation
- Osiris Therapeutics, Inc.
- CellGenix
- and other players.
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Major Segmentation:
By Product
· Microfracture Devices
· Scaffolds
· Osteochondral Dart
· Others
By Cartilage Type
· Fibrocartilage
· Hyaline Cartilage
By Type of Cells
· Hospitals
· Specialty Clinics
· Ambulatory Surgery Centers
· Others
By Geography
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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