The Business Research Company’s Regenerative Medicine For Cartilage Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON , UK, March 17, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Tissue engineering and stem cell therapy are emerging trends in the regenerative medicine for cartilage market. The growth of tissue engineering technology has given hope for the regeneration of cartilage. Stem cell therapy is gaining attention with its advantages over traditional orthopedic treatments. Stem cell therapy helps to reduce knee pain and improves knee cartilage regeneration and repair. For instance, growth factors in the form of platelet-rich plasma (PRP) therapy are injected to promote tissue regeneration effectively. Companies operating in the market are continuously focusing on introducing new technologies to survive in the regenerative medicine for cartilage market.
Other trends in the cartilage regeneration market involve mergers and acquisitions. In April 2019, Smith & Nephew plc, a UK-based multinational medical equipment manufacturing company, acquired Osiris Therapeutics, Inc. for approximately $660 million. Osiris Therapeutics, Inc. is a US-based company that researches and develops therapeutic products for the regeneration of human connective tissues. The acquisition is expected to stimulate growth from Smith & Nephew’s advanced wound management franchise.
Major players in the cartilage regeneration industry are B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Vericel Corporation, Stryker Corporation, Smith & Nephew plc, Arthrex Inc., CONMED Corporation, Collagen Solutions PLC, BioTissue Technologies, CellGenix, Osiris Therapeutics Inc., and DePuy Synthes.
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The global regenerative medicine for cartilage market is expected to grow from $4.47 billion in 2020 to $4.83 billion in 2021 at a compound annual growth rate (CAGR) of 8.10%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cartilage repair market is expected to reach $6.56 billion in 2025 at a CAGR of 7.94%.
The global cartilage repair/regeneration market is segmented by treatment modality into cell-based, non-cell-based, by treatment type into palliative, intrinsic repair stimulus, others, by site into knee cartilage repair, ribs, others, by application into hyaline cartilage repair and regeneration, elastic cartilage repair and regeneration, fibrous cartilage repair and regeneration, by end-use into ambulatory surgical centers, hospitals & clinics, surgical centers, others.
Regenerative Medicine For Cartilage Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides regenerative medicine for cartilage market overview, forecast regenerative medicine for cartilage market size and growth for the whole market, regenerative medicine for cartilage market segments, and geographies, regenerative medicine for cartilage market trends, regenerative medicine for cartilage market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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