The global cartilage repair market is witnessing considerable growth due to increasing geriatric population, increasing obesity, increasing healthcare expenditure, and growing sports related injuries. Moreover, increase in innovative product launches and growth of medical tourism leading to awareness about the cartilage treatment modalities across the globe is supporting the growth of the market. Based on the treatment modalities, cell-based approaches segment is expected to grow at the fastest rate during the forecast period, due to long term results of this treatment. The rapid growth in emerging economies and technological advancement in cartilage repair and regeneration products is expected to create opportunities for the manufacturers of cartilage repair products across the globe. However, the high cost of these products and lack of reimbursement for these treatments are the key factors hampering the growth of the global market. Geographically, North America has been the largest market for cartilage repair, owing to increasing prevalence of obesity, increasing healthcare expenditure, increased awareness, and easy accessibility to advanced technologies for cartilage repair and regeneration. The U.S. contributed largest revenue to the North American as well as global cartilage repair market. The increasing prevalence of sports injuries and increase in geriatric pool is the key driving factor for the U.S. cartilage repair market. The key players operating in the global cartilage repair market are Zimmer Biomet Holdings, Inc., Johnson & Johnson, Vericel Corporation, Smith & Nephew PLC, Osiris Therapeutics, Inc., RTI Surgical, Conmed Linvatec, B. Braun Melsungen AG, Anika Therapeutics S. R. L. and Arthrex, Inc.
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Lifescience Industry NewsLife science is a diversified industry that encompass Healthcare, Healthcare IT, Medical Devices, Pharmaceuticals, Biotechnology and Analytical & Scientific Instrumentation. The healthcare, biotechnology and pharmaceutical industries have been experiencing a significant spur in demand due to shifting demographics, changing healthcare trends, new diseases, technological advancements and transforming market scenarios. Healthcare IT and Medical Devices industries have been playing a transformative and beneficial role in healthcare through digitization of healthcare data and evolution of innovative technologies.
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