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 (Micro fracture Devices, Scaffolds, Osteo chondral Dart), By Cartilage Type (Fibro cartilage, 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, Carti Healhas 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.
An Overview of the Impact of COVID-19 on this Market:
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In terms of cartilage type, the market is classified into Hyaline Cartilage and Fibro cartilage. 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.
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.
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.
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