Increasing adoption of minimally invasive surgery procedures is expected to drive growth of stem cell cartilage regeneration market. Stem cell therapy for knees, minimally invasive procedure has the potential to decrease inflammation, halt progression of arthritic damage, repair joint cartilage, and delay or avoid knee replacement surgery. Injection of progenitor cells, especially mesenchymal stem cells […]
Stem Cell Cartilage Regeneration Market to Cross US$ 298.3 million by 2027
Increasing adoption of minimally invasive surgery procedures is expected to drive growth of stem cell cartilage regeneration market. Stem cell therapy for knees, minimally invasive procedure has the potential to decrease inflammation, halt progression of arthritic damage, repair joint cartilage, and delay or avoid knee replacement surgery. Injection of progenitor cells, especially mesenchymal stem cells (MSCs) is found to be an effective and better solution for repairing degenerative cartilage compared to implantation of differentiated cells such as articular cartilage.
Increasing epidemic of osteoarthritis among the global population is expected to increase adoption of efficient and promising treatment such as stem cell therapy during the forecast period. For instance, according to the data findings published by Arthritis Foundation in November 2017, arthritis was the leading cause of disability among adults in the U.S. Over 53 million adults worldwide suffered from arthritis, which refers to over 100 types of joint diseases. This is expected to increase 49% to reach over 78.4 million by 2040.
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The global stem cell cartilage regeneration market is estimated to be valued at US$ 298.3 million in 2019, and is expected to exhibit a CAGR of 9.1% over the forecast period (2020-2027).
Stem Cell Cartilage Regeneration Market – Regional Insights
On the basis of region, the global stem cell cartilage regeneration market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to be the most lucrative region for growth of the stem cell cartilage regeneration market over the forecast period, due to high presence of key players in the region. Key players such as Vericel Corporation, Osiris Therapeutics, among others are focusing on various growth strategies such as gaining regulatory product approvals and launching innovative stem cell-based cartilage regeneration products and technologies in the market.
Furthermore, increasing geriatric population, who are more prone to degenerative disorders such as osteoarthritis among the U.S. population, is further expected to propel growth of the stem cell cartilage regeneration market in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), July 2018 data findings, from 2013-2015, around 54.4 million U.S. adults (22.7% of total U.S. population) annually suffered from some form of arthritis such as rheumatoid arthritis, gout, lupus, or fibromyalgia.
Market Dynamics
Government agencies are focusing on policies to enhance adoption of stem cell therapies, which is expected to drive growth of stem cell cartilage regeneration market over the forecast period. For instance, in December 2016, the 21st Century Cures Act (Cures Act) was signed into law by the U.S. FDA, thereby allowing legislation for an expedited approval path for cellular medicines designated as regenerative medicine advanced therapies (RMATs) for patients who need it.
Major Players Are: Theracell Advanced Biotechnology Ltd., Orthocell Ltd., Xintela AB, CellGenix GmbH, Merck KGaA, Osiris Therapeutics, Inc., BioTissue SA, and Vericel Corporation.
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