The South East Asia artificial cartilage and artificial joints market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 7.3 billion in 2019. The market is further expected to touch USD 15.0 billion by 2026, growing at a CAGR of 11.8% during 2020-2026 (forecast period). The artificial cartilage and Artificial Joints market is likely to grow in the forecast timeframe due to the rising usage of artificial cartilage and artificial Joints implants to repair degenerative cartilages. Additionally, they are useful in delaying total and partial joint replacement surgeries in elderly patients.
Increasing incidence of osteoarthritis
The rising cases of osteoarthritis are the major driver for the market as in the past years, the cases of osteoarthritis have raised across the globe. According to the studies, it is reported that around 1 million knee and hip replacement procedures were conducted each year in the region. it is also reported that degenerative joint diseases such as osteoarthritis will likely affect more than 130 million patients worldwide by 2050. The most adapted treatments for osteoarthritis are autologous chondrocyte implantation and Scaffold implants. Hence, the osteoarthritis rising cases are expected to drive the demand for cartilage repair and regeneration products.
Adoption of the technological advancements
Advanced adoption of the country's technical advances in the healthcare industry is acting as the major driver for the market. The bone defects which are caused by trauma, tumor resection, infection, and other congenital deformities, can be treats with artificial cartilage and artificial Joints is the Novel strategies have been utilizing such as cell sheet technology to enhance bone and cartilage regeneration. These are been developed over the past years and have shown great clinical potential in regenerative medicine due to their effective preservation of cell-cell connections and extracellular matrix and their scaffold-free nature. Additionally, recent advances in utilizing cell sheet technology are launched to regenerate bone and cartilage defects and bone–cartilage complex defects.
· In 2019, Smith & Nephew had acquired one company namely Osiris Therapeutics, Inc. This acquisition helped in developing the company’s customer base and enhanced the advanced artificial cartilage and artificial Joints segment of Smith & Nephew. This acquisition would be further likely to benefit the company in terms of high revenue generation.
· In 2019, MEDIPOST had expanded the GMP manufacturing facility to accelerate CARTISTEM production. This is used in the artificial cartilage and artificial Joints treatment and hence would help the company in diversifying their services.
The artificial cartilage and Artificial Joints market is fragmented owing to the presence of several companies that provides varied artificial cartilage and artificial Joints products. However, the companies that hold the majority share of the artificial cartilage and artificial Joints market are, Syntellix A.G., Conformis, Osteopore International Pte Ltd, SmartBones,BioSpace.com. , EUREKA Clusters Artificial Intelligence Call – Enterprise, Auxein, B. Braun, Sandvik Coromant and others, and other prominent players.
In the artificial cartilage and artificial Joints market, prominent market participants compete based on price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for south East Asia expansion, in a bid to gain a more considerable brand reputation.
Scope of the Report
Historical data – 2016-2019
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Russia, Brazil, Japan, South Korea, China, UAE, South Africa, UAE, Turkey
By material, By Product, By application, By technology and By Country
Syntellix A.G., Conformis, Osteopore International Pte Ltd ,SmartBones ,BioSpace.com. , EUREKA Clusters Artificial Intelligence Call – Enterprise ,Auxein ,B. Braun ,. Sandvik Coromant and others
Scope of the Report
Ø Cobalt-Chromium Alloys
Ø Titanium and Titanium Cobalt
By End User
Ø Prosthetics Clinics
Ø Rehabilitation Centre
Ø Ambulatory Care Centers
Ø Orthopedic Clinics
Ø Artificial Joints of Knee
Ø Artificial Joints of Hip
Ø Artificial Joints of Shoulder
Ø 3D Printing
Ø Cemented Joints
Ø Non-Cemented Joints
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