The Middle East & Africa cartilage degeneration market is expected to reach US$ 511.76 million by 2027 from US$ 426.91 million in 2019. The market is expected to grow at a CAGR of 2.4% from 2020 to 2027. The cartilage degeneration market is growing primarily due to the increasing prevalence of sports injuries and obesity among population in Middle East & Africa. Factors such as high cost of cartilage therapies are likely to restrain the growth of the market. Additionally, increase in awareness about bone degeneration therapy and rising emphasis on regenerative medicines is likely to fuel the growth of the cartilage degeneration market during the forecast period.
There have been several steps taken by the Saudi Arabia government to increase awareness among the people about several methods of bone regeneration therapies. For instance, the MoH’s keen interest in raising health awareness and in an endeavor to overcome the silent disease, a National Osteoporosis Awareness Campaign under the name “Immunize Your Bones!” was launched on the World Osteoporosis Day, 2006. It was projected to last for six months to target the Saudi population, mostly women. Information that was given during the campaign related to risks of the disease, the importance of getting screened, its treatment, and most importantly, its prevention and further to create awareness of osteoporosis in KSA, the society “Osteo-Club”, under SoS held scientific activities in 2010 in the format of presentations and discussions in Riyadh. The topics of discussion ranged from the epidemiology of osteoporosis to its treatment. Also, workshops funded by the SoS entitled “Bone Builders” and “Osteo-Strong” were designed to reach different parts of the Kingdom.
Additionally, companies in the cartilage degeneration market are undertaking increasing research and development activities to introduce innovative products. The new cartilage therapies enable the adoption of advanced cell technologies, which are strengthening procedural outcomes. The industry players in the cartilage degeneration market are focusing on establishing collaborations and partnerships for the development of advanced products with increasing procedural efficiency. Such increasing awareness about bone degeneration therapy is projected to offer a lucrative opportunity for the market's growth.
Countries in Middle East & Africa are facing challenges due to increasing incidences of COVID-19. The COVID-19 pandemic has become the most significant challenge in the region. Africa reported 895,157 cases as of 28 July 2020. The number of growing COVID-19 cases has been reported, such as, South Africa (471,123), Iran (298,909), Israel (68,299) and Kuwait (65,903). Moreover, the other Middle East countries have also been registered a growth in the number of COVID cases in the last few days, with the UAE reaching to 59,921 cases, Saudi Arabia reporting 272,590, and Qatar reaching to 110,153 confirmed cases. A lack of ICU beds and ventilators is common across the region. Apart from this, a huge population is already facing burden of non-communicable diseases; making them more vulnerable to the virus. Moreover, economic uncertainties and ongoing conflicts are worsening the condition in the region.
In 2019, the knee segment accounted for the highest share of the market. Growth of this segment is attributed to the increasing prevalence of knee injuries. Further, increasing awareness of benefits provided by cartilage repair is also anticipated to drive the growth of knee segment.
A few of the major secondary sources associated with the Middle East & Africa cartilage degeneration market report are the World Health Organization (WHO), and others.