The North America cartilage degeneration market is expected to reach US$ 6,998.45 million by 2027 from US$ 4,889.27 million in 2019; it is estimated to grow at a CAGR of 4.7% from 2020 to 2027.
The cartilage degeneration market is growing primarily due to the increasing prevalence of sports injuries and obesity in North America. However, the high cost of cartilage therapies is restraining the growth of the market. Nevertheless, growing number of product approvals and rising emphasis on regenerative medicines are likely to fuel the growth of the cartilage degeneration market during the forecast period.
Degeneration of cartilage can lead to pain and chronic inflammation in joints of a human body. Furthermore, damaged cartilage can potentially influence the quality of a patient’s life. Continuous research and developments are innovating new techniques and methodologies to deal with damaged cartilages. A few of these techniques comprise joint replacement, cell therapies, and chondroplasty.
Athletes and players frequently get injured during sports activities. According to a study published by Stanford Children’s Health in 2020, an estimated 30 million children and teenagers participate in sports annually in the US. Further, the most common injuries observed among children and teenagers are sprains and strains. The sports injuries have significant potential to damage cartilage and ligaments. Thus, an increasing number of incidents of sports injuries among players and athletes is anticipated to drive the growth of the cartilage degeneration market during the forecast period.
The growing number of participants in sports leads to increasing possibilities of sports injuries. According to a study published by the National Federation of State High School Associations (NFHS), during 2018−2019, soccer, wrestling, and tennis witnessed significant growth in participation by high school boys in the US. Such an increasing number of participants in sports is projected to drive the prevalence of cartilage injuries, which will eventually accelerate the growth of the North America cartilage regeneration market by 2027.
As the COVID-19 pandemic continues to unfold in the North American countries, medical device companies are finding difficulties in managing their operations. Many companies operating in the US and offering products for cartilage regeneration have been affected by the effects of COVID-19 crisis. The pandemic has disrupted and restricted the abilities of the companies to distribute products as well as led to temporary closures of the facilities. Also, hospitals have postponed or canceled elective surgeries to free-up limited space and transform operating rooms into intensive care units. These factors associated with the current pandemic are affecting the growth of the North America cartilage degeneration market.
The knee segment accounted for the largest share of the market in 2019. According to a study published in an online newspaper, one in four adults suffers from chronic knee pain. The growth of the knee segment is attributed to the increasing prevalence of knee injuries. Furthermore, the increasing awareness of benefits provided by cartilage repair is anticipated to drive the growth of the knee segment.
The major secondary sources associated with the North America cartilage degeneration market report are World Health Organization (WHO), American Academy of Orthopaedic Surgeons (AAOS), Washington University Orthopedics, Agency for Healthcare Research and Quality, Centers of Disease Control and Prevention (CDC), National Federation of State High School Associations (NFHS), Arthritis Foundation 2020 and others.