Report : MENA Knee Cartilage Repair Service Market Size and Forecast (2020-2030), Regional Share, Trends, and Growth Opportunity Analysis Coverage: Procedure Type (Arthroscopic Chondroplasty, Microfracture, Cell-based Cartilage Repair, Osteochondral Grafts Transplantation, and Others) and End User (Hospitals, Ambulatory Surgical Centers, and Orthopedic Clinics)
Hospital Segment by End User to Account Larger Share in MENA Knee Cartilage Repair Service Market during 2022–2030
According to our latest study on “MENA Knee Cartilage Repair Service Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis" the market is expected to grow from US$ 222.56 million in 2022 and is expected to reach US$ 344.50 million by 2030; it is anticipated to record a CAGR of 5.5% from 2022 to 2030. The report highlights the key factors driving the MENA knee cartilage repair service market growth and prominent players with their developments in the market.
In most cases, injured knee cartilage does not heal on its own. Thus, procedures such as arthroscopic chondroplasty, microfracture, cell-based cartilage resurfacing, and osteochondral grafts transplantation are used to repair knee cartilage. These procedures may be performed on nearly any joint, although the most common ones are on the knees. Key factors driving the MENA knee cartilage repair service market growth includes rise in prevalence of osteoarthritis and developments in orthopedic field and stem cell therapy in orthopedics. However, shortage of health workers in Africa is hindering the growth of the MENA knee cartilage repair service market during 2022-2030.
The growing technological advancements have enabled the use of AI to diagnose cartilage defects which is expected to boost the knee cartilage repair services. Using AI, it is possible to identify the precise segmentation and robust assessment of chondral lesions, including diameter, shape, location, shape, and boundaries. Market players have developed AI tools and solutions for effective and efficient imaging technologies for all orthopedic segments. For instance, an Israel-based company, RSIP Vision, has developed an AI tool that accurately assesses chondral lesions in magnetic resonance imaging (MRI) scans for hips, knees, and ankles using noninvasive techniques. The AI tool offers an accurate measurement of osteochondral lesions that helps physicians evaluate the damage's severity and select an effective treatment plan. The tool also helps in assessing the efficacy of the treatment. Such innovations are expected to drive the knee cartilage repair service market as the prevalence of chondral lesions is much higher in older and young people. Moreover, articular cartilage has avascular nature, which limits its healing potential. In many cases, chondral lesions restrict athletes from participating in sports and may affect their daily activities. Therefore, the use of AI in diagnosing cartilage defects is expected to assist in choosing better treatment plans and eventually contribute to the growth of the market in the near future.
The MENA knee cartilage repair service market, based on procedure type, is segmented into arthroscopic chondroplasty, microfracture, cell-based cartilage resurfacing, osteochondral grafts transplantation, and others. The arthroscopic chondroplasty segment held the largest share of the market in 2022. The benefits of chondroplasty include improved joint function, reduced joint pain, slowed cartilage degeneration, and immediate relief. In general, recovery from an arthroscopic procedure is faster and less painful compared to recovery from traditional surgery. However, the cell-based cartilage resurfacing segment is anticipated to register the highest CAGR during 2022–2030.
Based on end user, the MENA knee cartilage repair service market is segmented into hospitals, ambulatory surgical centers, and orthopedic clinics. The hospitals segment held the largest share of the market in 2022 and the same segment is anticipated to register the highest CAGR in the market during 2022–2030. The hospitals segment is the largest end user segment in the knee cartilage repair service market. The segment's growth is attributed to the increased number of procedures for knee injuries and other orthopedic treatments. Hospitals provide treatment with specialized nursing staff and medical equipment. Additionally, the increasing number of hospitals offering innovative treatment options and advanced patient care as a part of orthopedic treatment will be responsible for the market growth for the segment.
Arthrex Inc, DePuy Synthes Inc, Zimmer Biomet Holdings Inc, Medacta Group SA, Anika Therapeutics Inc, Conmed Corp, Stryker Corp, CartiHeal Inc, Smith & Nephew Plc, and B. Braun SE are among the leading companies operating in the MENA knee cartilage repair service market.
Companies operating in the MENA knee cartilage repair service market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the MENA knee cartilage repair service market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall MENA knee cartilage repair service market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.
A few of the significant developments by key market players are listed below.
- In March 2022, US Food and Drug Administration had granted Premarket Approval (PMA) for its Agili-C implant of CartiHeal Ltd. CartiHeal Ltd is a developer of implants for the treatment of cartilage and osteochondral defects in arthritic and non-arthritic knee joints.
- In December 2021, DePuy Synthes Acquired OrthoSpin, Ltd. OrthoSpin developed and manufactures a first-of-its kind technology – an automated strut system – which is used in conjunction with DePuy Synthes MAXFRAME Multi-Axial Correction System, an external ring fixation system. This acquisition is a clear example of Johnson & Johnson’s continued commitment to advancing innovation in the medtech space.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com