Key Growth Strategies Adopted by Key Players in Cartilage Repair Market Like Smith & Nephew plc (UK), DePuy Synthes (US)

Illinois, United States, 2021-Jan-28 — /EPR Network/ — Key Players in Cartilage Repair Market:

Prominent players in the cartilage repair and regeneration market are DePuy Synthes (US), Smith & Nephew plc (UK), Zimmer Biomet (US), CONMED Corporation (US), Stryker Corporation (US), and Vericel Corporation (US).

DePuy Synthes (US) is leading player in the cartilage repair and regeneration market. The company has a strong geographical presence and brand image globally. The company offers products for the cartilage repair and regeneration market through the Orthopedic segment. The company operates in more than 60 countries across Africa, Western Europe, East Europe, Latin America, Asia Pacific, and the Middle East.

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Smith & Nephew (UK) is the another leading player in the cartilage repair and regeneration market. The company has a strong geographical footprint with its presence in over 100 countries across the Americas, Europe, Asia, Australasia, and the Middle East and Africa. Smith & Nephew sells its products and services through direct sales with the assistance of customer-service professionals, e-commerce, and third-party distributors. The company operates under three dedicated franchises, namely, Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. In 2018, the company recorded a substantial growth of more than 130% in its Sports Medicine division. To further strengthen its position in the cartilage repair and regeneration market, the company acquired one of the major players in this segment, Osiris Therapeutics (US).

Key Factors Driving Market Growth:

The growth of cartilage repair market is primarily driven by the increasing incidence of osteoarthritis and increasing funding and investments for research in this field.

The COVID-19 outbreak will impact the cartilage repair and regeneration market in the initial phase of the forecast period. Due to nationwide lockdowns, denied wound care services, and canceled or postponed elective surgeries, the cartilage repair and regeneration market is expected to decline during the initial phase of the forecasted period. However, during the latter half of the forecast period, the demand for cartilage repair and regeneration products is expected to rise drastically.

Expected Revenue Growth Analysis:

The Cartilage Regeneration Market is projected to reach USD 1,603 million by 2025 from USD 787 million in 2020, at a CAGR of 15.3% during the forecast period.

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The Asia Pacific region is the fastest growing region of the cartilage repair market in 2019.

The Asia Pacific region is estimated to grow at the highest CAGR in the cartilage regeneration market during the forecast period, this is mainly due to the rising geriatric population and the subsequent increase in the incidence of various disorders and injuries. Recent developments in tissue engineering and stem cell therapy will further fuel market growth.

Extensive primary research was conducted after acquiring basic knowledge about the global cartilage regeneration market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (such as personnel from the pharmaceutical and biopharmaceutical industry) and supply sides (such as C-level and D-level executives, product managers, marketing and sales managers of key manufacturers, and distributors) across four major regions—North America, Europe, Asia Pacific, and the Rest of the World. Approximately 80% and 20% of primary interviews were conducted with supply-side and demand-side participants, respectively.