LONDON, Jan. 11, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the regenerative medicine for cartilage market, gene therapies are most promising technique to effectively treat and regenerate the damaged cartilage in case of bone and joint injuries and severe bone deformities. Gene therapy is defined as the treatment and management of disease by the introduction of foreign genes or sequences of encoded proteins into different type of cells by using gene transfer technique. Many manufacturers constantly evaluate the feasibility and safety of this technique in clinical trials.
For instance, in 2017, Kolon TissueGene, Inc received marketing authorization for its gene therapy product Invossa (TissueGene-C) a cell mediated gene therapy that contains non-transduced human chondrocytes (hChonJ) and transduced (hChonJb#7) human allogeneic chondrocytes. The hChonJb#7 cells were transduced with TGF-β1 gene by using retroviral vector and irradiated with gamma-ray, in South Korea, based on Phase 1 and Phase 2 clinical studies treating patients with moderate knee OA. In 2020, the US Food and Drug Administration (FDA) allowed the continuation of the Phase 3 clinical trial of Invossa, gene therapy for osteoarthritis, in the US.
The global regenerative medicine for cartilage market reached a value of nearly $4.83 billion in 2023 at a compound annual growth rate (CAGR) of 8.10%. Regenerative medicine for cartilage market growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact. The market is expected to reach $6.56 billion in 2025 at a CAGR of 7.94%.
LAST WEEK of our huge market research report sale! Grab your deal now.
The global regenerative medicine for cartilage market is fragmented, with a few large players constituting significant market share. The top ten competitors in the market made up to 24.69% of the total market in 2020. The market consolidation can be attributed to the high barriers to entry in terms of high costs associated with the production of regenerative medicine for cartilage. Major players in the regenerative medicine for cartilage market are B. Braun Melsungen AG, Zimmer Biomet Holdings Inc., Vericel Corporation, Stryker Corporation, Smith & Nephew plc, Arthrex Inc., CONMED Corporation, Collagen Solutions PLC, BioTissue Technologies, CellGenix, Osiris Therapeutics Inc., and DePuy Synthes.
Request for a sample of the global regenerative medicine for cartilage market report
TBRC’s regenerative medicine for cartilage market analysis report segments the market by treatment modality into cell-based, and non-cell-based; by treatment type into palliative, intrinsic repair stimulus, and others; by site into knee cartilage repair, ribs, and others; by application into hyaline cartilage repair and regeneration, elastic cartilage repair and regeneration, and fibrous cartilage repair and regeneration; by end use into ambulatory surgical centers, hospitals & clinics, and others.
Pharmaceutical companies and federal governments are increasingly working together in partnerships and collaborations to provide funding and implement incentive programs for the research and development (R&D) of regenerative medicine for cartilage. These partnerships provide financial and technical assistance across different clinical development phases to pharmaceutical companies. As per the regenerative medicine for cartilage market trends, in 2023, Government of Canada along with various provincial government have announced multiple investment initiative to setup flexible biomanufacturing capacity and new biotech innovation hubs.
As per TBRC’s regenerative medicine for cartilage market research, North America was the largest region in the regenerative medicine for cartilage market, accounting for 52.4% of the total in 2023. It was followed by the Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the regenerative medicine for cartilage market will be Middle East and Africa where growth will be at CAGRs of 31.9% and 30.7% respectively during 2023-2026. These will be followed by Eastern Europe and Asia Pacific.
Regenerative Medicine For Cartilage Market Global Report 2022: Market Size, Trends, And Global Forecast 2023 – 2026 is one of a series of new reports from The Business Research Company that provide regenerative medicine for cartilage market overviews, regenerative medicine for cartilage market analyze and forecast market size and growth for the whole market, regenerative medicine for cartilage market segments and geographies, regenerative medicine for cartilage market trends, regenerative medicine for cartilage market drivers, regenerative medicine for cartilage market restraints, regenerative medicine for cartilage market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Not the market you are looking for? Check out some similar market intelligence reports:
Stem Cell Therapy Global Market Report 2023 – By Type (Allogeneic Stem Cell Therapy, Autologous Stem Cell Therapy), By Cell Source (Adult Stem Cells, Induced Pluripotent Stem Cells, Embryonic Stem Cells), By Application (Musculoskeletal Disorders, Wounds And Injuries, Cancer, Autoimmune Disorders), By End-User (Hospitals, Clinics), COVID-19 Growth And Change
Gene Therapy Global Market Report 2023 – By Gene Type (Antigen, Cytokine, Suicide Gene), By Vector (Viral Vector, Non-Viral Vector), By Application (Oncological Disorders, Rare Diseases, Cardiovascular Diseases, Neurological Disorders, Infectious Diseases), By End Users (Hospitals, Homecare, Specialty Clinics), COVID-19 Growth And Change
Orthobiologics Devices And Equipment Global Market Report 2023 – By Product Type (Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cell Therapy, Plasma-Rich Protein, Viscosupplementation, Bone Morphogenetic Protein, Synthetic Orthobiologics), By Application (Osteoarthritis And Degenerative Arthritis, Soft-Tissue Injuries, Fracture Recovery, Maxillofacial And Dental Applications, Spinal Fusion, Trauma Repair, Reconstructive Surgery), By End Use (Hospitals, Orthopedic Clinics), COVID-19 Impact And Recovery
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
