Report ID: SQMIG35D2072
Report ID:
SQMIG35D2072 |
Region:
Global |
Published Date: October, 2024
Pages:
157
|
Tables:
121 |
Figures:
77
Cartilage Repair Market size was valued at USD 1.25 Billion in 2023 and is poised to grow from USD 1.46 Billion in 2024 to USD 5.12 Billion by 2032, growing at a CAGR of 17% during the forecast period (2025-2032).
The global cartilage repair industry is witnessing significant growth driven by growing incidence of conditions such as osteoarthritis (OA) and arthritis, in conjunction with advancements in cartilage regeneration technologies. Other factors enhancing the incidence of OA include intensifying effects of obesity and other associated conditions, combined with growing elderly populations. According to the Centers for Disease Control and Prevention (CDC), approximately 34.2 billion Americans, or 10.5% of the population, have diabetes. Apart from this, growth in the market will be driven by smart devices and further technical developments, such as artificial intelligence and data analytics. The expanding prevalence of diabetes and obesity across the world will continue to drive the global cartilage repair market growth. Increasing obesity is going to fuel the need for cartilage repair products, in particular, for the Latin America and MEA region is expected to have growing markets. Indeed, as related by the American Heart Association (AHA), by 2030, the elderly will comprise approximately 40.0% of the world's population. As individuals are predicted to suffer from chronic diseases, this population will have huge demand generation for cartilage repair therapies and propel the market growth.
US Cartilage Repair Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG35D2072