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New York, October 28, 2020 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the “Europe Cartilage Degeneration Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Procedure Type, Application and End User and country – Regional analysis and market forecasts by type of procedure, application and end user “- https://www.reportlinker.com/p05978846/?utm_source=GNW
However, the high cost of cartilage therapies and the lack of a payback scenario are the factors holding back the market growth in this region.
However, the growing number of product approvals and the growing emphasis on regenerative drugs are likely to fuel the growth of the European cartilage degeneration market during the forecast period.
Cartilage degeneration causes chronic pain and inflammation in the joints of the human body, and damaged cartilage can potentially affect a patient’s quality of life.
Continuous research and developments are innovating new techniques and methodologies to treat damaged cartilages. Some of these techniques include joint replacement, cell therapies, and chondroplasty.
Companies in the cartilage degeneration market are undertaking various research and development activities to introduce more innovative products. For example, in September 2013, OligoMedic, Inc., a global designer, manufacturer and distributor of osteoarthritis products, launched its CE-marked JointRep ™ injectable implant for the treatment of joint cartilage defect. Furthermore, new cartilage therapies are enabling the adoption of advanced cellular technologies which, in turn, reinforce procedural outcomes. In addition, in May 2017, Co.DON AG obtained approval from the European Medicines Agency (EMA) for its Spherox, a knee cartilage repair product for the treatment of symptomatic articular cartilage defects in the femoral condyle and patella
The players operating in the cartilage degeneration market are focusing on creating collaborations and partnerships for the development of advanced products with increasing procedural efficiency. For example, in October 2018, Gelmetix, a UK-based actor, and Stemmatters, a Portuguese regenerative medicine company, entered into a strategic partnership to innovate and develop an advanced cartilage repair device. knee. Furthermore, the growing number of product approvals, developments, advanced technologies and strategic activities are expected to provide profitable opportunities for market growth.
The European economy is severely affected by the exponential increase in the number of COVID-19 patients in this region. performance of their devices.
This is expected to impact product launch and ongoing clinical trials of medical devices, thereby hampering sales and market growth. Furthermore, disrupted supply chains, prolonged blockages and the cancellation of other medical procedures have negatively impacted the growth of the cartilage degeneration market in Europe.
The knee segment accounted for the largest market share in 2019, and the growth of this segment is attributed to the increasing prevalence of knee injuries.
For example, according to a study published – based on NCBI data – in an online journal, one in four adults suffer from chronic knee pain in this region. Additionally, the prevalence of knee pain has seen a massive growth of around 40.0% over the past 4 decades. Additionally, growing awareness of the benefits provided by cartilage repair is expected to drive the growth of the knee segment.
Major secondary sources associated with the European Cartilage Degeneration Market report are the World Health Organization (WHO), British Journal of Sports Medicine, European Society of Sports Traumatology, Knee Surgery, Arthroscopy (ESSKA), Organization for Economic Cooperation and Development (OECD), and others.
Read the full report: https://www.reportlinker.com/p05978846/?utm_source=GNW
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