Cartilage plays an important role in smooth mechanical movements of bones and muscles. Degeneration of cartilage can lead to pain and chronic inflammation in joints. Furthermore, the damaged cartilage can potentially influence quality of the life. Continual research and development is leading to innovation of new techniques and methodologies to deal with damages cartilages. Some of these techniques comprises joint replacement, cell therapies, and chondroplasty amongst others.
Stryker, and Smith and Nephew Plc. – Notable Market Players in Cartilage Degeneration Market
Market leaders operating in the market have undertaken various organic growth strategies in the cartilage degeneration market. The cartilage degeneration market majorly consists of the players such as Zimmer Biomet, CartiHeal Inc., Vericel Corporation, Depuy Synthes, Anika Therapeutics, Inc., Conmed Corporation, Arthrex, Inc., B. Braun Melsungen AG, Stryker, and Smith and Nephew Plc among others. Several organic as well as inorganic approaches, such as product launches, and expansion, mergers & acquisition, collaborations in the cartilage degeneration market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the cartilage degeneration market:
|Month & Year||News|
|Apr-2018||AlloSource and Stryker launched the ProChondrix CR, that is a cryopreserved osteochondral allograft for the articular cartilage repair.|
|Dec-2018||Anika Therapeutics, Inc. resumed global distribution of its HYALOFAST, a biodegradable, cartilage repair scaffold. Recently, it has received regulatory approvals in Thailand, the UAE and Colombia. It has a commercial footprint in approximately 15 countries.|
|Mar-2019||Smith & Nephew plc acquired Osiris Therapeuticsand expanded its regenerative medicine product portfolio, including skin, bone graft and articular cartilage substitutes|