The South & Central America cartilage degeneration market is expected to reach US$ 1,195.57 million by 2027 from US$ 959.32 million in 2019; it is estimated to grow at a CAGR of 2.9% from 2020 to 2027.
Increasing prevalence of sports injuries and obesity in the region are the key factors driving the growth of cartilage degeneration. However high cost of cartilage therapies is the major factor hindering the market growth in South & Central America.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, this 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.
Athletes and players frequently suffer due to injuries during sports activities. These injuries have significant potential to damage cartilage and ligaments. An increasing number of sports injuries among players and athletes is anticipated to drive the growth of the cartilage degeneration market during the forecast period. For instance. Traumatic injuries (80%) were more common than overuse injuries (20%) in football matches. The highest distribution of injury was in the lower limbs (80%), followed by the head (8.6%), spine (5.7%) and upper limbs (5.7%). The body regions most affected were the knee (28.6%), feet (17.1%), ankle (11.4%) and thigh (11.4%). The increasing number of participations in sports leads to the surge in sports injuries among the participants, which will eventually drive the growth of the cartilage degeneration market by 2027. For instance, football is the most popular sport in Brazil. The Brazil national football team, governed by the Confederação Brasileira de Futebol, has won the FIFA World Cup a record 5 times. Thus, the sports participation has been rapidly increasing boosting the market growth in the forecasted period.
The COVID-19 pandemic has become the most significant challenge in this region. The south America has reported 3,951,893 cases as of 28 July 2020. The number of growing COVID-19 cases has been reported, such as, Brazil (2,555,518). Many countries in the region have less developed and underfunded health systems, such as Peru, has less than 1000 intensive care unit beds for its 32 million inhabitants. A lack of ICU beds and ventilators is common across the region. Apart from this, a huge population already face a growing burden of non-communicable diseases; making them more vulnerable to the virus. Moreover, economic uncertainties and ongoing conflicts are worsening the condition in the region.
Rest of South & Central America Cartilage Degeneration Market, Revenue and Forecast to 2027 (US$ Mn)
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SOUTH & CENTRAL AMERICA CARTILAGE DEGENERATION MARKET SEGMENTATION
By Procedure Type
- Joint Replacement
- Chondroplasty
- Cell-based Cartilage Resurfacing
- Osteochondral Transplant
- Meniscus Transplants
- Others
By Application
- Knee
- Hips
- Other
By End User
- Hospitals and Specialty Clinics
- Ambulatory Surgical Centers
- Academic and Research Institutes
By Country
- Brazil
- Argentina
- Rest of South & Central America
Company Profiles
- B. Braun Melsungen AG
- Smith & Nephew
- Stryker Corporation
- CartiHeal, Inc
- Vericel Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Procedure Type, Application, and End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Brazil, Argentina
The List of Companies - South and Central America Cartilage degeneration Market
- B. Braun Melsungen AG
- Smith & Nephew
- Stryker Corporation
- CartiHeal, Inc
- Vericel Corporation
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- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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