Global Market Study on Autologous Matrix-Induced Chondrogenesis (AMIC): Polyethylene Glycol (PEG) Segment Expected to Grow with a Healthy CAGR over the Forecast Period
It is a biological procedure used in the Autologous Matrix-Induced Chondrogenesis (AMIC) Market to treat damaged articular cartilage. AMIC therapy is carried out in stages. After microfracture surgery, a bi-layer collagen I/III membrane is applied. With the goal of avoiding or delaying partial or total surgery for minor joint replacement (such as a knee replacement), it slows down cartilage deterioration. Chondral lesions in Grade III or IV, ranging in size from 2 cm2 to 8 cm2, are among the indications for AMIC.
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In terms of value, the global autologous matrix-induced chondrogenesis (AMIC) Market is anticipated to grow at a CAGR of 8.6% during the forecast period. The value of the global market for autologous matrix-induced chondrogenesis is projected to be US$ 96.11 Million in 2016 and US$ 186.4 Million by the end of 2024.
The need for minimally invasive procedures has greatly increased in recent years. Patients are being encouraged to choose minimally invasive surgeries by benefits such less post-surgery complications and side effects, quicker patient recovery, and shorter hospital stays. As a result, the market for autologous matrix-induced chondrogenesis is anticipated to grow over the course of the forecast period due to the increased need for minimally invasive operations.
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Most of the countries have less or no reimbursement for autologous matrix-induced chondrogenesis products or procedures. Autologous matrix-induced chondrogenesis products or procedures are not reimbursed by several health insurance companies in Europe. There is no reimbursement in most of the developing countries such as India, Australia, and Brazil. Hence, lack of efficient reimbursement is likely to hamper the growth of the autologous matrix-induced chondrogenesis market during the forecast period.
Regional analysis : Autologous Matrix-induced Chondrogenesis Market
The global Autologous Matrix-Induced Chondrogenesis market has been segmented into five major regions: North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
In terms of value, North America is estimated to be the dominant market for global Autologous Matrix-Induced Chondrogenesis market in 2016 and expected to witness a CAGR of 8.3% over the forecast period. APAC is estimated to be the fastest growing markets in terms of CAGR. PEG segment in the North America Autologous Matrix-Induced Chondrogenesis market is expected to register a CAGR of 11.3% over the forecast period.
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Market Segmentation : Autologous Matrix-induced Chondrogenesis Market
Key market players
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services.
Jun 06, 2023
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