Europe Allogeneic Human Chondrocyte Market, By Application (Osteoarthritis, Musculoskeletal System Disorders, and Others), By End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and By Country (Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe), is expected to be valued at US$ 3,440.5 million in 2027 and is expected to exhibit a CAGR of 10.2% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Rising prevalence of osteoarthritis is a major factor that is expected to drive the Europe allogeneic human chondrocyte market growth over the forecast period. According to the Versus Arthritis.org 2019 report, the prevalence of osteoarthritis in the U.K. was as follows in 2017:
|Conditions||Knee Osteoarthritis||4.11 Mn||420,000||275,000|
|Severe Knee Osteoarthritis||1.4 Mn||104,000||71,000|
|Hip Osteoarthritis||2.46 Mn||256,000||180,000|
|Severe Hip Osteoarthritis||726,000||64,000||48,000|
Europe Allogeneic Human Chondrocyte Market – Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 5 million infected individuals worldwide as of June 2020.
COVID-19 can affect the economy in three main ways; by directly affecting the production and demand, by creating disruptions in distribution channel, and by its financial impact on firms and financial markets. Due to the lockdown, many countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Furthermore, players operating in the allogeneic human chondrocyte market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials for manufacturing the culture media and other required materials for the cell culture due to irregularities in transportation. Moreover, distributors of these products are experiencing irregular demand from the retailers.
Browse 22 Market Data Tables and 20 Figures spread through 107 Pages and in-depth TOC on “Europe Allogeneic Human Chondrocyte Market”- Europe Forecast to 2027, Europe Allogeneic Human Chondrocyte Market, By Application (Osteoarthritis, Musculoskeletal System Disorders, and Others), By End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and By Country (Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe).
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Increasing approval by regulatory authorities to market players for conducting research and development activities is expected to drive the market growth. In April, Kolon TissueGene, Inc. declares that the U.S. Food and Drug Administration (FDA) sent an official notice to Kolon TissueGene, the U.S. biotech unit of Kolon Life Science, to resume the phase 3 trial of Invossa (TG-C) in the U.S.
Key Takeaways of the Europe Allogeneic Human Chondrocytes Market:
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