Reports show that the knee cartilage repair industry is set to increase at a rate of 5.95 CAGR through 2023. The knee cartilage industry is expecting the world’s population to continue to age, sending many into the geriatrics category.
Knee damage, or a reduction in the fluids that keep the knee moving freely, is one of the most common disorders among people aged 65 or older.
Supplements, such as Schiff Move Free, are also seeing an increase in sales as more people opt for supplementation over surgery during the beginning stages of knee issues.
Revenue in the industry, which involves therapeutic repairs that can replace or regenerate cartilage, is expected to rise to $2.75 billion. Evaluations of the industry’s current revenue, when looking at the market across the world, is $1.945 billion.
Obesity is also fueling the industry’s growth, as more people are becoming obese. The added weight causes damage to a person’s knees over a period of two decades before pain sets in. Loss of cartilage is a result of obesity and will start to occur in the joints.
North America accounts for 41.1% of the total knee cartilage repair market, followed by Europe at 28%.
Boston’s Orig3n also announced that the company will be focusing on osteoarthritis in a recent press release. The announcement claims that over 53 million adults in the US have arthritis of some form, and it’s the leading cause of disability in the country.
The company’s Cartilage Regeneration Program will allow it to further research and develop cell therapies that aim to regenerate cartilage. The therapies are being developed for people that suffer from arthritis, yet they will translate to therapies that can help restore knee cartilage, too.
The company is working on pre-clinical studies and claims that the early results for regeneration are promising.
Orig3n is working on what’s called induced pluripotent stem cells, or iPSCs. The cells are a major milestone in regenerative medicine and will pave the way for cells that can be specifically altered to work for cartilage regeneration.
The company’s cell bank has a high chance of being compatible with 90% of the world’s population. The cell bank consists of Human Leukocyte Antigens that minimize the risk of rejection among patients.
Orig3n has been encouraging the community to grow the largest cell bank of regenerative medical research since 2014. The company hopes that their advancement with the Cartilage Regeneration Program will allow them to advance the future of the health industry.