Arthroscopy Instruments Market
Rising Prevalence of Musculoskeletal Disorders Influencing the Global Arthroscopy Instruments Market
Arthroscopy instrument manufacturers are likely to find attractive market opportunities in the forthcoming years. Market Research Future (MRFR) reports that the global arthroscopy instrument market is set to expand at a compound annual growth rate (CAGR) of 6.5% between 2018 and 2023. Rapid adoption minimally invasive procedures is reflecting favourably on the market. Introduction of new frameworks and technological advances in medical instruments are some of the other factors supporting the market growth.
Rising prevalence of musculoskeletal disorders globally is also propelling the market. There is a sharp rise if the incidence of osteoarthritis, rheumatoid arthritis, bone tumor. The world health organization (WHO) states that 18% of women and 9.6% of men aged over 60 years have osteoarthritis. The prevalence of arthritis has been growing in recent years; however, high cost of treatment and inaccessibility of instruments in developing countries are some of challenges for the market.
Segmental Overview
The segmental of the global Arthroscopy Instruments Market Size Analysis has been conducted into application, product and end-user.
Based on application, the market has been segmented into hip arthroscopy, foot and ankle arthroscopy, knee arthroscopy, shoulder arthroscopy, spine arthroscopy and others (hand arthroscopy and wrist).
Based on product, the market has been segmented into arthroscopic implants, visualization systems, power shavers, arthroscope, radiofrequency system, fluid management systems and others. The arthroscopic implants segment covers shoulder implants, hip implants, knee implants and others. The radiofrequency systems segment covers wands and footswitch, RF probes and RF generators.
Based on end-user, the market has been segmented into ambulatory surgical centers, hospitals and others.
Competitive Analysis
DePuy Synthes (U.S.), Smith & Nephew (U.K.), Conmed (U.S.), Zimmer Biomet (U.S.), Olympus (Japan), Richard Wolf (Germany), GPC Medical (India), Stryker (U.S.), Karl Storz (Germany), Arthex (U.S.), Medicon (Germany), Medtronic, Inc. (U.S.), Millennium (U.S.), Sklar (U.S.) and B. Braun (Germany) are among the companies functioning in the global arthroscopy instruments market.
Global Arthroscopy Instruments Market: Regional Segmentation
Key regions covered in the MRFR’s report include Asia Pacific, the Middle East & Africa (MEA), Europe, and America.
In terms of revenue, the Americas currently leading the global stryker arthroscopy instruments market. The market in the region remains highly dynamic and is characterized by several trusted instrument manufacturers competing for the top spot. On the back of increased use of minimally invasive, these manufacturers continue to find tremendous business opportunities in the region, especially in North America. Additionally, the rising number of patients with joint issues is partly influencing the arthroscopy instruments market in the region. A data released by the American Orthopedic Society for Sports Medicine reveals that each year close to 4 Mn Americans undergo knee arthroscopies while more than 1 Mn Americans undergo shoulder arthroscopies. Cases of arthroscopic surgeries have continued to increase in countries such as the US, Canada, Mexico, and Brazil.
Europe is the second largest market for arthroscopy instrument. This is linked to the region’s high healthcare spending. Favourable government policies are also playing a part in driving market growth in Europe. Meanwhile, the region has also witnessed a significant rise in number of patients. in 2016, the Arthritis Research U.K found in its survey that close to 10 Mn brits had a form of arthritis. Also, over 90,000 knee and over 86, 000 hip replacement surgeries are performed each year.
The market in Asia Pacific is not far too behind compared to the market in Europe and Americas. It is projected that APAC arthroscopy instruments market will witness the highest growth during the forecast period. While a massive patient pool already exists in the region, improving healthcare services and increased focus on delivering affordable healthcare is also providing an impetus to the region’s market.
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