Arthroscopic Devices market
Government initiatives for better quality of life by ensuring the masses are able to receive the treatment in affordable cost, increased geriatric population, rising incidences of accidents, increasing cases of sports injuries are key factors contributing to high CAGR of Arthroscopy Devices market during forecast period.
According to the current analysis of Reports and Data, the global Arthroscopic Devices market was valued at USD 4,905.4 Million in 2020 and is expected to reach USD 7,866.4 Million by the year 2028, at a CAGR of 6.2 %. Arthroscopy is a set of procedure which includes diagnosing and treating joint problems. Moreover, in the case of joint dislocation, arthroscopy also involves surgeries in that particular area. Arthroscopic devices enable the healthcare professional to view inside the joint without making a large incision. The rise in popularity and demand for a minimally invasive technique for surgical procedures across the globe is the primary factor that fosters the growth of arthroscopic devices market.
Leading companies operating in the market and profiled in the report include:
Smith & Nephew, DePuy Synthes, Stryker, Arthrex , ConMed, Zimmer Biomet, Medtronic, Karl Storz, B. Braun, Olympus, Richard Wolf, MEDICON, Sklar , Millennium, GPC Medical, and Johnson & Johnson.
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Further key findings from the report suggest
- Technological advancements in the field of surgeries and therapy are the key factor contributing to market growth. For instance, temporomandibular joints, when displaced from the original shape, Biopsies can be carried out using arthroscopic devices. There is no other way to overcome the problem. Hence, such a demand in diagnostic procedures is expected to boost market growth.
- Arthroscopic Partial Meniscectomy (APM) is now carried out to remove some or all of a meniscus from the tibio-femoral joint of the knee using arthroscopic (keyhole) surgery. Upcoming new surgical methods due to the rising demand in the minimally invasive technique are expected to propel the market growth in the near future.
- In recent years, the implants for arthroscopy have come up, which can be autoclaved. Moreover, in January 2020, Integrated Endoscopy launched, a single-use, high definition, and battery-operated arthroscope was launched using remarkable new technology.
- Rising demand for the minimally invasive procedure over the traditional method is expected to boost market growth during the forecast period. The recovery period for the conventional techniques of the surgery of the knee implantation is more than the modern method of surgery owing to the demand for arthroscopy devices.
- Sports injuries include spondylolysis and spondylolisthesis, stingers, disc injury, and Scheuermann’s disease are owing to the arthroscopic devices market. According to the sports injury Stanford children health statistics, in the United States, about 30 million kids and teenagers participate in some form of organized sports. More than 3.5 million injuries occur each year in the United States, which causes some loss of time of participation experienced by the participants. Almost one-third of all injuries incurred in childhood are sports-related injuries.
- The Arthroscopy Association of North America (AANA) and VirtaMed have signed a two-year collaboration agreement making VirtaMed the preferred and exclusive partner for virtual reality simulation training. The adoption rate for arthroscopy in developed nation is significantly increasing because of the application of high end technological advancement.
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Competitive Landscape:
Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
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Global Arthroscopic Devices Market Segmentation:
Type Outlook (Revenue in Million USD; 2020–2028)
- Arthroscopes
- Arthroscopic Implants
- Radiofrequency Probes and Wands
- Fluid Management System
- Motorized Shavers
- Visualized Systems
- Others
Application Outlook (Revenue in Million USD; 2020–2028)
- Shoulder Arthroscopy
- Knee Arthroscopy
- Spine Arthroscopy
- Others
End-Use Outlook (Revenue in Million USD; 2020–2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
The global Arthroscopic Devices market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Regional Outlook:
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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