The global arthroscopy product market includes manufactured goods as well as orthopedic surgical and examination procedures. The market is anticipated to grow during the forecast period owing to rise in geriatric population base and rising incidences of obesity along with growing rates of sports related injuries. Athletes, professional sportsmen and people with higher outdoor activities are more prone towards these injuries. Other drivers of the market include emergent preference of individuals towards less painful surgical procedures and minimal invasiveness during surgery. The arthroscopic surgery provides the advantages of cost efficiency, minimal risk and faster recovery rate, which is expected to boost the market growth. Enhanced healthcare tourism further fuels the growth of the market, especially in the U.S. Healthcare tourism initiatives by the government through packages and deals inclusive of post operative follow-up and easier visa approval coupled with processing further expected to propel the market growth over the forecast period. Other social factors contributing towards growth include increased disposal income, higher spending by patients and positive attitude towards preventive treatment. Rising prevalence of osteoarthritis, bone tumor, and rheumatoid arthritis is expected to be a high impact rendering driver over the forecast period. Arthroscopy market is expected to take a digital leap during the forecast period and offer customized operation theaters that standardize and utilize imaging components. These centralized operation theaters would integrate power instruments, fluid management system, endoscopes and cameras. Digital ORs are anticipated to gain popularity due to technological advancement and reduced turnover time.
The arthroscopy product market is segmented on the basis of type of product, and surgical site. On the basis of type of product, it is classified into arthroscopes, fixation devices, cannula, arthroscopy fluid management system, arthroscopy shavers, arthroscopy visualization system, arthroscopy radio frequency system and arthroscopy implants. North America is the leading manufacturer of arthroscopes as most companies are domiciled in the U.S. The arthroscopic visualization segment is expected to witness the highest growth during the forecast period. Contributors of this growth are demand for better visuals and videos with higher resolution quality. On the basis of surgical site, it is segmented into knee arthroscopy, hip arthroscopy, shoulder arthroscopy, wrist arthroscopy, ankle arthroscopy, elbow arthroscopy, and spine arthroscopy. Arthroscopic implants are placed into the surgical sites, with knee implantation being the most popular segment with, more than 4 million diagnoses of which 2 million convert into procedures almost each year due to higher occurrence of knee dislocations and injuries. The shoulder arthroscopies constitute the next largest segment with about 1.4 million procedures performed globally in a year.
The arthroscopy product market is segmented into five regions namely North America, Europe, Asia Pacific (APAC), Latin America and MEA (Middle East and Africa). North America is the largest market for arthroscopy products. The dominance is due to higher healthcare tourism attraction, and technological advancement. The dominance is expected to sustain during the forecast period. European region is expected to retain its share in the market and grow during the forecast period owing to rise in geriatric and obese population. APAC region is anticipated to witness rapid growth in region such as India and China. Key drivers are increased disposal income, low taxation, availability of better insurance schemes and reimbursements, growing investment in the market and increased sports activity. Increased health tourism in India and China due to lower expenditure and satisfactory treatment using technological advanced systems and procedure further boosts the market. Bioresorbable devices such as scaffolds, sutures and anchors are replacing titanium and other non-resorbable materials during arthroscopic procedures leading to lower post surgery complication and abridged articular damage. Technological advancement of fixing bones firmly with soft tissues without the use of knots is another driver for the growth of this market.
Key players of arthroscopy product market are Arthrocare Corp., CorTek Endoscopy Inc., ConMed, Acumed, Aesculap, Arthrex, Inc., Opus Medical, Allsource, Aesculap, Stryker Corporation, Covidien Plc, Cannuflow, Olympus Corp., Synthes, Tornier Inc., DePuy Inc., Smith & Nephew Plc and Surgical innovations. Arthrex launched products with advanced technologies such as web based software platform which drives down cost and improves efficiency and aims towards providing user satisfaction. The AutoCuff System by Opus Medical combines a knotless fixation implant and a suturing device to allow for knot-free placement.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent."
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.