Surgeons use arthroscopy as a means of seeing inside joints. During an arthroscopic surgery a small device is implanted into a joint through a small cut. The tiny lens and fibre optic light of the arthroscope is connected to a camera and monitor which allows the orthopaedic surgeon to observe inside the joint and perform variety of different procedures. The market for arthroscopy devices is anticipated to reach US$ 5.61 billion in 2022, rising at a CAGR of 7.1% from 2022 to 2032.
Each year orthopaedic surgeons perform more than five million arthroscopies. Due to the continuous growth and aging of global population, there will be a steady demand for both emerging as well as established arthroscopy devices.
Knee and shoulder arthroscopy remain most common arthroscopic procedures worldwide. Most large or medium size joints, such as knees and shoulders are repaired by arthroscopic approaches. Surgery that years ago was able through an open approach now can be done via an arthroscopic approach, with similar long term outcomes, low post-operative pain, and reducing hospital stays.
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Global Arthroscopic Devices Market: Drivers & Restraints
The arthroscopic devices market has emerged as one of the attractive industries in the medical equipment sector. In the recent past, the orthopaedics industry has seen major private equity transactions, several mergers and innovative product launches which acts as a key driver for global arthroscopic devices market. Rise of aging population along with advancement in technology especially in medical and healthcare sector is likely to fuel arthroscopic devices market.
As consumers have become more health conscious and prefer high layout for orthopaedic treatments, global arthroscopic devices market is likely to project a promising future over the forecast period. A growing geriatric population worldwide has boosted the demand for arthroscopic devices and treatment globally. Increasing use of robotics creates more potential for arthroscopic devices market.
Global Arthroscopic Devices Market: Segmentation
On the basis of product type, the global arthroscopic devices market is segmented into
- Arthroscopes
- Arthroscopic Implants
- Shoulder Implants
- Knee Implants
- Hip Implants
- Small joint Implants
- Arthroscopic shaver systems
- Arthroscopic visualization
- Fluid management systems
- Arthroscopic Radio Frequency Devices
- Arthroscopic Radio Frequency Systems
- Arthroscopic Radio Frequency Wands
On the basis of procedures, the global arthroscopic devices market is segmented into
- Shoulder Arthroscopic procedure
- Knee Arthroscopic procedure
- Hip Arthroscopic procedure
- Others
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Global Arthroscopic Devices Market: Region-wise Outlook
In terms of geography, the global arthroscopic devices market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan.
The global arthroscopic devices market is expected to register healthy CAGR during the forecast period and offers considerable commercial potential. However regions of Latin America and emerging economies of Asia-Pacific are major hotspots for global arthroscopic devices market. Technological advancement have brought rapid growth in the Europe and North America market.Asia-Pacific countries such as India and China have high growth rate due to low taxation, rise in disposable incomes and investment friendly environment accelerating the growth of arthroscopic devices market in Asia-pacific.
Global Arthroscopic Devices Market: Key Players
Some of the market participants in the global arthroscopic devices market are ConMed Corporation, Smith & Nephew, Arthrex Inc, Stryker Corporation and DePuy Synthes.
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