In a significant forecast, the global arthroscopy procedure and products market sales is poised to command a substantial worth of US$ 6,860.8 million in 2023, driven primarily by the increasing prevalence of osteoarthritis (OA) among the elderly. This surge in market revenue is projected to sustain a commendable Compound Annual Growth Rate (CAGR) exceeding 6.2% from 2023 to 2033.
The growth trajectory remains notably strong in North America and Europe, where the ageing population’s growing preference for arthroscopic procedures, particularly in the United States and Germany, fuels continued expansion. Together, North America and Europe account for more than 77% of the global revenue, underscoring the pivotal role these regions play in propelling the arthroscopy market to new heights. As the industry leverages advancements in medical technology and responds to the rising demand for effective osteoarthritis treatments, the future holds promising prospects for sustained growth and innovation.
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Key Takeaways:
- In terms of procedure type, knee arthroscopy will account for over 50% of the global market share
- Arthroscopic implants segment will account for highest share of the arthroscopy procedures & products market during the forecast period
- The U.S. will emerge as the most lucrative market backed by the rising prevalence of degenerative disease among the geriatric population
- Germany and the U.K., collectively, will emerge as the most lucrative market across Europe in the upcoming decade
- Japan is anticipated to emerge as a lucrative market backed by the high prevalence of rheumatoid arthritis and osteoarthritis among elderly
“Increasing prevalence of osteoarthritis and growing degenerative disease among elderly population have encouraged the leading players to engage in research & development activities to develop advanced procedure & instrument for non-invasive surgeries,” says the FMI analyst.
The prevalence of knee osteoarthritis in the senior population is rising, and there are more knee arthroscopies being performed globally, which has boosted market growth. Growth is being fueled by expanding applications in sports medicine and simple regulatory approval processes like those used by the US Food & Drug Administration.
Patients with severe osteoarthritis are favouring knee arthroscopy because to its non-invasiveness and benefits, which is propelling market growth.
The adoption of knee arthroscopy surgeries in the U.S., Germany, the UK, and China has been prompted by the rising prevalence of osteoarthritis in those countries.
Healthcare professionals and the government are expanding their efforts to provide rehabilitation and amenities in order to reduce the additional expense in light of the rising figures. Based on these variables, the market is expected to expand at a rate of over 7.7% CAGR between 2021 and 2031.
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The market’s expansion could be hampered by the rising danger of edoema and other illnesses such blood clots in the joints. Additionally, high surgical and treatment costs in developing nations like Brazil, India, and other Latin American nations would restrain market expansion.
Key Takeaways:
- In terms of procedure type, knee arthroscopy will account for over 50% of the global market share
- Arthroscopic implants segment will account for highest share of the arthroscopy procedures & products market during the forecast period
- The U.S. will emerge as the most lucrative market backed by the rising prevalence of degenerative disease among geriatric population
- Germany and the U.K., collectively, will emerge as the most lucrative market across Europe in the upcoming decade
- Japan is anticipated to emerge as a lucrative market backed by the high prevalence of rheumatoid arthritis and osteoarthritis among elderly
“Increasing prevalence of osteoarthritis and growing degenerative disease among elderly population have encouraged the leading players to engage in research & development activities to develop advanced procedure & instrument for non-invasive surgeries,” says the FMI analyst.
Competitive Landscape:
Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.
New product launches coupled with increasing research & development activities for the development of advanced arthroscopy instruments & devices will also be one of the key strategy to enhance their customer base for market players.
For instance, couple of years back, leading player, Smith & Nephew entered into a distribution agreement with OrthAlign, a U.S. based private company to develop medical devices and distribute their Total-Knee Arthroplasty (TKA) technology across several countries in Africa and Middle East.
Also, in 2018, Ceterix® Orthopedics, Inc., a leader in the development of cutting-edge surgical tools for orthopedic surgeons announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of NovoStitch® Pro Meniscal Repair System – a size 0 suture cartridge – offering surgeons more options to repair meniscal tears for arthroscopic surgeries.
Key Companies:
- Arthrex Inc.
- CONMED Corporation
- Johnson & Johnson
- KARL STORZ GmbH & Co. KG
- Olympus Corporation
- Richard Wolf GmbH
- Stryker Corporation
- Others
Key Segments:
By Product Type:
- Arthroscopes and Visualization Systems
- Arthroscopic Resection Systems
- Arthroscopic Fluid Management Systems
- Arthroscopic Implants
- Knee Implants
- Shoulder Implants
- Hip Implants
- Other Implants
- Arthroscopy Radiofrequency (RF) Systems
- Arthroscopic Drills and Fixation Systems
- Other Arthroscopy Instruments and Accessories
By Procedure Type:
- Shoulder Arthroscopy
- Hip Arthroscopy
- Knee Arthroscopy
- Elbow Arthroscopy
- Small Joints Arthroscopy
- Others
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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