In 2023, the global arthroscopy procedure and products market is projected to be worth USD 6,860.8 million.
The growing prevalence of osteoarthritis (OA) in the elderly population and its growing use in sports medicine are driving the market’s growth, which is expected to reach a compound annual growth rate (CAGR) of more than 6.2% between 2023 and 2033.
The senior population’s growing predilection for arthroscopic operations, particularly in the US and Germany, is the reason for the significant growth in North America and Europe. Together, North America and Europe make up more than 77% of the world’s revenue.
Drivers:
- Advancements in arthroscopic imaging techniques, such as high-definition cameras and 3D visualization, improve the accuracy of diagnoses and surgical outcomes.
- Growing demand for minimally invasive procedures, as they offer benefits like reduced scarring, faster recovery, and shorter hospital stays.
- Increasing prevalence of joint disorders, including osteoarthritis and sports-related injuries, driving the need for effective arthroscopic interventions.
- Favorable reimbursement policies by insurance providers encourage healthcare providers to offer arthroscopic procedures.
Restraints:
- Rising competition from market players offering similar arthroscopic products and solutions.
- Striving to balance product quality and affordability to meet the varying needs of healthcare providers and patients.
- Adhering to stringent regulatory requirements and obtaining necessary certifications for product approval.
- Adapting to changing healthcare policies and reimbursement landscape may impact arthroscopy products’ profitability.
Opportunities:
- Investing in research and development to innovate and enhance arthroscopic devices, such as advanced surgical instruments and implants.
- Exploring untapped markets and expanding geographic presence to reach a wider customer base.
- Establishing strategic collaborations and partnerships with key stakeholders, including healthcare institutions and research organizations.
- Diversifying product portfolios to cater to emerging trends and specific needs, such as customizable implants and disposable arthroscopic instruments.
Trends:
- Integrating robotics and artificial intelligence in arthroscopic procedures enables greater precision and efficiency in surgical interventions.
- Utilization of 3D printing technology to create patient-specific implants, offering personalized solutions for better treatment outcomes.
- Adoption of virtual reality and simulation-based training for surgeons, enhancing their skills and reducing the learning curve.
- Increasing utilization of remote monitoring and telemedicine solutions for post-operative care, improving patient follow-up, and reducing healthcare costs.
Key Companies Profiled
Arthrex Inc.; CONMED Corporation; Johnson & Johnson; KARL STORZ GmbH & Co. KG; Olympus Corporation; Richard Wolf GmbH; Stryker Corporation; Others
Arthroscopy Procedure and Product Market by Category
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
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa (MEA)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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