The global handheld arthroscopic instruments market according to our latest analysis, the market, valued at USD 3.3 billion in 2023, is projected to rise at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033, reaching an estimated worth of USD 5.2 billion by the end of 2033.
The demand for specialized hand instruments is on the rise, driven by various factors including technological advancements, increasing surgical procedures, and the growing need for precision and efficiency in medical interventions. Physicians and surgeons rely heavily on specialized hand instruments to perform intricate procedures across a wide range of medical specialties, including orthopedics, neurology, and cardiovascular surgery.
Handheld arthroscopic equipment play a crucial role in minimally invasive orthopedic operations since they enable surgeons to precisely visualize and treat joint-related diseases while minimizing tissue damage. These instruments comprise a range of specialized tools like graspers, probes, shavers, and arthroscopes that are required to execute arthroscopy procedures.
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The market for handheld arthroscopic equipment is expected to rise due to the increasing incidence of sports injuries and musculoskeletal problems, as well as the growing use of minimally invasive surgical methods. The demand for cutting-edge handheld devices is being driven by healthcare professionals’ increased use of arthroscopy operations in response to patients’ desire for less intrusive treatment choices with faster recovery times.
Benefits of Arthroscopy
When compared to conventional open operations, arthroscopic techniques have various benefits. Patients who undergo minimally invasive procedures usually experience shorter recovery periods and less discomfort following surgery. As a result, many patients and surgeons prefer arthroscopy since it allows for a quicker return to regular daily activities.
The Future of Arthroscopy
The arthroscopic surgical scene is constantly changing, as seen by the growing requirement for sophisticated hand devices. We may anticipate more developments in instrument functionality and design as the market grows. This opens the door for a future in which arthroscopy plays an increasingly important role in the diagnosis and treatment of joint problems, especially when combined with the inherent advantages of minimally invasive treatments.
Market Competition:
Among the leading companies in the worldwide market for portable arthroscopic instruments are Tornier N.V., Zimmer Biomet, Arthrex, Smith & Nephew, Karl Storz, and Stryker.
Because the major players are present, the market is quite competitive. Global giants like Stryker, Karl Storz, and Smith & Nephew represent a sizeable portion of the market, while a number of regional businesses are also active in important growing areas, most notably Asia Pacific.
- In June 2022 – Stryker announced the opening of its new research and development facility, Stryker’s Global Technology Centre (SGTC), at the International Tech Park, Gurgaon. The facility is estimated to help accelerate innovation in India and globally and further support the company’s mission to improve healthcare.
- In May 2022, Karl Storz inaugurated the construction of the new production buildings Take Off (TO) 85 and 87 in Germany. With this project, the company intends to widen its manufacturing capabilities in the Tuttlingen region, paving the way for ultra-modern workplaces. The expansion project is also estimated to enhance the company’s capacity to produce arthroscopic instruments, among other product offerings.
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Handheld Arthroscopic Instruments Market by Segmentation:
By Product Type:
- Knives
- Graspers
- Scissors
- Others
By Application:
- For Knee Surgery
- For Shoulder Surgery
- For Hip Surgery
- For Others
By End User:
- For Hospitals
- For Ambulatory surgical centers (ASCs)
- For Specialty Clinics
By Region:
-
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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