[150 Pages Report] Arthroscopy Devices Market size was valued at US$ XX million in 2021 and is expected to reach US$ XX million by 2029, growing at a CAGR of 9% during the forecast period (2022-2029).
Arthroscopy Devices Market - Strategic Insights
By Product Type, By Application, By End User, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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Arthroscopy is a process for diagnosing and treating joint problems. Surgeon uses arthroscopy devices that insert a narrow tube attached to a fiber-optic video camera through a small incision about the size of a buttonhole. The view inside the patient's joint is transmitted to a HD video monitor.
The global arthroscopy devices market is driven by technological advancements, increased adoption of arthroscopy devices in surgeries, and rising healthcare expenditure.
The rising burden of musculoskeletal disease worldwide drives the market growth
Musculoskeletal conditions are the main reason for disability worldwide, with low back pain being the single foremost cause of disability in 160 countries. According to the World Health Organization (WHO), in July 2022, around 1.71 billion people had musculoskeletal conditions worldwide. Because of population growth and aging, the number of people living with musculoskeletal conditions and associated functional limitations is increasing rapidly.
In addition, rehabilitation is efficacious in decreasing pain, building muscle strength, and enhancing physical mobility and functional ability in individuals with musculoskeletal disorders. Furthermore, rehabilitation plays a central role in reducing hospitalization and healthcare costs. According to the report from the WHO, rehabilitation is a crucial health resource provided to the whole population, and it is an essential part of attaining universal health coverage.
The heavy burden of musculoskeletal disorders and their health outcomes necessitate additional efforts to provide rehabilitation services appropriately. The prevalence of musculoskeletal conditions grows with age, and younger people are also affected, often during their peak income-earning years. Also, musculoskeletal disorders are a major occupational health problem among healthcare workers, and the majority is particularly high among nurses. The rising number of patients with musculoskeletal conditions drives the arthroscopy device market worldwide.
The high cost of arthroscopy devices will hamper the growth of the market
However, limitations of arthroscopy are the costs of the specialized devices and the necessary expansive training to gain expertise in the procedure. The stifle, shoulder, and elbow joints are routinely inspected and treated by arthroscopy. Less frequently accessed joints are the tarsus, hip and carpus.
COVID-19 Impact Analysis
The appearance of COVID-19 negatively impacted the global arthroscopy devices market. As per the article published in the Journal of Arthroscopy and joint Surgery in June 2020, the number of orthopedic injuries has seen a sharp fall during this time. Most surgical facilities were also closed at this time. Many patients shifted towards telemedicine as an essential medium of providing continued care to patients during COVID-19. Also, conservative approaches were preferred for most patients with ligament injuries, and alternative procedures requiring less operating room were explored. More surgeries were postponed to a safer time frame when the population's transmission of the COVID-19 virus has declined. When surgeries are resumed, arthroscopy procedures need to be triaged from more important or urgent to less important ones. Elective surgical procedures should preferably be started with patients with no co-morbidities and a lesser risk of peri-operative complications.
As of 2022, the situation is recovering from COVID-19, all healthcare facilities are opening, and patients can easily access the suitable therapies that drive the market globally.
The arthroscopy instruments and accessories segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The arthroscopy instruments and accessories segment accounts for the largest market share. Arthroscopic surgical instruments are developed to facilitate cutting and trimming with ergonomic designs and balanced weight. They are used in hand, hip, knee, shoulder, and other small joint procedures.
The market players are offering arthroscopy instruments and accessories in the market. For instance, Smith & Nephew (Arthrocare) FIRST PASS 22-4035 is produced for consistent and secure suture passing. Pass and retrieve the suture simultaneously with FIRST PASS. This suture management instrument is designed for one-handed use and can be assembled/disassembled using minimal steps.
In addition, Arthrex has revolutionized arthroscopic procedures worldwide. In the product portfolio, arthroscopes, arthroscopic sheath systems, competitive bridges, cameras, and cannulas make arthroscopy easier, more effective, and more efficient. Part of the SynergyUHD4 imaging system, these state-of-the-art devices make Arthrex imaging products the clear choice in orthopedic surgery.
North America region holds the largest market share of the global Arthroscopy Devices market
North America dominates the market for arthroscopy devices and is anticipated to show a similar trend in the coming years. The market is propelled by factors such as advanced healthcare infrastructure—the increasing number of arthroscopies, active regional key players, and easy availability of regional products.
As per the Burden of Musculoskeletal Diseases in the United States (BMUS), musculoskeletal diseases impact more than one out of every two persons in the United States aged 18 and over and nearly three out of four aged 65 and over. Trauma, back pain, and arthritis are the three most familiar musculoskeletal conditions notified, and for which healthcare visits to physicians’ offices, emergency departments, and hospitals occur every year.
In addition, the key players are offering a broad range of product portfolios in the North American region. For instance, Stryker provides fluid management, and resection Stryker’s Integrated Arthroscopy Solution utilizes ReconiSense technology designed to optimize suction rates, enhance resection abilities, and maintain consistent visualization throughout Arthroscopic cases.
The Conmed offers arthroscopy devices for the shoulder, knee, hip, hand and wrist arthroscopy. The company offers Glass 4K Integrated Visualization System, Crystal view Pro Fluid Management System, Stealth Diamond-like Carbon Coated Blades, and Edge Bipolar Arthroscopic RF System.
The arthroscopy devices market is a moderately competitive presence of local and global companies. Some of the key players contributing to the market's growth are Arthrex, Stryker Corporation, Conmed, DePuy Synthes, Smith & Nephew, Karl Storz GmbH & Co.KG, Olympus America Inc., Vimax Sp. Z.o.o., Wright Medical Group N.V., and Richard Wolf GmbH, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the arthroscopy devices market globally.
Arthrex is a global medical device company founded in 1981 focusing on new product development and medical education in orthopedics. the company is helping surgeons treat their patients better. The company has pioneered the field of arthroscopy and produces more than 1,000 innovative products and procedures every year.
Alternative Bridge Systems: The bridge system is a type of arthroscopy accessory used to help maintain portals with metal cannulas. A typical bridge user will have two cannulas placed in the joint, one viewing portal and one working portal. The cannulas feature a J-Lock-type connection to the bridge, which permits quick and easy portal changes. The Arthrex shaver blades screw into the cannulas to make a seal which helps maintain distention in the joint.
The global arthroscopy devices market report would provide access to approximately 55+ market data tables, 55+ figures, and in the range of 200+ (approximate) pages.
What is the Projected CAGR value of the Arthroscopy Devices Market?
Arthroscopy Devices Market is expected to grow at a CAGR of 9% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls theArthroscopy Devices Market during 2022-2029
Which is the fastest growing regions in the Arthroscopy Devices Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period