Arthroscopy Instruments Market Outlook
The Arthroscopy
Instruments Market Size is expected to reach USD 6.42 Billion
by 2032 at 6.2% CAGR during the forecast period 2023-2032.
The
Arthroscopy Instruments Market, closely tied to the field of orthopedic
surgical tools, is experiencing significant growth driven by advancements in
minimally invasive procedures and the rising prevalence of orthopedic
disorders. Arthroscopy, a minimally invasive surgical technique, utilizes
specialized instruments to diagnose and treat joint-related issues,
particularly in orthopedic settings. These instruments, including probes,
graspers, shavers, and arthroscopes, play a vital role in enabling precise and
effective procedures while minimizing patient trauma and recovery time.
The
demand for orthopedic surgical
tools within the arthroscopy instruments market is fueled by
several factors, including the increasing incidence of sports injuries and
age-related joint disorders such as osteoarthritis. Additionally, technological
innovations such as high-definition imaging systems and robotic-assisted
surgeries are enhancing the capabilities of these instruments, driving further
adoption among healthcare providers. Moreover, the growing emphasis on
outpatient procedures and the shift towards value-based healthcare models are encouraging
healthcare facilities to invest in arthroscopy instruments that offer greater
efficiency and cost-effectiveness. As the global population ages and the need
for orthopedic interventions rises, the market for arthroscopy instruments,
particularly those catering to orthopedic surgical needs, is poised for
continued expansion.
Segmentation
The
global Arthroscopy Instruments Market Research segmented on the basis
of product, application, and end-user.
- Based on the product, the market is
divided into arthroscopes, arthroscopic
implants, fluid management systems, visualization systems,
radiofrequency systems, power shavers, and others. In addition,
arthroscopic implants are segmented as knee implants, hip implants,
shoulder implants, and others. Radiofrequency systems are further segmented
as RF probes, RF generators, and wands and footswitches.
- On the basis of
application,
the market for arthroscopy instrument is divided into knee arthroscopy,
hip arthroscopy, foot and ankle arthroscopy, spine arthroscopy, shoulder
arthroscopy, and others (wrist and hand arthroscopy).
- On the basis of
end-user, the
market for arthroscopy instrument is segmented into hospitals, ambulatory
surgical centres, and others.
Key Players
Some
of major the Arthroscopy
Instruments Companies include are
Conmed
(U.S.),
Smith
& Nephew (U.K.),
Medtronic,
Inc. (U.S.),
Arthex
(U.S.),
DePuy
Synthes (U.S.),
Stryker
(U.S.),
Zimmer
Biomet (U.S.)
Braun
(Germany),
Karl
Storz (Germany),
Olympus
(Japan),
Richard
Wolf (Germany),
Medicon
(Germany),
Sklar
(U.S.),
GPC
Medical (India),
Millennium
(U.S.), and others.
Market Dynamics
A
variety of factors, such as growing preference for minimally invasive
procedures, increasing technological advancements, and improving the regulatory
environment, are fuelling the growth of the global market for arthroscopy
instruments. In addition, the rise in the incidence of sport-related
musculoskeletal disorders, such as a bone tumor, rheumatoid arthritis, and
osteoarthritis, is driving the development of this sector. The World Health
Organization estimates that the prevalence of rheumatoid arthritis is between
0.3% to 1% and is more severe in women and developed countries. In addition,
the projection also indicates that 9.6% of men and 18.0% of women over 60 years
of age have osteoarthritis.
Despite
these factors, the rising cost of arthroscopy instruments, the challenges of
reimbursement in the medical device industry, and the weak healthcare system in
low and middle-income countries may hinder the market growth. As stated in
National Center for Health Statistics in the United States, nearly 650,000
arthroscopic lavage and debridement procedures are conducted annually for knee
pain at an average cost of USD 5,000 each.
Regional Analysis
Geographically,
the global Arthroscopy Instruments Market Report has been segmented into the
Americas, Europe, the Asia Pacific, and the Middle East and Africa.
The
Americas dominates the global market for arthroscopy instruments due to the
presence of significant players in the industry, the high rate of adoption of
minimally invasive devices and the rising incidence of joint-related diseases
are boosting the market growth in this area. However, according to the American
Orthopedic Society for Sports Medicine in the United States, an estimated 4
million individuals undergo knee arthroscopies, although the number of patients
undergoing shoulder arthroscopies is 1.4 million each year. In addition,
growing cases of arthroscopic surgery, along with rising health awareness, are
driving the growth of the demand for arthroscopic instruments.
Europe
is the second-largest arthroscopic instrument market in the world. Government
support for research and development spending and increasing prevalence of bone
disorders is expected to drive the European market. In fact, according to
Arthritis Research U.K., around 10 million people had a form of arthritis in
the U.K. in 2016. In addition, it has been projected that over 86,000 hip
replacements and over 90,000 knee replacements take place every year.
The
Asia Pacific is the fastest-growing region in the global market for instruments
for arthroscopy due to a vast patient pool, rising demand for minimally
invasive surgeries, and the advancement of healthcare technology. According to
Osteoporosis Australia, about 4.74 million Australians over the age of 50
suffer from either poor bone health or osteoporosis, which further fuel the
need for arthroscopy surgery. Healthcare spending has been increased in
different regions of the Asia Pacific. Moreover, the availability of qualified
physicians and nurse practitioners and the low cost of surgery have fuelled
medical tourism in India. Most main players are expanding their business in
emerging economies in the Asia Pacific region.
The
Middle East & Africa has the lowest market share in the world due to low
growth, lack of technical expertise, and weak medical facilities.
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