Arthroscopy Instruments Market Outlook
The Arthroscopy
Instruments Market Share is expected to reach USD 6.42 Billion by 2032 at
6.2% CAGR during the forecast period 2023-2032.
Arthroscope is a trusted and well-developed form of surgery
used by numerous surgeons and physicians throughout the world. This system has
a camera, a fiber optic light, a small lens, and a monitor that is inserted
into the patient's bones to inspect and treat the damaged region. This
technique is usually used to treat injuries to the knee, back, elbows, knees,
wrists, and ankles.
Key Players
Some of major the Arthroscopy Instruments Market Players
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.),
B. Braun (Germany),
Karl Storz (Germany),
Olympus (Japan),
Richard Wolf (Germany),
Medicon (Germany),
Sklar (U.S.),
GPC Medical (India),
Millennium (U.S.), and others.
Segmentation
The global Arthroscopy
Instruments Market Outlook 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.
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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