The global Arthroscopic Devices market was valued at USD 4,905.4 Million in 2023 and is expected to reach USD 7,866.4 Million by the year 2032, at a CAGR of 6.00%. Arthroscopic devices are used by the surgeons or the physicians to observe and examine the joints from inside. The visualization system involves a camera attached to the arthroscopes and a monitor giving the visual information inside the joints. The small cut is made on the skin portion from where the lens is to be inserted and the light accompanying it to get clear visual data of the requisite region. Observing and inserting the implants can be carried out using this procedure and is hence called Arthroscopic.
Generally, Arthroscopic is carried out for musculoskeletal disorders. For instance, arthritis (pain or inflammation in a particular section of the body), which involves either rheumatoid arthritis or osteoarthritis. According to the Centre of Disease Control and Prevention, from 2013–2015, nearly 54.4 million US adults (22.7%) annually suffer from some form of arthritis, rheumatoid arthritis, gout, lupus, or fibromyalgia. The major drivers of the arthroscopic devices segment are the traction in the geriatric population, growing accident rates in recent years. According to WHO, nearly 1.25 million people die in road crashes each year and about 3,287 deaths are observed every day. Furthermore, the spending capacity of the generation has now increased, which is owing to the growth of arthroscopic devices during the forecast period.
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The advancements in the technology which involves minimally invasive procedures for the treatment of such diseases would boost the sales of such devices. For instance, the Arthroscopic Implants are developed in such a way that they can be autoclaved before use. This innovation has ensured a promising growth for the use of implants. The government initiatives, improved diagnostic facilities, the rising awareness amongst the geriatric population towards a better quality of life will further propel the growth in this segment. One of the major challenges is the efficacy of the implants, which are most susceptible to cause infection if not handled properly, resulting in product withdrawal. However, post-surgical complications, lack of skilled IT personnel in the Health Care Setting, stringent government regulation still remain a major market constraint, and it is expected to hamper the growth in the near future
Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2023-2032 has been utilized as historical data, 2023 as the base year, and 2023-2032, has been derived as forecasts
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Arthroscopic Devices Market
- The evolution of autoclave-able implants for Arthroscopic has attracted many companies to invest for the production, as it solves the problem of infections which earlier were caused due to improper disinfection of the implants. Additionally, the facts regarding the Surgical Site Infection (SSI) is that the incidences of SSIs may be as high as 20%, depending on the surgical procedure, the surveillance criteria used and the quality of the data collection.
- The challenge faced in the Arthroscopic for the geriatric population is to extensively carry out least invasion during surgery. The awareness of the need led to the innovation of devices that allow minimal injury during the surgical procedure. The statistics given by WHO suggests that the proportion of world’s population over 60years will nearly double from 12% to 22% between 2015 and 2050.
- In recent years, Smith & Nephew acquired Ceterix orthopedics in order to inflate its product portfolio on NovoStitch Pro Meniscal Repair System, which is a knee repair device, and take advantage of the rising demand.
- The most sensitive region of the body is the spinal chord, the impairment in such region can be resolved by using spinal Arthroscopic. The recent advancements in the visualization of such crucial region, was to make a compact arthroscope which would allow least invasion and hence overcome the challenge involved with the surgery.
- The key players are focusing on various strategic initiatives. For instance, in November 2023 Stryker Corporation announced multi-year partnership with Indo UK Institute of Health to distribute reasonably priced arthroscopic care in India.
- Favorable funding scenario in research and development will help improve disease monitoring and help facilitate the development of medicines and therapy. Moreover, new imaging technologies, diagnostics to more effectively measure the status and progression in the field of orthopedic conditions are some of the key factor which are expected to fuel the growth of this sector in the forecast period.
Companies considered and profiled in this market study
The global Arthroscopic Devices industry study suggests key players which includes Smith & Nephew, DePuy Synthes, Stryker, Arthrex, ConMed, Zimmer Biomet, Medtronic, Karl Storz, Olympus, Richard Wolf, MEDICON, Sklar, Millennium, GPC Medical, and Johnson & Johnson.
Market-O-Nomics
- The North America held a market share of 39.2% in the year 2023. High level of R&D in the region and increase in the spending capacity are propelling the growth of the market.
The awareness towards health care is also one of the parameter that allows the growth of the Arthroscopic Devices during the forecast period.
- Arthroscopic Implants held a share of 30.8% from global economy in the year 2023. The segment is further expected to grow at the rate of 5.9%, owing it to the rising demand for effective early diagnostic methods and curative procedures offered.
- Due to increase in prevalence of sports related injuries, Europe held the market share of 27.5% in the year 2023 with a CAGR of 5.9% during the forecast period.
- Increasing demand for early disease diagnosis and initiatives taken by the governments for geriatric population in the region will fuel the market growth in APAC.
- The global Arthroscopic Devices industry is seen to account for about 33.7% of the shares by the Arthroscopes segment due to the increase in the demand for the minimally invasive techniques.
- The rising technological advancements in therapy of the rheumatoid and osteoarthritis, is fueling the growth of this industry which gives a CAGR of 6.00% in the coming years as predicted.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this study,have segmented the Arthroscopic Devices sector on the basis of type, application, end-use and region:
Type Outlook (Revenue in Million USD; 2023–2032)
- Arthroscopes
- Arthroscopic Implants
- Radiofrequency Probes and Wands
- Fluid Management System
- Motorized Shavers
- Visualized Systems
- Others
Application Outlook (Revenue in Million USD; 2023–2032)
- Shoulder Arthroscopic
- Knee Arthroscopic
- Spine Arthroscopic
- Others
End-Use Outlook (Revenue in Million USD; 2023–2032)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue in Million USD; 2023–2032)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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