The global arthroscopy market size was USD 4.86 Billion in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period. Growing prevalence of joint issues and sports-related injuries, rising use of arthroscopy as a tool for treating various knee-joint surgery, hips, and shoulder injuries, and ongoing investments in technological advancements in arthroscopic approaches and diagnostic orthopedic are key factors driving revenue growth of the market.
Arthroscopy is a medical process, through which doctors can easily diagnose and detect issues with joint pain and treat such problems and reduces mortality as well as hospitalization time following orthopedic surgery. Arthroscopy devices have a camera, which helps to find any issues in bones or joins such as rheumatoid arthritis, osteoarthritis, bone tumor, and tendinitis. These devices have the ability to work with sharper and crisper images, hence its easier for surgeons to execute these procedures. For instance, arthroscopy is used for surgical treatments on shoulders, elbows, forearms, ankles, hips, and feet but is increasingly being used for knees. Research and Development (R&D) has been conducted to comprehend and validate effectiveness of arthroscopy procedures for treatment of degenerative joints. Arthroscopy treatments have developed from diagnostic tools to therapeutic instruments that may cure various illnesses and injuries while enabling quicker return to full function. Almost all arthroscopic treatments may be carried out in outpatient settings, which is anticipated to further increase patient and healthcare professional preference for it.
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Arthroscopic surgeries are minimally invasive, which allows for direct visualization of all intra-articular structures and can be used to identify and treat knee abnormalities, making it one of the most popular orthopedic procedures worldwide. Compared to open surgery, arthroscopic procedures employ fewer incisions and offer better visualization with less morbidity. Arthroscopy is a generally low-risk procedure with a 1% or a lower rate of complications. Several minimally invasive procedures have been developed owing to healthcare industry’s constant focus on technological advancements over the past years, which has led to replacement of traditional and invasive orthopedic surgical procedures with arthroscopic procedures. Furthermore, introduction and integration of Ultra-High Definition (UHD) 4K technology in cameras of surgical equipment is one of the most remarkable breakthroughs in arthroscopy vision.
Provision of medical treatment to non-COVID patients, notably orthopedic and trauma cases, has deteriorated severely worldwide due to COVID-19 pandemic. It was discovered that outpatient attendance decreased by 71.93%, hospitalizations decreased by 59.35 and surgery decreased by 55.78%. All non-urgent treatments and surgeries were postponed during early stages of pandemic since most resources were dedicated to treating acute medical emergencies. However, once infections were under control, surgical activities, including arthroscopic surgery, gradually resumed. The European Society of Sports Traumatology, Knee Surgery, and Arthroscopy has advised that return to elective surgery should be gradual and cautious and that the procedure should ideally be carried out in a COVID-free institution with a brief hospital stay. Elective procedures should be delayed for a minimum of eight weeks, or until a full recovery, at the first sign of COVID symptoms. Currently, it appears that people receiving arthroscopic or minimally invasive surgery may present lowest risk to both patients and doctors.
Market Dynamics:
Driver: Increasing frequencies of sports-related injuries and rising popularity of minimally invasive treatment methods
Arthroscopy is a less invasive procedure that has completely revolutionized how joint injury is treated and mended. Numerous advantages of arthroscopy include smaller incisions, less trauma and damage to connective and soft tissues, quicker healing and recovery, lower risk of complications and infections, and less post-operative discomfort. It can also be done as an outpatient surgery, which is increasing number of patients who prefer arthroscopy surgeries compared to traditional orthopedic surgeries. Rapid improvements in arthroscopy techniques will lead to innovative ways to detect and treat joint and musculoskeletal problems, which is driving market revenue growth.
Moreover, rising sports, fitness programs, road accidents, and other physical activities is increasing injury rate. Arthroscopy is increasingly preferred by sportsmen over standard surgeries owing to advantages such as decreased risk of muscular injury and quicker recovery and rehabilitation. For instance, according to Stanford Children Health data, around 30 million kids play organized sports in the U.S. each year, leading to 3.5 million injuries. Every year, over 775,000 kids need medical care for injuries sustained in both recreational and dangerous sports. Rising prevalence of arthritis among geriatric population globally is increasing favorable reimbursement policies in both developed and developing countries, which is improving global healthcare infrastructure. These factors are anticipated to drive revenue growth of the market.
Restraint: Complications associated with arthroscopy procedure, high cost, and stringent regulations
Arthroscopic operations are low-risk and less likely to result in complications. However, this surgery is also accompanied by some risks, same as those associated with other noninvasive operations. Low adoption of arthroscopic procedures can be caused by several factors, such as equipment malfunction, vascular injuries, anesthesia issues, and rising prevalence of other complications such as hemarthrosis, nerve injury, septic shock, deep vein thrombosis, arterial injury, and metabolic complications, which are major factors hampering market revenue growth. Compared to open surgery, arthroscopic techniques help to reduce morbidity, but they are fundamentally risky and complicated. Some other issues that could limit market growth include rising risks of heavy bleeding, allergic reactions to arthroscopic instruments, potential increases in time and expense, and major potential damage to cartilage and joints. In addition, high costs associated with arthroscopy surgeries and treatment and stringent regulations and manufacturing issues are other factors restraining revenue growth of the market. Rigorous Food and Drug Administration (FDA) guidelines and rising frequency of recalls result from product failures, component discrepancies, or concerns about compromised sterility. While, inadequate storage conditions and major defects in manufacturing procedures also raise danger of contamination and can lead to patient infection.
However, various arthroscopy-related risks, including nerve damage, infection and metabolic issues, anesthetic issues, and other difficulties, are other factors hampering revenue growth of the market.
Some Key Takeaways:
Type Outlook:
Based on type, the global arthroscopy market has been segmented into arthroscope, implants, visualization systems, radiofrequency devices, arthroscopy shavers, fluid management, and others. the arthroscope segment accounted for largest revenue share in 2021 due to improvements in arthroscope technology, such as UHD 4K camera quality, advances in laser devices, and advent of guidance devices, that increase procedure’s efficiency and safety and lower danger of harm to nearby tissues or organs. Effectiveness of arthroscopy surgeries is being improved by introduction of specialized equipment including flexible and movable thermal probes, additional cannulas, and implants. Furthermore, introduction of video arthroscopy and ongoing technical improvements are some other factors expected to drive revenue growth of this segment.
Application Outlook:
Based on application, the market is segmented into knee, joints, spine, shoulders, hip, wrists, and others. The knee segment is expected to register largest revenue CAGR due to increasing frequency of knee pain, rising anterior cruciate ligament injuries, and quick progress in knee arthroscopic surgery. Precision, preservation, regeneration, and multiple surgeries of knees have been made possible by technological improvements in optical technology, equipment, and implants. With these developments, exact restoration of anatomy is made possible along with highly effective approaches for restoration, repair, and regeneration. Moreover, increased focus on application of stem cells, ortho biologics, and patient-specific autogenous stem-cell implants to restore anatomy is also driving revenue growth of this segment. Treatment of ligament, meniscus, and articular cartilage lesions in the knee has advanced quickly due to a fuller understanding of anatomy and biomechanics of knee.
End-Use Outlook:
Based on end-use, the market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment accounted for largest revenue share in 2021. This is due to rising availability of qualified, skilled, and experienced surgeons, increase in admissions for hip and knee injuries, sports injuries, and other accidents, presence of state-of-the-art outpatient facilities, and rising development of network of arthroscopic surgery hospitals across the globe. Furthermore, rising adoption of advantageous reimbursement policies, accessibility of cutting-edge outpatient surgery centers, and cost-effective treatments are some other factors driving revenue growth of this segment.
Regional Outlook:
Based on regional analysis, the North America market accounted for largest revenue share in 2021 due to rapid technological improvements in arthroscopic treatments and arthroscopic devices made by key firms operating in regional countries. In addition, rising incidence of musculoskeletal diseases, sports injuries, and arthritis and presence of important associations, such as Arthroscopic Association of North America, which focuses on speeding research around arthroscopic procedures, are some other factors driving revenue growth of the market in this region. For example, The Fellowship Education Improvement and Innovation Grant Program was established by American Association of Hip and Knee Surgeons and is supported by a USD 1.25 million grant from founding sponsor Zimmer Biomet. According to Harvard Health Publishing, around 750,000 arthroscopic knee procedures are carried out annually in the U.S., which costs approximately USD 4 billion. In 2020, osteoarthritis was diagnosed in over 30 million Americans, 10% of whom were men over the age of 60. Moreover, rising innovations from startup companies is also driving market revenue growth. For example, ArthroFree Wireless Surgical Camera System, the first camera system to get FDA clearance for arthroscopy and general endoscopy, was created by Minnetronix Medical, a business that specializes in medical device innovations.
The Asia Pacific market is expected to register fastest revenue CAGR owing to increasing geriatric population suffering from knee-joint problems. According to World Health Organization (WHO), one in six individuals will be 60 or older by 2030. By this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020. In addition, number of people on globe who are 60 years or older will double by 2050, which is expected to drive market growth. Manufacturers in this region are developing novel arthroscopic devices that can be used to diagnose and treat growing number of musculoskeletal problems that impact locomotor system, including muscles, joints, bones, and associated tissues. These conditions include osteoarthritis, rheumatoid arthritis, back and neck discomfort, and bone fragility.
The Europe market accounted for second-largest revenue share in 2021. European countries are highly developed in terms of infrastructure and technologies, which is expected to drive market growth. Several arthroscopies have facilities to do these procedures in office settings, making arthroscopic procedures more affordable that can also be done in clinical settings. Primary benefits of arthroscopic treatments, such as reduced comorbidity, faster recovery time, and ensuing socio-economic benefits, are some other factors driving market revenue growth.
Competitive Landscape:
Competitive landscape of the global arthroscopy market is fragmented with small, medium, and large companies operating on global and regional levels. Major companies are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footprint in the global market. Some major companies in the market report include Arthrex, Inc., Smith+Nephew, Stryker, CONMED Corporation, Olympus Corporation, Richard Wolf GmbH, Medtronic plc., B. Braun SE, Zimmer Biomet, and Pacira BioSciences, Inc.
Some recent developments are as follows:
- On 8 November 2022, Portescap, a leading developer of small motion solutions launched the B0614A4, which is the newest generation of arthroscopic joint shaver Gearmotor. This new motor design is one of the most cutting-edge options for arthroscopic shavers, combines Portescap’s 25 years of experience in surgical motor solutions with cutting-edge technical features to produce a highly reliable motion solution that doesn’t sacrifice power density, speed, or autoclavability. B0614A4 can run at speeds of up to 14,000 RPM, which is a 100% increase in speed over the previous version. With a weight of just 106 grams, motor’s lightweight and ergonomic design makes it easier to handle the product, reduces surgeon hand fatigue and improves productivity.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country-level, and provides analysis of the market trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data has segmented the global arthroscopy market based on type, application, end-use, and region:
Global Arthroscopy Market Report Scope
Segments covered By Type Outlook, Application Outlook, End-Use Outlook, Regional Outlook
By Type Outlook
Arthroscope
Implants
Visualization Systems
Radiofrequency Devices
Arthroscopy Shavers
Fluid Management
Others
By Application Outlook
Knee
Joints
Spine
Shoulders
Hip
Wrists
Others
By End-Use Outlook
Hospitals & Clinics
Ambulatory Surgical Centers
Others
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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