Arthroscopy Devices Market valuation will reach USD 9.09 billion by the end of 2030
The Global Arthroscopy Devices Market size is estimated to be USD 4.89 billion in 2019 and is predicted to reach USD 9.09 billion by 2030 with a CAGR of 5.8% from 2020-2030. Arthroscopy Devices are generally used by the orthopedic surgeons for the examination of joint related problems. This helps in the diagnosis and treatment of the various disorders such as osteoarthritis, rheumatoid arthritis and others. These devices consist of small lenses for the magnification of joints and also consist of optical fibers to provide required light at the specific point for better evaluation.
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There has been constant increase in various joints and orthopedic disorders such as osteoarthritis, rheumatoid arthritis and others. Furthermore, increase in sports injuries, coupled with increase in joint replacement surgeries due to the constant increase in the geriatric population is expected to augment the growth of arthroscopy devices market over the forecast period.
The other factors such as developing healthcare infrastructure, increase in disposable income and increased demand of minimally invasive procedure are further expected to propel the market growth. However, high costs of these devices are expected to hamper the market growth in a long run. On the other hand, technological advancement and research and development activities are expected to promote the growth of arthroscopy devices over the forecast period.
Market Segmentations and Scope of the Study:
The global arthroscopy devices market share is analyzed on the basis of product, application, end user and geography. On the basis of product, the market is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency (RF) systems, visualization systems, powered shaver systems, and other arthroscopy equipment. The arthroscopic implants are sub segmented into Knee Implants, Hip Implants, Shoulder Implants, and Other Implants. The Radiofrequency (RF) Systems segment is further divided into RF Generators, Radiofrequency Probes & Wands, and Footswitch. On the basis of application, the market is divided into Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot & Ankle Arthroscopy, Shoulder & Elbow Arthroscopy, and Other. On the basis of end user, the market is divided into hospitals, ambulatory surgical centers, and orthopedic clinics. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America represents the develop market and hold the major market share over the forecast period owing to the increased adoption of advanced technology and advanced devices coupled with increased prevalence of orthopedic disorders and increase in sports injuries are expected to drive the growth of arthroscopy devices market.
Asia Pacific is expected to develop rapidly over the forecast period owing to the increase in geriatric population, developing healthcare facilities, increase in joint replacement surgeries and increase in minimally invasive surgeries are further expected to be major growth factors for the arthroscopy devices industry.
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The arthroscopy devices is highly competitive in nature and consists of various market players. Some of the major market players include Conmed Corporation, Arthrex, Inc., KARL STORZ GmbH & Co. KG, Johnson & Johnson, Richard Wolf GmbH, Medtronic, Plc, Stryker Corporation, Smith & Nephew, Plc, Zimmer Biomet Holdings, Inc., Wright Medical Group N.V., Bioventus, Active implants, Cannuflow, Inc., Breg, Flexion Therapeutics, DJO Global, Inc., NuOrtho Surgical, Inc., MinInvasive Ltd, OrthoSpace, and ROG Sports Medicine among others.
There have been various developments taking place in the arthroscopy devices which is further expected to anticipate the market growth. For instance, in August 2019, Arthrex announces FDA clearance of its Eclipse Total Shoulder Replacement System. The Eclipse system is a novel, less invasive, bone-preserving total shoulder replacement that has been clinically proven in Europe and Canada with more than 20,000 successful implantations over the past 14 years.