The global arthroscopy devices market is witnessing significant growth due to the increasing prevalence of musculoskeletal conditions like rheumatoid arthritis, bone tumors, osteoarthritis, and tendonitis, along with a rising number of sports injuries. Arthroscopy devices play a crucial role in diagnosing and treating these conditions, driving their demand in the market. As the need for minimally invasive procedures rises, manufacturers are introducing innovative arthroscopy devices to cater to the growing demand. The global arthroscopy devices market is expected to witness continued expansion as healthcare providers seek advanced solutions for joint-related medical issues.
According to Data Bridge Market Research, the Global Arthroscopy Devices Market was valued at USD 5.57 billion in 2021 and is expected to reach USD 11.35 billion by 2029, registering a CAGR of 9.3% during the forecast period of 2022 to 2029.
“Rise in the prevalence rate of musculoskeletal diseases facilitate market growth”
The rise in the prevalence rate of musculoskeletal diseases is a key driver of the global arthroscopy devices market. Musculoskeletal conditions, such as osteoarthritis, sports injuries, and rotator cuff tears, are becoming increasingly common, leading to a growing demand for minimally invasive surgical procedures like arthroscopy. Arthroscopy offers precise diagnosis and effective treatment options for such conditions, leading to quicker recovery times and reduced post-operative complications. The increasing burden of musculoskeletal diseases worldwide fuels the demand for arthroscopy devices, propelling the market's growth in response to the rising healthcare needs.
What restraints the growth of global arthroscopy devices market?
“High cost associated with arthroscopy devices”
The high cost associated with arthroscopy devices is a significant restraint for the global arthroscopy devices market. The expensive nature of these devices can pose financial challenges for healthcare providers and patients alike, limiting their adoption and accessibility in certain regions. Additionally, cost constraints may deter healthcare facilities from investing in the latest technologies, potentially hindering the market's growth. Addressing the affordability issue and providing cost-effective solutions will be essential to overcome this restraint and ensure broader market acceptance of arthroscopy devices.
Segmentation: Global Arthroscopy Devices Market
The arthroscopy devices market is segmented on the basis of product, application and end user.
- On the basis of product, the arthroscopy devices market is segmented into barthroscopic implants, arthroscopes, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopy equipment.
- On the basis of application, the arthroscopy devices market is segmented into knee arthroscopy, hips arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, others arthroscopy applications.
- On the basis of end user, the arthroscopy devices market is segmented into hospital, ambulatory surgical centers, clinics, others.
Regional Insights: North America dominates the Global Arthroscopy Devices Market
North America dominates the arthroscopy devices market owing to the region's increasing adoption of advanced technology and the presence of major market players. The well-established healthcare infrastructure in North America further accelerates market growth. The availability of cutting-edge medical technologies and a high demand for minimally invasive procedures contribute to the region's dominant position in the arthroscopy devices market.
In Asia-Pacific, the market is expected to grow significantly during the forecast period, primarily driven by the growth of medical tourism in the region. The presence of prominent players operating in developing markets and an increasing patient pool are key factors propelling market growth. As healthcare facilities improve and patient awareness about minimally invasive procedures rises, the adoption of arthroscopy devices is expected to increase in Asia-Pacific, contributing to its growth trajectory.
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Recent Developments in Global Arthroscopy Devices Market
- In December 2021, Healthium Medtech launched Arthroscopy product manufacturing facilities in Ahemdabad. These facilities are dedicated to producing advanced Arthroscopy products used in the treatment of knee and shoulder conditions, such as anterior cruciate ligament reconstruction and posterior cruciate ligament injuries. The state-of-the-art manufacturing facility aims to meet the growing demand for high-quality medical devices and offer effective solutions for patients with orthopedic issues.
The Prominent Key Players Operating in the Global Arthroscopy Devices Market Include:
- Arthrex (U.S.)
- Smith+Nephew (U.K.)
- Medical Device Business Services, Inc., (U.S.)
- Stryker (US)
- CONMED Corporation (U.S.)
- Medtronic (Ireland)
- Boston Scientific Corporation (U.S.)
- B. Braun Melsungen AG (Germany)
- Zimmer Biomet (U.S.)
- KARL STORZ SE & Co. KG (Germany)
- Olympus Corporation (Japan)
- Richard Wolf GmbH (Germany)
- Wright Medical Group N.V., (U.S.)
- Bioventus (U.S.)
- Flexion Therapeutics Inc., (U.S.)
- Medicon Health Care Private Limited. (India)
- Sklar Surgical Instruments (U.S.)
- GPC Medical Ltd., (India)
Above are the key players covered in the report, to know about more and exhaustive list of global arthroscopy devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Arthroscopy Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
