Global Arthroscopy Devices Market Segmentation, By Product (Arthroscopic Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shaver Systems, and Other Arthroscopy Equipment), Application (Knee Arthroscopy, Hips Arthroscopy, Spine Arthroscopy, Foot and Ankle Arthroscopy, Shoulder and Elbow Arthroscopy, Others Arthroscopy Applications), End User (Hospital, Ambulatory Surgical Centers, Clinics, Others) – Industry Trends and Forecast to 2031
Arthroscopy Devices Market Analysis
The market for global arthroscopy devices is estimated to increase rapidly over the forecast period of 2024-2031. Arthroscopy devices are medical tools and equipment that are used to visualize, inspect, and perform therapeutic procedures inside the body's joints. They're mostly utilized to address medical issues, including rheumatoid arthritis, bone tumors, osteoarthritis, and tendonitis. The growing prevalence of rheumatoid arthritis, bone tumors, osteoarthritis, and tendonitis and the increasing cases of sports injuries will result in high demand for arthroscopy devices. Therefore, this will led to the introduction of arthroscopy devices in the market.
Arthroscopy Devices Market Size
Global arthroscopy devices market size was valued at USD 6.65 billion in 2023 and is projected to reach USD 13.55 billion by 2031, with a CAGR of 9.3% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
|
Attributes
|
Arthroscopy Devices Key Market Insights
|
|
Segmentation
|
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Key Market Players
|
Arthrex (US), Smith+Nephew (UK), Medical Device Business Services, Inc. (US), Stryker (US), CONMED Corporation (US), Medtronic (Ireland), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), Zimmer Biomet (US), KARL STORZ SE & Co. KG (Germany), Olympus Corporation (Japan), Richard Wolf GmbH (Germany), Wright Medical Group N.V. (US), Bioventus (US), Flexion Therapeutics Inc. (US), Medicon Health Care Private Limited. (India), Sklar Surgical Instruments (US), GPC Medical Ltd. (India)
|
Arthroscopy Devices Market Definition
Arthroscopy devices are medical tools and equipment that are used to visualize, inspect, and perform therapeutic procedures inside the body's joints. They're most commonly utilized to treat medical disorders such as osteoarthritis, rheumatoid arthritis, tendonitis, and bone tumors. Arthroscopes, implants, imaging systems, radiofrequency systems, fluid management systems, and other instruments widely utilize arthroscopy. These devices are put into the patient's body with a small lens attached to study the structures and abnormalities inside the joints.
Arthroscopy Devices Market Dynamics
Drivers
- Increasing number of cases of sports injuries will drive the market's growth rate.
The rising number of cases of sports injuries will propel the growth rate of arthroscopy devices market. Along with this, growing incidences of joint replacement surgeries will influence the growth rate of the arthroscopy devices market. During the assessment of joint-related disorders, orthopedic surgeons use arthroscopy devices. Optical fibres are used to deliver light, and small lenses are used to magnify the affected area or joint.
- Rise in the prevalence rate of musculoskeletal diseases will flourish the market's growth rate.
The increasing prevalence rate of musculoskeletal diseases such as rheumatoid arthritis, and osteoarthritis will further accelerate the demand for arthroscopy devices market.
Additionally, the rising number of government initiatives to spread awareness among people about available treatment alternatives will act as major driver influencing the arthroscopy devices market's growth rate. Other significant factors resulting in the expansion of the market are the rising health consciousness and improving healthcare infrastructure. Furthermore, rising geriatric population and increasing adoption of minimally invasive (MI) treatment procedures are the major drivers that will enhance market growth. Various innovations in the field of sports medicine and the development of technologically advanced product variants will further influence the growth rate of the arthroscopy devices market.
Opportunities
- Growth in R&D activities
The rise in the number of research and development activities will provide beneficial opportunities for the arthroscopy devices market growth. Along with this, expansion and modernization of healthcare infrastructure across emerging economies will enhance the market's growth rate in coming years.
- Technological advancement is the major driver creating new market opportunities.
Moreover, the increase in technological development in medical devices will further expand the arthroscopy devices market's growth rate in the future. Manufacturers are working on arthroscopy equipment with high-definition cameras, superior suturing procedures, and specialized suturing materials to improve visualization.
Restraints/Challenges
On the other hand, the high cost associated with arthroscopy devices will obstruct the market growth. Also, the dearth of skilled professionals will pose a major challenge for arthroscopy devices market. However, shift in decision-making in hospitals and strict regulatory requirements will act as restrain and further impede the growth rate of market during the forecast period of 2024-2031.
This arthroscopy devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the arthroscopy devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Arthroscopy Devices Market
The need for medical supplies is rising to meet the needs of the affected population. In primary clinical treatment, respiratory support equipment such as an oxygen generator, a life-support machine, a monitor and an atomizer are among the most commonly used medical equipment. Furthermore, COVID-19 has resulted in a significant increase in demand for medical goods such as masks, gloves, and protective spectacles. With an increase in the number of COVID-19 cases around the world, the need for medical supplies continues to climb among healthcare professionals and the general public for preventative measures. Manufacturers of these items have an opportunity to take advantage of the rising demand for medical supplies in order to assure a steady supply of personal protective equipment on the market. COVID 19 is likely to have a substantial impact on the arthroscopy devices market as a result of these factors.
Arthroscopy Devices Market Scope
The arthroscopy devices market is segmented on the basis of product, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Arthroscopic Implants
- Arthroscopes
- Fluid Management Systems
- Radiofrequency Systems
- Visualization Systems
- Powered Shaver Systems
- Other Arthroscopy Equipment
Application
- Knee Arthroscopy
- Hips Arthroscopy
- Spine Arthroscopy
- Foot and Ankle Arthroscopy
- Shoulder and Elbow Arthroscopy
- Others Arthroscopy Applications
End User
- Hospital
- Ambulatory Surgical Centers
- Clinics
- Others
Arthroscopy Devices Market Regional Analysis
The Arthroscopy devices market is analyzed and market size insights and trends are provided by country, product, application and end user as referenced above.
The countries covered in the Arthroscopy devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the arthroscopy devices market because of the growing adoption of advanced technology and presence of major market players in this region. Additionally, well-established healthcare infrastructure will further enhance the market's growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to growth of medical tourism in this region. Also, the occurrence of prominent players operating in developing markets and increasing patient pool will propel the market's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Arthroscopy Devices Market Share
The Arthroscopy devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to arthroscopy devices market.
Arthroscopy Devices Market Leaders Operating in the Market Are:
- Arthrex (US)
- Smith+Nephew (UK)
- Medical Device Business Services, Inc., (US)
- Stryker (US)
- CONMED Corporation (US)
- Medtronic (Ireland)
- Boston Scientific Corporation (US)
- B. Braun Melsungen AG (Germany)
- Zimmer Biomet (US)
- KARL STORZ SE & Co. KG (Germany)
- Olympus Corporation (Japan)
- Richard Wolf GmbH (Germany)
- Wright Medical Group N.V., (US)
- Bioventus (US)
- Flexion Therapeutics Inc., (US)
- Medicon Health Care Private Limited. (India)
- Sklar Surgical Instruments (US)
- GPC Medical Ltd., (India)
Latest Developments in Arthroscopy Devices Market
- In December 2021, Healthium Medtech had launched Arthroscopy product manufacturing facilities in Ahemdabad. The Arthroscopy products developed in the manufacturing facility are used to treat various knee and shoulder conditions, including anterior cruciate ligament reconstruction, posterior cruciate ligament injuries, and others.
SKU-