Arthroscopy Devices Market Share, Growth, Opportunities 2031

Report Description

The global arthroscopy devices market size was USD 6.1 Bn in 2022 and is likely to reach USD 13.8 Bn by 2031, expanding at a CAGR of 9.5% during 2023–2031. The market is propelled by the rising geriatric population and high prevalence of musculoskeletal disorders.

Rising demand for joint replacement procedures, due to the prevalence of musculoskeletal disorders is boosting the arthroscopy devices market. In developed regions such as Europe and North America, hundreds of arthroscopy procedures are performed, as it is considered the safest and most reliable treatment in any area of medicine. Growing knee and joint-related issues among the geriatric population are fueling the demand for arthroscopy procedures, which is subsequently increasing the market for arthroscopy devices.

• According to the American College of Rheumatology Report 2023, in the US, around 790,000 knee replacements and over 450,000 hip replacements are performed each year. This number is likely to continue increasing, as the population ages.

Get Free Sample Report

Arthroscopy devices are a type of medical equipment and tools utilized for individuals joints related diagnostics and treatments. These devices are particularly useful for carrying out therapeutic procedures, visualization, and inspection of injuries related to inside the human body’s joints.

Some of the common issues associated with human joints are bone tumors, arthritis, damaged joint lining, knee cap damage, torn ligaments, and torn cartilage, among others. If an individual has any of these problems, arthroscopy is required. It deals with an examination of the inside of the affected joint with the use of specially-made devices using cameras and surgical materials.

Arthroscopy is performed with the insertion of a special illuminating instrument i.e. arthroscopes, through a small incision or portal. These incisions are smaller in length, typically, not bigger than 1 centimeter.

Arthritis is one of the most common joint-related health problems individuals face globally.  According to the Centers for Disease Control and Prevention (CDC), Osteoarthritis (OA) is a common arthritis form. Some people identify it as “wear and tear arthritis” while some call it simply a degenerative joint disease. It occurs in major joints part of the body including knees, hips, and hands.

According to data published by World Health Organization (WHO) in July 2022, worldwide there are approximately 1.71 billion individuals who have musculoskeletal conditions. These conditions affect the human body’s muscles, joints, bones, and connective tissues. The common musculoskeletal conditions types are various arthritis complaints, back issues, and osteoporosis.

The market report finds that the COVID-19 pandemic negatively impacted the arthroscopy devices market. As healthcare establishments and governments around the world focused on addressing the rapid spread of infection, the procedures related to joint treatments received lower importance, as the surgeons were instructed to perform only highly essential surgical procedures. The individuals who faced joint issues also refrained from visiting clinics owing to fear of infection and lockdown measures.

• According to a report published by Canadian Institute for Health Information, titled CJRR Annual Report, in Canada, around 55,300 hip and 55,285 knee replacements were performed in 2020-2021, which was 12.9% and 26.4% lower as compared to the number of procedures performed in 2019-2020.

Arthroscopy Devices Market Dynamics

Get Free Sample Report

Major Drivers

The increasing prevalence of musculoskeletal conditions is one of the primary drivers of the arthroscopy devices market. Musculoskeletal health deals with locomotor system performance. These conditions are the top contributors to disabilities in the worldwide population.

Musculoskeletal disorders create joints related complaints such as osteoarthritis, psoriatic arthritis, gout, rheumatoid arthritis, and spondyloarthritis. The growth of populations and rising aging populations are making musculoskeletal disorders highly prevalent, as stated by WHO’s article in July 2022.

• According to data published by World Health Organization (WHO) in July 2022, worldwide there are approximately 1.71 billion individuals who have musculoskeletal conditions. These conditions affect the human body’s muscles, joints, bones, and connective tissues. The common musculoskeletal conditions types are various arthritis complaints, back issues, and osteoporosis.

Rising sports injuries associated with joints are also driving the demand for arthroscopy devices. As per the information published by National Safety Council (America’s leading nonprofit safety advocate), sports injury grew by 27% in 2021, following a 27% decline in 2020 during the COVID-19 lockdown period.

An increasing number of individuals right from a young age are participating in sports and recreation activities, owing to the efforts of governments, educational organizations, and sports institutes. The NSC information further states that 3.2 million people received treatment in emergency departments of hospitals, all injuries in these cases were associated with sports and recreational activities.

Existing Restraints

The higher expenses required for arthroscopy devices are likely to hamper the market in the coming years. The high-cost factor limits access to arthroscopy to those who are in middle or lower-income groups. Further, the lesser availability of skilled healthcare professionals having expertise in handling arthroscopy instruments and devices increases the price of treatments.

Emerging Opportunities

Rising research and development activities coupled with a growing preference for minimally invasive surgeries are projected to create favorable growth opportunities in the market. With R&D initiatives the manufacturers in the market are creating advanced devices including arthroscopes.

The development focus includes the manufacture of high-definition cameras, suturing technique enhancements, improvement in visualization, and customization of suturing materials. The growing advancements in medical devices with the inclusion of rapidly evolving technology are likely to provide new market growth prospects in the years ahead.

Scope of the Arthroscopy Devices Market Report

The global market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Arthroscopy Devices Market Segment Insights

Product Type Segment Analysis 

Based on product type, the arthroscopy devices market is divided into arthroscopic implants, arthroscopes, visualization systems, radiofrequency systems, powered shavers, and others. The arthroscopes segment is projected to hold a major share of the market revenue during the projection period owing to the rising number of joint injuries and technological advancements in cameras. The reduced lifespan of arthroscopes owing to the sterilization process and the launch of one-time-use purpose arthroscopes are also contributing to the segment growth.

In an arthroscopy procedure, the arthroscopes are inserted within the designated joint through a small incision or portal, after giving the anesthesia drug to the patient. This allows surgeons to take a detailed view of the inside of the joint to examine the injury. The arthroscopy procedure is most often performed on joint issues related to the knee, hip, shoulder, ankle, wrist, and elbow. All these procedures require the use of arthroscopes, which drives the segment growth.
                                                                                                                                  
The arthroscopic implants segment is expected to grow rapidly over the forecast period. The rise in sports and other trauma injuries in the younger population, affecting shoulder, hip, and other joints is driving the demand for arthroscopic implant procedures. Technological and material advances are enabling the creation of the most suited implants, thus, increasing their adoption in joint replacement and repair treatments.

Application Segment Analysis

On the basis of application, the global market is segregated into hip arthroscopy, knee arthroscopy, foot & ankle arthroscopy, shoulder & elbow arthroscopy, spine arthroscopy, and others. The knee arthroscopy segment held the highest share of the market revenue in 2022 and is expected to be dominant in the coming years. The growing number of individuals suffering from arthritis is the leading cause of the segment growth. Further, the increasing old-age population and growing sports injuries related to the knee are propelling the segment’s growth.

In a knee arthroscopy procedure, a small camera is inserted into the knee joints. The visual output generated by the camera on the monitor help surgeons in performing surgery efficiently. One of the most common knee-related complaints among the old age population is the degenerative knee. As the geriatric population is growing exponentially worldwide, the need for knee arthroscopy is expected to grow at a substantial pace.

Get Free Sample Report

End User Segment Analysis

On the basis of end-user, the arthroscopy devices market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is projected to hold a key share of the market, as a higher percentage of individuals prefer getting their arthroscopy done in a hospital setting.

The presence of hospital facilities across worldwide urban and semi-urban areas is robust. With time, technology and advanced medical devices and instruments are being added. As people are seeking reliable diagnostics, treatment, and recovery for critical surgeries, the hospital is becoming their preferred option to get the procedure done.

Regional Analysis

In terms of region, the global arthroscopy devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the increasing number of healthcare facilities focusing on adding and upgrading medical equipment and devices.

In addition, the growing prevalence of joint disorders, bone disorders, and injuries in the region is fueling the need for arthroscopic procedures, thus, necessitating the use of arthroscopes, implants, and other related devices in North America. Musculoskeletal disorders are most commonly reported in the region. One out of two individuals aged 18 or plus have these complaints, while, three out of four individuals aged 65 or above are facing musculoskeletal issues, states the report published by CDC in February 2021.

Asia Pacific is expected to witness rapid growth in the arthroscopy devices market owing to the rising geriatric populations coupled with growing joint disorders. The large population of the emerging economies of the region such as India and China and growing per capita income are further supporting the demand growth for surgical procedures, thus, increasing the use of arthroscopy devices across the region’s healthcare establishments.

Get Free Sample Report