The global arthroscopy market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising geriatric population as well as sport participation that are prone to injuries requiring arthroscopic procedures.
Arthroscopy is a surgical procedure to repair a joint and other related bone problems. This surgical procedure is minimally invasive and saves patients from total knee replacement. According to America Academy of Orthopedic Surgeons, over 4 million knee arthroscopic surgeries are performed worldwide annually. Approximately 1.4 million shoulder arthroscopic procedures are performed worldwide as per the data provided by American Orthopedic Society for Sports Medicine. With the increasing sport injuries, there is wide demand for the introduction of improved versions and development in technology.
The COVID-19 situation has affected the market at a large scale as all the non-urgent surgeries were postponed and most of the hospitals were increasingly converted into COVID centers. The rising incidences of musculoskeletal disarray is expected to push the market growth positively during the forecast period. For instance, Ceterix launched minimally invasive NovoStitch, a device to be used for complex anatomical situations to ensure joint stich.
The report on the global arthroscopy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Arthroscopy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Products (Visualization Systems, Powered Shaver Systems, Fluid Management Systems, Arthroscopes, Ablation Systems, Arthroscopes Implants, Disposables, and Accessories) and Applications (Knee, Hip, Shoulder, Hand & Wrist, Foot & Ankle, Elbow, and Sports Injuries) |
Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Arthrex Inc.; Smith & Nephew plc; DePuy Synthes; and ConMed Corp. |
Based on products, the global arthroscopy market is divided into visualization systems, powered shaver systems, fluid management systems, arthroscopes, ablation systems, arthroscopes implants, disposables, and accessories. The arthroscopes implants segment is expected to grow at a robust rate during the projected period due to rapid introduction of advanced biodegradable implants, which can reduce the risk of infection. However, the ablation systems segment is anticipated to expand at a rapid pace during the forecast period owing to advancement in technology of the system.
In terms of applications, the market is segregated into knee, hip, shoulder, hand & wrist, foot & ankle, elbow, and sports injuries. The knee segment accounted for a key share of the market in 2020 and is projected to expand at a considerable CAGR during the forecast period owing to rising geriatric population who are at risks of having knee joint disorders. However, the sports injuries segment is anticipated to exhibit a high growth rate during the projected period due to the rise in number of sport activities and wide engagement in active lifestyle among people.
In terms of regions, the global arthroscopy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America constituted a key share of the market in 2019 and the trend is projected to continue in the coming years due to high adoption rate for arthroscopic procedure and early adoption of advanced technology for the medical treatment in the region. The market of Asia Pacific, meanwhile, is anticipated to expand at an impressive growth rate during the forecast period owing to the presence of strong medical device manufacturing sector.
Segments Covered in the Report
The global arthroscopy market has been segmented on the basis of
Products
Applications
Regions
Key Players
Key players competing in the arthroscopy market are Arthrex Inc.; Smith & Nephew plc; DePuy Synthes; and ConMed Corp. The main market players are continuously engaged in several business development activities such as mergers, acquisitions, research and developments, investments for innovative products, and collaborations to expand their market share. For instance, Zimmer Biomet announced an acquisition deal of Cayenne Medical to fuel its sports medicine division in May 2016.
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