Arthroscopy is a minimally invasive surgical procedure on a joint in which an examination and sometimes treatment of damage is performed using an arthroscope, an endoscope that is inserted into the joint through a small incision. The hand instruments are generally unpowered, non-disposable, metallic devices that are used as hand tools for the surgery. These include knives, probes, graspers, punches, scissors, scissor punches, dissectors and shears. Each of these tools comes in a variety of configurations and geometries to suit surgeon preference and surgical needs. Because hand instruments are essentially a commodity market, the key differentiating factors are ergonomics and surgeon preference. Arthroscopic instruments are used in arthroscopy, which is used for the visualization, treatment, and diagnosis of joints related problems. Handheld arthroscopic instruments include knives, graspers, probes, scissors, dissectors, punches, scissor punches, and shears. These hand instruments come in a variety of configurations to suit surgeon preference and surgical need.
COVID-19 scenario analysis:
There are various medical supplies which can be used to support the infected population with the primary clinical treatment required. There is various respiratory support devices such as life-support machine, atomizer, oxygen generator, and monitor are most commonly used medical devices. Furthermore, COVID-19 has led to a steep rise in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With the global surge number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. The majority of the manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The market is driven by certain factors which include the increase in the geriatric population and surge in the incidences of the targeted conditions such as arthritis, knee, spine, shoulder and hip injuries, which would boost the industry. The surge in preference for the minimally invasive procedures would help the market grow. The rise in the technological developments in the forecast period is anticipated to help the market gain maximum revenue. However, the high cost of the arthroscopy instruments may hinder the market growth in the commenced period.
Surge in mergers and acquisitions flourish the market
In December 2018, Smith & Nephew announced the acquisition of Ceterix Orthopaedics and its NovoStitch Pro knee repair device. This acquisition would help the companies to help in expansion of these industries, which would boost the market in the coming years.
In September 2019, Fortune 500 medical technologies firm Stryker had signed an agreement to acquire Mobius Imaging and its sister company GYS Tech, called as Cardan Robotics, for an upfront payment of approximately USD 370m in cash. This initial payment will be followed by up to USD 130m of contingent payments related to future development and commercial milestones. This acquisition helps in gaining the attention which would boost the market in the forecast period.
Surge in mergers and acquisitions to boost the market
In 2019, an estimated 38,800 people lost their lives to car crashes, which is a 2% decline from 2018 (39,404 deaths) and a 4% decline from 2017 (40,231 deaths). About 4.4 million people were injured seriously enough to require medical attention in crashes, which also a 2% decrease over 2018 figures.
In 2015, projected about 54.4 million, United States adults which is 22.7% per annum rheumatoid arthritis, gout, arthritis, lupus, or even fibromyalgia.
Key benefits of the report:
- This study presents the analytical depiction of the global Arthroscopic Hand Instruments industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Arthroscopic Hand Instruments market share.
- The current market is quantitatively analyzed to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Arthroscopic Hand Instruments Market research report:
- Who are the leading market players active in the Arthroscopic Hand Instruments market?
- What are the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in tasking further strategic steps?
Arthroscopic Hand Instruments Market Report Highlights
By End User
Key Market Players
Stryker, Arthrex, DePuy Mitek, MediVision, Karl Storz, Zimmer Biomet, Smith & Nephew, Richard Wolf, Medifix, ConMed Linvatec
Medline, Medtronic, Millennium Surgical, OrthoMed.