Arthroscopy Devices Market Overview:
The Arthroscopy Devices Market is estimated to reach $5,334 million from $3,453 million and grow at a CAGR of 6.2% by 2022. An arthroscope is a medical device used to visualize, examine, and execute therapeutic interventions inside the joints of the body, such as knee, hip, spine, shoulder, elbow, and others.
Arthroscopy devices are rapidly adopted to examine the bone joints for specific conditions, such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumor. The increase in prevalence of musculoskeletal disorders (osteoarthritis and rheumatoid arthritis) due to the rapidly ageing population is the prime factor to drive the demand for arthroscopy procedure. Moreover, the growth in number of sport injuries where arthroscopy procedure avoids the total joint replacements is anticipated to propel the market growth. In addition, the arthroscopic implants hold a dominating share in the global arthroscopic devices market, and is expected to maintain its lead during the forecast period. This is attributed to the diverse application of these implants with improved designs, such as smart and customized implants to treat different conditions and increased adoption of implants in arthroscopy procedures of damaged joints.
Global Arthroscopy Devices Market Segmentation
LAMEA Regional Review:
LAMEA region witnessed significant growth in terms of adoption of arthroscopy devices and is expected to grow at a CAGR of 6.6% during the period, 2016‐ 2022. Brazil is presumed to be the market leader in the LAMEA region. This is attributed by the growth in medical tourism in the country coupled with the rise in awareness pertaining to the utilization of arthroscopic technologies. In addition, the growth in focus of arthroscopy device manufacturing companies to invest in LAMEA region drives the market growth. Furthermore, growth in economy and private healthcare insurance employments in countries, such as Brazil, Saudi Arabia, and South Africa that improve the healthcare services is estimated to further boost the adoption of diagnostic and therapeutic arthroscopy systems in the overall LAMEA region.
LAMEA Arthroscopy Devices Market, by Country, 2014-2022 ($Million)
Many market players have focused to expand their foothold in the LAMEA region by adopting strategies including product launches to discover the untapped opportunities in this region. These arthroscopy device manufacturing companies, such as Smith & Nephew, Stryker Corporation, and DePuy Synthes (J&J) also have a wide distribution network in this region. For instance, Smith & Nephew entered into a multi-country distribution agreement with OrthAlign, a U.S. based private company in February 2016. The partnership focused to develop medical devices and distribute their Total-Knee Arthroplasty (TKA) technology across several countries in Africa and Middle East.
The key players that operate in the global arthroscopy devices market include Arthrex, Inc. Conmed Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Medtronic, Plc, Richard Wolf GmbH, Smith & Nephew, Plc, Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc. Other players in the value chain include Active implants, Bioventus, Breg, Cannuflow, Inc., DJO Global, Inc., Flexion Therapeutics, MinInvasive Ltd, NuOrtho Surgical, Inc., OrthoSpace, ROG Sports Medicine, and others.
Key Benefits of the Arthroscopy Devices Market Report:
- It provides an in-depth analysis of the industry with current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis to enable the stakeholders to capitalize on prevailing market opportunities for the period, 2014‐2022.
- It includes key market players within the market and gives analysis of their strategies, which helps understand competitive outlook of the industry.
- The Porters Five Forces model illustrates the competitiveness of the market by analyzing various parameters.
- It provides an extensive assessment by following key product positioning and monitoring the top competitors within the market framework.
Arthroscopy Devices Market Key Segments:
- Arthroscopic Implants
- Knee Implants
- Hip Implants
- Shoulder Implants
- Other Implants
- Fluid Management Systems
- Radiofrequency (RF) Systems
- RF Generators
- Radiofrequency Probes & Wands
- Visualization Systems
- Powered Shaver Systems
- Other Arthroscopy Equipment
- Knee Arthroscopy
- Hip Arthroscopy
- Spine Arthroscopy
- Foot & Ankle Arthroscopy
- Shoulder & Elbow Arthroscopy
- Other Arthroscopy Applications (Wrist and Jaw)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Republic of South Africa
- Rest of LAMEA