The arthroscopy devices market is estimated to reach $5,334 million by 2022 from $3,453 million in 2015, and is estimated to grow at a CAGR of 6.2%. 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 being 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 (such as 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% from 2016 to 2022. Brazil is presumed to be the market leader in the LAMEA region. This is attributed by the growth in medical tourism in Brazil 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 such as 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, in February 2016, Smith & Nephew entered into a multi-country distribution agreement with OrthAlign, a U.S. based private company focused on developing medical devices to 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., 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 Report
- The study provides an in-depth analysis of the global arthroscopy devices market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps understand competitive outlook of the market.
- Porters Five Forces model illustrates the competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of the suppliers.
- Extensive analysis is conducted 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