Rise in global geriatric population and increasing adoption of technologically advanced arthroscopy tools and devices are the key factors contributing to market growth.
Rise in global geriatric population and increasing adoption of technologically advanced arthroscopy tools and devices are the key factors contributing to market growth
The global arthroscopy market size is expected to reach USD 7.66 billion by 2028 at a CAGR of 6.3%, according to a new report by Reports and Data. The global market revenue is expected to grow at an exponential rate due to rapidly growing geriatric population, increasing number of arthroscopic procedures being performed worldwide, and rising prevalence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis. Growing incidences of road accidents and sports-related injuries, increasing preferences for minimally invasive surgeries and technological innovations in arthroscopic procedures are other key factors driving the global arthroscopy market to a major extent.
Arthroscopy is a minimally invasive surgical procedure for treatment of joint problems. This procedure helps in the diagnosis and treatment of joint problems and involves the use of a camera to take a close look at the affected joint areas including knee, shoulder, ankle, elbow, wrist, or hip. Arthroscopy is usually performed on an outpatient basis and is used to treat conditions such as loose bone fragments, damaged or torn cartilage, inflamed joint linings, torn ligaments, or scarring within joints. This surgical procedure allows surgeons to repair joint damage using pencil-thin surgical equipment inserted through small incisions.
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Some Key Highlights in the Report:
- Based on product type, the arthroscopic implants segment is expected to reach the highest market share over the forecast period. Increasing number of arthroscopic surgeries, growing incidences of knee and hip joint disorders, and rising adoption of biodegradable arthroscopic implants due to reduced infection risks are the major factors responsible for the growth of this segment.
- Based on application, the knee arthroscopy segment leads in terms of revenue in the global arthroscopy market. Rising prevalence of degenerative knee disease among the geriatric population, rise in cases of road accidents and sports injuries, and increasing number of arthroscopic knee surgical procedures are the major parameters driving this segment’s growth significantly.
- Based on end-use, the global arthroscopy market is segmented into hospitals, ambulatory surgery centers and clinics, and others. The hospitals segment is the leading end-use segment, with the highest CAGR in 2020. This segment’s growth is attributed to increasing incidences of joint disorders, rise in accident cases, and escalating number of arthroscopic surgeries being performed in hospitals.
- Among the key regional markets, North America is the most dominant and accounted for the highest revenue share in 2020. Increasing incidences of road accidents and sports injuries and surging adoption of technologically enhanced arthroscopic instruments including high-power surgical instruments, fluid management systems, advanced endoscopes, and high-resolution cameras are expected to bolster market growth in North America.
- The arthroscopy market in Asia Pacific is projected to display the fastest revenue growth rate of 7.2% over the forecast period. Growing geriatric population, rapidly increasing patient pool, and growing medical tourism in the region are the pivotal factors accelerating the Asia Pacific market growth.
- Stryker, Arthex Inc., DePuy Synthes Co., Arthrotek Inc., Smith & Nephew, and ConMed Corp. are among the leading companies operating in the global arthroscopy market.
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For the purpose of this report, the global arthroscopy market is segmented on the basis of product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Arthroscopic Implants
- Arthroscopy Shavers
- Visualization Systems
- Fluid Management
- Radio Devices
Application Outlook (Revenue, USD Billion; 2018-2028)
- Knee
- Shoulder
- Spine
- Hip
- Wrist
- Temporomandibular Joints
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals
- Ambulatory surgical centers and clinics
- Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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