According to the latest report by IMARC Group, titled “Arthroscopy Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global arthroscopy devices market size reached US$ 5.10 Billion in 2020. Arthroscopy devices are utilized to visualize, examine, and execute therapeutic interventions inside the joints of the body. These devices are equipped with lighting systems and small lenses that enable surgeons to see the inner structure of the joints. They assist in examining specific conditions, such as rheumatoid arthritis, osteoarthritis, tendinitis, and bone tumor. They find extensive application in the arthroscopy of the hip, spine, knee, elbow, and shoulders. Some of the commonly used devices are radiofrequency systems, fluid management systems, implants, and visualization systems.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Arthroscopy Devices Market Trends:
The demand for arthroscopy devices is escalating on account of the increasing geriatric population and rising bone-related and musculoskeletal disorders. Moreover, the growing awareness about the available treatment alternatives, along with the improving healthcare infrastructure, is strengthening the growth of the market. Apart from this, due to the rising preference for minimally invasive (MI) treatment procedures, the demand for arthroscopy devices is increasing worldwide. Furthermore, the development of technologically advanced devices, which focus on improving visualization with high-definition (HD) cameras, customized suturing materials and superior suturing techniques, are strengthening the market growth. Additionally, innovations in the field of sports medicine are positively influencing the sales of these devices. Looking forward, the market value is projected to reach US$ 7.5 Billion by 2026, expanding at a CAGR of 6.80% during the forecast period (2021-2026).
- Based on the device type, the market has been segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, and others.
- On the basis of the arthroscopy type, the market has been divided into the knee, hip, spine, shoulder and elbow, foot and ankle, and other arthroscopies.
- Based on the end user, the market has been categorized into hospitals, ambulatory surgical centers, orthopedic clinics, and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Arthrex, Inc., CONMED Corporation, Johnson & Johnson Services, Inc., KARL STORZ SE & Co. KG, Medtronic plc, Richard Wolf GmbH, Smith & Nephew PLC, Stryker Corporation, Vimex Sp. z o o and Zimmer Biomet Holdings, Inc.
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