Fact.MR’s arthroscopy products market report forecasts strong expansion, expecting an incline of over 6% CAGR across the 2021-2031 assessment period. As per the report, the market is poised to be valued at above US$ 11.7 Bn by 2031. Growth is majorly fueled by prevalence of musculoskeletal disorders, increased application in sports medicine, rising product launches, and more developmental activities.
Rise in the aging population who are comparatively more prone to trauma, osteoarthritis, and other knee and joint-related issues is one of the major factors propelling demand for arthroscopy devices. Aging contributes to soft tissue degeneration and related disorders, particularly of the knee. The elderly population accounts for over one-third of global hip and shoulder injuries.
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Minimally-invasive techniques are gaining wide acceptance among surgeons due to the large number of benefits provided by these procedures over open surgeries, such as tiny surgical incision, reduced hospitalization cost, and lesser post- operative complications. Increasing preference and acceptance of minimally-invasive and cost-effective surgeries using arthroscopic devices are expected to create enormous opportunities for market players.
Arthroscopic devices in the field of sports medicine are anticipated to provide huge opportunities to key players. Manufacturers are developing arthroscopic devices to improve visualization with high-definition cameras, provide superior suturing techniques, and customized suturing materials for specific applications.
Key Takeaways from Market Study
- By product, arthroscopic implants accounted for the largest share of 66.1% in 2021, and the segment is expected to continue to grow at the same speed over the decade.
- By procedure, knee arthroscopy accounted for the largest share of 46.9% in 2021, and is expected to dominate over the forecast period of 2021 to 2031 as well.
- By region, North America holds the largest share of 34.1% in the global market.
- The East Asia market is set to exhibit a CAGR of 7.6% due to emerging economies, low taxation and investment-friendly environment, rising population, and increasing number of arthritis patients.
- In South Asia, China accounted for the largest share of 55.6% in 2021, and is expected to continue to grow at the same pace over the year ahead.
“Increasing adoption of minimally-invasive arthroscopic surgeries, rising sports injuries, application in sports medicine, and technological advancements in arthroscopy are expected to drive demand for arthroscopy products,” says a Fact.MR analyst.
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Key Segments Covered in Arthroscopy Products Industry Survey
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Product
- Arthroscope and Visualization Systems
- Arthroscopic Resection Systems
- Arthroscopic Fluid Management Systems
- Arthroscopic Implants
- Arthroscopic RF Systems
- Arthroscopic Drills and Fixation Systems
- Other Arthroscopy Instruments & Accessories
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Procedure
- Shoulder Arthroscopy
- Hip Arthroscopy
- Knee Arthroscopy
- Elbow, Wrist, Digits & Ankle Arthroscopy
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Competitive Landscape
Some of the leading manufacturers of vacuum blood collection devices are focusing on product launches, collaborations, and partnerships for global expansion, thereby, enhancing their market presence.
- In July 2021, Smith & Nephew plc launched the FAST-FIX FLEX Meniscal Repair System. It uses an all-inside approach to eliminate the need for further incisions, reduces the risk of neurovascular injury, and provides procedural efficiency to support faster operating times.
- In March 2019, Stryker introduced the 1688 Advanced Imaging Modalities (AIM) 4K Visualization Platform to enhance arthroscopic surgical efficiency and patient experience.
- In December 2019, KARL STORZ announced a collaboration with Diaspective Vision to expand its current portfolio by including hyperspectral imaging. Hyperspectral imaging (HSI) is a noninvasive imaging method that does not require contrast agents, making it a perfect addition to existing KARL STORZ imaging systems.
- In February 2018, Richard Wolf GmbH, as a strategic expansion plan, opened a new subsidiary firm in Singapore, owing to medical developments and medical technology advancements happening in the region.
Key market players covered by Fact.MR include Arthrex Inc., Conmed Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, Stryker Corporation, Smith & Nephew plc, Zimmer Biomet Holdings, Stryker Corporation, Medtronic plc, and B Braun Melsungen AG.
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