Arthroscopy
Instruments Market Research Report: By Products (Arthroscope, Arthroscopy
Implants, Fluid Management Systems, Visualization Systems, Other), by
Applications (Knee, Hip, Spine Arthroscopy, Other), By End-User – Global
Forecast Till 2023
Market Highlights
A number of factors such as
increasing preference for minimally invasive procedures, ongoing technological
advancements, and improving regulatory framework are fueling the growth of the
global arthroscopy instrument market. Additionally, increasing occurrences of sports-related
musculoskeletal disorders, such as the bone tumor, rheumatoid arthritis, and
osteoarthritis, are propelling the growth of this market. The world health
organization predicts the prevalence of rheumatoid arthritis to be between 0.3%
and 1% and more common in women and developed countries. Moreover, the
prediction also states that 9.6% of men and 18.0% of women aged over 60 years
have osteoarthritis. It is estimated that the global Arthroscopy Instrument Market is expected to grow at a CAGR 6.5% during the
forecast period of 2018–2023.
However, the high cost of
arthroscopy instruments, reimbursement challenges in the medical device
industry, and poor healthcare system in low and middle-income countries may
hamper the growth of the market. For instance, as per the National Center for
Health Statistics, in the United States, an approximate 650,000 arthroscopic
lavage and debridement procedures are performed for knee pain each year, at an
average cost of USD 5,000 each.
Regional Analysis
The Americas dominates the global
arthroscopy instrument market owing to the presence of major market players,
the high adoption rate of minimally invasive devices, and increasing incidences
of joint-related diseases boost the market growth in this region. Further,
according to the American Orthopedic Society for Sports Medicine, in the United
States, an estimated 4 million people undergo knee arthroscopies, whereas the
number of patients undergoing shoulder arthroscopies is 1.4 million per annum.
Furthermore, rising cases in arthroscopic surgeries along with rising
population awareness regarding health are driving the growth of the arthroscopy
instruments market.
Europe holds the second position
in the global arthroscopy instrument market. It is expected that the government
support towards research & development expenditure and rising prevalence
bone disorders is likely to drive the European market. According to the
Arthritis Research U.K. in 2016, around 10 million people in the U.K. have a
form of arthritis. Moreover, it was estimated that over 86,000 hip and over
90,000 knee replacements take place every year.
Asia Pacific is the fastest
growing in the global arthroscopy instruments market owing to a huge patient
pool, increasing demand for minimally invasive surgeries, and development in
healthcare technology. According to Osteoporosis Australia, around 4.74 million
Australians over 50 years of age are suffering from either osteoporosis or poor
bone health. Which further fuels the need for arthroscopy surgeries. Healthcare
expenditure is found to be improving in various Healthcare expenditure is found
to be improving in various Asia Pacific regions. Moreover, the availability of
skilled physicians and nurse practitioners and the low cost of surgeries have
fueled medical tourism in India.
The Middle East and Africa holds
the lowest share of the global market due to low development, lack of technical
knowledge, and poor medical facilities.
Segmentation
The global arthroscopy instrument
market is segmented on the basis of the product, application, and end-user.
On the basis of product, the
market is classified into arthroscope, arthroscopic implants, fluid management
systems, visualization systems, radiofrequency system, power shavers and
others. The arthroscopic implants are further segmented as knee implants, hip
implants, shoulder implants, and others. The radiofrequency systems are further
segmented as RF generators, RF probes, and wands and footswitch.
On the basis of application, the
market is segmented knee arthroscopy, hip arthroscopy, spine arthroscopy, foot
and ankle arthroscopy, shoulder arthroscopy, and others.
On the basis of end-user, the
market is segmented into hospitals, ambulatory surgical centers, and others.
Key Players
Some of key the players in the
global arthroscopy instrument market Smith & Nephew (U.K.), Arthex
(U.S.), DePuy Synthes (U.S.), Stryker (U.S.), Conmed (U.S.), Medtronic, Inc.
(U.S.), Zimmer Biomet (U.S.), B. Braun (Germany), Olympus (Japan), Karl Storz
(Germany), Richard Wolf (Germany), Medicon (Germany), Sklar (U.S.), GPC
Medical (India), and Millennium (U.S.).
No comments:
Post a Comment