Arthroscopy Devices Market is poised to grow at a CAGR of over 5.2% during the forecast period of (2020-2030)
Constant growth in the orthopaedic disorders along with the growth in minimally invasive surgical procedures linked with the fast developing healthcare facilities are expected to drive the growth of arthroscopy devices industry during the forecast period of 2020-2030.
The Arthroscopy Devices Market is expected to grow at the CAGR of 5.2% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Arthroscopy devices are used by the orthopaedic surgeons to carry out interventions which further helps in the examination and minimally invasive surgical procedures. These devices consist of magnifying lenses along with illuminating system which helps to illuminate & magnify the joint for better diagnosis & treatment. Arthroscopic procedures are also used for the arthroscopic implants to treat various orthopaedic conditions with better results.
According to the report, rapid growth in the prevalence rate of orthopaedic disorders along with the surge in sports injuries are the major factors driving the market growth. There has been surge in the demand for minimally invasive procedures for faster recovery together with surge in geriatric population has also raised the demand for arthroscopic procedures. On the other hand rapid growth in the healthcare facilities & infrastructure along with increase in disposable income of people are also likely to enhance the market growth. Moreover, increased integration of technology along with constant product launches may tends to bring change in market trends.
However, high cost of the minimally invasive surgeries along with the devices may act as the restrain for market growth. Moreover, surge in technological advancement as well as growth in research & development activities is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of product, the arthroscopy devices market share is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency (RF) systems, visualization systems, powered shaver systems, and other arthroscopy equipment. Arthroscope dominates the global arthroscopy devices market in terms of market share and will be the dominant during the forecasted period.
On the basis of application, the arthroscopy devices market is categorised into Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot & Ankle Arthroscopy, Shoulder & Elbow Arthroscopy, and Other. Knee Arthroscopy is the major application of the arthroscopic devices and is expected to transform the arthroscopy devices market trend.
On the basis of end user, the market is fragmented into hospitals, ambulatory surgical centers, and orthopaedic clinics. Hospitals are likely to dominate the arthroscopic devices market in terms of market share over the forecast period.
North America is likely to account for the highest market size & share of the arthroscopy devices market in the forecast period 2020–2030 owing to the huge demand for the arthroscopy devices, along with the rapid growth in minimally invasive surgical procedures supported by the presence of developed healthcare facilities. Europe accounts for the second leading position in the arthroscopy devices market size. Asia Pacific is expected to be the fastest developing region in the arthroscopy devices market which is majorly driven by presence of huge geriatric population base along with the growth in sports injuries as well as growing prevalence of orthopaedic disorders.
According to the report, some the key players in the arthroscopy devices market are Conmed Corporation, Arthrex, Inc., KARL STORZ GmbH & Co. KG, Johnson & Johnson, Richard Wolf GmbH, Medtronic, Plc, Stryker Corporation, Smith & Nephew, Plc, Zimmer Biomet Holdings, Inc., Wright Medical Group N.V., Bioventus, Active implants, Cannuflow, Inc., Breg, Flexion Therapeutics, DJO Global, Inc., NuOrtho Surgical, Inc., MinInvasive Ltd, OrthoSpace, and ROG Sports Medicine.
Browse key industry insights from the report at https://www.nextmsc.com/report/arthroscopy-devices-market in detail along with the table of contents:
Key Insights from the Arthroscopy Devices Market Report:
- Asia Pacific is the fastest growing Arthroscopy Devices market owing to the rising demand of minimally invasive surgical procedure along with the growing prevalence of orthopaedic disorders as well as developing healthcare infrastructure.
- The Knee Arthroscopy application dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Conmed Corporation, Arthrex, Inc., KARL STORZ GmbH & Co. KG, Johnson & Johnson, Richard Wolf GmbH, Medtronic, Plc, Stryker Corporation, Smith & Nephew, Plc, Zimmer Biomet Holdings, Inc., Wright Medical Group N.V., Bioventus, Active implants, Cannuflow, Inc., Breg, Flexion Therapeutics, DJO Global, Inc., NuOrtho Surgical, Inc., MinInvasive Ltd, OrthoSpace, and ROG Sports Medicine.
The report Arthroscopy Devices market – segmented by product, application, end users and geography
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