The global arthroscopy market is expected to undergo rapid growth in the next few years. Arthroscopy is a minimally invasive orthopedic surgical procedure in which examination of joints and their treatment is performed. Arthroscopic procedures are thus primarily performed to evaluate or treat certain orthopedic conditions such as torn cartilage, ACL reconstruction and others. Arthroscopy is preferred over open surgical methods because of the advantages of this procedure such as non-requirement of opening the joint completely, reduction of recovery time, less risk of infection, and the cost advantage. Arthroscopy is very useful for treating professional athletes who frequently suffer from joint injuries. Arthroscopic procedures can be practically performed on almost every joint in the patient’s body.
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The overall arthroscopy market can be categorized into arthroscopy procedures and products. The major arthroscopy procedures performed are for knee, hip, shoulder, wrist, ankle, elbow, and spine. Knee and hip arthroscopy are the most commonly performed arthroscopic procedures especially among professional sportsmen and patients above 65 years of age. The products segment of arthroscopy are arthroscopes, hand instruments, fixation devices, cannulae, patient positioning systems, fluid management systems and radiofrequency probes.
The global arthroscopy products and procedures market is undergoing growth because of factors such as advantages of minimally invasive surgeries over traditional open surgical methods, an increase in global healthcare expenditure and the efficacy of arthroscopy in treating aging population and professional athletes and the growth in patients’ reference for less painful surgical procedures. However, hike in the excise tax on medical devices in the U.S. may hinder the growth of this market owing to the fact that a majority of arthroscopes manufacturers are domiciled in the U.S. and the excise tax hike will increase the cost of these devices.
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Countries such as the U.S. and Japan are the major geographical markets for arthroscopy. The improvement in the healthcare infrastructure in the developing nations of the Asia Pacific will influence the growth in demand for arthroscopy in these countries. Some of the major manufacturers of arthroscopy products are Arthrex, Inc., Stryker Corporation, Synthes, DePuy, KARL STORZ. GmbH & Company, Smith & Nephew Plc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World