Rise in technological advances and growing importance of sports activities among the young as well as the older generation has fuelled the growth of the arthroscopy devices market. According to the Center for Disease Control and Prevention (CDC), the high school athletes alone accounts for 2 million injuries, 50,000 doctor visits and 30,000 hospitalizations each year in the U.S. alone. Compounding this effect, the elderly and obese populations have been observed to be highly prone to degenerative diseases such as osteoarthritis, rheumatoid arthritis and other trauma injuries. Knee and shoulder arthroscopies are the most common procedures performed across the world in this class of surgeries. Stringent regulatory procedures for the approval of devices along with unfavorable reimbursement policies in developed countries have negatively affected the growth in these regions. On the other hand, a rise in disposable incomes in developing countries has boosted the confidence of OEMs towards these regions.
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The arthroscopic procedures are mainly performed on knee and shoulder however, hip implants are also gaining popularity owing to technological advances in this sector coupled with rise in the geriatric patients being more prone to fall and trauma injuries. The arthroscopic procedure is minimally invasive in nature and has advantages such as shorter hospital stay, minimal incision, less post-surgical complications and shorter recovery time. These advantages attract patients to undergo this procedure.
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The arthroscopic devices include arthroscopes (cameras), shavers, fluid management, radiofrequency systems and visualization systems. The arthroscopic implant accounted for the largest market and was valued to be around USD 2 billion in 2012. The arthroscopic visualization system market is expected to grow at the highest growth rate of more than 9% from 2013 to 2019. This market is followed by arthroscopic radiofrequency ablation system in terms of growth rate and is expected to reach a market size of more than USD 230 million by 2019. Whereas, the arthroscopic shavers market is estimated to have the slowest growth of the total arthroscopic devices market during the forecast period.
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Geographically the North American market accounted for the largest share of arthroscopy devices of the global arthroscopy devices in 2012. This is followed by Europe and Asia. The Asian market is expected to foresee the highest growth in coming years of forecast. The major players of this market are Smith & Nephew, Conmed, Arthrex, Depuy Synthes and Stryker.
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