Sophisticated radiofrequency systems employing wireless and USB technology have revolutionized minimally invasive surgeries by offering precise soft-tissue ablation, cutting of blood vessels, and hemostasis during arthroscopy procedures. This has led to increase in demand for radiofrequency systems to execute arthroscopy interventions.
Arthroscopy Devices Market Report, published by Allied Market Research, forecasts that the global market was valued at $3,453 million in 2015 and is projected to reach $5,334 million by 2022, growing at a CAGR of 6.2% from 2016 to 2022. The arthroscopic implants segment held nearly two-fifths of the total market in 2015.
Arthroscopy devices are rapidly being adopted to examine the bone joints for specific conditions, such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumor. The increase in prevalence of musculoskeletal disorders (such as osteoarthritis and rheumatoid arthritis) due to the rapidly ageing population is the prime factor to drive the demand for arthroscopy procedure.
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Many market players have focused to expand their foothold in the LAMEA region by adopting strategies such as product launches to discover the untapped opportunities in this region. These arthroscopy device manufacturing companies such as Smith & Nephew, Stryker Corporation, and DePuy Synthes (J&J) also have a wide distribution network in this region. For instance, in February 2016, Smith & Nephew entered into a multi-country distribution agreement with OrthAlign, a U.S. based private company focused on developing medical devices to distribute their Total-Knee Arthroplasty (TKA) technology across several countries in Africa and Middle East.
The key players that operate in the global arthroscopy devices market include Arthrex, Inc. Conmed Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Medtronic, Plc, Richard Wolf GmbH, Smith & Nephew, Plc, Stryker Corporation, Wright Medical Group N.V., Zimmer Biomet Holdings, Inc. Other players in the value chain include Active implants, Bioventus, Breg, Cannuflow, Inc., DJO Global, Inc., Flexion Therapeutics, MinInvasive Ltd, NuOrtho Surgical, Inc., OrthoSpace, ROG Sports Medicine, and others.