According to the current analysis of Reports and Data, the Global Arthroscopy Market was valued at USD 4.13 Billion in 2019 and is expected to reach USD 7.2 Billion by the year 2027, at a CAGR of 6.3%. The study covers the genre of healthcare with a special focus on medical devices for Arthroscopy. Arthroscopy is a surgical procedure that orthopedics use to diagnose, visualize, and treat several problems of the joints. It is applicable to knee, shoulder, wrist, hip, spine, and temporomandibular joints. Unlike the traditional open surgeries, Arthroscopy doesn’t need to fully open the joints. Originally, Arthroscopy was designed simply as a visualizing and diagnosis machine. However, with the rising technological advancements, arthroscopy was promoted from being a procedure to being a surgery.
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The tools and devices required for this surgery include arthroscopes, grasping tools, implants, shavers, and fiber optics. A rise in the preferences of the people towards less painful and less invasiveness during surgeries has been fueling the arthroscopic market. An increase in the prevalence of arthritis problems in the geriatric population has been a key driving factor for the growth of the market. However, the high costs of the surgery and lack of skilled surgeons, especially in developing and under-developed countries, have been a few of the major restraining factors.
Further key findings from the report suggest
- The rising cases of sports injuries, osteoarthritis, bone cancer, etc. have been the key indicative metric for this market.
- Arthroscopy is a minimally-invasive surgery. The rising preference of the people towards minimally-invasive procedures has been a key driving factor for the market.
- With the rising technological advancements and the launch of new integrated devices and tools, the medical authorities are further encouraged to opt for this market.
- Enhanced healthcare tourism further fuels the growth of the market. For instance, the U.S. Healthcare tourism initiatives by the government through packages and deals inclusive of post-operative follow-up and easier visa approval has expected to propel the market growth over the forecast period.
- A lot of manufacturers and medical institutions are working on digitalization and are expected to take a digital leap in the near future and offer customized operation theaters that standardize and utilize imaging components. These centralized operation theaters are expected to integrate power instruments, fluid management system, endoscopes, and cameras. Digital ORs are anticipated to gain popularity due to the reduced turnover time.
- High costs of the surgery, however, discourage a large chunk of the population from opting for this surgery. This is a major restraining factor for the market. However, the rising insurance facilities and financial aids provided by the government has brought a significant change.
- North America dominates the market with the largest market share due to the rising incidents of sports injuries among the population and the presence of advanced technological facilities. Europe, on the other hand, has the second-largest share in the market and is expected to rise at a CAGR of 6%. Asia Pacific is the fastest-growing region with a CAGR of 7.2% due to the rising technological developments and the increasing numbers of patients with problems in the emerging economies.
- Key players in the market include Stryker, Arthex Inc., DePuy Synthes Co., Arthrotek Inc., Smith & Nephew, and ConMed Corp. Arthex Inc. is the leading manufacturer of arthroscopes and implants. Stryker and DePuy Synthes are the leading manufacturers of arthroscopy shavers.
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For the purpose of this report, Reports and Data has segmented the Global Arthroscopy Market on the basis of type, application, end-use, and region:
Type (Revenue, USD Million; 2017–2027)
- Arthroscopy Shavers
- Visualization Systems
- Fluid Management
- Radio Devices
Application (Revenue, USD Million; 2017–2027)
- Temporomandibular Joints
End-Use (Revenue, USD Million; 2017–2027)
- Ambulatory surgical centers and clinics
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/arthroscopy-market
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