Arthroscopy is a minimally invasive technique used to diagnose and treat disorders and disorders like arthritis, swollen hip, carpal tunnel syndrome, broken cartilage, and lose bone and cartilage pieces. A computer used in arthroscopy procedures is an arthroscopy. It is a fiber-optic video camera that requires a high-definition video viewer to see within the joint. The system may help determine the seriousness of an accident or the type of injury.
By the end of 2027, the global arthroscopy procedures and products market is expected to be worth US$ 8,621.3 million.
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Over the forecast period, the global arthroscopy procedures and products market is expected to rise due to that acceptance of minimally invasive procedures. As per Coherent Market Insights, the global market for minimally invasive surgical instruments is projected to exceed US$ 30 billion by 2018. Arthroscopy allows for a quick recovery and a high success rate, all while reducing recovery time and trauma.
The demand is also expected to increase as the number of sports-related deaths and injuries rises. As per the National High School Sports-Related Injury Surveillance Study 2017-2018, there were 1,367,490 sports-related injury incidents reported in high schools across the U.S. The anterior cruciate ligament (ACL) is a severe injury that can be treated by arthroscopy in professional sports.
In terms of production, North America dominated the global arthroscopy procedures and products market in 2018, contributing about 54.7 percent of the overall market share, led by Europe.
Although, owing to extravasation of irrigating fluids and significant swelling around the chest, back, face, and throat, and often extending into the oral cavity, shoulder arthroscopy procedures are subject to airway complications. The implementation of arthroscopy procedures is likely to be hampered as a result of this.
Furthermore, the high cost of arthroscopy procedures and products is likely to stifle growth of the global arthroscopy procedures and products market. Inpatient arthroscopic knee surgery costs an average of US$ 21,990, while outpatient arthroscopic knee surgery costs an average of US$ 12,550.
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In the U.S., pricing constraints and a changing healthcare system have forced providers to lower costs. As a result, profit margins have been squeezed. Hence, market participants will concentrate on pursuing M&A strategies to extend their footprint in Asia Pacific, the Middle East and Africa, and Latin America’s developing markets.
Increased growth in the sports medicine market is anticipated to provide market participants with attractive growth opportunities. In January 2020, Andrews Sports Medicine & Orthopedic Center will open a clinic in Cullman, Alabama.
The Arthroscopic Implants segment of the global arthroscopy procedures and products market was worth US$ 3,486.0 million in 2018, and is projected to develop at a CAGR of 5.7 percent to US$ 5,858.3 million by 2027.
The demand for the global arthroscopy procedures and products market is expected to rise due to rising acceptance of arthroscopy procedures for meniscus care. Around the femur and the tibia are semi-lunar shock-absorbing cartilages called menisci. The most popular arthroscopic treatment is meniscal surgery of the knee.
The market’s major players are concentrating on growing their firms. Excel Orthopedic Physical Therapy has opened a new clinic in Berkeley Heights, Union County, to offer orthopedic physical therapy.
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Key companies contributing in the global arthroscopy procedures and products market are Johnson & Johnson, CONMED Corporation, Arthrex, Inc., Stryker Corporation, Richard Wolf GmbH, Olympus Corporation, and KARL STORZ GmbH & Co. KG.
The market’s key players are concentrating on marketing campaigns to increase their market share. Anika Therapeutics, Inc. announced plans to present its osteoarthritis pain relief and joint preservation and regeneration regenerative therapies at the International Society for Hip Arthroscopy (ISHA) Annual Scientific Meeting on October 17-19, 2019 in Madrid, Spain.
The major industry players are concentrating on extending their product portfolio. In July 2019, Smith & Nephew released the findings of the world’s first prospective clinical trial evaluating the feasibility of restoring HCTs (Horizontal Cleavage Tears) with the NOVOSTITCH Meniscal Repair System.
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