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(June 06, 2018)
The Global Arthroscopy Instruments Market is currently dominated by many players. For instance, in 2018, DePuy launched the PURVUE – Next-Generation high-definition visualization system. Similarly, Olympus launched the ENDOEYE 3D video telescope. South America is still a developing region in terms of infrastructure and technology.
The Global Arthroscopy Instruments Industry is expected to gain prominence over the forecast period (2018–2023). It is estimated that the global arthroscopy instruments market is expected to register a CAGR ~6.5 % during the forecast period of 2018–2023.
Despite these drivers, the high cost of arthroscopy instruments, reimbursement challenges in the medical device industry, and poor healthcare system in low and middle-income countries may hamper the growth of the market. As per the National Center for Health Statistics, in the United States, an approximate 650,000 arthroscopic lavage and debridement procedures are performed for knee pain each year, at an average cost of USD 5,000 each.
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Global Arthroscopy Instrument Market Key Players:
Smith & Nephew (U.K.), Arthex (U.S.), DePuy Synthes (U.S.), Stryker (U.S.), Conmed (U.S.), Medtronic, Inc. (U.S.), Zimmer Biomet (U.S.), B. Braun (Germany), Olympus (Japan), Karl Storz (Germany), Richard Wolf (Germany), Medicon (Germany), Sklar (U.S.), GPC Medical (India), Millennium (U.S.), and others.
Arthroscopy Instrument Market Segmentation
The Global Arthroscopy Instrument Market is segmented on the basis of product, application, and end-user. On the basis of product, the market is classified into arthroscope, arthroscopic implants, fluid management systems, visualization systems, radiofrequency system, power shavers and others. The arthroscopic implants are further segmented as knee implants, hip implants, shoulder implants, and others. The radiofrequency systems are further segmented as RF generators, RF probes, and wands and footswitch.
On the basis of application, the market is segmented into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder arthroscopy, and others (wrist and hand arthroscopy). On the basis of end-user, the market is segmented into hospitals, ambulatory surgical centers, and others.
Geographically, the global arthroscopy instrument market has been segmented into America, Europe, Asia Pacific, and the Middle East and Africa. The American arthroscopy instrument market is further segmented into North America and South America. North America is further classified as the U.S. and Canada.
The Europe arthroscopy instrument market is segmented into Western Europe and Eastern Europe. Western Europe is further classified as Germany, France, U.K., Italy, Spain, and Rest of Western Europe.
The Asia Pacific arthroscopy instrument market is segmented into Japan, China, India, Republic of Korea, Australia, and Rest of Asia Pacific.
The Middle East & Africa arthroscopy instrument market is segmented into the Middle East and Africa.
Regional Arthroscopy Instrument Market Summary
The Americas dominates the global arthroscopy instrument market owing to the presence of major market players, the high adoption rate of minimally invasive devices, and increasing incidences of joint-related diseases boost the market growth in this region. Further, according to the American Orthopedic Society for Sports Medicine, in the United States, an estimated 4 million people undergo knee arthroscopies, whereas the number of patients undergoing shoulder arthroscopies is 1.4 million per annum. Furthermore, rising cases in arthroscopic surgeries along with rising population awareness regarding health are driving the growth of the arthroscopy instruments market.
Europe holds the second position in the global arthroscopy instrument market. It is expected that the government support towards research & development expenditure and rising prevalence bone disorders is likely to drive the European market. According to the Arthritis Research U.K. in 2016, around 10 million people in the U.K. have a form of arthritis. Moreover, it was estimated that over 86,000 hip and over 90,000 knee replacements take place every year.
Asia Pacific is the fastest growing in the global arthroscopy instruments market owing to a huge patient pool, increasing demand for minimally invasive surgeries, and development in healthcare technology. According to Osteoporosis Australia, around 4.74 million Australians over 50 years of age are suffering from either osteoporosis or poor bone health. Which further fuels the need for arthroscopy surgeries. Healthcare expenditure is found to be improving in various Healthcare expenditure is found to be improving in various Asia Pacific regions. Moreover, the availability of skilled physicians and nurse practitioners and the low cost of surgeries have fueled medical tourism in India.
The Middle East and Africa holds the lowest share of the global market due to low development, lack of technical knowledge, and poor medical facilities.
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