Arthroscopy Devices Market to Witness CAGR of 6.2% Increase in Value Share During the Forecast Period 2020 – 2026
Pune, Maharashtra, India, September 24 2020 (Wiredrelease) Allied Analytics –:Global Arthroscopy Devices 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 is a minimally invasive surgical procedure that helps surgeons examine and treat bone and joint related problems using an arthroscope and other arthroscopy devices (such as visualization systems, arthroscopic implants, power shaver systems, radiofrequency devices, and others). They are essential to diagnose and treat osteoarthritis, rheumatoid arthritis, carpal tunnel syndrome, bone tumor, and others. The market for arthroscopy devices has grown tremendously in the recent years due to increase in number of sport injuries, rapid ageing population and increase in patient preference for minimally invasive surgeries.
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Arthroscopic implants are anticipated to dominate the arthroscopy devices market throughout the analysis period accounting for over two-fifths of the total share in 2015. This is owing to the rapid adoption attributed by the fact that implants mimic real joint-movement and are imperative in supporting damaged bone by facilitating faster joint recovery.
Visualization systems segment is expected to be the fastest growing sector of the market owing to the incorporation of advanced technologies in visualization systems, for instance, arthroscopic cameras embedded with ultra-high definition and 4-light emitting diode (LED) multi-light technology, which enhances the video quality. The global visualization system market is expected to grow at a CAGR of 8.2% from 2016 to 2022.
Spine arthroscopy dominated the application segment with about two-sevenths share in 2015 growing at a CAGR of 6.2% from 2016 to 2022. Growth in number of spine ailments such as degenerative conditions of the spine, spine trauma, tumors, spinal deformity, and infection of the spine amongst all age groups drives the market growth.
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Key findings of the Arthroscopy Devices Market:
The knee arthroscopy market is anticipated to witness the fastest growth rate during 20162022.Visualization systems is projected to be the fastest growing segment during the analysis period.Knee implants dominated the arthroscopic implants market, and is expected to grow at a CAGR of 5.2% during the forecast period.North America dominated global arthroscopy devices market and is projected to grow at a CAGR of 5.4%.Spine arthroscopy application occupied nearly two-sevenths of the total market in 2015.India is the fastest growing country in Asia-Pacific region, registering a CAGR of 9.0% from 2016 to 2022.
In 2015, Asia-Pacific and LAMEA collectively accounted for one-fourth share of the total arthroscopy devices market and this trend is expected to continue due to rise in geriatric population & targeted diseases, specifically in China and India with large and other developing economies of the regions. Rise in sports as a career, surge in disposable income, improvement in healthcare funding, and high populace demanding more arthroscopic procedures fuel the growth of the arthroscopy devices market in the Asia-Pacific region.
The major companies profiled in the report 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., and Zimmer Biomet Holdings, Inc.
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