Arthroscopy Devices Market s expected to record a CAGR of 7.1% to reach a valuation of US$ 5.61 Billion by 2022
Arthroscopy Devices Market Overview
During the forecast period, the arthroscopic devices market is expected to record a CAGR of 7.1% to reach a valuation of US$ 5.61 Bn by 2022.
The arthroscopic devices market is expected to rise due to an increase in the frequency of sports injuries when an arthroscopy surgery might be used to avoid total joint replacements. One of the prime reasons driving the sales of arthroscopic devices is the rising frequency of bone-related and musculoskeletal ailments.
Arthroscopy devices are used to look for particular disorders including osteoarthritis, rheumatoid arthritis, tendonitis, and bone tumours in the joints. The rising prevalence of musculoskeletal problems as a result of the increasing ageing population is the primary driver of demand for arthroscopy devices operation.
The arthroscopic devices market is dominated by arthroscopic implants, which is projected to remain so during the forecast period.
This is due to the increased adoption of implants in arthroscopy procedures of damaged joints and demand for arthroscopic devices, as well as the diverse application of these implants with improved designs, such as smart and customised implants to treat various conditions and increased adoption of implants in arthroscopy procedures of damaged joints which has also resulted in increase of sales of arthroscopic devices.
What are the Key Drivers of the Arthroscopic Devices Market?
The arthroscopic devices market has emerged as one of the attractive industries in the medical equipment sector resulting in increased sales of arthroscopic devices. In the recent past, the arthroscopic devices market has seen major private equity transactions, several mergers and innovative product launches which acts as a key driver for arthroscopic devices market.
Rise of aging population along with advancement in technology especially in medical and healthcare sector is likely to fuel arthroscopic devices market. As consumers have become more health conscious and prefer high layout for orthopaedic treatments, arthroscopic devices market is likely to project a promising future i.e. increased demand for arthroscopic devices over the forecast period.
A growing geriatric population worldwide has boosted the demand for arthroscopic devices and treatment globally. Increasing use of robotics creates more potential for sales of arthroscopic devices market.
The demand for arthroscope implants has increased due to rise in hip arthroscopic surgeries.
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What is the Future of the Arthroscopic Devices Market?
Our experts deduced from a complete view of the arthroscopy devices market that the industry is developing at a phenomenal rate, with North America and Europe dominating the arthroscopic devices market.
The rising frequency of arthritis and sports injuries is expected to give substantial potential prospects for the key arthroscopic devices market players.
In addition, advancements in arthroscopy visualisation systems will help to the arthroscopic devices market’s growth. Furthermore, rising demand for knee and hip arthroscopy is expected to propel the sales of arthroscopic instruments market as well as the demand for arthroscopic devices forward.
Who are the Key Players in the Arthroscopic Devices Market?
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. are some of the major players in the arthroscopy devices market.
Active implants, Bioventus, Breg, Cannuflow, Inc., DJO Global, Inc., Flexion Therapeutics, MinInvasive Ltd, NuOrtho Surgical, Inc., OrthoSpace, ROG Sports Medicine, and others are among the value chain’s other arthroscopy devices market competitors.
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