The Global Arthroscopy Devices Market was valued at US$ 3,910.7 million in 2016 and is projected to expand at a CAGR of 5.4% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increasing number of knee implantation and hip implantation procedure is supporting growth of the arthroscopy devices market.
Arthroscopy being a minimally invasive surgery, significantly reduces patient recovery time, decreases chances of infection during surgical procedure, and curtails bleeding during surgery. Being a largely outpatient surgical procedure, the patient needs to stay in the hospital for just a few days, with the procedure itself lasting for a few hours. Therefore, the preference for arthroscopic procedures is increasing instead of general/open surgical procedure. Furthermore, wide adoption of technologically advanced implants such as cementless prosthetics are also supporting growth in number of people opting for such implantations. The other factors related to the growth of implantation are alarming increase in rate of road accidents and growing obese population worldwide leading to the growth of knee pain, fractures and osteoarthritis which also known as degenerative joint disease.
As per the stats published by Centers for Disease Control and Prevention, around 54.4 million people in U.S. were suffering from some form of arthritis and rheumatoid arthritis in 2013-2015. This number is expected to increase to around 78 million by 2040. Therefore, it is estimated that this factors will support the growth of arthroscopy devices market in the near future.
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The prevalence rate of arthritis is increasing steadily. According to the data published by the Arthritis Foundation, in the U.S., 1 in 4 adults were affected by arthritis and the prevalence rate of arthritis increased by 22.7% during 2010-2012. Furthermore, the prevalence of severe joint pain, especially among people of age 64 and above was 27% in 2016.
Also, as per the Arthritis Foundation, in the U.S., the number of adults suffering from severe joint pain was 10.5 million in 2002, which increased to 14.6 million in 2014.
Moreover, increasing number of arthroscopy procedures due to sport injuries is another factor driving growth of arthroscopy devices market. Arthroscopy surgery is the most preferred treatment for sports related injuries by athletes and sportspersons due to less recovery time associated with this treatment method. For instance, as per the stats published by the Orthopedic Institute, Stuart Gold, M.D., Inc., over 600,000 arthroscopy surgeries are performed every year out of which 80% are knee arthroscopy surgeries. Arthroscopic knee surgery is commonly used for the treatment of patella-femoral syndrome.
Key players operating in the arthroscopy devices market are developing products by integrating the latest technologies into it. For instance, Vimex Sp. z o.o., a leading arthroscopy device manufacturing company, introduced wireless footswitch, which helps in operating the shaver during surgical procedure. Moreover, the shaver automatically gets connected with the hand piece and set of the previously used instruments and has rotation modes including counter-wise and counter-clockwise, which helps in increasing the efficiency of the instrument during procedure.
Key takeaways of the market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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