PUBLISHER: The Insight Partners | PRODUCT CODE: 1095008
PUBLISHER: The Insight Partners | PRODUCT CODE: 1095008
The arthroscopy devices market is projected to reach US$ 9,853.88 million by 2028 from US$ 5,725.24 million in 2021; it is expected to register a CAGR of 8.1% from 2021 to 2028.
Major factors driving the arthroscopy devices market growth include the growing prevalence of musculoskeletal disorders, rising number of sports injuries requiring arthroscopy procedure to prevent complete joint replacement, and rising elderly population are driving the market. However, the high cost of arthroscopy devices hampers the silicone based catheters market growth.
Arthroscopy is a procedure for diagnosing and treating joint problems. A surgeon inserts a narrow tube attached to a fiber-optic video camera called an arthroscope through a small incision about the size of a buttonhole. An arthroscope is a medical device that allows doctors to see within bodily joints such as the knee, hip, spine, shoulder, and elbow to inspect, diagnose, and perform therapeutic procedures. Arthroscopy devices can examine illnesses like osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumors in the joints
Musculoskeletal disorders (MSDs) are the most common condition around the globe. According to data published by the World Health Organization (WHO), in February 2021, approximately 1.71 billion individuals worldwide will suffer musculoskeletal problems and lower back pain is a widespread musculoskeletal condition, affecting 568 million people worldwide. Low back pain is the major cause of impairment in 160 countries, with musculoskeletal disorders being the leading cause of disability. Musculoskeletal disorders severely impair mobility and dexterity, resulting in early retirement from work, decreased well-being, and diminished ability to participate in society. The number of people disabled by musculoskeletal conditions has been growing, and this trend is expected to continue in the next decades.
Furthermore, according to the same source (WHO), high-income countries are the most affected in terms of population (441 million), followed by countries in the WHO Western Pacific Region with 427 million, while South-East Asia has 369 million. Musculoskeletal diseases are also the leading cause of years lived with disability (YLDs) worldwide, accounting for roughly 149 million YLDs, or 17% of all YLDs. Furthermore, according to the same source (WHO), low back pain is the leading cause of musculoskeletal disorders. Fractures, which affect 436 million people worldwide, osteoarthritis (343 million), other injuries (305 million), neck pains (222 million), amputations (175 million), and rheumatoid arthritis (14 million) are all factors in the overall burden of musculoskeletal diseases.
For individuals with chronic joint pain and dysfunction, surgical arthroscopy is a well-established therapy option. When compared to open joint procedures, arthroscopy is less invasive and results in better overall patient outcomes in terms of symptom treatment, hospital stay, structural recovery, and long-term outcomes. Thus, growing prevalence of musculoskeletal disorders osteoarthritis and rheumatoid arthritis is expected to drive the market in the forecast period.
The arthroscopy devices market, based on product, is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopic equipment. In 2021, the arthroscopes segment held the largest share of the market and is expected to register the fastest CAGR of 9.1% during the forecast period.
The arthroscopy devices market, based on application, is segmented into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, and others. In 2021, the hip arthroscopy segment held the largest share of the market and is expected to report the highest CAGR of 8.9% during 2021-2028.
Arthrex, Inc.; CONMED Corporation; Johnson and Johnson Services, Inc.; KARL STORZ SE & Co. KG; Medtronic; Richard Wolf GmbH.; Smith & Nephew; Stryker Corporation; Zimmer Biomet; and NuVasive, Inc. are among the leading companies operating in the arthroscopy devices market
National Federation of State High School Associations (NFHS), Canadian Institute of Health Information (CIHI), Organisation for Economic Co-operation and Development (OECD), International Osteoporosis Foundation (IOF), Australian Orthopedic Association National Joint Replacement Registry (AOANJRR), Australian Bureau of Statistics (ABS), and World Health Organization (WHO) are among the major secondary sources referred to while preparing the report on the arthroscopy devices market.
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