ESOMAR-certified consulting firm Future Market Insights, in its updated report, projects a steady growth of the arthroscopy procedures and products market between 2021 and 2031. The market is expected to reach a valuation of approx. US$ 6488.4 Mn in 2021.
Rising prevalence of knee osteoarthritis among geriatric population and increasing number of knee arthroscopy conducted worldwide have augmented the market growth. Increasing application in sports medicine, and ease in regulatory approval such as the U.S. Food & Drug Administration are the factors driving growth.
Due to the non-invasive nature and benefits of arthroscopy, patients suffering from severe osteoarthritis are preferring knee arthroscopy, which is accelerating the market growth.
Growing incidence of osteoarthritis across the U.S., Germany, the UK, and China have propelled the adoption of knee arthroscopy surgeries in those regions.
With such rising statistics, healthcare professionals and government are increasing the initiatives to provide rehabilitation and facilities to curb the additional cost. Based on such factors, the market is anticipated to witness healthy growth at over 7.7% CAGR during 2021 and 2031.
However, increasing risk of edema and other infections such as blood clots in the joints might restrict the market growth. Also, high cost of surgery and procedures across low economies such as Brazil, India and other countries in Latin America will hamper the market growth.
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Key Takeaways from FMI’s Arthroscopy Procedures and Products Market Study
- In terms of procedure type, knee arthroscopy will account for over 50% of the global market share
- Arthroscopic implants segment will account for highest share of the arthroscopy procedures & products market during the forecast period
- The U.S. will emerge as the most lucrative market backed by the rising prevalence of degenerative disease among geriatric population
- Germany and the U.K., collectively, will emerge as the most lucrative market across Europe in the upcoming decade
- Japan is anticipated to emerge as a lucrative market backed by the high prevalence of rheumatoid arthritis and osteoarthritis among elderly
“Increasing prevalence of osteoarthritis and growing degenerative disease among elderly population have encouraged the leading players to engage in research & development activities to develop advanced procedure & instrument for non-invasive surgeries,” says the FMI analyst.
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Competitive Landscape
Prominent players in the market are focusing on strategic mergers and collaboration to expand their global footprint in the market.
New product launches coupled with increasing research & development activities for the development of advanced arthroscopy instruments & devices will also be one of the key strategy to enhance their customer base for market players.
For instance, couple of years back, leading player, Smith & Nephew entered into a distribution agreement with OrthAlign, a U.S. based private company to develop medical devices and distribute their Total-Knee Arthroplasty (TKA) technology across several countries in Africa and Middle East.
Also, in 2018, Ceterix® Orthopedics, Inc., a leader in the development of cutting-edge surgical tools for orthopedic surgeons announced the U.S. Food and Drug Administration (FDA) 510(k) clearance of NovoStitch® Pro Meniscal Repair System – a size 0 suture cartridge – offering surgeons more options to repair meniscal tears for arthroscopic surgeries.
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- Arthroscopes and Visualization Systems
- Arthroscopic Resection Systems
- Arthroscopic Fluid Management Systems
- Arthroscopic Implants
- Knee Implants
- Shoulder Implants
- Hip Implants
- Other Implants
- Arthroscopy Radiofrequency (RF) Systems
- Arthroscopic Drills and Fixation Systems
- Other Arthroscopy Instruments and Accessories
By Procedure Type:
- Shoulder Arthroscopy
- Hip Arthroscopy
- Knee Arthroscopy
- Elbow Arthroscopy
- Small Joints Arthroscopy
- Others
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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