The Infinium Global Research analyzes the Arthroscopy Device Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global arthroscopy device market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of arthroscopy device. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the arthroscopy device market during the period. The global arthroscopy device market is projected to grow at a CAGR of 5.70% over the forecast period of 2018-2024.
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The diagnosing and treating of internal structures of the body is known as arthroscopy. The devices used for examination are known as arthroscopy devices. A minimally invasive procedure is performed by using a small tube attached to a fiber-optic video camera through an incision. Arthroscopy device is the use during surgical procedures to treat done disorder and joint problems such as the knee, wrist-ankle, shoulder, hip and elbow related disorders. Arthroscopy device is generally used by orthopedic doctors.
Arthroscopy device include arthroscopy implants, arthroscopes & visualization systems, arthroscopy resections, arthroscopy radiofrequency systems, and arthroscopy fluid management. Arthroscopy implant is expected to be the largest market among the other device types. The arthroscopy device is mainly used by hospitals and ambulatory surgery centers, diagnostic centers and independent clinics. The application of this device is more in the hospital and ambulatory surgery centers for procedures. Thus hospital and ambulatory surgery centers account for the largest share in the market during the forecast period.
Osteoarthritis and Rheumatoid Arthritis Due to the Rise in Geriatric Population Worldwide is the Significant Factor to Drive the Demand for Arthroscopy Devices
The rise in the occurrence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis due to the rise in the geriatric population worldwide is a significant factor to drive the demand for arthroscopy devices. Increasing sports activities and a rise in the number of sports injuries is another factor that will fuel the growth of this market. From 2013-2015, around 54.4 million adults in the U.S. were diagnosed with arthritis and the number is predicted to reach 78.4 million by 2040 say Centers for Disease Control and Prevention (CDC).
Moreover, low risks of post-operation infections and faster recovery time, patients and physicians prefer arthroscopy products and procedures. The growing need of joint replacement is likely to drive growth in this market. On the other hand, lack of skilled professionals and disapproving compensation policies are likely to hamper the growth of the market.
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North America is Expected to Be the Largest Market for Arthroscopy Device
Among the regions, North America is expected to be the largest market for arthroscopy device. The technology advancement and developed healthcare infrastructure is this region is likely to drive the growth of the market, Moreover, the rise in geriatric population in this region and increase in the number of sports activities is likely to boost the growth in North America region. Europe is the second-largest market of the arthroscopy device market. The growth in the Asia-Pacific region is driven the emerging countries such as China and India. The high occurrence of musculoskeletal disorders and a strong medical device-manufacturing sector in China is likely to boost the growth in the market.
Segments Make up the Arthroscopy Device Industry
The report on global arthroscopy device market covers segments such as, devices type and end-user. On the basis of devices type the global arthroscopy device market is categorized into arthroscopy implants, arthroscopes & visualization systems, arthroscopy resections, arthroscopy radiofrequency systems and arthroscopy fluid management. On the basis of end-user the global arthroscopy device market is categorized into hospitals and ambulatory surgery centers, diagnostic centers and independent clinics.
Key Players in the Arthroscopy Device Market
The report provides profiles of the companies in the global arthroscopy device market such as, Johnson & Johnson, Medtronic, Plc, Arthrex, Inc., Richard Wolf GmbH, KARL STORZ GmbH & Co. KG, Stryker Corporation, Smith & Nephew, Plc, Zimmer Biomet Holdings, Inc, Wright Medical Group N.V. and Others.
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- Comprehensive analysis of global as well as regional markets of the arthroscopy device.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.