Arthroscopy Procedures and Products Market Expected to Grow at a CAGR of 5.7% during 2015 to 2023
Arthroscopy is a minimally invasive procedure for visualisation, diagnosis and treatment of joint problems. During arthroscopy procedure, surgeons inserts an arthroscope, which is a fibre-optic video camera, through a keyhole size incision. It allows arthroscopists to view inside the joint through a high-definition video monitor and determine the amount or type of injury, and further perform arthroscopy without the need of a large incision. An arthroscopy is used to treat a range of problems, such as damaged cartilage and fragments of loose bone or cartilage, as well as conditions such as arthritis and frozen shoulder or carpal tunnel syndrome.
The Arthroscopy Procedures and Products market is segmented as follows:
- By Product Type
- By Procedure Type
- By Region
This report covers the global arthroscopy procedures and products market performance in terms of revenue contribution. The report also includes FMI’s analysis of key trends, drivers, restraints and opportunities that are influencing the global arthroscopy procedures and products market currently. Impact analysis of key growth drivers and restraints is included in this report to better equip clients with crystal-clear decision-making insights.
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By product type, the global arthroscopy procedures and products market is segmented into arthroscopes and visualization systems, arthroscopic resection systems, arthroscopic fluid management systems, arthroscopic implants, arthroscopy radiofrequency (RF) systems, arthroscopic drills and fixation systems and other arthroscopy instruments and accessories. The arthroscopic implants segment is further sub-segmented into knee implants, shoulder implants, hip implants and other implants. The arthroscopic implants product type segment currently accounts for the highest revenue share of the arthroscopy procedures and products market, and is expected to remain the leading segment in terms of value during the forecast period. Increase in clinical evidences related to the safety, efficacy and economic benefits of arthroscopic implants in younger patients is expected to further boost growth of arthroscopic implants segment over the forecast period.
In terms of procedure type segmentation, knee arthroscopy segment is expected to hold more than half the global market share, and the revenue from the segment is projected to expand at the highest CAGR over the forecast period as compared to other segments.
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By region, North America is the largest market in terms of value currently and is expected to retain its position through the forecast period. Increasing number of ambulatory surgical centres, developing techniques and equipment, and increasing usage of arthroscopic instruments used in hips, shoulders, ankles and wrists procedures are factors expected to boost growth of the North America market over the forecast period. Markets in the Americas and Europe collectively accounted for over 75% revenue share of the global arthroscopy procedures and products market in 2015. The market in APAC region is projected to exhibit an above average CAGR in terms of value during the forecast period from 2015 to 2023. Increase in preference of arthroscopic surgeries and technological advancements in arthroscopic instruments are factors expected to fuel demand for arthroscopy products over the forecast period.
Key market players covered in this report are Arthrex, Inc., CONMED Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH and Stryker Corporation. Collaboration with partners to maintain market leadership in sports medicine in different regions, engaging in R&D activities that focus on orthopaedic surgical treatments, leveraging core expertise to strengthen business plans and acquisitions to strengthen the arthroscopy manufacturing business units in order to enhance market foothold over the next four to five years are the key strategies adopted by the arthroscopy products manufacturers.
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