It’s being expected that by 2028, the Arthroscopy market cap will hit US$ 10,135.8 Mn at a CAGR growth of about 4.9%.
Arthroscopy is a medical process through which doctors can easily diagnose and detect issues with joints. Professionals use special Arthroscopy devices which have a camera head, which helps them see any issues in the bones or joints like rheumatoid arthritis, osteoarthritis, bone tumor and tendinitis. Arthroscopy market size is growing owing to the large number of musculoskeletal disorders happening across the swiftly ageing population. Arthroscopy devices are used in MI surgical procedure which is used in reconstruction of anterior cruciate ligament (ACL). It is used in treatment of hyaline cartilage, synovium, ligaments and fibrocartilage.
Arthroscopy market trend studies indicate rise in market owing to increased occurrence of joint related issues, caused due to ageing process, sports injuries or accidents. Sprain, dislocation and fractures are some of the most commonly occurred injuries due to sports or accidents. Identify the intensity of injury and providing appropriate treatment is possible through Arthroscopy. Some of the commonly occurred injuries like shoulder, knee, elbow, hip, ankle or wrist injuries and ligament injuries, inflammation of joints, removal of loose fragments of bone, osteoarthritis are where arthroscopy procedure might be required. Recent studies have indicated increased number of participation in the sports by children and youth. With the increased active participation there is a resultant increase in the number of sports injuries too. These are some factors that has caused rise in demand of Arthroscopy market size.
The growing development in technology and science is a leading Arthroscopy market trend and there is a high demand from various users across the world, for latest procedures. There is an increased awareness among people about the new procedures involved in various healthcare segments. And they are opting to take undergo these procedure in the event of any injuries or mishaps. However, the cost involved in Arthroscopy procedures is huge and also involves after-care to a large extent. The cost varies depending on various factors like age of patient, severity of injury and the hospital where the procedure is performed. The cost involved in the same might be a reason that would hamper the growth of Arthroscopy market size.
Segmentation of Arthroscopy market size is done on the basis of application and regions. Segmentation on the basis of application is done as Specialty orthopedic centers, Hospitals, and Ambulatory Surgery Centers (ASCs). Among these the hospitals sector contributes the maximum to the Arthroscopy market share. Segmentation on the basis of geography is done as Americas, Asia Pacific and Europe Middle East and Africa. America contributes maximum to the Arthroscopy market share owing to increased orthopedic surgeries happening in the country. Also, APAC region is seeing growth in the sector due to the increased and active participation in sports from developing countries like India and China.
Some of the key players of Global Arthroscopy market are Arthrex, Olympus, Stryker and Smith and Nephew among other popular names.
The various segments of the Global Arthroscopy market are:
- Specialty orthopedic centers
- Ambulatory Surgery Centers (ASCs)
- Asia Pacific
- Europe Middle East and Africa