The APAC Region has Potential Growth Opportunities in the Global Arthroscopy Devices Market
The Global Arthroscopy Devices Market is expected to witness a CAGR of 6.6% to reach revenue of $5.8 billion by 2025
Bangalore, India, February 5, 2019 With its recently published study “Global Arthroscopy Devices Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the Global Arthroscopy Devices Market will grow steadily during the forecast period owing to a large number of new sales. The market is witnessing growth at a substantial rate, and an increase in the popularity of minimally invasive surgical procedures has increased the usage of arthroscopy devices globally. These devices have helped surgeons in treating various orthopedic conditions such as osteoarthritis, bone cancer herniated discs, and other joint-related orthopedic-targeted diseases. In recent years, arthroscopy devices have increased the interest of minimally invasive procedures; few of the popular methods among them include spine arthroscopy (decompression), knee arthroscopy, and hip arthroscopy. The rise in demand for orthopedic surgeries has made arthroplasty one of the major techniques and is further expected to reduce the cost, time, and complications.
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A majority of the orthopedic surgeries performed in recent times are minimally invasive and require minimal incision using a small paramedical instrument. The specially designed instruments such as arthroscopy systems, arthroscopes, arthroscopic fluid management systems, arthroscopic visualization systems, and radiofrequency systems have enhanced the operability during the procedure. Most of the leading orthopedic devices companies are leveraging the stakeholders to focus on groups to ensure value in the market. The feedback from the stakeholders plays a vital role in maximizing the impact of developing and expanding their business in the market from design phase to market approval. The stakeholders have substantial value and determine the real link between the business and cost of the products according to the customer’s perception.
The Global Arthroscopy Devices Market is analyzed based on four segments: product types, application types, end-users, and regions. The market, by product types, is segmented into arthroscopes, arthroscopic implants, arthroscopy visualization systems, arthroscopic shavers, arthroscopy radio frequency systems, and arthroscopy fluid management systems. The arthroscopy implants segment has the dominant market share due to the increased number of large joint replacements procedures. Hip, knee, shoulder, spine, and other implants are in high demand as they provide relief to chronic pain and complete reconstruction program. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are the leading countries. Europe is the second leading region with a maximum market share in the arthroplasty procedures. The market in Europe was largely driven due to advancements in novel (robotic navigation) technologies. The factors such as an increase in the prevalence of osteoporosis, continuous adoption of advanced minimally invasive surgeries, and increasing aging population are driving the market. The leading countries in the Europe region include Germany, France, UK, and Italy.
APAC has a strong focus in developing healthcare facilities and has supportive funds from the governments. Japan, India, China, Thailand, Vietnam, Singapore, Malaysia, and Indonesia are the key countries contributing to the growth of the market in this region. This region has potential opportunities in terms of sales, product base, collaborations, agreements, R&D manufacturing units, and clinical data.
Further, the rise in demand for minimally invasive surgeries, swiftly growing medical tourism industry, and investments in mid-tier hospitals from the government are driving the market growth. This has created opportunities for vendors to invest and establish manufacturing facilities and leverage their business. One of the primary challenges for most of the developing nations is that most of the healthcare facilities are unable to adopt high-end technologies and devices for various spine orthopedic surgeries due of the high cost involved with installation and maintenance.
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“Arthroscopic Techniques are minimally invasive and have gained popularity due to their sophisticated nature. These devices are more likely to reduce the time spent in hospitals and help in quick recovery. One of the most widely used devices is arthroscope, i.e., an optic fiber tube inserted into the target site allowing the surgeon to access, view, and perform the surgery. This is ideal for many orthopedic procedures such as removing torn cartilage, joint reconstruction, and smoothing bone defects. Minimal invasive procedures are overwhelming as they are easy with advanced arthroscopy fluid management systems having accurate control over the tools. The arthroplasty procedure includes both extensive operations and complex procedures followed by outpatient physiotherapy program for better post-operative treatment.” – Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research
Key Insights of the Report Include:
- Major Product Types
- Arthroscopy Implants
- Arthroscopy Visualization System
- Arthroscopic Shavers
- Arthroscopic Radiofrequency Systems
- Arthroscopy Fluid Management Systems
- Major Application Types
- Sports Medicine
- Key End-users
- Ambulatory Care
- Trauma Centers
- Key Regions
- North America
- Industry Outlook
- Market Trends
Ms. Sunanda Ganguli
Infoholic Research LLP