Demand of Arthroscopy Products to Grow by 1.9X as Musculoskeletal Conditions Become More Common in Aged Population

Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest survey conducted by Fact.MR, the global arthroscopy products market is poised to reach US$ 6.2 billion in 2021.

Arthroscopic Implants to Outpace Sales of Other Arthroscopy Products, Accounting for Over 66% of Demand in 2021

Fact.MR’s latest report presents analysis of prevailing trends and opportunities influencing the demand outlook for arthroscopy products market. It classifies the market on the basis of product and procedure. The report also offers comprehensive overview of the competitive landscape, covering competition mapping and benchmarking.

Fact.MR – A Market Research and Competitive Intelligence Provider: As per the latest survey conducted by Fact.MR, the global arthroscopy products market is poised to reach US$ 6.2 billion in 2021. Growing acceptance and rising customer preference for minimally-invasive surgeries using arthroscopic devices is favoring the growth. Driven by this, the market is projected to top US$ 11.7 billion by the end of the next ten years.

Historically, sales of arthroscopy products grew at 3.7% CAGR from 2016 to 2020. Surging application of these products and procedures in sports medicine and increasing cases of knee, shoulder, and hip injuries across the aged population are anticipated to push the sales in the arthroscopy products market at 6% CAGR over the forecast period 2021-2031.

The market is largely driven by the rising prevalence of musculoskeletal disorders such as osteoarthritis, tendinitis, rheumatoid arthritis, bone fractures, and others. According to a study by the World Health Organization (WHO), around 1.71 billion people across the globe were reported to be incurring musculoskeletal conditions in 2021. As these arthroscopy products assist in the diagnosis and treatment of the aforementioned condition, the rising incidence of these ailments is expected to propel the demand at 1.9X through 2031.

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Arthroscopic implants are increasingly being adopted for treating knee and shoulder ailments owing to their attributes such as the requirement of a small size of incisions for the procedure, less scarring post-surgery, and reduced risk of infection. On account of this, the Fact.MR states that arthroscopic implants are predicted to account for nearly 66.1% of the overall sales in 2021.

“Leading manufacturers are emphasizing on developing novel arthroscopic devices integrated with advanced technologies such as high-definition cameras to improve visualization, offer superior suturing techniques, and customized suturing materials for specific medical applications. These efforts are expected to favor the market growth in the forthcoming years,” says a Fact.MR analyst.

Key Takeaways from Arthroscopy Products Market Study

  • The U.S. is projected to lead the market in North America, accounting for more than 94% of the value share in the region by the end of 2021.
  • Favored by the growing preference for minimally invasive surgeries in the country, Germany is forecast to account for nearly 33.9% of the demand share across the Europe market in 2021.
  • China is anticipated to emerge as the most lucrative market in South Asia, growing at a staggering CAGR of 9% during the assessment period.
  • Due to the increasing prevalence of rheumatoid arthritis and osteoarthritis in India, the market for arthroscopy products in East Asia is expected to expand at a CAGR of 7.6% through 2031
  • Among the procedure verticals, the knee arthroscopy procedure is estimated to dominate the segment, accounting for nearly 46.9% of the total sales in 2021.

Key Drivers

  • Rising cases of musculoskeletal conditions and increasing government funding for life science research along with ease in the U.S. Food and Drug Administration (FDA) clearance for novel products are propelling the demand for arthroscopy products.
  • Increasing advancements in arthroscopes and visualization systems coupled with a high prevalence of knee injuries amongst the sports persons and aged population across Germany, the U.K., the U.S., China, and India are driving the knee arthroscopy procedure segment sales.

Key Restraints

  • High cost of treatment for musculoskeletal diseases and lack of awareness pertaining to effective therapies are hampering the growth of the market.
  • Availability of alternative treatment procedures such as knee replacement surgery and rising demand for non-surgical treatment methods are the factors hindering the sales of arthroscopy products.

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Competitive Landscape

As per Fact.MR, leading manufacturer arthroscopy products in the global market are Stryker Corporation, Arthrex Inc., ConMed Corporation, Johnson & Johnson, and Karl Storz SE & Co. KG.

Companies are focusing on developing advanced and innovative products by extensively investing in research and development (R&D) activities to gain a competitive edge. Some of the key players are aiming at engaging into strategic collaboration, merger, and acquisition to expand their product portfolio and increase their market share. For instance,

  • In December 2020, Arthrex Inc., a global medical device company headquartered in the U.S., announced launching the first and only FDA-cleared primary repair kit, SwiveLock® ACL for repairing anterior cruciate ligament (ACL) tears. The product launched has assisted the company to expand its market share due to increasing application on sport medicine.
  • In February 2018, Johnson & Johnson Medical Devices, announced acquisition of Orthotaxy, a privately-held software-enabled surgery technology developer, including differentiated robotic-assisted surgery solutions. The acquisition will help the company to broaden its application in a range of orthopedic surgery procedures.

Some of the key players in the market profiled by Fact.MR are:

  • Arthrex Inc.
  • Conmed Corporation
  • Johnson & Johnson
  • KARL STORZ GmbH & Co. KG
  • Olympus Corporation
  • Richard Wolf GmbH
  • Stryker Corporation
  • Smith & Nephew plc
  • Zimmer Biomet Holdings
  • Stryker Corporation
  • Medtronic plc
  • B Braun Melsungen AG

More Valuable Insights on Arthroscopy Products Market

Fact.MR, in its new report, offers an unbiased analysis of the global arthroscopy products market, analyzing statistics through 2021 and beyond. The survey reveals growth projections on arthroscopy products market with detailed segmentation:

·By Product

  • Arthroscope and Visualization Systems
  • Arthroscopic Resection Systems
  • Arthroscopic Fluid Management Systems
  • Arthroscopic Implants
  • Arthroscopic RF Systems
  • Arthroscopic Drills and Fixation Systems
  • Other Arthroscopy Instruments & Accessories

·By Procedure

  • Shoulder Arthroscopy
  • Hip Arthroscopy
  • Knee Arthroscopy
  • Elbow, Wrist, Digits & Ankle Arthroscopy

Key Questions Covered in the Arthroscopy Products Market Report

  • The market survey highlights projected sales growth of the arthroscopy products market between 2021 and 2031
  • The report also offers insight into arthroscopy products demand outlook for 2021-2031
  • Arthroscopy products market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
  • Arthroscopy products market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

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Source: Fact.MR