Arthroscopy Devices Market by Product Type (Arthroscopes, Arthroscopic Implants, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shavers, and Others), by Application (Knee Arthroscopy, Shoulder Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, and Others), and by End-User (Hospitals, Ambulatory Surgical Centers (Ascs), Specialty Clinics, Orthopedic Centers, and Others)– Global Opportunity Analysis and Industry Forecast 2024-2030
Industry: Healthcare | Publish Date: 04-Apr-2024 | No of Pages: 458 | No. of Tables: 249 | No. of Figures: 219 | Format: PDF | Report Code : N/A
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Market Definition
The Arthroscopy Devices Market size was valued at USD 6.39 billion in 2023 and is predicted to reach USD 10.23 billion by 2030 with a CAGR of 7.0% from 2024-2030.
Arthroscopy devices refer to a range of medical equipment and tools specifically designed for arthroscopic procedures. These devices are essential for orthopedic surgeons and healthcare professionals to perform minimally invasive surgeries on joints. They include arthroscopes, specialized cameras, surgical instruments, fluid management systems, and other equipment necessary for visualizing and treating joint-related issues. Arthroscopy devices play a crucial role in improving patient outcomes, reducing recovery time, and enhancing the efficiency of orthopedic procedures.
Market Dynamics and Trends
The rising geriatric population across the globe is driving the growth of the arthroscopy devices market. According to the latest report published by the World Health Organization, by 2030, 1.4 billion people will be above the age of 60, and by 2050, this number is anticipated to reach 2.1 billion.
As the number of older adults increases, there is a corresponding rise in age-related orthopedic conditions, such as osteoarthritis and joint injuries, leading to greater demand for arthroscopy devices. Moreover, the increasing investments in healthcare infrastructure, particularly in emerging economies, are leading to greater accessibility to advanced surgical technologies, thereby boosting the growth of the arthroscopy devices market.
According to the latest report published by the World Health Organization, investment in the development of the healthcare sector and advancement in healthcare equipment reached USD 9.8 trillion in 2021, and it is expected to continue growing at a significant rate in the foreseeable future.
With such an increase in investment, healthcare facilities in emerging economies are equipped with state-of-the-art equipment, including arthroscopy devices, improving healthcare access and driving market growth. However, the high costs associated with arthroscopic procedures and devices limit access to these minimally invasive surgical techniques, restraining the growth of the market.
On the contrary, the introduction of robotics-assisted arthroscopic devices is anticipated to create ample opportunities in the growth of the market in the coming years. Robotics-assisted arthroscopic devices offer improved dexterity, stability, and precision during surgery. These systems are expected to assist surgeons in performing delicate maneuvers with enhanced accuracy, reducing the risk of human error and optimizing surgical outcomes.
Market Segmentation and Scope of Study
The Arthroscopy Devices Market is segmented on the basis of type, application, end-user, and region. On the basis of type, the market is divided into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, powered shavers, and others. On the basis of application, the market is classified into knee arthroscopy, shoulder arthroscopy, hip arthroscopy, spine arthroscopy, and others. On the basis of end-user, the market is segmented into hospitals, ambulatory surgical centers (ascs), specialty clinics, orthopedic centres, and others. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America dominates the global arthroscopy devices market and is expected to remain dominant throughout the forecast period. The growing prevalence of chronic and orthopedic diseases in North America is driving the growth of the arthroscopy devices market.
According to the latest report published by the Centers for Disease Control and Prevention in 2022, around 53.2 million people in the U.S. have some form of arthritis, rheumatoid arthritis, gout, lupus, or fibromyalgia. This increasing incidence of orthopedic conditions in this region is driving the demand for advanced diagnostic and treatment options, including arthroscopy procedures, contributing to the expansion of the arthroscopy devices market.
Moreover, the presence of key market players such as plays an important role in the growth of the arthroscopy devices market. For instance, in March 2024, Medtronics plc partnered with OBERD to introduced the UNiD ePRO service in the U.S to streamline data collection for spine surgeons, enhancing patient outcomes. By integrating with existing Electronic Medical Record (EMR) systems, the UNiD ePRO service offers a seamless experience for users, improving response rates and providing valuable insights for clinical decision-making.
On the other hand, the increasing number of elderly individuals in the Asia-Pacific region, who are susceptible to various orthopedic conditions, is driving market growth. According to the latest report from the Asia Development Bank, it is projected that by 2050, one in four people in the Asia-Pacific region will be over the age of 60. This demographic shift is contributing to the rising demand for orthopedic treatments and solutions.
Moreover, the increasing prevalence of orthopedic conditions in the Asia-Pacific region is further driving the demand for arthroscopy devices in this region. According to the latest report published by the World Health Organization, approximately 369 million people in the Southeast Asia region have some form of orthopedic condition in 2022, driving the demand for advanced diagnostic and treatment solutions, including arthroscopy devices in the Asia-Pacific region.
Competitive Landscape
The Arthroscopy Devices Market includes several market players such as Richard Wolf GmbH, Medtronic plc, Johnson & Johnson, Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., CONMED Corporation, Smith & Nephew plc, Karl Storz GmbH & Co. KG, and Wright Medical Group N.V. among others. These market players are adopting various strategies such as innovation and collaboration to maintain their dominance in the global smart appliances market.
For instance, in November 2023, Johnson & Johnson MedTech launched the OTTAVA robotic surgical system for FDA approval and clinical trials. Through this launch, the company aims to to create space in the operating room (OR), simplify complex workflows, enable flexibility for clinical approaches, and deliver the trusted performance of Ethicon** instrumentation.
Moreover, in November 2022, Richard Wolf GmbH partnered with Arthrex to offer comprehensive technology and product offerings in urology, gynecology, and general surgery. Through this partnership, the companies aim to provide a complementary line of surgical solutions for urology, gynecology, and general surgery in a single package including operating room integration, 4K image clarity with fluorescence imaging, advanced insufflation, specialized manual instrumentation, and flexible imaging.
Furthermore, in April 2021, Smith & Nephew plc launched the DOUBLEFLO◊ Inflow/Outflow Pump and 4KO (Optimized) Arthroscopes and Laparoscopes. These new devices can be remotely controlled using the LENS Connected Tower App and offer heads-up display projection on the arthroscopic tower, aiming to enhance patient outcomes.
Key Benefits
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The report provides quantitative analysis and estimations of the Arthroscopy Devices Market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep-dive analysis of the Arthroscopy Devices Market including the current and future trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on the Arthroscopy Devices Market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
Key Market Segments
By Product Type
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Arthroscopes
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Arthroscopic Implants
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Fluid Management Systems
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Radiofrequency Systems
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Visualization Systems
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Powered Shavers
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Others
By Application
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Knee Arthroscopy
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Shoulder Arthroscopy
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Hip Arthroscopy
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Spine Arthroscopy
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Others
By End-User
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Hospitals
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Ambulatory Surgical Centers (Ascs)
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Specialty Clinics
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Orthopedic Centers
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Others
By Region
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North America
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The U.S
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Canada
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Mexico
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Europe
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The UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
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RoW
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 6.39 Billion |
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Revenue Forecast in 2030 |
USD 10.23 Billion |
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Growth Rate |
CAGR of 7.0% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
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Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
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Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Richard Wolf GmbH
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Medtronic plc
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Johnson & Johnson
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Stryker Corporation
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Arthrex, Inc
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Zimmer Biomet Holdings, Inc.
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CONMED Corporation
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Smith & Nephew plc
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Karl storz GmbH & Co. KG
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Wright Medical Group N.V.
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