Arthroscopic Devices Market

Arthroscopic Devices Market Outlook (2022 - 2029)

An arthroscope is a medical instrument used to view, evaluate, and treat the joints of the body, such as the knee, hip, spine, shoulder, and elbow. Arthroscopy devices can examine for problems including osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumors in bone joints. The market for arthroscopic devices is expected to grow due to an increase in the number of sports injuries when arthroscopy surgery may be employed to prevent complete joint replacements. The increased prevalence of bone-related and musculoskeletal complications is one of the primary factors driving arthroscopic devices’ sales. The global arthroscopy devices market is estimated to be worth $7,264.8 million in 2022 and is expected to witness a CAGR of 4.9% from 2022 to 2029, reaching $10,135.8 million by 2029.

Arthroscopic Devices Market Demand Analysis (2014-2021) v/s Market Outlook (2022 - 2029)

Due to the rising geriatric population, the prevalence of musculoskeletal illnesses such as osteoarthritis and rheumatoid arthritis boosts the demand for arthroscopy treatments. Furthermore, the rise in the frequency of sports injuries necessitating arthroscopy procedures to avoid total joint replacements drives the arthroscopy devices market forward. Furthermore, favorable reimbursement policies in developed countries and increased medical tourism in developing countries for cost-effective treatments and expanding healthcare infrastructure are likely to promote global market growth. The arthroscopic implants are likely to continue with their dominance in the global arthroscopy devices market throughout the forecast period.

Key Drivers to the Arthroscopic Devices Market

Increasing Geriatric Population and High Frequency of Joint Replacement Surgery

The arthroscopy devices market is expanding due to the rising demand for joint replacement surgeries. Furthermore, the growing geriatric population is a significant factor driving growth of the global arthroscopy devices market, leading to an increase in knee and joint problems among the older population. According to the World Health Organization, there were 1 billion people aged 60 and more in 2019, and that number is anticipated to rise to 1.4 billion by 2030 and 2.1 billion by 2050. As the number of people suffering from musculoskeletal diseases rises, so will the demand for arthroscopy devices in the near future.

Rising frequency of sports injuries

The arthroscopy devices market is dominated by sports and the other physical activities in which injuries are frequent. Arthroscopy is turning out to be favored over traditional operations due to benefits such as reduced muscle injury, faster recovery, and faster rehabilitation. Arthroscopic devices for treating sports injuries are expected to present significant opportunities to key players in the market. The rising number of cases of sports injuries will fuel the growth of the arthroscopy devices market throughout the forecast period.

Increased R&D Activities and Technological Advancements

The increased demand for arthroscopy devices has resulted in an increase in R&D activities. Manufacturers are developing arthroscopic devices with high-definition cameras, improved suturing techniques, and customized suturing materials to improve visualization. Furthermore, significant developments in sports medicine and the creation of technologically enhanced product variants are creating a positive market future. Extensive research and technological advancements in medical devices will accelerate the growth rate of the arthroscopy devices market in the near future.

Increased Preference for Minimally Invasive Treatment Procedures

The general public has a growing preference for minimally invasive (MI) treatment procedures, which has contributed to an increase in the use of arthroscopy devices. Arthroscopy is being preferred over traditional operations due to benefits such as reduced muscle injury, faster recovery, and faster rehabilitation. The increasing preference for minimally invasive treatment procedures will drive market growth throughout the forecast period.

Restraints to the Arthroscopic Devices Market

“High Cost and Lack Of Skilled Professionals”

Arthroscopic devices are very expensive and out of reach for people with average and poor incomes. Another factor impeding the growth of the arthroscopic devices market is the high costs associated with arthroscopic devices, which include infrastructure and training expenditures. In addition, a scarcity of skilled professionals will be a big problem for the growth of the global arthroscopic devices market.

“Stringent Rules and Manufacturing Issues”

One of the primary factors impeding the growth of the arthroscopic devices market is the strict FDA rules and regulations. The increasing frequency of recalls by the US FDA due to product failures, component inconsistencies, or compromised sterility concerns is impeding the market growth. Apart from that, serious flaws in manufacturing processes uncontrolled and inadequate storage conditions, increase the risk of contamination and may result in patient infection. As a result, manufacturing issues or product failures are projected to hamper the growth of the arthroscopic devices market.

Impact of COVID-19 on Arthroscopy Devices Market

During the Covid-19 pandemic, the demand for medical supplies skyrocketed. To fulfil the increasing demand for medical supplies such as masks, gloves, and protective spectacles, manufacturers halted or reduced the production of Arthroscopic Devices and began the production of PPEs to ensure a consistent supply in the market. Furthermore, due to government-issued strict lockdowns and guidelines, non-essential treatments and operations were halted or postponed, resulting in a decrease in demand for Arthroscopic Devices. The COVID-19 pandemic had a significant impact on the arthroscopy devices market, but it recovered after the situation improved.

Competitive Landscape

The arthroscopy devices market is highly competitive and consists of a number of major players. Manufacturers of arthroscopic devices are focusing on expansion of their manufacturing facilities to improve production capabilities. To increase their global market presence, market leaders are engaging in various product launches and development activities focusing on orthopedic surgical treatments.

Arthroscopic Devices Market Industry Report Scope

Arthroscopic Devices Market Categorization

Arthroscopic Devices Market by End User

• Hospitals
• Ambulatory Surgical Centers
• Orthopedic Clinics

Arthroscopic Devices Market by Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

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