Rise in global geriatric population and increasing adoption of technologically advanced arthroscopy tools and devices are the key factors contributing to market growth

Market Size – USD 4,571.3 Million in 2020, Market Growth - CAGR of 6.3%, Market Trends – Growing preferences for minimally invasive surgical procedures

The global arthroscopy market size is expected to reach USD 7,506.6 Million by 2028 at a CAGR of 6.3%, according to a new report by Reports and Data. The global market revenue is expected to grow at an exponential rate due to rapidly growing geriatric population, increasing number of arthroscopic procedures being performed worldwide, and rising prevalence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis. Growing incidences of road accidents and sports-related injuries, increasing preferences for minimally invasive surgeries and technological innovations in arthroscopic procedures are other key factors driving the global arthroscopy market to a major extent.
Arthroscopy is a minimally invasive surgical procedure for treatment of joint problems. This procedure helps in the diagnosis and treatment of joint problems and involves the use of a camera to take a close look at the affected joint areas including knee, shoulder, ankle, elbow, wrist, or hip. Arthroscopy is usually performed on an outpatient basis and is used to treat conditions such as loose bone fragments, damaged or torn cartilage, inflamed joint linings, torn ligaments, or scarring within joints. This surgical procedure allows surgeons to repair joint damage using pencil-thin surgical equipment inserted through small incisions.

Key companies profiled in the report include

Stryker, Arthex Inc., DePuy Synthes Co., Arthrotek Inc., Smith & Nephew, and ConMed Corp

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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Arthroscopy market.

The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.

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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.

The key geographical regions analyzed in the market report are:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Arthroscopy Market Segmentation based on Types:

Product Type Outlook (Revenue, USD Billion; 2020-2028)

Arthroscopic Implants
Arthroscopy Shavers
Visualization Systems
Fluid Management
Radio Devices
Arthroscopy Market Segmentation based on Application:

Application Outlook (Revenue, USD Billion; 2020-2028)

Knee
Shoulder
Spine
Hip
Wrist
Temporomandibular Joints
End-use Outlook (Revenue, USD Billion; 2020-2028)

Hospitals
Ambulatory surgical centers and clinics
Others
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Some Key Highlights in the Report:

Based on product type, the arthroscopic implants segment is expected to reach the highest market share over the forecast period. Increasing number of arthroscopic surgeries, growing incidences of knee and hip joint disorders, and rising adoption of biodegradable arthroscopic implants due to reduced infection risks are the major factors responsible for the growth of this segment.
Based on application, the knee arthroscopy segment leads in terms of revenue in the global arthroscopy market. Rising prevalence of degenerative knee disease among the geriatric population, rise in cases of road accidents and sports injuries, and increasing number of arthroscopic knee surgical procedures are the major parameters driving this segment’s growth significantly.
Based on end-use, the global arthroscopy market is segmented into hospitals, ambulatory surgery centers and clinics, and others. The hospitals segment is the leading end-use segment, with the highest CAGR in 2020. This segment’s growth is attributed to increasing incidences of joint disorders, rise in accident cases, and escalating number of arthroscopic surgeries being performed in hospitals.
Among the key regional markets, North America is the most dominant and accounted for the highest revenue share in 2020. Increasing incidences of road accidents and sports injuries and surging adoption of technologically enhanced arthroscopic instruments including high-power surgical instruments, fluid management systems, advanced endoscopes, and high-resolution cameras are expected to bolster market growth in North America.
The arthroscopy market in Asia Pacific is projected to display the fastest revenue growth rate of 7.2% over the forecast period. Growing geriatric population, rapidly increasing patient pool, and growing medical tourism in the region are the pivotal factors accelerating the Asia Pacific market growth.
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