Arthroscopic Chondroplasty Market to Reap Excessive Revenues by 2025
Cartilage also provide cushioning to the bones and acts as a shock absorber for the joint during rigorous activities like jumping and running. Since the cartilage do not have any direct blood supply, factors like pressure activities, trauma, diseases or age can sometime lead to wear and tear of the cartilage. Severe damage to the cartilage can cause swelling, pain, popping and locking of the joint, and can lead to osteoarthritis. Chondroplasty is the procedure to repair this damaged cartilage. In arthroscopic chondroplasty, a small incision is made in the knee and the damaged cartilage is inspected using a small surgical camera called arthroscope which allows the surgeons to clearly view surgical site without making large cuts or incisions in the knee. The damaged part of the cartilage are then removed using special tools and cartilage surface is smoothened using surgical ablation devices. Healthy cartilage then grows to replace the damaged parts.
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The global Arthroscopic Chondroplasty Market is expected to grow at a swift speed due to a number of factors. The steep rise in the number of trauma cases, industrial accidents, and sport-related injuries is one of the major factors driving the global arthroscopic chondroplasty market. With the increasing consciousness about the importance of physical activity for a healthy lifestyle, the number of sport related injuries is also increasing exponentially across the globe. According to the ‘National Health Statistics Reports’ published in November 2016, by the Center for Disease Control and Prevention (CDC) titled ‘Sports and Recreation-related Injury Episodes in the United States, 2011–2014’, an estimated 8.6 million such injuries are reported annually in the US.
Increasing prevalence of obesity is also driving the global arthroscopic chondroplasty market. Growth in the global geriatric population susceptible to joint problems is also expected to drive the market during the forecast period. A report published by the Population Division of the Department of Economic and Social Affairs of the United Nations (UN) in 2013 stated that, the number of elderly persons (aged 60 years or over) is estimated to more than double, from 841 million in 2013 to over 2 billion in 2050. Technological advancements and convenience of being a minimally invasive procedure is also expected to increase the demand for arthroscopic chondroplasty during the forecast period. However, poor or absence of proper reimbursement for innovative technologies, particularly in developing countries, can negatively affect the growth of the market.
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In terms of geography, the arthroscopic chondroplasty market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are projected to remain the dominant markets for arthroscopic chondroplasty due to the high spending on healthcare, increase in the orthopedic procedures, growth in prevalence of obesity, and introduction of technologically advanced products in the region. Asia Pacific is expected to expand at a high CAGR owing to the rising demand for arthroscopic chondroplasty in developing nations.
Key players operating in the arthroscopic chondroplasty market include B. Braun Melsungen AGDePuy Synthes (J&J), NuOrtho Surgical, Inc., Smith & Nephew plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Osiris Therapeutics, Inc., ISTO Technologies, Inc., and Sklar Surgical Instruments.
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