Arthroscopy Devices Market With Major Key Companies Smith & Nephew, Olympus Inc., Karl Storz, Stryker Corporation, CONMED Corporation, Vimex Sp. z o.o. and DePuy Synthes Inc

Increasing incidence of joint replacement in North America is providing opportunity for the growth of arthroscopy devices market. According to Canadian Institute for Health Information (CIHI), around 113,000 knee and hip surgeries are performed in Canada annually. According to the same source, during the period 2009 to 2015, knee replacement surgery and hip replacements surgery increased by 20.3% and 20% respectively. According to Centers for Disease Control and Prevention (CDC), in the U.S. during 2013-2015 nearly 54.4million adults were diagnosed with arthritis and it is expected to reach 78.4million by 2040. These instances will increase the sale of arthroscopy devices in the near future. Moreover, incorporating different technologically features such as wireless camera heads and high-definition monitors will boost adoption of arthroscopy devices globally. Major players are offering customizable devices to doctors for enhancing its devices’ market presence. For instance, Olympus offers multi-specialty digital imaging platform to specialize each procedure along with maintained standards and enables healthcare professional to record, store and share high quality moving images.

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Furthermore, enhanced design of arthroscopic device with steam sterilization and complex cameras offered by companies such as Smith & Nephew helps in increasing aoption of such devices. The global arthroscopy devices market was valued at US$ 3,910.7 million in 2016 and is expected to witness a robust CAGR of 5.4% during the forecast period (2017 – 2025). According to the data of Ministry of Statistics and Programme Implementation, in 2016, 103 million people in India were over 60 years of age. Also, as per data published by Organization for Economic Co-operation and Development (OECD), the geriatric population accounted for 17.26% and 14.50% of the overall population in the U.K. and U.S., respectively in 2014 and the number is expected to steadily increase.

As the rate of knee replacement and hip replacement surgical procedures is high among the geriatric population, it is expected that the aging population will be the major factor for the growth of arthroscopy devices market in the near future. Continuous rise in aging population is the major factor leading to rise in arthroscopic surgery procedures around the globe. As per the stats published by Australian Commission on Safety and Quality in Health Care, in 2012-13, 33,682 patients aged over 55 years were admitted in hospitals for knee arthroscopy. Furthermore, according to the United Nations Department of Economic and Social Affairs (U.N. DESA), in 2015, 1 in 8 people were aged over 60 years, which is expected to increase to 1 in 6 people by 2030. It is expected that this high increase in aging population will support the growth in number of arthroscopic procedures worldwide. The technological advancements in arthroscopic devices such as high definition camera, LCD touch panel interface, deflectable tip and flexible endo-eye video scopes are also the factors supporting to increase the adoption of arthroscopy devices in healthcare facilities around the globe.

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