Arthroscopy Devices Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2030

The Arthroscopy Device Market size was valued at USD 4.53 billion in 2019 and is predicted to reach USD 7.97 billion by 2030 with a CAGR of 5.2% from 2020-2030.

Arthroscopy devices are used for the examination of joint related problems and diagnosis of various disorders such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumour among others. These devices help to visualize the interior part of joints with the help of a small camera that is inserted into the joints by the surgeon. This camera inserted inside the joint display’s pictures on a video monitor, which is further used by the surgeon to guide miniature surgical instruments.

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Competitive Landscape

The key players of arthroscopy devices market include Arthrex, Inc. Conmed Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Medtronic, Plc, Richard Wolf GmbH, Smith & Nephew, Plc, Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc. Other players in the value chain include Active implants, Bioventus, Breg, Cannuflow, Inc., DJO Global, Inc., Flexion Therapeutics, MinInvasive Ltd, NuOrtho Surgical, Inc., OrthoSpace, ROG Sports Medicine, Orthofix and others. Strategic alliances, acquisitions and innovations along with R&D are key strategies used by market players to maintain market dominance.

For instance, in April 2021, Orthofix signed an exclusive license agreement to commercialize IGEA's innovative bone, cartilage and soft tissue stimulation product portfolio in the United States and Canada. Also, in December 2020, Arthrex has released the SwiveLock ACL Repair Kit after receiving approval from the US Food and Drug Administration (FDA) for SwiveLock Anchors to repair ACLs. This is the first and only FDA approved kit for the repair of anterior cruciate ligament (ACL) rupture.

Market Dynamics and Trends:

The prime factor fuelling the market growth of arthroscopy devices is the increasing prevalence of musculoskeletal disorders like osteoarthritis and rheumatoid arthritis around the world. According to WHO, around 25% of the people who are older than 50 years, experience knee disorders. In addition, the growth in geriatric population has increased the demand for hip replacement and other orthopaedic surgeries, which in turn propels the growth of the market. Moreover, technological developments in arthroscopy devices such as high-definition video systems and improved knee replacement procedures are factors contributing towards the market growth during the forecast period.

However, high cost of arthroscopic implants or instruments is expected to restrain the market growth. On the other hand, the diverse applications of these devices with improved designs, such as smart and customized implants for the treatment of different conditions may create lucrative opportunities for the market players in the coming years.

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Market Segmentations and Scope of the Study:

The global arthroscopic devices market is categorized on the basis of product type, application, end users and geography. On the basis of product type, the market is divided into arthroscopic implants, arthroscopies, arthroscopy instruments and accessories, arthroscopy fluid management devices, arthroscopy radiofrequency devices, arthroscopy shaves and arthroscopy visualization devices. Based on application, the market is categorised into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot & ankle arthroscopy, shoulder & elbow arthroscopy and other arthroscopy applications (wrist and jaw). Based on end users, the market is categorized into hospitals, ambulatory surgical centres and orthopaedic clinics. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia and RoW.

Geographical Analysis:

At present, North America holds the lion share of the arthroscopic devices market. This is attributed to factors such as increasing prevalence of chronic and orthopaedic diseases and improvement in the health infrastructure. Additionally, rising number of accidents and sports injuries have led to increased number of arthroscopy procedures being performed in this region.

Europe is holding the second largest share of the market owing to the innovations in arthroscopy visualization systems and growing demand for knee and hip arthroscopy. Also, increasing incidents of sports injuries, growth in geriatric population and technological advancements in arthroscopic implants will help the market to grow at a faster rate.

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