Non-invasive Prenatal Testing Market: Better Accuracy and Short Duration of Procedure Augmenting Global Market Size

Arthroscopic Visualization Instrument Market Outlook 2031

-The global arthroscopic visualization instrument market was valued at US$ 2.1 Bn in 2022
-The global market is projected to grow at a CAGR of 4.1% from 2022 to 2031
-The global arthroscopic visualization instrument market is anticipated to reach more than US$ 3.2 Bn by 2031

Arthroscopic Visualization Instrument Market Introduction

Arthroscopy is a type of minimally invasive surgery used for joint problems diagnosis and treatment. It allows a surgeon to look inside the joint without a large incision. Surgeons can even repair joint damage at a certain point during arthroscopy using pencil-thin surgical devices that are inserted through extra-small incisions. In this procedure, the surgeon inserts a narrow tube attached to a fiber-optic video camera through a small incision. The view inside the joint is transmitted to a high-definition video monitor.

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Rise in Demand for Minimally Invasive Surgeries Augmenting Arthroscopic Visualization Instrument Market

Increase in demand for minimally invasive surgeries, surge in sports injuries, rise in prevalence of chronic arthritis, and rapidly aging global population are expected to drive the market during the forecast period. Minimally invasive surgeries offer various advantages such as minimal incision; lesser post-surgical complications, trauma, and discomfort; and shorter recovery time and hospital stay. These advantages prompt patients to increasingly opt for minimally invasive surgeries. According to a report published by Harvard Health, around 750,000 arthroscopic knee operations are performed in the U.S. each year.

Increase in Awareness About Arthralgia and Rise in Prevalence of Rheumatoid Arthritis Fueling Global Market

Arthralgia is a term used to describe aching or pain in one or more joints in the body. Increase in arthralgia awareness among individuals is driving the market, as seropositive arthralgia patients prefer to undergo needle arthroscopy and synovial biopsy of a knee joint for treatment. High prevalence of rheumatoid arthritis is also expected to aid in the arthroscopic visualization instrument market growth during the forecast period. Arthritis is one of the leading causes of disability in the U.S. According to the Centers for Disease Control and Prevention, around 67 million individuals in the U.S. aged above 18 years are projected to be diagnosed with arthritis by 2030.

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COVID-19 Impact on Global Arthroscopic Visualization Instrument Market

Outbreak of the COVID-19 pandemic adversely affected the global arthroscopic visualization instrument market in 2020. The unprecedented pandemic has largely affected North America and Europe. The arthroscopic visualization instrument industry is concentrated in these regions and witnessed a decrease in demand for instruments and consumables & accessories. The pandemic had a significant impact on sales of several manufacturers in 2020, as hospitals and surgery centers deferred non-urgent surgeries. Orthopedic surgery sales increased in 2021 compared to that in 2020, as procedure volumes gradually returned to normal levels in 2021.

Rise in Adoption of Arthroscopes Across Globe

In terms of product type, the global arthroscopic visualization instrument market has been segmented into arthroscopes, visualization systems, and consumables & accessories. The arthroscopes segment held the largest share of the market in 2021 and is expected to maintain the status quo during the forecast period. Arthroscopes play an important role in the treatment of knee joint surgeries and shoulder surgeries, with several advantages such as fewer complications and trauma; faster recovery; and lesser scarring.

The consumables & accessories segment is likely to grow significantly during the forecast period, owing to the increase in usage of arthroscopic visualization consumables and accessories. Powered arthroscopic gadgets, which include shavers and burrs, are commonly used in all kinds of arthroscopy procedures.

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Growth in Prevalence Knee Osteoarthritis Fueling Knee Arthroscopy Segment

Based on application, the global arthroscopic visualization instrument market has been classified into knee arthroscopy, hip arthroscopy, shoulder arthroscopy, and others. The knee arthroscopy segment held major share of the market in 2021, led by the increase in adoption of arthroscopic visualization instruments in knee arthroscopic procedures. Around 250 million individuals are affected by knee osteoarthritis worldwide. Additionally, the number of older people with osteoarthritis has been rising in all regions of the world.

Increase in Number of Hospitals Across Globe

In terms of end-user, the global arthroscopic visualization instrument market has been segmented into hospitals, ambulatory surgery centers, and others. The hospitals segment held the largest share of the market in 2021. Growth of the segment can be ascribed to the increase in number of hospitals and arthroscopic procedures performed in them. According to the American Hospital Association, the number of hospitals in the U.S. rose from 5,564 in 2017 to 6,093 in 2022. As per the World Health Organization, there were approximately 15,000 hospitals in Latin America and the Caribbean in 2017. This number has increased to more than 19,000 to date.

Regional Outlook of Global Arthroscopic Visualization Instrument Market

According to the arthroscopic visualization instrument market analysis, North America accounted for significant share of the global market in 2021. The U.S. Federal Government offers significant funding and support for orthopedic treatment and management through various associations such as the American Orthopedic Society for Sports Medicine, Arthritis Foundation, and Arthroscopy Association of North America. The U.S. is the largest market in the world for arthroscopy devices due to an encouraging environment created by the U.S. FDA and intense R&D efforts put in by manufacturers in the country.

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According to the arthroscopic visualization instrument market forecast, the market in Asia Pacific is expected to grow at the fastest rate during the forecast period. This can be ascribed to the expansion of the medical tourism market in the region. Rise in awareness about sports-related injuries, increase in geriatric population, and growth in disposable income in emerging economies are also expected to fuel the market in Asia Pacific.

Analysis of Key Players in Global Arthroscopic Visualization Instrument Market

The arthroscopic visualization instrument market report concludes with the company profiles section that includes key information about major players in the global market. Key players are adopting strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to sustain in the market. Expansion of the soft tissue market and anterior cruciate ligament repair market is anticipated to offer lucrative opportunities to manufacturers of arthroscopic visualization instruments. Arthrex GmbH, B. Braun Melsungen AG, CONMED Corporation, Medtronic plc, Millennium Surgical Corp, Richard Wolf GmbH, Lazurite Holdings LLC, Smith & Nephew plc, and Stryker Corporation are prominent players operating in the global market.

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