Handheld Arthroscopic Instruments Global Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Handheld Arthroscopic Instruments Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The handheld arthroscopic instruments market size has grown strongly in recent years. It will grow from $3 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased government and private spending, increased use of disposable instruments, an increased focus on surgical efficiency, increased training and education for surgeons, and a rise in ambulatory surgical centers (ASCs).

The handheld arthroscopic instruments market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to a shift toward minimally invasive surgeries, the growth of ambulatory surgical centers, supportive regulatory frameworks, the evolution of surgical techniques, and the development of specialized instruments. Major trends in the forecast period include expansion of port infrastructure, emphasis on personalized medicine and patient-centric care, expanding applications in sports medicine, expansion of indications for arthroscopic surgery, and exploration of biocompatible materials.

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Market Drivers and Trends:

The growing number of knee implant patients is expected to propel the growth of the handheld arthroscopic instrument market going forward. Knee implant patients are individuals who have received an artificial knee joint through surgery to alleviate severe pain and restore function in a damaged or arthritic knee. The number of knee implant patients is growing due to an aging population, increased prevalence of osteoarthritis and other joint diseases, and advancements in surgical techniques that make the procedure more accessible and effective. Handheld arthroscopic instruments enhance knee implant procedures by allowing surgeons to perform minimally invasive surgeries with greater precision and a clearer view of the joint. For instance, in 2023, according to a report published by the Canadian Institute for Health Information, a Canada-based independent non-profit organization, there was a 4.6% increase in hip and knee revision surgeries compared to the previous year, with 8,942 procedures performed in 2021-2022, up from 8,548 in 2020-2021. Therefore, the growing number of knee implant patients is driving the growth of the handheld arthroscopic instrument market.

Major companies operating in the handheld arthroscopic instruments market are focusing on developing solutions with technological advancements, such as the 4K single-use surgical arthroscope, to enhance precision and improve patient outcomes. A single-use surgical arthroscope is a disposable device designed for one-time use in procedures, eliminating the need for cleaning and reducing the risk of infection. For instance, in November 2023, Pristine Surgical, a US-based medical technology manufacturer, launched its Summit 4K single-use surgical arthroscope, designed to enhance arthroscopic procedures with high-definition imaging and a sterile, ready-to-use format. This innovative device features 4K resolution and integrates with Pristine Connect, a cloud-based software for managing surgical images and inventory. The Summit arthroscope eliminates the challenges of cleaning and maintaining reusable scopes, offering a cost-effective subscription model for healthcare facilities.

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Major Key Players of the Market:

Johnson & Johnson Services Inc., Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, Smith & Nephew plc, B. Braun Medical Inc., Arthrex Inc., Teleflex Incorporated, KARL STORZ SE & Co. KG, Joint Engineering Inc., CONMED Corporation, KLS Martin Group, Richard Wolf GmbH, Reda Instrumente GmbH, Pioneer Healthcare Technologies Pvt. Ltd., TEKNO-MEDICAL Optik-Chirurgie GmbH, Hayden Medical Inc., Millennium Surgical Corp., Innomed Inc., M/S Devesh Meditech, Nebula Surgical Pvt. Ltd., Genuine Medica Pvt. Ltd., Sangam Surgical

Handheld Arthroscopic Instruments Market 2024 Key Insights:

• The handheld arthroscopic instruments market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Growing Number Of Knee Implant Patients Is Driving The Growth Of The Handheld Arthroscopic Instruments
• Technological Advancement To Drive Innovation In The Handheld Arthroscopic Instruments
• North America was the largest region in the handheld arthroscopic instruments market in 2023

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