Sophisticated radiofrequency systems employing wireless and USB technology have revolutionized minimally invasive surgeries by offering precise soft-tissue ablation, cutting of blood vessels, and hemostasis during arthroscopy procedures. This has led to increase in demand for radiofrequency systems to execute arthroscopy interventions.
Portland, OR -- (SBWIRE) -- 02/05/2018 -- An arthroscope is a medical device used to visualize, examine, and execute therapeutic interventions inside the joints of the body, such as knee, hip, spine, shoulder, elbow, and others.The Arthroscopy Devices Market is estimated to reach $5,334 million from $3,453 million and grow at a CAGR of 6.2% by 2022.
Arthroscopy devices are rapidly adopted to examine the bone joints for specific conditions, such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumor. The increase in prevalence of musculoskeletal disorders (osteoarthritis and rheumatoid arthritis) due to the rapidly ageing population is the prime factor to drive the demand for arthroscopy procedure. Moreover, the growth in number of sport injuries where arthroscopy procedure avoids the total joint replacements is anticipated to propel the market growth.
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Arthroscopy is a minimally invasive surgical procedure that helps surgeons examine and treat bone and joint related problems using an arthroscope and other arthroscopy devices (such as visualization systems, arthroscopic implants, power shaver systems, radiofrequency devices, and others). They are essential to diagnose and treat osteoarthritis, rheumatoid arthritis, carpal tunnel syndrome, bone tumor, and others. The market for arthroscopy devices has grown tremendously in the recent years due to increase in number of sport injuries, rapid ageing population and increase in patient preference for minimally invasive surgeries.
Key factors that boost the growth of global arthroscopy devices market are the benefits of arthroscopy devices including shorter recovery time, minimal post-operative complications, and greater precision to perform surgeries of highly sensitive areas such as spine. In addition, upsurge in obesity rate causing bone degradation in population and the rise in demand for arthroscopic treatment in emerging economies offer lucrative opportunities for the growth of this market. However, dearth of skilled professionals and high costs associated with arthroscopic devices especially the novel implants (biodegradable and 3D implants) impede the market growth.
Arthroscopic implants is anticipated to dominate the arthroscopy devices market throughout the analysis period accounting for over two-fifths of the total share in 2015. This is owing to the rapid adoption attributed by the fact that implants mimic real joint-movement and are imperative in supporting damaged bone by facilitating faster joint recovery.
Visualization systems segment is expected to be the fastest growing sector of the market owing to the incorporation of advanced technologies in visualization systems, for instance, arthroscopic cameras embedded with ultra-high definition and 4-light emitting diode (LED) multi-light technology, which enhances the video quality. The global visualization system market is expected to grow at a CAGR of 8.2% from 2016 to 2022.
Spine arthroscopy dominated the application segment with about two-sevenths share in 2015 growing at a CAGR of 6.2% from 2016 to 2022. Growth in number of spine ailments such as degenerative conditions of the spine, spine trauma, tumors, spinal deformity, and infection of the spine amongst all age groups drives the market growth.
In 2015, Asia-Pacific and LAMEA collectively accounted for one-fourth share of the total arthroscopy devices market and this trend is expected to continue due to rise in geriatric population & targeted diseases, specifically in China and India with large and other developing economies of the regions. Rise in sports as a career, surge in disposable income, improvement in healthcare funding, and high populace demanding more arthroscopic procedures fuel the growth of the arthroscopy devices market in the Asia-Pacific region.
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The major companies profiled in the report 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.