A recent report published by Infinium Global Research on arthroscopy device market provides in-depth analysis of segments and sub-segments in global as well as regional arthroscopy device market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional arthroscopy device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global arthroscopy device market. According to the report the global arthroscopy device market is projected to grow at a CAGR of 5.70% over the forecast period of 2018-2024.
The diagnosing and treating of internal structures of the body is known as arthroscopy. The devices used for examination are known as arthroscopy devices. A minimally invasive procedure is performed by using a small tube attached to a fiber-optic video camera through an incision. Arthroscopy device is the use during surgical procedures to treat done disorder and joint problems such as the knee, wrist ankle, shoulder, hip, and elbow related disorders. Arthroscopy device is generally used by orthopedic doctors.
Arthroscopy device includes arthroscopy implants, arthroscopes & visualization systems, arthroscopy resections, arthroscopy radio frequency systems, and arthroscopy fluid management. Arthroscopy implant is expected to be the largest market among the other device types. The arthroscopy device is mainly used by hospitals and ambulatory surgery centers, diagnostic centers and independent clinics. The application of this device is more in the hospital and ambulatory surgery centers for procedures. Thus hospital and ambulatory surgery centers account for the largest share in the market during the forecast period.
The rise in the occurrence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis due to the rise in geriatric population worldwide is the significant factor to drive the demand for arthroscopy devices. Increasing sports activities and rise in a number of sports injuries is another factor that will fuel the growth of this market. From 2013-2015, around 54.4 million adults in the U.S. were diagnosed with arthritis and the number is predicted to reach 78.4 million by 2040 says centers for disease control and prevention (CDC). Moreover, low risks of post-operation infections and faster recovery time, patients and physicians prefer arthroscopy products and procedures. The growing need for joint replacement is likely to drive the growth in this market. On the other hand, the lack of skilled professionals and disapproving compensation policies are likely to hamper the growth of the market.
Among the regions, North America is expected to be the largest market for arthroscopy device. The technology advancement and developed healthcare infrastructure are this regions are likely to drive the growth of the market, Moreover, the rise in geriatric population in this region and increase in a number of sports activities is likely to boost the growth in North America region. Europe is the second largest market of the arthroscopy device market. The growth in the Asia-Pacific region is driven the emerging countries such as China and India. The high occurrence of musculoskeletal disorders, and a strong medical device manufacturing sector in China is likely to boost the growth in the market.
The report on global arthroscopy device market covers segments such as devices type and end user. On the basis of devices type the global arthroscopy device market is categorized into arthroscopy implants, arthroscopes & visualization systems, arthroscopy resections, arthroscopy radio frequency systems, and arthroscopy fluid management. On the basis of the end user, the global arthroscopy device market is categorized into hospitals and ambulatory surgery centers, diagnostic centers and independent clinics.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and rest of the world. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global arthroscopy device market such as Johnson & Johnson, Medtronic, PLC, Arthrex, Inc., Richard Wolf GmbH, KARL STORZ GmbH & Co. KG, Stryker Corporation, Smith & Nephew, PLC, Zimmer Biomet Holdings, Inc, Wright Medical Group N.V. and Others.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global arthroscopy device market. Moreover, IGR-Growth matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of arthroscopy device market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the arthroscopy device market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the arthroscopy device market to understand the present and future trends in this market and formulate their strategies accordingly.