Rise in technological advances and growing importance of sports activities among the young as well as the older generation has fuelled the growth of the arthroscopy devices market. According to the Center for Disease Control and Prevention (CDC), the high school athletes alone accounts for 2 million injuries, 50,000 doctor visits and 30,000 hospitalizations each year in the U.S. alone. Compounding this effect, the elderly and obese populations have been observed to be highly prone to degenerative diseases such as osteoarthritis, rheumatoid arthritis and other trauma injuries. Knee and shoulder arthroscopies are the most common procedures performed across the world in this class of surgeries. Stringent regulatory procedures for the approval of devices along with unfavorable reimbursement policies in developed countries have negatively affected the growth in these regions. On the other hand, a rise in disposable incomes in developing countries has boosted the confidence of OEMs towards these regions.
The arthroscopic procedures are mainly performed on knee and shoulder however, hip implants are also gaining popularity owing to technological advances in this sector coupled with rise in the geriatric patients being more prone to fall and trauma injuries. The arthroscopic procedure is minimally invasive in nature and has advantages such as shorter hospital stay, minimal incision, less post-surgical complications and shorter recovery time. These advantages attract patients to undergo this procedure.
The arthroscopic devices include arthroscopes (cameras), shavers, fluid management, radiofrequency systems and visualization systems. The arthroscopic implant accounted for the largest market and was valued to be around USD 2 billion in 2012. The arthroscopic visualization system market is expected to grow at the highest growth rate of more than 9% from 2013 to 2019. This market is followed by arthroscopic radiofrequency ablation system in terms of growth rate and is expected to reach a market size of more than USD 230 million by 2019. Whereas, the arthroscopic shavers market is estimated to have the slowest growth of the total arthroscopic devices market during the forecast period.
Geographically the North American market accounted for the largest share of arthroscopy devices of the global arthroscopy devices in 2012. This is followed by Europe and Asia. The Asian market is expected to foresee the highest growth in coming years of forecast. The major players of this market are Smith & Nephew, Conmed, Arthrex, Depuy Synthes and Stryker.
Arthroscopy is defined as the visualization of the internal structure of a joint conducted with the help of imaging equipments such as endoscopes. It is a minimally invasive procedure imperative for diagnosis and treatment of various joint diseases such as osteoarthritis, ligament tear, cartilage tear, rheumatoid arthritis and for the surgical removal of the fluid from the inflamed joint tissue. Arthroscopy is usually performed on the knee and the shoulder joint; however, others joints such as the wrist, ankle or hip joints may also be examined and tested with the help of an arthroscopic procedure. The rising geriatric population worldwide coupled with an accentuated demand for minimally invasive procedures has triggered the growth of this market. Moreover, a spurt of sport related injuries has created a considerable demand for arthroscopic procedures.
According to the American Orthopedic Society for Sports Medicine, approximately 4 million people undergo knee arthroscopies and 1.4 million shoulder arthroscopies are performed annually worldwide. The market for arthroscopy includes varied devices such as arthroscopic shavers, fluid management systems, implants, powered tools and other visualization systems. The report captures a market analysis for all the aforementioned products along with the latest technological advances and product enhancements in this sector. The market data provided for the arthroscopic devices market is for the period of 2013 - 2019, considering 2012 as the base year for calculation. In addition, the current market dynamics including drivers, restraints, trends and recent developments have been captured throughout the report.
Our geographic analysis chapter spans the major regions including North America, Europe, Asia and ROW (Rest of World). Similarly, market share analysis of the leading players has been provided in our chapter on competitive analysis. Our recommendation chapter provides a roadmap for market players, new entrants and suppliers to consider the success strategies and potential barriers of this market during the forecast period of 2013 - 2019. Some of the major players of this market include Stryker, Smith & Nephew, Arthrex, DePuy Synthes and othershave been covered. These market players have been profiled on the basis of attributes such as company overview, recent developments, strategies adopted by the market leaders to ensure growth, sustainability, financial overview and recent developments.