May 23, 2022 08:44 ET | Source: The Insight Partners The Insight Partners
New York, May 23, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Arthroscopy Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Arthroscopic Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shaver Systems, and Other Arthroscopy Instruments) and Application (Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot and Ankle Arthroscopy, Shoulder and Elbow Arthroscopy, and Others)”, the global arthroscopy devices market growth is driven by the growing prevalence of musculoskeletal disorders osteoarthritis and rheumatoid arthritis, rising number of sports injuries requiring arthroscopy procedure to prevent complete joint and rising elderly population, the increasing prevalence of obesity and rising number of product launches and approvals. However, the high cost of arthroscopy devices hampers the market growth. Medtronic Laparoscopic Camera
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Arthroscopy Devices Market: Competitive Landscape and Key Developments Arthrex, Inc.; CONMED Corporation; Johnson and Johnson Services, Inc.; KARL STORZ SE & Co. KG; Medtronic; Richard Wolf GmbH.; Smith & Nephew; Stryker Corporation; Zimmer Biomet; and NuVasive, Inc are among the leading companies operating in the global arthroscopy devices market. These players focus on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
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In February 2022, Formus Labs—a New Zealand-based start-up that makes fully automated 3D orthopedic surgery planning software—announced that it had raised US$ 5 million and struck a partnership with Zimmer Biomet for co-development and global distribution of its technology.
In January 2018, Heraeus Holding GmbH announced the availability of the PALACOS portfolio of bone cement products directly through its affiliate Heraeus Medical LLC in the US. The company can now provide its customers with earlier access to its latest innovations by selling to them directly.
In 2020, North America dominated the arthroscopy devices market. The US holds the largest share of the market in this region. The market growth in the country is attributed to the increasing prevalence of osteoporosis, rising innovations in bone cement, rising geriatric population, and increasing visits to the emergency department for the diagnosis of a fracture in the region.
The US has one of the highest costs of arthroscopy devices globally. The United Statesis home to the world’s leading multinational corporations such as DePuy Synthes (The Orthopedics Company of Johnson & Johnson); Zimmer Biomet; Stryker Corporation; and Arthrex, Inc. It tends to have the most cutting-edge technology. All this contributes to higher market growth in the region. According to a survey from the Centers for Disease Control and Prevention, on average, 3.5 million to 4.4 million people visit the emergency room each year with fractures. Annual healthcare expenses for osteoporotic treatment fractures range from US$ 17 million to US$ 20 billion.
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Growing Number of Orthopedic Surgeries Boosts Arthroscopy Devices Market Growth: The growing number of orthopedic procedures worldwide is boosting the growth of the market for bone cement. Due to an increase in the number of road accidents and various forms of injuries, surgeries are constantly increasing. A growing number of bone-related disorders, such as knee discomfort and joint pain in the elderly, are also included. Furthermore, as per the WHO, high-income countries are the most affected in terms of population (441 million), followed by countries in the WHO Western Pacific Region with 427 million, while Southeast Asia has 369 million. Musculoskeletal diseases are also the leading cause of years lived with disability (YLDs) worldwide, accounting for roughly 149 million YLDs, or 17% of all YLDs. Fractures, which affect 436 million people worldwide, osteoarthritis (343 million), other injuries (305 million), neck pains (222 million), amputations (175 million), and rheumatoid arthritis (14 million) all contribute to the overall burden of musculoskeletal diseases.
Surgical arthroscopy is a well-established therapy option for individuals with chronic joint pain and dysfunction. Compared to open joint procedures, arthroscopy is less invasive and results in better overall patient outcomes in symptom treatment, hospital stay, structural recovery, and long-term outcomes. Thus, the growing prevalence of musculoskeletal disorders, osteoarthritis, and rheumatoid arthritis is expected to drive the market during the forecast period.
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Arthroscopy Devices Market: Segmental Overview Based on product, the arthroscopy devices market is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopic equipment. In 2021, the arthroscopes segment held the largest share of the market by product. The same segment is expected to grow at the fastest CAGR from 2021 to 2028.
Based on application, the arthroscopy devices market is segmented into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, and others. In 2021, the hip arthroscopy segment held the largest market share by application. The same segment is anticipated to grow at the fastest CAGR from 2021 to 2028.
The COVID-19 pandemic placed a tremendous strain on healthcare systems globally. According to the WHO, the demand for diagnostic and therapeutic devices increased dramatically in hospitals as the chaotic situation erupted in the healthcare sector. Many health authorities shifted their focus on pandemic-related care in 2020. They postponed elective surgeries, suspended outpatient clinics, and triaged employees involved in urgent care to lower the disease transmission rate at hospitals.
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Orthopedic surgeons have seen major effects on their ability to offer timely and high-quality surgical care, training, and research due to these changes. Even when hospitals resumed elective surgeries, cases were prioritized based on clinical urgency, causing severe delays in regular and time-sensitive elective care for orthopedic patients. Like practicing physicians and their patients, medical trainees were adversely affected by changes in healthcare delivery and education due to the COVID-19 pandemic. The COVID-19 pandemic negatively affected patients with osteoarthritis (OA) irrespective of their contracting the infection. Patients with OA had a disruption in access to the healthcare system, which resulted in delays in joint replacement surgeries due to cancellations of elective surgical procedures.
Browse Adjoining Reports: Arthroscopy Procedures and Products Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Arthroscope And Visualization Systems, Arthroscopic Resection Systems, Arthroscopic Fluid Management Systems, Arthroscopic Implants, Arthroscopy Radiofrequency (RF) Systems, Arthroscopic Drills and Fixation Systems, Others); Procedure (Shoulder Arthroscopy, Hip Arthroscopy, Knee Arthroscopy, Elbow Arthroscopy, Small Joints Arthroscopy, Others)
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Arthroscopy Instruments Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Fluid Management Systems, Arthroscopic Implants, Arthroscopes, Visualization Systems, Motorized Shavers, Radiofrequency (RF) Ablation Systems); Applications (Shoulder Arthroscopy, Knee Arthroscopy, Others); End user (Hospitals, Ambulatory Surgical centers, Others) and Geography
Arthroscopy Forceps Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Straight, Curved); Application (Hospital, Clinic, Others) and Geography
Musculoskeletal Diseases Treatment Market to 2025 - Global Analysis and Forecasts by Disease (Arthritis, Osteoarthritis, Osteoporosis, Spondylitis, and Others); Imaging Modality (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, and Others) and Geography
Osteoarthritis Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Treatment (Drugs, Assistive Devices); Disease (Knee Osteoarthritis, Spine Osteoarthritis, Foot and Ankle Osteoarthritis, Shoulder Osteoarthritis, Hand Osteoarthritis); End User (Hospital Pharmacies, Retail pharmacies, Drug Stores, E-commerce.)
Knee Osteoarthritis Treatment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Treatment Type (Non-Surgical Treatment, Surgical Treatment); End-user (Hospitals, Ambulatory Surgical Centers, Specialty Clinics) and Geography
Medical Cannula Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Vascular Cannula, Nasal Cannula, Cardiac Cannula, Arthroscopy Cannula, Dermatology Cannula, Others); Material (Latex, Latex-Free, Neoprene); End User (Hospitals, Ambulatory Surgical Centers, Clinics, Others), and Geography
Orthopedic Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Joint Reconstruction, Spinal Devices, Trauma Fixation, Orthopedic Prosthetics, Arthroscopy Devices, Orthopedic Braces and Supports, Orthopedic Accessories, and Other Products), Application (Spine Orthopedics, Knee Orthopedics, Hip Orthopedics, Craniomaxillofacial Orthopedics, Dental Orthopedics, and Sports Injuries, Extremities and Trauma (SET) Orthopedics), End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Other End Users)
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