NEWARK, Del: , Nov. 01, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights’ latest industry analysis, the market size for the global arthroscopy visualization systems market is expected to reach US$ 453.8 Mn in 2022. It is projected to exhibit growth at a CAGR of 7.1% over the forecast period, with estimated market size of US$ 902.5 Mn in 2032.
The high demand for arthroscopy visualization systems due to an increase in arthroscopic surgical procedures has resulted in a growth in the demand for new, innovative solutions with distinctive features and USPs. FDA approvals must be obtained in order to guarantee the effectiveness and safety of new products and devices before they are developed and marketed. Therefore, it is anticipated to fuel market expansion in the projected years.
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The major factors driving the market's expansion are the aging population, which increases the prevalence of musculoskeletal conditions like osteoarthritis and rheumatoid arthritis, technological advancements, and an increase in sports injuries for which arthroscopy procedures can avoid total joint replacements.
According to CDC research, there are around 35 children who pass away in the US every day as a result of sports-related injuries. Children under the age of 19 are disproportionately affected, accounting for 9.2 million of these deaths.
The development of sporting activities has led to an increase in the number of young people participating in sports that cause accidents. According to the National Health Service (NHS), the majority of hip replacement surgeries are performed on patients between the ages of 60 and 80, since the elderly population has grown.
These factors thus present opportunities for the expansion of the overall arthroscopy visualization systems market.
Key Takeaways from Market Study
- Visualization systems are the leading segment as products, and hold approximately 48.8% market share in 2021, owing to the growing incidence of chronic illness & joint issues, particularly in the elderly population.
- Knee arthroscopy is the leading segment as application, and held about 30.7% market share in 2021, as the market has been driven by the rising incidence of osteoarthritis and the rise in sports-related injuries.
- Orthopedic clinics are the leading end-users, withholding about 31.1% of the total segment market share due to the presence of advanced healthcare facilities and patients’ preference for specialty clinics over other healthcare facilities.
- By region, North America is leading in the global arthroscopy visualization systems market, and is expected to continue to do so with a projected CAGR of 6.7% during the forecasted years.
“Increasing prevalence of osteoarthritis, and the technological advancements in arthroscopic visualization, are set to propel the sales of the arthroscopy visualization systems across the globe,” says an analyst of Future Market Insights.
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Market Competition
In order to stay competitive, key competitors are implementing strategies like new product launches, mergers and acquisitions, partnerships, and collaborations. Manufacturers of arthroscopy visualization systems should benefit financially from the growth of the soft tissue and anterior cruciate ligament repair markets.
- In February 2022, Stryker Corporation acquired a digital care coordination and communication company called Vocera Communications, Inc. With this acquisition, Stryker is enabled to progress its inventions, speed up its digital ambitions, provide safer patient care, and help clients achieve better results.
- In June 2022, The Stryker Global Technology Centre (SGTC), a new research and development facility, officially opened in Gurgaon's International Tech Park. The facility will serve the company's objective to improve healthcare, especially in the arthroscopy department by accelerating innovation both nationally and internationally.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the arthroscopy visualization systems market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The global arthroscopy visualization systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the product– (arthroscopes, visualization systems, and consumables & accessories), application- (knee arthroscopy, hip arthroscopy, shoulder arthroscopy, and others), and end user (hospitals, ambulatory surgical centers, orthopedic clinics, and others), across seven key regions of the world.
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Market Segments Covered In Arthroscopy Visualization Systems Market Analysis
By Product:
- Arthroscopes
- Visualization Systems
- Consumables & Accessories
By Application:
- Knee Arthroscopy
- Hip Arthroscopy
- Shoulder Arthroscopy
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmaps
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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About Healthcare Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Arthroscopy Procedure and Products Market: Arthroscopy Procedure and Products market to gain from favorable government policies intended to curb the incidence of osteoarthritis.
Endoscopy Visualization Systems Market: The global Endoscopy Visualization Systems Market is estimated to expand from a value of US$ 1.3 Bn in 2021, to a value of US$ 2.2 Bn by 2028 end, and growing at a CAGR of 7.2% during the forecast period.
Arthroscopy Devices Market: The arthroscopy devices market is projected to record US$ 5.61 billion in 2022 growing at a CAGR of 7.1% during the forecast period of 2022 to 2032.
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