LOS ANGELES, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The Global Arthroscopy Market Size accounted for USD 10.4 Billion in 2021 and is estimated to garner a market size of USD 19.1 Billion by 2030 rising at a CAGR of 7.3% from 2022 to 2030.
Arthroscopy Market Report Key Highlights
- Global arthroscopy market value was USD 10.4 Billion in 2021 and expected to grow at CAGR of 7.3% from 2022 to 2030
- As per American Academy of Orthopedic Surgeons report, approximately 4 million knee arthroscopy surgeries are performed worldwide
- North America arthroscopy market share occupied over 40% market share in coming years
- Asia-Pacific arthroscopy market growth to rise with quickest CAGR over the projected years from 2022 to 2030
- Among product, arthroscope implants occupied over 35% of the overall market share in 2021
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Report Coverage:
| Market | Arthroscopy Market | |
| Arthroscopy Market Size 2021 | USD 10.4 Billion | |
| Arthroscopy Market Forecast 2030 | USD 19.1 Billion | |
| Arthroscopy Market CAGR During 2022 - 2030 | 7.3% | |
| Arthroscopy Market Analysis Period | 2018 - 2030 | |
| Arthroscopy Market Base Year | 2021 | |
| Arthroscopy Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product, By Application, And By Geography | |
| Arthroscopy Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Arthrex GmbH, CONMED Corporation, DePuy Synthes (Johnson & Johnson Family), Smith & Nephew plc, Stryker Corporation, Zimmer Biomet, and BioTek Instruments, Inc. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
The leading arthroscopy market trend driving industry growth is the increasing number of arthroscopic procedures. Annually, approximately 1.6 million shoulder arthroscopic procedures are performed, according to the American Orthopedic Society for Sports Medicine. The volume of arthroscopic procedures is expected to increase significantly with the integration of several technological advances and the introduction of improved versions.
Some of the Key Observations Regarding Arthroscopy Industry Include
- In December 2020, Arthrex GmbH announced the release of a new product, the SwiveLock® ACL Repair Kit. The product is then cleared by the US Food and Drug Administration (USFDA). It is the first and only FDA-approved kit for repairing anterior cruciate ligament (ACL) tears.
- DePuy Synthes announced the launch of the Truespan meniscal repair system in May 2018, a knee arthroscopy solution designed to simplify meniscal repair and make arthroscopy surgeries more reproducible in the Middle East, Africa, and Europe
- Stryker Corporation announced collaboration in December 2017 to provide high-quality, innovative biologics for sports medicine procedures. The collaboration motivates the companies to make joint commitments to better serve customers, help patients in need, and fully honor the gift of tissue donation.
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Arthroscopy Market Segmentation
The arthroscopy market is divided into product and application segments. The market is divided into four product categories: ablation systems, powered shaver systems, arthroscopies, visualisation systems, arthroscopy implants, fluid management systems, and accessories and disposables. Hip arthroscopy, knee arthroscopy, shoulder arthroscopy, foot and ankle arthroscopy, hand and wrist arthroscopy, elbow arthroscopy, and sports medicines are the application segments of the arthroscopy market.
Sports-related injuries have accelerated the growth of the arthroscopy market. According to the National Safety Council Fact Sheet, approximately 500,000 injuries were reported in the United States in 2017 as a result of basketball. Furthermore, according to the Canadian Institute for Health Information (CIHI), over 74,888 patients underwent knee replacement surgery in Canada between 2018 and 2019. As a result of the increasing number of sports injuries, the demand for arthroscopy surgery is increasing, as is the global arthroscopy market.
Arthroscopy Market Regional Outlook
The global arthroscopy industry is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa (MEA). North America leads the arthroscopy market, followed by Europe. This is due to the high prevalence of joint-related disorders, such as sports injuries, osteoarthritis, joint-related disorders, and others. Such factors contribute to the expansion of the arthroscopy market in North America. Asia Pacific, however, will grow at a rapid pace in the coming years, with a remarkable CAGR until the forecast period. This is greatly aided by technological advancements such as the advent of new products to the market. This strongly supports the expansion of the APAC arthroscopy market.
The LAMEA region experienced significant growth in terms of arthroscopy device adoption and is expected to grow at a remarkable CAGR of 6.5% over the forecast period. Brazil is expected to grow rapidly in the LAMEA arthroscopy market. This is largely due to the country's growing medical tourism industry and increased awareness about the use of arthroscopic technologies. Furthermore, advances in arthroscopic device manufacturing companies investing in the LAMEA region propel regional growth. Furthermore, high growth in Brazil, Saudi Arabia, and South Africa, as well as improvements in healthcare services, is expected to boost the adoption of therapeutic and diagnostic arthroscopy systems across the LAMEA region.
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Arthroscopy Market Players
Some of the leading arthroscopy companies operating in the industry include Arthrex GmbH, Zimmer Biomet, CONMED Corporation, Smith & Nephew plc, DePuy Synthes (Johnson & Johnson Family), Stryker Corporation, and BioTek Instruments, Inc.
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