Wilmington, Delaware, United States, March 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – As per a study conducted by Transparency Market Research, the global Arthroscopic Visualization Instrument Market is expected to grow at a compound annual growth rate of 4.1% during the forecast period, starting in 2022 and ending in 2031.
The last few years have witnessed an increase in demand for medical surgeries that involve use of a reduced number of syringes. The increase in demand for medical procedures that involves fewer incisions has positively impacted demand for arthroscopic visualization instruments. Some of the surgeries that have used arthroscopic visualization instruments include knee arthroscopy, hip arthroscopy, and shoulder arthroscopy.
New arthroscopic visualization instrument launches are assisting leading market players in gaining a competitive edge over other market players. Lazurite Holdings LLC, in March 2022, announced that they had received approval from the U.S. food and drug administration to use its arthroscopic visualization instrument in minimally invasive surgeries. Prominent market players are also looking to expand their presence in global market and increase their revenue shares by signing collaborative agreements with smaller market players.
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Key Findings of Arthroscopic Visualization Instrument Market
- Rising Demand for Arthroscopes Triggering Growth in Arthroscopic Visualization Instrument Market: Arthroscope product segment accounted for the largest share in arthroscopic visualization instrument market, in 2021. Increasing demand for knee and shoulder surgeries owing to benefits such as reduced complications and trauma and quicker recovery helped the growth of arthroscope product segment.
- Increasing Arthroscopic Visualization Instruments Demand for Knee Arthroscopic Procedures Stimulating Growth in Arthroscopic Visualization Instrument Market: Knee arthroscopy application segment accounted for a large share in overall arthroscopic visualization instrument market, in 2021. Increasing use of arthroscopic visualization instruments in knee arthroscopic procedures, as well as rise in aging population suffering from osteoarthritis, played key roles in stimulating the growth in overall market
- Rising Product Demand from Hospitals Propelling Overall Market: Hospital end-use segment held the largest share in global arthroscopic visualization instrument market in 2021 owing to rising number of arthroscopic procedures, performed in hospitals. Furthermore, increase in number of hospitals worldwide also fueled the demand for arthroscopic visualization instruments and stimulated the growth in overall market
Arthroscopic Visualization Instrument Market: Key Drivers
- Rising demand for medical surgeries with fewer incisions is expected to be one of the key growth drivers of global arthroscopic visualization instrument market during the forecast period
- Increasing prevalence of rheumatoid arthritis is projected to trigger product demand and stimulate the growth in overall arthroscopic visualization instrument market during the forecast period
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Arthroscopic Visualization Instrument Market: Regional Market Insights
- Globally, North America held substantial share in arthroscopic visualization instrument market, in 2021. Support from governments towards orthopedic treatment in countries such as the U.S and Canada played a key role in market growth in the region
- Asia Pacific is expected to witness significant growth in overall arthroscopic visualization instrument market during the forecast period owing to increasing awareness about sports-related injuries and rising geriatric population in developing economies such as India
Arthroscopic Visualization Instrument Market: Key Players
Competition in global arthroscopic visualization instrument market is intense because of the presence of several leading players. It is anticipated that the competition will intensify if new players enter the market, during the forecast period.
Few well-established players in global market include
- Smith and Nephew PLC,
- Medtronic PLC,
- Stryker Corp.,
- Arthrex GmbH, and CONMED Corp.
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The global arthroscopic visualization instrument market is segmented as follows:
Product Type
- Arthroscopes
- Visualization Systems
- Consumables & Accessories
Application
- Knee Arthroscopy
- Hip Arthroscopy
- Shoulder Arthroscopy
- Others
End-use
- Hospitals
- Ambulatory Surgery Centers
- Others
Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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