Global Arthroscopy Devices Market Comprehensive Overview – Global Key Vendors, Drivers, Industry Challenges, Trend and Gross Margin by Forecast to 2024
Global Arthroscopy Devices Market 2018-2024 report delivers a comprehensive research based study of the market along with the market share, forecast data, in-depth analysis, and detailed overview of the Arthroscopy Devices industry with respect to global market. The Arthroscopy Devices market report further emphasizes on driver and restraint factors in the global and regional level. For complete understanding, the market also provides market segmentation and regional market analysis in country level market.
Global Arthroscopy Devices Market is expected to reach USD 14,957.97 million by 2024 from USD 7,886.20 million in 2016, at a CAGR of 8.4% by 2024.
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Smith & Nephew is going to dominate the global Arthroscopy devices market following with Depuy Synthes (subsidiary of Johnson & Johnson Services, Inc.), Stryker, Conmed Corporation and Zimmer Biomet. Some of the other players are Arthrex, Inc., Medtronic, Wright Medical Group N.V., Biotek (Chetan Meditech Pvt. Ltd.), GPC Medical Ltd, Vimex SP. Z O. O., Richard Wolf Gmbh, Karl Storz SE & CO. KG among others.
Some of the major factors driving the market for global Arthroscopy devices market are increase in geriatric and ageing population, increase in joint replacement surgery, increase demand for minimal invasive procedures and rise in sports related injuries. These factors demand the Arthroscopy devices system which boosts the market growth.
High cost of arthroscopic devices, implants and surgery may hinder the growth of the market.
Many companies are increasingly focusing on technological advancement of Arthroscopy devices in order to strengthen their product portfolios in the Arthroscopy devices market.
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Market Segmentation of Global Arthroscopy Devices Market
The global Arthroscopy devices market is segmented on the basis of components, products, application and services. The report provides data for 2015 to 2024, 2016 being the current year while 2017 to 2024 is the forecast period for the report.
Based on product type, the global arthroscopy devices market is segmented into
arthroscopy fluid management systems,
arthroscopy visualization systems,
arthroscopy RF ablation systems and
arthroscopy RF wands
The arthroscopy devices market is dominated by arthroscopes implants with 36.1% market share in 2016, growing with the CAGR of 8.4% in the forecast period. Arthroscopy implants are further segmented into shoulder repair implants, hip repair implants, knee repair implants and others repair implants. Shoulder repair implants are further sub segmented into suture anchors and knotless anchors. Hip repair implants are further sub segmented into suture anchors and knotless anchors. Knee repair implants is further sub segmented into suture anchors, knotless anchors and interference anchors.
On the basis of procedure type, the global arthroscopy devices market is segmented into
knee arthroscopy procedure,
shoulder arthroscopy procedure,
hip arthroscopy procedure and
other arthroscopy procedure
In 2017, the knee arthroscopy procedure segment is expected to dominate the market with 52.9% market share
On the basis of end users, the global arthroscopy devices market is classified into
ambulatory surgical centers,
orthopedic clinics and
Among these, in 2017 hospital segment dominated the market and the trend is expected to remain the same till 2024.
Based on geography, the market is segmented into 5 geographical regions,
South America and
Middle East and Africa
Drivers: Global Arthroscopy Devices Market
INCREASE IN GERIATRIC AND AGEING POPULATION
The rise in the geriatric population across the globe is a major factor driving the growth of arthroscopy. According to United Nation Population Fund (UNFPA) the population with age above 60 years comprises more than the 12.3% of global population and is expected to rise up to 20.0% of the global population by 2050. Due to growing geriatric population, the cases of acute and chronic diseases such as obesity, arthritis and others are rising. Older population is more prone to diseases such as infections, cardio metabolic risks, joint related issues and cancer leading to more number of surgeries, driving the growth of the arthroscopy devices market. of the number of surgical procedures vary across regions, ranging from 3383 operations per 100,000 in central Latin America to 6495 operations per 100,000 in western sub-Saharan Africa.
INCREASE IN JOINT REPLACEMENT SURGERY
The increase in joint replacement surgery across the globe will drive the arthroscopy market. For instance, According to Canadian Institute for Health Information (CIHI), around 113,000 knee and hip surgeries are performed in Canada annually. The number of hip replacements surgery increased by 20.0% and number of knee replacement surgery increased by 20.3% from 2009 to 2015 in the country. Furthermore, as per Centers for Disease Control and Prevention (CDC), in U.S. 54.4 million adults were diagnosed with arthritis between 2013 and 2015 and the number is expected to reach 78.4 million by 2040.
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