New Market Report on Arthroscopy Devices – Joint Surgery for Fast and Quick Recover

PHILADELPHIA - Feb. 28, 2019 - PRLog -- Arthroscopy is a minimally invasive surgical procedure used to visualize and diagnose complications in the joints through an arthroscope. Arthroscope has a small lens, and the fiber optic light of the device is connected to a camera and a monitor, which helps the surgeon to observe and perform surgery, accordingly. This technique is carried out in the joints of knees, shoulders, hips, elbows, ankles, and wrist areas.

The arthroscopy devices market has seen significant growth in the orthopedic medical sector due to innovative product launches, several mergers, major private equity transactions, and the rise in the older population. Technological advances in the healthcare sector also proportionally boost the arthroscopy devices market.

There is an increased demand for arthroscopy devices in individuals with orthopedic and other musculoskeletal disorders. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2014, more than 72 million people in the US had disc degeneration. The market is also driven by the growing older population in the U.S., Europe, and Japan. In developed markets such as the US and Germany, the availability of reimbursements for orthopedic procedures is likely to boost the market growth. Further, the market is driven by growing technological advances, increasing product approvals, favorable reimbursement policies, an increase in awareness programs about the arthroscopy devices and their quick and fast outcome.

For instance, in September 2016, Zimmer Biomet launched Vanguard total knee arthroscopy system. Also, in February 2016, Arthrex announced its Synergy Extended Length Hip Arthroscope sets.

Similarly, CONMED developed 3DHD Vision System, which offers 3D vision at low cost. 500XL Xenon light source system by Smith & Nephew offers a high range of illumination

In April 2016, St. Jude Medical announced that the company received first post-approval for its Medical Axium Neurostimulator System implants in the US for dorsal root ganglion (DRG) stimulation to treat patients with chronic pain.

The global arthroscopy market was valued at US$ 5,476.2 million in 2018 and is expected to witness a CAGR of 5.5% over the forecast period (2019–2026).

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The increasing prevalence of orthopedic disorders coupled with the aging population and Growing number of sports-related injuries and accident

There has been a significant increase in the number of orthopedic disorders across the globe over the last decade. Limited physical activity and eating habits can negatively influence the body's homeostasis. Arthritis, trauma, spine-related disorders, and osteoporosis are the most common joint problems worldwide. For instance, according to Centers for Disease Control and Prevention, 2013-2015, in the U.S. overall, an estimated 22.7% (54.4 million) of adults had doctor-diagnosed arthritis, with significantly higher age-adjusted prevalence in women (23.5%) than in men (18.1%). Arthritis prevalence increased with age. Also by 2040, an estimated 34.6 million adults (43.2% of adults with arthritis or 11.4% of all US adults) will report arthritis-attributable activity limitations. Such raising prevalence of orthopedic cases and joint surgeries are high in the Asia Pacific region, which is significantly expected to share the second largest market for arthroscopy devices market.

With respect to the increasing number of sports-related injuries which later might have an intervention of arthroscopic devices, is expected to grow by 1.2X times over the forecast period. With injuries occur during any physical activity like athletics, playing games and exercising may consider as sports-related injuries. The common types of injuries are muscle sprains, ligament tears, tears of tendons, dislocated joints in the ankle, knee, shoulder, hip, spine, foot and ankle. In the US, according to CDC 2014 report, around 35 children die every day due to sports injuries, on an average of 9.2 million children under the age of 19 are been more affected, and about 12,775 die because of orthopedic sports injuries. Due to the advancement in sports activities, many youngsters are involved in sports that result in many sports injuries. The increasing incidence of musculoskeletal disorders acts as a fuelling factor for this market, growing demand of the sports-related injuries make way for the minimally invasive surgical procedures like arthroscopy devices.

Market Demand for Arthroscopy Instruments and Accessories:

The arthroscopy instruments and accessories market hold the strongest market share among other products contributing a major share of about 35.2% in the year 2017 and however, it is expected to increase by than XX%, though it dominates the market  in 2025, for global arthroscopy devices market

Arthroscopy instruments consist of the devices used during the procedure, including cameras, video monitors, light sources, video recorders, video processors, electrosurgical generators, and insufflators. Arthroscopic instruments and accessories are a largely commoditized segment that requires constant replacement by the hospitals.

Arthroscopic instruments and accessories will see increased innovation in the coming years due to an increased need for technologically advanced products for the effective treatment of orthopedic disorders.

Arthroscopy fluid management devices and Arthroscopy Radiofrequency Devices contribute more than 50% of the Arthroscopy Instruments and Accessories segment market, which is further expected to boost over the forecast period.

Recent Product launches and key developments:

The product launches, collaboration, and product agreements, and other key developments are the dominating strategies adopted by the market players to enhance their product portfolio in the arthroscopy devices market.

In December 2018, Smith & Nephew announced the acquisition of Ceterix Orthopaedics, Inc, the developer of the NovoStitch Pro Meniscal Repair System. Smith & Nephew will pay an initial cash consideration of $50 million and up to a further $55 million over the next five years, contingent on financial performance.