Arthroscopes Segment to Hold Largest Share of Product Segment During 2021–2028
According to our new research study on “Arthroscopy Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Application,” the market is expected to grow from US$ 5,725.24 million in 2021 to US$ 9,853.88 million by 2028; it is estimated to grow at a CAGR of 8.1% during 2021–2028. Factors driving the growing prevalence of musculoskeletal disorders osteoarthritis and rheumatoid arthritis, rising number of sports injuries requiring arthroscopy procedure to prevent complete joint and rising elderly population. However, the high cost of arthroscopy devices hampers the market growth.
Based on product, the arthroscopy devices market is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopic equipment. In 2021, the arthroscopes segment held the largest share of the market by product. The same segment is expected to grow at the fastest CAGR from 2021 to 2028. Arthroscopy is a minimally invasive procedure performed by inserting a small probe through an incision. The primary application of arthroscopy is diagnosing the body's inner structure. As the name suggests, surgical arthroscopy uses these devices during surgical procedures.
Impact of COVID-19 Pandemic on Arthroscopy Devices Market
The COVID-19 pandemic placed a tremendous strain on healthcare systems globally. According to the WHO, the demand for diagnostic and therapeutic devices increased dramatically in hospitals as the chaotic situation erupted in the healthcare sector. Many health authorities shifted their focus on pandemic-related care in 2020. They postponed elective surgeries, suspended outpatient clinics, and triaged employees involved in urgent care to lower the disease transmission rate at hospitals. Orthopedic surgeons have seen major effects on their ability to offer timely and high-quality surgical care, training, and research due to these changes. Even when hospitals resumed elective surgeries, cases were prioritized based on clinical urgency, causing severe delays in regular and time-sensitive elective care for orthopedic patients. Like practicing physicians and their patients, medical trainees were adversely affected by changes in healthcare delivery and education due to the COVID-19 pandemic. The COVID-19 pandemic negatively affected patients with osteoarthritis (OA) irrespective of their contracting the infection. Patients with OA had a disruption in access to the healthcare system, which resulted in delays in joint replacement surgeries due to cancellations of elective surgical procedures.
Arthrex, Inc.; CONMED Corporation; Johnson and Johnson Services, Inc.; KARL STORZ SE & Co. KG; Medtronic; Richard Wolf GmbH.; Smith & Nephew; Stryker Corporation; Zimmer Biomet; and NuVasive, Inc. are among the leading companies operating in the arthroscopy devices market.
Arthroscopy Devices Market, by Region, 2021 (%)
Arthroscopy Devices Market Size & Share | Forecast 2021, 28
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Arthroscopy Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Arthroscopic Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shaver Systems, and Other Arthroscopy Instruments) and Application (Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot and Ankle Arthroscopy, Shoulder and Elbow Arthroscopy, and Others)
Arthroscopy Devices Market Size & Share | Forecast 2021, 28
Download Free SampleArthroscopy Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Arthroscopic Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shaver Systems, and Other Arthroscopy Instruments) and Application (Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot and Ankle Arthroscopy, Shoulder and Elbow Arthroscopy, and Others)
Based on product, the arthroscopy devices market is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopic equipment. Based on application, the arthroscopy devices market is segmented into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, and others. By geography, the arthroscopy devices market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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