Global Arthroscopy Devices Market 2021-Size, End-Use with CAGR, Market Insight, Target Audience, Key Challenges, Competition and Forecast 2030

In a recent published report, Kenneth Research has updated the market report for Global Arthroscopy Devices Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Arthroscopy Devices Market products.

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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Research Overview
Infoholic Research predicts that the global arthroscopy devices market will grow at a CAGR of 6.6% during the forecast period. The growing popularity of minimally invasive surgical procedures has increased the usage of arthroscopy devices globally. These devices have helped surgeons in treating various orthopedic conditions such as osteoarthritis, bone cancer herniated discs, and other joint-related orthopedic-targeted diseases. Arthroscopy devices have increased the interest of minimally invasive procedures; few of the popular methods among them include shoulder arthroscopy, spine arthroscopy, knee arthroscopy, and hip arthroscopy.

According to the report by National Survey of Ambulatory Surgery, more than 1 million knee arthroscopic procedures are performed annually. A majority of the surgical procedures are performed based on physical examination followed by magnetic resonance imaging (MRI) that gives a confirmatory diagnosis. Performing office-based needle arthroscopy has proven to be the alternative approach to visualize intra-articular pathology and anatomy in real-time. Surgical knee arthroscopy is the most common procedure performed.

Most of the large joint replacement implants are surgically performed when the joint is worn out or becomes dysfunctional due to injuries. Surgeries are primarily carried out to restore mobility and relieve pain. In minimally invasive surgery, a smaller surgical incision is made, and fewer muscles around the joint are detached or cut. Despite this difference, both traditional and minimally invasive joint replacement are technically demanding due to the outcomes and are dependent on the operating team with considerable experience.

According to Infoholic Research analysis, North America accounted for the largest share of the global arthroscopy devices market in 2018. The primary reasons behind the market’s growth in the Americas are rise in the aging population, increasing incidences of osteoporosis, advanced healthcare infrastructure, and rising demand for minimally invasive surgeries. The Asia Pacific region is expected to witness the fastest growth rate due to large patient pool, increasing awareness, and rising healthcare expenditure.

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Segmentation by Product Types:
• Arthroscopes
• Arthroscopy Implants
• Arthroscopy Visualization Systems
• Arthroscopic Shavers
• Arthroscopic Radiofrequency Systems
• Arthroscopy Fluid Management Systems
In 2018, the arthroscopy implants segment occupied the largest share due to increase in the incidence of musculoskeletal disorders, demand for artificial knee/hip implants, and awareness about the supreme quality range of implants available in the market. Further, the radiofrequency and fluid management arthroscopy systems are expected to gain the highest volume sales during the forecast period.

Segmentation by Applications:
• Knee
• Hip
• Spine
• Shoulder
• Ankle
• Sports Medicine
In 2018, the knee segment accounted for the maximum share with increased use of arthroscopy procedures for total knee replacement.

Segmentation by End-users:
• Hospitals
• Ambulatory Care
• Trauma Centers
In 2018, hospitals gained the highest share in the arthroscopy devices market with the largest diagnostic volumes globally.

Segmentation by Regions:
• North America
• Europe
• APAC
• RoW
The arthroscopy devices market in Rest of the World is growing at a moderate pace. Despite the relevant consequences of the increasing utilization of orthopedic devices, the awareness and prevention of various ortho-related diseases are less known in South America. Middle East and Africa has significant opportunities for various orthopedic procedures. Extremities, knee, hip, foot and ankle, and sports injuries have become common and have revolutionized the early treatment of various chronic disorders.

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Competitive Analysis – The global arthroscopy devices market has a broad range of surgical procedures that lead to stiff competition among vendors. The increasing awareness and availability of arthroscopic procedures are driving the competition in the market. It has a potential opportunity to grow in both developed and developing regions. The sales of arthroscopy devices are expected to increase through physician-owned orthopedic implant distributorships. Further, this model will help companies to enter partnerships with physicians, who obtain orthopedic implants from manufacturers at a low price compared to their market price. This helps companies in saving costs by eliminating the concept of the direct sales force. The growing importance of minimally invasive procedures has led to increased adoption of arthroscopy devices, resulting in the development of safe and easy to operate process and quick treatment in less time.

The competitive advantage is primarily due to the increase in mergers & acquisitions that have increased the product launch and product portfolio expansion in leading companies. For instance, in November 2018, Stryker announced the acquisition of K2M; and similarly in October 2018, it completed the acquisition of Invuity Inc. Further, customized implants are gaining benefits in premium pricing with less annual pressure.

Key Vendors:
• Johnson & Johnson (DePuy Synthes Inc.)
• Stryker
• Zimmer Biomet Holdings Inc.
• Smith & Nephew Inc.
• Arthrex Inc.

Key Competitive Facts:
• The market is highly competitive with all the players competing to gain the market share. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
• The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.

Benefits – The report provides complete details about the usage and adoption rate of arthroscopy devices. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the medical devices segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.

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Key Takeaways:
• Understanding the potential market opportunity with precise market size and forecast data.
• Detailed market analysis focusing on the growth of the arthroscopy devices industry.
• Factors influencing the growth of the arthroscopy devices market.
• In-depth competitive analysis of dominant and pure-play vendors.
• Prediction analysis of the arthroscopy devices industry in both developed and developing regions.
• Key insights related to major segments of the arthroscopy devices market.
• The latest market trend analysis impacting the buying behavior of the consumers.

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