Wed. Sep 18th, 2019

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Arthroscopic Devices Market is poised to account for approximately US$ 1,800 Mn revenues by 2022-end

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Arthroscopic devices are used by surgeons for examination of joint-related problems. These devices are essential for diagnosis and treatment of osteoarthritis, carpal tunnel syndrome, rheumatoid arthritis, and bone tumor. Arthroscopes, radiofrequency systems, visualization systems, fluid management devices, arthroscopic hand instrument, and power shaver systems fall under arthroscopic devices.

Commoditization of Arthroscopic Devices to Create Steady Revenue Generation for Manufacturers

A number of technological advancements have been witnessed in arthroscopic devices over the past few years. For example – in 2016, Zimmer Biomet introduced its Vanguard which is a total knee arthroplasty implant system, comprising two polyethylene bearings of different articulations on lateral and medial side of implants. Arthroscopic devices are largely commoditized in high volume as they require continuous replacement, creating a steady revenue generation for manufacturers. In addition, various innovations have been done on arthroscopy visualization systems, including the development of high definition & ultra-high definition video systems, enhancing visualization of a patient’s anatomy. The market for arthroscopic devices market has witnessed a paradigm shift from traditional surgeries to minimally invasive surgeries, owing to various complications related to conventional open surgeries. These factors might have a positive influence on the market growth.

arthroscopic devices market

Several governments are taking healthcare tourism initiatives through deals and packages inclusive of easier visa approvals, and follow-ups after the procedure. Arthroscopy is being witnessed to take a digital leap towards customization of operation theatres, which will utilize standardized imaging systems. These centralized operation theatres will integrate cameras, endoscopes, fluid management systems, and power instruments, thereby augmenting demand for arthroscopic devices. Other factors driving growth of the market include reduced hospital stay time post-treatment, lower risk of infections, faster results & recovery time, and affordability of the procedure, which have prompted surgeons in preferring arthroscopy procedures and devices. In contrast, absence of skilled professionals, and significant costs of arthroscopic devices, especially of the novel implants such as 3D and biodegradable implants, are expected to hinder the market growth in the upcoming years.

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A new report published by Persistence Market Research (PMR) has projected the global arthroscopic devices market to register an impressive growth over the forecast period 2017 to 2022. The global market for arthroscopic devices is poised to account for approximately US$ 1,800 Mn revenues by 2022-end.

Visualization Systems to Gain Higher Traction during 2017 to 2022

On the basis of product type, visualization systems are expected to gain higher traction, with sales projected to reach nearly US$ 500 Mn by 2022-end. Growing demand for visualization systems can be highly attributed to integration of advanced technologies, such as the multi-light technology using the 4-light emitting diode, which enhances the video quality. In addition, although fluid management systems are expected to be the least attractive product in the market, their demand will witness a steady uptake over the forecast period.

ASCs and Hospitals are expected to witness a parallel expansion in the market, based on end-users. However, Hospitals are expected to remain comparatively more lucrative end-users of arthroscopic devices than ASCs across the globe.

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Knee Arthroscopy & Hip Arthroscopy – Lucrative Applications of Arthroscopic Devices

Based on application, arthroscopic devices are expected to exhibit the largest application in knee arthroscopy and hip arthroscopy. This can be mainly attributed to growth in geriatric population, as older individuals are more prone to knee and hip injuries and disorders. Sales of arthroscopic devices for application in hip arthroscopy and knee arthroscopy are expected to account for over two-third revenue share of the market during 2017 to 2022.

North America will continue to dominate the global arthroscopic devices market, in terms of revenues. Increased prevalence of musculoskeletal disorders in this region has driven demand for technologically advanced arthroscopic devices. The surgeons and physicians in North America are gradually inclining towards adoption of robotic assistance for enhancing the success rate and overall surgical outcome.

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