Arthroscopy Devices And Equipment Global Market Report 2024

The arthroscopy devices and equipment market size has grown strongly in recent years. It will grow from $5.64 billion in 2023 to $6.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The historical growth in this context can be attributed to several factors including the prevalence of orthopedic conditions, the increasing adoption of minimally invasive surgical techniques, the aging population, and advancements in the field of sports medicine..

The arthroscopy devices and equipment market size is expected to see strong growth in the next few years. It will grow to $7.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the upcoming period is expected to stem from various factors, including the expanding growth in emerging markets, supportive regulatory measures, reimbursement facilitation, the increasing utilization of telehealth and remote consultation services, and the evolution towards value-based healthcare models. Notable trends in the forecast period encompass the adoption of augmented reality (AR) and virtual reality (VR), advancements in 3D imaging and printing technologies, the integration of artificial intelligence (AI), and the growing emphasis on sustainable practices in the industry.

The growth in the older population is anticipated to be a significant driver of the arthroscopy devices and equipment market in the foreseeable future. The elderly population is more susceptible to various orthopedic conditions, including arthritis, rheumatoid arthritis, and osteoarthritis. With an increasing number of individuals transitioning into the older age group, there is a higher likelihood of developing conditions like osteoarthritis and other joint ailments, often necessitating arthroscopic procedures for diagnosis and treatment. For instance, in October 2022, according to the World Health Organization, a specialized health agency based in the United States, it is projected that globally, one in six individuals will be aged 60 or older by 2030. Furthermore, by 2050, the number of individuals in this age group is expected to double, reaching 2.1 billion. Consequently, the growing elderly population is poised to be a driving force for the arthroscopy devices and equipment market in the forecast period.

The primary products within the arthroscopy devices and equipment category include arthroscopes, arthroscopy shavers, arthroscopy fluid management systems, arthroscopy radiofrequency systems, visualization systems, and implants. Arthroscopes, equipped with a camera lens and light, enable visualization inside the joint. These devices find applications in knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, and other joint-related procedures. They are utilized across hospital settings, ambulatory care facilities, and trauma centers.

The arthroscopy devices and equipment market research report is one of a series of new reports that provides arthroscopy devices and equipment market statistics, including arthroscopy devices and equipment industry global market size, regional shares, competitors with a arthroscopy devices and equipment market share, detailed arthroscopy devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the arthroscopy devices and equipment industry. This arthroscopy devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The projected growth of the arthroscopy devices and equipment market is strongly tied to the increasing prevalence of musculoskeletal disorders (MSDs). Musculoskeletal disorders encompass a group of medical conditions affecting the musculoskeletal system, which involves muscles, bones, tendons, ligaments, joints, and other connective tissues necessary for movement and support in the body. Arthroscopy devices and equipment play a vital role in diagnosing and treating various musculoskeletal conditions by enabling physicians to visualize the interior of joints and assess the extent of damage or disease. For instance, in December 2022, according to Osteopaths For Industry Ltd., a UK-based company specializing in musculoskeletal injury prevention training and consultancy services, there were 477,000 reported cases of work-related musculoskeletal disorders for the period 2021-2022. Moreover, in July 2022, the World Health Organization, an intergovernmental organization based in the United States, reported that approximately 1.71 billion people were affected by musculoskeletal disorders. Hence, the increasing prevalence of musculoskeletal disorders is a key driver behind the growth of the arthroscopy devices and equipment market.

One of the constraints for the arthroscopy treatment devices and equipment market is the increasing incidence of product recalls. Product recall refers to the process of retrieving all defective products that have been sold or are available in the market. When a company initiates a product recall, they bear the expenses associated with rectifying the defective product and its replacement. The costs for replacing a large number of products can potentially amount to multi-million dollars, which can impede the growth of the company and, consequently, impact the entire market. For instance, in April 2022, Exactech issued a recall for its knee devices due to a higher incidence of failure and the subsequent need for revision surgery. Such recalls can affect consumer trust, lead to financial burdens for the company, and restrict market growth for arthroscopy treatment devices and equipment.

Major companies within the arthroscopy devices and equipment market are focusing on innovative technologies, such as the LENS 4K surgical imaging system for 4KO (optimized) arthroscopes, to gain a competitive advantage in the industry. The LENS 4K surgical imaging system for 4KO (optimized) arthroscopes is an advancement in surgical video technology. For example, in April 2021, Smith & Nephew PLC, a UK-based medical equipment manufacturer, introduced the 4K surgical imaging technology tailored for 4KO (optimized) arthroscopes. This technology is a surgical video platform aimed at enhancing visualization and improving image quality, intending to broaden the capabilities of arthroscopic and endoscopic procedures. These 4KO (optimized) arthroscopes are available in different variations, including C-mount couplers or video arthroscopes with varying diameters and lengths. The emphasis is on offering improved visual clarity and enhanced performance in arthroscopic and endoscopic surgical settings.

The Medicines and Healthcare products Regulatory Agency (MHRA), a regulatory body overseeing arthroscopic and orthopedic devices in the UK, issued an urgent field safety notice to Stryker Corporation, a medical and orthopedic device manufacturer. This notice prompted a recall for specific lots of Stryker hip products due to concerns that the implantation devices might be larger or smaller than the intended size. This issue has affected patients by causing problems such as insufficient soft tissue tension, excessive stress on the soft tissues, hip instability, and increased risks associated with undergoing revision surgeries. To mitigate the incidences associated with these devices, the MHRA has taken proactive steps by sending an urgent field safety notice, directing corrective action. This action includes returning the devices to the supplier for investigation and implementing necessary measures to rectify the issues with the affected devices.

In January 2021, Smith+Nephew, a UK-based company specializing in arthroscopy devices and equipment, acquired Extremity Orthopedics in a deal valued at $240 million. This strategic acquisition was aimed at expanding and fortifying Smith+Nephew's product portfolio, particularly in the field of extremities. Extremity Orthopedics, a United States-based company operating in medical technology and the arthroscopy devices and equipment market, was a significant addition that contributed to Smith+Nephew's diversification and enhancement in the extremities sector.

Major companies operating in the arthroscopy devices and equipment market include Arthrex Inc., Smith & Nephew PLC, ConMed Corporation, Stryker Corporation, Medtronic PLC, Karl Storz SE & CO. KG, ArthroCare, Richard Wolf GmbH, DePuy Synthes Companies, Aesculap AG & Company, CorTek Endoscopy, Aurora Spine Corporation, Agilent Technologies Inc., Vimex SP. Z O. O, Cannuflow Inc., Wright Medical Group N.V., Zimmer Biomet Holdings Inc., GPC Medical Ltd., Breg Inc., Performance Health International Limited, Bauerfeind AG, Mueller Sports Medicine, RTI Surgical Holdings, Bioventus LLC, MedicalExpo, Outcare Medical Devices Pvt. Ltd.

North America was the largest region in global arthroscopy devices and equipment market in 2023. Western Europe was the second-largest region in global arthroscopy devices and equipment market. The regions covered in the arthroscopy devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the arthroscopy devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The arthroscopy device and equipment market consist of sales of instruments such as arthroscopes, arthroscopy shavers, arthroscopy fluid management system, arthroscopy radiofrequency system, arthroscopy visualization system, and arthroscopy implants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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