Global Arthroscopy Devices Market
Arthroscopy devices market: Arthroscopy is a specific examination of inside structures of a joint. The process of arthroscopy includes insertion of a specifically designed illuminated device into a joint through the small incision. This procedure is primarily associated with diagnosis process. Arthroscopy is an instrument which consists of magnifying lenses and glass coated fibres, enables send concentrated lights into the joint and a camera is attached to arthroscopy device. This allows the surgeon to have a clear view of joint, thus obtained image is transferred to the monitor during arthroscopy in an operating room.
Arthroscopic devices are one of the emerging and attractive industry in medical devices sector. In recent times orthopaedics field has seen major private equity transactions, several mergers and innovation of new products which is the major factor expected to fuel the growth of arthroscopy devices market. As people are becoming more conscious about their health, they are preferring the high layout of quality orthopaedic treatments, growing the ageing population, rising technological advancements in medical and healthcare sector, increase in usage of robotics are few factors which are fuelling the growth of the market. In addition, greater precision to perform surgeries of highly sensitive areas like spine, minimal post-operative complications, a rise in obese patients causing degradation of bone are few factors which are expected to witness the growth of arthroscopy devices market. However, lack of skilled professionals and a high cost of arthroscopic devices expected to dampen the arthroscopy devices market.
Arthroscopy devises market is segmented on basis of product type, application, and end user and geographical regions.
Based on the type of product, the global market is segmented
- Arthroscopic implants
- Other instruments and accessories
Based on the application, the global market is segmented
- Foot and ankle
- Shoulder and elbow
Based on the end user, the global market is segmented
- Orthopaedic clinics
Favourable government initiatives and increased medical tourism are expected to witness the growth of the market. Several innovations in arthroscopy devices such as the development of HD and ultra HD arthroscopic visualization systems have improved the visualization of an anatomy of a patient, growing technologies in arthroscopic implants are further expected to fuel the demand of arthroscopy devices market. For example, in 2016 September, Vanguard total knee arthroplasty implant was launched by Zimmer Biomet and in 2016 February, Smith & Nephew and OrthAlign has entered into a multi-country distribution agreement for the distribution of total knee arthroplasty technology in various countries of the Middle East and Africa.
The global arthroscopy devices Market is segmented into North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. North America expected to dominate the global arthroscopy devices market. Asia Pacific is anticipated to show the highest growth over the forecast period owing to rise in sports as the career, growing disposable income, improved healthcare funding and the large pool of the population. Due to the rise in medical tourism, growing awareness regarding usage and benefits of arthroscopy devices, increase in investments in the healthcare manufacturers are expected to fuel the growth of arthroscopy devices market in Brazil, Saudi Arabia and South Africa.
The key players that operate in the global arthroscopy devices market include Conmed Corporation (U.S), Arthrex, Inc. (U.S), KARL STORZ GmbH & Co. KG (Germany), Johnson & Johnson (U.S), Medtronic, Plc (U.S), Smith & Nephew, Inc.(U.S), Richard Wolf GmbH (Germany), Stryker Corporation (U.S), Zimmer Biomet Holdings, Inc. (U.S)., Wright Medical Group N.V.(U.S) to name some few.
- In 2017 June, Zimmer Biomet Holdings, Inc. introduced X-ray-based patient specific instrument named X-PSI knee system. It is the first CE marked surgical planning system in the world.
- In March 2017, Stryker commercially launched highly anticipated robotic arm assisted total knee arthroplasty system in U.S
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