Arthroscopy Procedure and Products Market

Arthroscopy Procedure and Products Market Snapshot

As per Future Market Insights (FMI), the global arthroscopy procedures and products market is expected to reach a valuation of approx. US$ 6.48 Bn in 2021.

Driven by increasing application in sports medicine and rising prevalence of osteoarthritis (OA) in geriatric population, the market revenue is poised to expand at over 7.7% CAGR during the forecast period, from 2021 to 2031.

Growth across North America and Europe remains high owing to the increasing preference for arthroscopic surgeries among geriatric population, especially across the U.S., and Germany. North America and Europe, collectively, accounts for over 77% of global revenue share.

Key Points Covered in Arthroscopy Procedure and products Market Study

• Market estimates and forecast 2021-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Arthroscopy Procedure and products tools market and How to Navigate
• Recommendation on Key Winning Strategies

Arthroscopy Procedure and Products Market Historic Sales Compared to 2021-2031 Forecast Outlook

Increasing application in sports medicine, rising geriatric population, and increasing prevalence of osteoarthritis across the globe are some of the factors driving the global arthroscopy procedures and products market.

Rapid adoption of arthroscopy devices to examine the bone joints for osteoarthritis, rheumatoid arthritis, bone tumor and other knee injuries have improved the demand. Between 2016 and 2020, the market was forecast to register a CAGR of over 5%.

As per FMI’s analysis, the market’s revenue is slated to increase at a stellar pace of over 7.7% CAGR during the forecast period of 2021 and 2031. With rising preference for minimally invasive surgeries for knee replacement and other injuries, the demand for arthroscopy procedures is burgeoning at a mounting pace.

Growing geriatric population across the U.S., Germany, China, India and Japan, combined with the rising cases of rheumatoid arthritis and osteoarthritis, market growth is anticipated to bolster over the coming years.

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As per the survey of Harvard Health Publishing, every year an estimated 750,000 arthroscopic knee surgeries are performed across the U.S., costing almost US$ 4 billion. More than 30 million Americans were diagnosed with osteoarthritis in 2020, among which 10% were men above the age of 60.

With increasing cases of osteoarthritis, patients are opting for arthroscopy instead of arthroplasty as a minimally invasive procedure. This, in turn, will improve the sales of arthroscopy procedures and products market.

As per Future Market Insights, degenerative knee disease is gaining prevalence among geriatric population, which is aiding the demand for knee arthroscopy. Owing to the rising preference for knee arthroscopic surgeries, the knee arthroscopic segment will contribute for more than half of the global market sales.

In the future, the market is anticipated to post substantial gains, as the demand for minimally invasive surgeries is rising with growing incidence of osteoarthritis among geriatric population.

Based on the aforementioned factors, the market is anticipated to surpass a valuation of approx. US$ 6488.3 Mn in 2021.

Favorable Policies to Curb the Global Burden of Osteoarthritis Bolstering Growth

Rising prevalence of osteoarthritis (OA) among geriatric population and increasing incidence of joint related injury or sports injury have augmented the number of arthroscopic procedures performed globally.

As per the estimated figure of OA Prevalence and Burden, around 78 million people are projected to be diagnosed with some form of arthritis, among which 32.5 million adults in U.S. will have severe osteoarthritis.

As per data of Stanford Children Health, around 30 million children across the U.S. participate in some form of organized sports, resulting in 3.5 million injuries every year. More than 775,000 children are treated for recreational and traumatic sports injuries every year.

With such rising statistics of degenerative diseases and injuries, the government across the globe have increased the funding & favorable policies to support the need for rehabilitation worldwide.

For instance, World Health Organization (WHO), launched the rehabilitation 2030 initiative in 2017 to draw attention to the profound unmet need for rehabilitation worldwide, and highlight the importance of strengthening health systems to provide rehabilitation.

WHO have also developed a ‘Package of Interventions for Rehabilitation’, which comprises of fractures in the extremities, osteoarthritis, rheumatoid arthritis, and low back pain.

It includes a list of priority evidence-based interventions for rehabilitation and the resources required to deliver them safely and effectively.

Such favorable policies will aid the growth of the global arthroscopy procedures and products market over the coming years.

Sabyasachi Ghosh

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High Cost for Arthroscopic Procedure Likely to Hinder Market Growth

High cost associated with the treatment for musculoskeletal diseases and lack of awareness regarding the effective treatment therapies are some of the factors which are likely to restrain the market growth in the near future.

Despite of being widely used procedure for curing extremely debilitating diseases, such as osteoarthritis, the global arthroscopy procedures & products market is facing some challenges such as economic slowdown that is preventing the market from growing.

Some of the other growth restraining factors are availability of alternate procedure such as knee replacement surgery & others and growing awareness for some non-surgical treatment methods.

Also, risk of edema due to irrigation fluids will also hamper the market demand over the coming years. Other risks such as thrombophlebitis, artery damage, infection inside the knee joints and ligaments will also restrict the market growth.

Country-wise Insights

Will the Demand for Knee Arthroscopy Bolster across the U.S.?

Driven by increasing number of ambulatory surgical centres, advancement in technology, expansion of healthcare infrastructure and extensive usage of arthroscopic instruments used in knee, hips, & shoulder procedure are some of the factors boosting the growth across the U.S.

Future Market Insights estimates, the U.S. is likely to be the most lucrative market for arthroscopy procedures and products over the coming years.

Owing to increasing knee arthroscopic procedures, the U.S. market is expected to register substantial gains during the forecast period.

According to the Centres for Disease Control and Prevention (CDC), with rising geriatric population, prevalence of osteoarthritis across U.S. have been increasing. For instance, by 2040, around 34.6 million people are projected to suffer from osteoarthritis.

With rising burden of this disease, due to cost-effective surgery and non-invasive nature, preference for knee arthroscopy will witness a surge over the coming years as compared to the knee replacement surgery.

Arthroscopic knee surgery have been the most common procedure for degenerative knee diseases across the U.S.

Injuries caused due to sports and recreational activities are increasing the cases for knee, shoulder, and hip arthroscopic surgeries across the U.S.

As per Insurance Information Institute, in 2019, around 468,000 injuries were recorded due to sports and recreational activities. Among which, 404,000 injuries were reported due to basketball and 292,000 were recorded due to football.

With rising number of incidents and increasing cases of degenerative diseases across the U.S., growth of arthroscopy procedures & products will bolster over the forecast period.

Why is the Demand for Arthroscopy Procedures & Products Increasing in the U.K.?

The U.K. is estimated to dominate the arthroscopy procedures & products market across Europe over the forecast period, opines Future Market Insights.

This growth is attributed to the technological advancements in the healthcare industry and rising geriatric population across the country.

Approximately 1 in 5 adults above the age of 45 years across the U.K. have osteoarthritis of the knee and 1 in 9 adults have osteoarthritis of hip, states Arthritis Research UK report.

With rising incidence of osteoarthritis among the elderly population, there have been a noticeable surge in the preference of arthroscopic surgeries across UK.

Additionally, technological advancement in arthroscopic instruments are the factors anticipated to fuel demand across the country.

What is the Current Market Scenario across China?

China is estimated to be the most lucrative market in East Asia, owing to the increasing geriatric population and rising prevalence of knee arthroscopic procedures across the country.

Burden for knee osteoarthritis among Chinese elderly estimated that around 4,149,628 people were diagnosed with knee osteoarthritis and among that almost 3.9% of population needed a knee arthroscopy.

The Southwest region in China had the highest rate of people suffering from knee osteoarthritis (OA) in 2018. The total number of patients recorded for knee OA in China was 1470994 in men and 2678624 in women.

With rising burden of knee OA, healthcare professionals and government have initiated the awareness programs and the healthcare companies have increased the funding for the development of advanced arthroscopy instruments.

Rising preference for minimally invasive surgeries among elderly have improved the adoption of knee arthroscopy, resulting in higher demand of arthroscopy procedures and products market.

As per FMI, the market across China is projected to exhibit an above average CAGR in terms of value during the forecast period of 2021 and 2031.

What are the Factors Affecting Arthroscopy Procedures and Products Sales in Germany?

Numbers of orthopedic injuries have seen a sharp fall during the FQ-20 across Germany due to the global shutdown, however prevalence of selected musculoskeletal conditions have grown 2x in 2020 over 2000.

Around 17.8% adults across Germany are diagnosed with osteoarthritis, whereby prevalence among women is higher by 7.9% than among men, says Journal of Health Monitoring, Germany.

Along with the rising knee degenerative diseases across the country, expansion of healthcare industry is another factor aiding the market growth.

High investment by healthcare companies in the development of advanced products & instruments will accelerate the demand in coming years.

Due to the non-invasive nature of the surgery, patients with severe osteoarthritis prefer arthroscopy procedure for knee, hip, or shoulder replacement. However, high cost for the procedure as compared to the standard surgery might restraint the market growth.

As per the data by Joint Surgeons in Germany, a minimally invasive complex knee arthroscopy procedures costs US$ 8769.15. Hence, average cost of arthroscopic procedure is quite pricey, which might lead the people to not opt for the surgery, limiting the market growth.

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Category-wise Insights

Why Do Arthroscopic Implants Account for MaximumMarket Share?

In terms of product type, FMI have segmented the market into arthroscopes & visualization systems, arthroscopic resection systems, arthroscopic fluid management systems, arthroscopic implants, arthroscopy radiofrequency (RF) systems, and arthroscopic drills & fixation systems.

As per Future Market Insights, arthroscopic implants will account for the highest revenue share of the arthroscopy procedures and products market in the upcoming decade.

Technological advancements in the surgical procedures along with rising incidence of degenerative disorders in obese and geriatric population is giving a rise to the diseases such as osteoarthritis, rheumatoid arthritis and other knee & joints related disorders.

Rising sports activities among younger population resulting in trauma injuries of hip, shoulder, or joint have increased the number of arthroscopic implants across the globe.

Due to its non-invasive nature, elder as well as younger population opt for arthroscopy instead of replacement surgery. Demand for arthroscopic implants is on the rise owing to the availability of smart & customized implants, widening the adoption of arthroscopic procedures.

Center for Disease Control & Prevention estimates, around 54.4 million adults in the U.S. are suffering from some kind of arthritis, among which 32.5 million adults are diagnosed with osteoarthritis.

By 2040, around 78 million people are projected to have some kind of arthritis, with osteoarthritis as the most common form of arthritis.

With rising prevalence of this disease and increase in clinical evidences related to safety and efficacy, growth of arthroscopic implants segment is anticipated to boost over the coming years.

Economic benefits and rising disposable income across the globe will also aid the growth of arthroscopic implants over the coming years.

Why is Knee Arthroscopy Gaining Traction in Procedure Type Segment?

On the basis of procedure type, the market is segmented into shoulder arthroscopy, hip arthroscopy, knee arthroscopy, elbow arthroscopy, small joints arthroscopy, and others.

Owing to rising prevalence of degenerative knee diseases among geriatric population across the globe, surgeons carry out over 600,000 knee replacements every years across the U.S., reports American Academy of Orthopedic Surgeons.

Due to its non-invasive nature and low cost as compared to the open surgical methods, popularity for knee arthroscopy have been soaring among geriatric population. With increasing cases of osteoarthritis, annually across the globe, around 4 million knee arthroscopic surgeries are carried out to avoid knee replacement surgeries.

Other factors that are increasing the popularity of knee arthroscopy are surging cases of musculoskeletal disorders among the elderly along with rising incidence of rheumatoid arthritis and osteoarthritis.

As per the Future Market Insights estimates, knee arthroscopy is anticipate to account for more than 50% of global market share in the upcoming decade.

Competitive Landscape

Leading healthcare companies are engaging in research & development activities to focus on the development of orthopedic surgical treatments, leveraging their core expertise to strengthen their global foothold.

Long-term collaborations with top players and product launches are on card for future expansion growth prospects among key players. Targeted mergers and partnerships with arthroscopy manufacturing business units will be the key strategy of market players to maintain their leadership in the industry.

For instance, in November 2019, Integrated Endoscopy, a medical device company, pioneering in the development of high-definition and low-cost single-use endoscopes for the arthroscopic surgery, announced the international launch of ‘NUVIS’, single-use arthroscope technology.

Another prominent market player in the arthroscopic device industry, Stryker, in November 2019, introduced a new line of transformative visualization tools in their arthroscopy department.

The platform included the HipCheck, HipMap, 1688 Advanced Imaging Modalities (AIM) 4K visualization and connected OR hub designed to enhance the overall surgical experience for arthroscopy.

Scope of Report

Arthroscopy Procedure and Product Market by Category

By Product Type:

• Arthroscopes and Visualization Systems
• Arthroscopic Resection Systems
• Arthroscopic Fluid Management Systems
• Arthroscopic Implants
  • Knee Implants
  • Shoulder Implants
  • Hip Implants
  • Other Implants
• Arthroscopy Radiofrequency (RF) Systems
• Arthroscopic Drills and Fixation Systems
• Other Arthroscopy Instruments and Accessories

By Procedure Type:

• Shoulder Arthroscopy
• Hip Arthroscopy
• Knee Arthroscopy
• Elbow Arthroscopy
• Small Joints Arthroscopy
• Others

By Region:

• North America
• Latin America
• Eastern Europe
• Western Europe
• Asia Pacific excluding Japan
• Japan
• Middle East and Africa (MEA)