The global Keyhole Orthopaedic Surgery Market is estimated to create an incremental opportunity of more than USD 8 Billion by the end of 2032. The demand for keyhole orthopaedic surgery is expected to surpass USD 5.5 Billion by 2022, surging at a CAGR of 6% to 7% during the forecast period 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Keyhole Orthopaedic Surgery Market Base Year Value (2021) | USD 5.2 Billion |
| Keyhole Orthopaedic Surgery Market Expected Value (2022) | USD 5.5 Billion |
| Keyhole Orthopaedic Surgery Market Anticipated Value (2032) | USD 8 Billion |
| Keyhole Orthopaedic Surgery Market Projected Growth Rate (2022 to 2032) | 6% to 7% CAGR |
Keyhole orthopaedic surgery, also referred to as arthroscopic, is a surgical procedure that is used to treat problems related to joints. This procedure assists in the diagnosis and treatment of joint problems, involving the insertion of a thin tube-guided camera to take a close look at affected joint areas including the shoulder, knee, ankle, hip, wrist, elbow, and others.
Keyhole orthopaedic surgery is generally performed on an outpatient basis and is used to treat conditions such as damaged or torn cartilage, loose bone fragments, torn ligaments, inflamed joint linings, and scarring within joints among others.
This orthopaedic procedures allows surgeons to examine and repair the damage near joints using pencil-thin surgical equipments which is inserted through small incisions.
Keyhole orthopaedic surgeries are gaining huge popularity, owing to their favorable attributes such as minimally invasive, less loss of blood during procedure, shorter hospital stay post-surgery, faster recovery, and fewer scars among others. This is anticipated to bolster the sales of keyhole orthopaedic surgery in the global market.
Extravagant cost of keyhole orthopaedic surgical procedures, need for expensive surgical equipments & accessories, and postoperative complications related to these procedures are some of the factors hindering the sales in the global market.
Highly skilled and qualified professionals are required to perform such complex minimally invasive surgeries. Hence, lack of such personnel across certain developing and underdeveloped countries is further restraining the growth in the keyhole orthopaedic surgery market.
As per a study by Future Market Insights, North America is anticipated to emerge as the most lucrative market for keyhole orthopaedic surgery from 2022 to 2032.
Increasing customer inclinations towards minimally invasive medical processes are accelerating the demand for keyhole orthopaedic surgeries. This, in addition to, growing advancements in technology, leading players in the market are aiming at launching novel tools and assistive equipments to capitalize on the existing opportunities.
For instance, in 2019, Stryker, an American multinational medical technologies corporation announced introducing four visualization tools for keyhole orthopaedic surgery - HipCheck, 1688 AIM 4K Platform, and others, to improve the patient outcomes and surgical efficiency. Such new product launches and development are estimated to augment the growth in the North America market.
South Asia is projected to account for a significant share in the global keyhole orthopaedic surgery market during the forecast period 2022 to 2032, states FMI.
Due to growing traffic and vehicular fleet, a significant rise in road accidents is being witnessed across South Asia, resulting in the propelling the demand for joint diagnosis and treatment procedures. According to a study by the National Crime Records Bureau, around 354,796 road accident cases were reported across India in the year 2020.
As keyhole orthopaedic surgeries are extensively used for the treatment of ailments such as loose bone fragments, scarring within joints, torn or damaged cartilage, and torn ligaments caused during the accidents, growing number of road accidents is facilitating the sales in South Asia market.
Some of the leading players in the keyhole orthopaedic surgery market are Stryker Corp., Surgical Holdings, Geister Medizintechnik GmbH, STI Laser Industries, Ltd, Zimmer Biomet, DePuy Synthes, Smith & Nephew, DJO Global, Medtronic Spinal, Integra Lifesciences, Globus Medical, NuVasive Inc., Wright Medical.
The market for keyhole orthopaedic surgery is highly competitive, attributed to increasing research and development activities for launching advanced products by key companies.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6% to 7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Indication, Application, End User, Region |
| Countries Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Companies Profiled | Stryker Corp.; Surgical Holdings; Geister Medizintechnik GmbH; STI Laser Industries, Ltd; Zimmer Biomet; DePuy Synthes; Smith & Nephew; DJO Global; Medtronic Spinal; Integra Lifesciences; Globus Medical; NuVasive Inc.; Wright Medical; Others |
| Customization | Available Upon Request |
FMI projects the sales of keyhole orthopaedic surgery in the market is expected to rise at 6% to 7% value CAGR by 2032
The global keyhole orthopaedic surgery market is expected to be dominated by North America the forecast period 2022 to 2032.
Stryker Corp., Surgical Holdings, Geister Medizintechnik GmbH, STI Laser Industries, Ltd, Zimmer Biomet, DePuy Synthes, Smith & Nephew, DJO Global, Medtronic Spinal, Integra Lifesciences, Globus Medical, NuVasive Inc., Wright Medical, and others are some of the leading players in the prominent keyhole orthopaedic surgery market.
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