Arthroscopy Devices Market Expected to Reach $41.9 Billion by 2030—Allied Market Research

The arthroscopy devices market was valued at $18.0 billion in 2020, and is estimated to reach $41.9 billion by 2030, growing at a CAGR of 8.5% from 2021 to 2030. Depending on product the market is segmented on the basis of arthroscopic implants, arthroscopes, fluid management systems, radiofrequency systems, visualization systems, powered shaver systems, and other arthroscopy equipment. The arthroscopes segment accounted for the highest market share in 2020 and visualization systems segment is expected to witness significant growth during the forecast period, owing to rise in number of arthritis patients. According to application, it is categorized into knee arthroscopy, hips arthroscopy, shoulder & elbow arthroscopy and other. The shoulder and elbow arthroscopy segment is anticipated to grow rapidly, with a CAGR of 10.1% during the forecast period, owing to rise in number of patients suffering from bone disorders such as arthritis. The market growth is mainly driven by surge in geriatric population and increase in number of sports related injurie. Also, effectiveness of arthroscopy devices, in examining bone joints for specific conditions, such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumor, has fueled its use in healthcare facilities. However, factors such as high initial cost and unfavorable reimbursement policies limit arthroscopy devices market growth.

In 2020, North America dominated the global arthroscopy devices market forecast, in terms of revenue, accounting for around 41% share of the arthroscopy devices industry, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific region is growing with high CAGR, owing to advantages of arthroscopy devices such as short recovery time and minimal postoperative complications. In addition, increased FDI opportunities in many countries of Asia-Pacific region, propels the growth of the market.

Increase in number of patients suffering from joint disorders such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumor has increased the use of arthroscopy devices for examining and executing therapeutic interventions. Surge in number of sports injuries fueled by increase in number of sports tournaments across the globe positively influenced the arthroscopy devices market size. Furthermore, advancements in technologies, have enabled use of arthroscopy devices for a wide range of bone and joint ailments, thereby being a major arthroscopy devices market opportunity. In addition, growth of healthcare industry in developing countries and advanced healthcare facilities in developed countries propel the arthroscopy devices market. Also, major players in the industry are focusing on development of cost-efficient arthroscopy devices.

For instance, according to the U.S. Department of Health & Human Services, 1 in 4 U.S. adults has arthritis and over $300 billion are spent annually for its treatment. By 2040, around 78 million U.S. adults are expected to suffer from doctor-diagnosed arthritis. Furthermore, geriatric population in the U.S. is expected to reach 21.6% by 2040, up from 16% in 2019. In addition, the healthcare infrastructure in developing countries of Asia-Pacific region has expanded rapidly. For instance, according to India Brand Equity Foundation, the Indian healthcare infrastructure is expected to reach a value of US$ 349.1 billion and by 2025.

However, during the pandemic lockdown, various players in the arthroscopy devices market reduced their business in countries such as China, the U.S., and India, owing to disruption of supply chain. This halt directly impacted arthroscopy devices manufacturing companies. In addition, extensive focus of major countries on development of vaccines negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to boost the recovery of arthroscopy devices market size.

 Key Findings of the Study

• The report provides an extensive analysis of the current and emerging arthroscopy devices market trends and dynamics. 
• Depending on product, the arthroscopes segment dominated the arthroscopy devices market, in terms of revenue in 2020 and the radiofrequency systems segment is projected to grow at a significant CAGR during the forecast period.
• By application, the shoulder and elbow arthroscopy segment registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• Key players within the arthroscopy devices market are profiled in this report and their strategies are analyzed thoroughly which help understand competitive outlook of the arthroscopy devices industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth arthroscopy devices market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.