Rise in global geriatric population and increasing adoption of technologically advanced arthroscopy tools

NEW YORK , NEW YORK, UNITED STATES, September 7, 2021 /EINPresswire.com/ -- The global arthroscopy market size is expected to reach USD 7,506.6 Million by 2028 at a CAGR of 6.3%, according to a new report by Reports and Data. The global market revenue is expected to grow at an exponential rate due to rapidly growing geriatric population, increasing number of arthroscopic procedures being performed worldwide, and rising prevalence of musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis. Growing incidences of road accidents and sports-related injuries, increasing preferences for minimally invasive surgeries and technological innovations in arthroscopic procedures are other key factors driving the global arthroscopy market to a major extent.

Arthroscopy is a minimally invasive surgical procedure for treatment of joint problems. This procedure helps in the diagnosis and treatment of joint problems and involves the use of a camera to take a close look at the affected joint areas including knee, shoulder, ankle, elbow, wrist, or hip. Arthroscopy is usually performed on an outpatient basis and is used to treat conditions such as loose bone fragments, damaged or torn cartilage, inflamed joint linings, torn ligaments, or scarring within joints. This surgical procedure allows surgeons to repair joint damage using pencil-thin surgical equipment inserted through small incisions.

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The global Arthroscopy market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.

The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.

Competitive Landscape:

The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.

Some Key Highlights in the Report:

? Based on product type, the arthroscopic implants segment is expected to reach the highest market share over the forecast period. Increasing number of arthroscopic surgeries, growing incidences of knee and hip joint disorders, and rising adoption of biodegradable arthroscopic implants due to reduced infection risks are the major factors responsible for the growth of this segment.

? Based on application, the knee arthroscopy segment leads in terms of revenue in the global arthroscopy market. Rising prevalence of degenerative knee disease among the geriatric population, rise in cases of road accidents and sports injuries, and increasing number of arthroscopic knee surgical procedures are the major parameters driving this segment?s growth significantly.

? Based on end-use, the global arthroscopy market is segmented into hospitals, ambulatory surgery centers and clinics, and others. The hospitals segment is the leading end-use segment, with the highest CAGR in 2020. This segment?s growth is attributed to increasing incidences of joint disorders, rise in accident cases, and escalating number of arthroscopic surgeries being performed in hospitals.

? Among the key regional markets, North America is the most dominant and accounted for the highest revenue share in 2020. Increasing incidences of road accidents and sports injuries and surging adoption of technologically enhanced arthroscopic instruments including high-power surgical instruments, fluid management systems, advanced endoscopes, and high-resolution cameras are expected to bolster market growth in North America.

? The arthroscopy market in Asia Pacific is projected to display the fastest revenue growth rate of 7.2% over the forecast period. Growing geriatric population, rapidly increasing patient pool, and growing medical tourism in the region are the pivotal factors accelerating the Asia Pacific market growth.

? Stryker, Arthex Inc., DePuy Synthes Co., Arthrotek Inc., Smith & Nephew, and ConMed Corp. are among the leading companies operating in the global arthroscopy market.

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For the purpose of this report, the global arthroscopy market is segmented on the basis of product type, application, end-use, and region:

Product Type Outlook (Revenue, USD Billion; 2020-2028)

? Arthroscopic Implants
? Arthroscopy Shavers
? Visualization Systems
? Fluid Management
? Radio Devices

Application Outlook (Revenue, USD Billion; 2020-2028)

? Knee
? Shoulder
? Spine
? Hip
? Wrist
? Temporomandibular Joints

End-use Outlook (Revenue, USD Billion; 2020-2028)

? Hospitals
? Ambulatory surgical centers and clinics
? Others

Regional Outlook (Revenue, USD Billion; 2020-2028)

? North America
? Europe
? Asia Pacific
? Latin America
? Middle East & Africa

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