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Increasing Geriatric Population and Prevalence of Sport Injuries to Boost the Global Arthroscopy Devices Market

Press Release   •   Jan 09, 2017 02:54 EST

With the increasing involvement of the global population in diverse sports activities and the rising global population of geriatrics, the demand for arthroscopy services is rising. Arthroscopy, the field that specializes in the visualization of the internal arrangement of bones and joints. Arthroscopy devices are often used in the treatment and diagnosis of a number of diseases and conditions related to joints. The procedure makes use of imaging equipments such as endoscopes and is commonly performed on the shoulder and knee joint. Other joints such as hip, ankle, or wrist joints are also examined and tested using arthroscopic imaging procedures.

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The American Orthopedic Society for Sports Medicine states that nearly 1.4 million people undergo shoulder arthroscopies and nearly 4 million people undergo arthroscopies every year across the globe. The global market for arthroscopy devices manufactures and sells products such as visualization machinery, radiofrequency systems, fluid management systems, arthroscopic shavers, powered tools, and implants. The global arthroscopy devices market had a valuation of US$ 3.3 billion in 2012. Projected to expand at a 6.0% CAGR over the period 2013-2019, the market is expected to reach US$5.1 billion by 2019.

Apart from the rising population of geriatrics and the increased level of athletic activities (leading to an increased number of sports injuries) across the globe, the rising prevalence of chronic arthritis is also a key factor driving the global arthroscopy market.

However, the market faces restraints in the form of the strict regulatory framework that impacts the market of medical devices. Complexities associated with obtaining the regulatory approval for launching arthroscopy devices is a key factor adversely affecting the development of the market. Furthermore, complications involving the use of arthroscopic devices during surgeries also restrict adoption of these devices to a certain extent in the market.

While the North America market is currently the biggest and the most lucrative regional market for the arthroscopy devices, Asia Pacific is expected to emerge as the biggest revenue generator for this market in the near future. The rising population base of geriatrics, coupled with the improving GDPs and rising disposable incomes in Asia Pacific, will create lucrative growth opportunities for the global arthroscopic market over the coming years.

The global arthroscopy devices market comprises devices such as arthroscopes, arthroscopic implants, fluid management systems, arthroscopic shavers, visualization systems, and radiofrequency systems. Of these, the market segment of arthroscopic implants accounted for the largest share of the market in 2012 when the net valuation of this market segment was nearly US$2 bn. The market segment of visualization systems is expected to expand at a 9.0% CAGR between 2013 and 2019.

The businesses in the global market for arthroscopic devices are involved in innovative marketing strategies for selling their products and services in the market. The market is also highly influenced by the numerous technological advancements that make the machines more accurate and the procedures more precise. Some of the key businesses operating in the market include Conmed Corp., Stryker Corp., Arthrocare Corp., Smith & Nephew, Arthrex, Inc., and DePuy Synthes Inc.

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