Global arthroscopy market is anticipated to reach
USD 6.34 billion by 2024, according to a new report by Grand View Research,
Inc. Increasing geriatric population base and rising obesity levels are the
major factors driving the growth.
Rising medical tourism, cost
efficiency and faster recovery rate are some of the factors resulting in
increased adoption. As a result, demand for arthroscopy is increasing, since
it’s used in the diagnosis of joint conditions. In addition, constant decline
in the price coupled with reimbursement coverage is spurring the adoption of
arthroscopy in the treatment of injuries.
Presently, the sector is
fragmented in nature with presence of many players competing with each other.
The key players are implementing mergers and acquisition strategies to
strengthen their position by the expansion of customer base and reduce the
number of competing players.
Full Research Report On arthroscopy
market Analysis:
www.grandviewresearch.com/industry-analysis/arthroscopy-market
www.grandviewresearch.com/industry-analysis/arthroscopy-market
Further key findings from the
study suggest:
·
Arthroscopic implant segment
dominated globally and is estimated to remain dominant throughout the forecast
period. Increasing adoption of implants for diagnosis is mainly driving the
growth of the segment.
·
The arthroscopic visualization
systems are anticipated to witness strong demand during the forecast period due
to their ability to provide clear high definition resolution of internal organs.
·
The demand for Fluid Management
Systems is going to increase considerably during the forecast period with new
products entering the sector especially in emerging countries such as Brazil,
Mexico and South Africa.
·
The key players have faced
challenges due to severe pricing pressures and stringent regulatory guidelines.
The existing companies are finding it difficult to garner strong revenues.
·
Rising demand for minimally
surgeries is also supporting the revenue growth since arthroscopy supports the
same.
·
China, India, Brazil and South
Africa are anticipated to register significant growth over the forecast period
owing to rising patient awareness related to arthroscopy, presence of largest
pool of geriatric population prone to injuries and the surging prevalence of
chronic diseases such as osteoarthritis, bone tumor and rheumatoid arthritis.
·
Lenient regulatory approval
procedures in Asia Pacific are offering easy entry of the new products in the
region.
·
Some of the key players
operating at the global level include but are not limited to ConMed
Corporation, Arthrex Inc, Stryker Corporation, Olympus Corporation, Smith &
Nephew plc, DePuy Synthes and Zimmer Biomet.
·
North America dominated the
global scenario with regional share of over 40.0% in 2015. Technological
advancements, such as introduction of advanced visualization systems, primarily
led to highest revenue generation in the region. Visualization systems help in
minimally invasive surgery by providing 3D image of the joint.
·
In addition, favorable reimbursement
structure, presence of large target patient population and well defined
regulatory framework are few factors that are positively affecting the market.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the
Arthroscopy market on the basis of product, application, and region:
Arthroscopy Market, by Product
·
Powered Shave Systems
·
Visualization Systems
·
Fluid Management Systems
·
Ablation Systems
·
Arthroscopes
·
Arthroscope Implants
·
Accessories and Disposables
Arthroscopy Market, by Application
·
Hip
·
Knee
·
Shoulder
·
Foot & Ankle
·
Hand & Wrist
·
Elbow
·
Sports Medicines
Arthroscopy Market, by Region
·
North America
o
U.S.Arthroscopy Market, by
Product
o
U.S.Arthroscopy Market, by
Application
o
Canada Arthroscopy Market, by
Product
o
Canada.Arthroscopy Market, by
Application
·
Europe
o
Germany Arthroscopy Market, by
Product
o
U.K.Arthroscopy Market, by
Product
·
Asia Pacific
o
China Arthroscopy Market, by
Product
o
Japan Arthroscopy Market, by
Product
·
Latin America
o
Brazil Arthroscopy Market, By
Product
o
Mexico Arthroscopy Market, By
Product
o
Rest of Latin America
Arthroscopy Market, By Product
·
MEA
o
South Africa Arthroscopy
Market, By Product
o
Middle East Arthroscopy Market,
By Product
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-arthroscopy-market
About Grand
View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/