Report : Asia Pacific Arthroscopy Devices Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Arthroscopic Implants, Arthroscopes, Fluid Management Systems, Radiofrequency Systems, Visualization Systems, Powered Shavers Systems, and Other Arthroscopy Instruments) and Application (Knee Arthroscopy, Hip Arthroscopy, Spine Arthroscopy, Foot and Ankle Arthroscopy, Shoulder and Elbow Arthroscopy, and Others)
At 8.6% CAGR, the APAC Arthroscopy Devices Market is speculated to be worth US$ 1,911.65 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC arthroscopy devices market was valued at US$ 1,070.05 million in 2021 and is expected to reach US$ 1,911.65 million by 2028, registering an annual growth rate of 8.6% from 2021 to 2028. Increasing prevalence of obesity and rise in number of product launches and approvals are the critical factors attributed to the market expansion.
The arthroscopy devices market is characterized by the presence of many small and big companies. These companies adopt strategies such as new product launches, regional expansion, and technological advancements to increase their market shares. Arthroscopy devices have become safer and more effective than ever with continued innovation and technological advancements, boosting their acceptance among the masses. A few of the recent developments related to the arthroscopy devices haven been taken in recent years. For instance, in July 2021, Smith & Nephew plc introduced the FAST-FIX FLEX Meniscal Repair System. It employs an all-inside approach that eliminates the need for additional incisions, lowers the risk of neurovascular injury, and improves procedural efficiency to enable faster surgery times. Further, in March 2019, Stryker launched the 1688 Advanced Imaging Modalities (AIM) 4K Visualization Platform to improve arthroscopic surgical efficiency and patient experience. The active participation of market players in product innovation and development activities and increased product approvals by regulatory bodies are fueling the growth of the arthroscopy devices market across the region.
On the contrary, high cost of arthroscopy devices hurdles the growth of APAC arthroscopy devices market.
Based on product, the APAC arthroscopy devices market is segmented into arthroscopic implants, arthroscopes, fluid management systems, radiofrequency systems, visualization systems, powered shavers systems, and other arthroscopy instruments. The arthroscopes segment held 28.7% market share in 2021, amassing US$ 307.35 million. It is projected to garner US$ 584.68 million by 2028 to expand at 9.6% CAGR during 2021–2028.
Based on application, the APAC arthroscopy devices market is segmented into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot and ankle arthroscopy, shoulder and elbow arthroscopy, and others. The hip arthroscopy segment held 29.6% market share in 2021, amassing US$ 316.37 million. It is projected to garner US$ 599.94 million by 2028 to expand at 9.6% CAGR during 2021–2028.Based on country, the APAC arthroscopy devices market has been categorised into China, India, Japan, South Korea, Australia, and rest of APAC. Our regional analysis states that Japan captured 23.9% market share in 2021. It was assessed at US$ 255.79 million in 2021 and is likely to hit US$ 465.57 million by 2028, exhibiting a CAGR of 8.9% during the forecast period.
Key players dominating the APAC arthroscopy devices market are ARL STORZ SE & Co. KG; Arthrex, Inc.; CONMED Corporation; Johnson and Johnson Services, Inc.; Medtronic; NuVasive, Inc.; Richard Wolf GmbH.; Smith & Nephew; Stryker Corporation; and Zimmer Biomet among others.
- In Feb 2022, A New Zealand startup, Formus Labs which makes fully automated 3D orthopedic surgery planning software announced that it has raised $5 million and struck a partnership with Zimmer Biomet for co-development and global distribution of its technology.
- In April 2021, Smith+Nephew announced new enabling technologies for its INTELLIO Connected Tower Solution with the introduction of the DOUBLEFLO Inflow/Outflow Pump* and 4KO (Optimized) Arthroscopes.
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