Report : Europe 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 8.3% CAGR, the Europe Arthroscopy Devices Market is speculated to be worth US$ 2,958.14 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe arthroscopy devices market was valued at US$ 1,689.52 million in 2021 and is expected to reach US$ 2,958.14 million by 2028, registering an annual growth rate of 8.3% from 2021 to 2028. Growing prevalence of musculoskeletal disorders and rising number of sports injuries requiring arthroscopy procedure to prevent complete joint replacement are the critical factors attributed to the market expansion.
Musculoskeletal disorders (MSDs) are the most common health conditions across the region. According to the data published by the World Health Organization (WHO), in February 2021, approximately 1.71 billion individuals suffered from musculoskeletal problems. Lower back pain is a widespread musculoskeletal condition, affecting 568 million people. Lower back pain is the major cause of impairment in many countries across the region. Musculoskeletal disorders severely impair mobility and dexterity, resulting in early retirement from work, decreased well-being, and diminished ability to participate in society. The number of people disabled by musculoskeletal conditions has been growing, and this trend is expected to continue in the next decades. Furthermore, as per the WHO, high-income countries are the most affected in terms of population. Musculoskeletal diseases are also the leading cause of years lived with disability (YLDs) across the region. Surgical arthroscopy is a well-established therapy option for individuals with chronic joint pain and dysfunction. Compared to open joint procedures, arthroscopy is less invasive and results in better overall patient outcomes in symptom treatment, hospital stay, structural recovery, and long-term outcomes. Thus, the growing prevalence of musculoskeletal disorders, osteoarthritis, and rheumatoid arthritis is expected to drive the market during the forecast period.
On the contrary, high cost of arthroscopy devices hurdles the growth of Europe arthroscopy devices market.
Based on product, the Europe 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 29.7% market share in 2021, amassing US$ 501.72 million. It is projected to garner US$ 935.84 million by 2028 to expand at 9.3% CAGR during 2021–2028.
Based on application, the Europe 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 31.5% market share in 2021, amassing US$ 531.77 million. It is projected to garner US$ 985.73 million by 2028 to expand at 9.2% CAGR during 2021–2028. Based on country, the Europe arthroscopy devices market has been categorised into the UK, Germany, France, Italy, Spain, and rest of Europe. Our regional analysis states that Germany captured 24.3% market share in 2021. It was assessed at US$ 410.17 million in 2021 and is likely to hit US$ 732.05 million by 2028, exhibiting a CAGR of 8.6% during the forecast period.
Key players dominating the Europe 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 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.
- In April 2018, Stryker announced the release of its revolutionary reusable suture passing technology for rotator cuff repair. It's a first-of-its-kind technology that combines new needle production with a jaw design to create the United States' first reusable needle technology.
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