Report : Middle East & Africa 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 7.4% CAGR, the MEA Arthroscopy Devices Market is speculated to be worth US$ 626.71 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA arthroscopy devices market was valued at US$ 379.01 million in 2021 and is expected to reach US$ 626.71 million by 2028, registering an annual growth rate of 7.4% from 2021 to 2028. Rise in number of product launches and approvals and increasing prevalence of obesity are the critical factors attributed to the market expansion.
Obesity is currently an epidemic known as "globesity," affecting millions across the region. Obesity has a considerable effect on the musculoskeletal system, resulting in the degeneration of bones, cartilage, and ligaments. According to the study published by the WHO, in 2020, the frequency of obesity among the regional population has tripled since 1975. Furthermore, according to the same study, 38 million children below 5 years of age were overweight in 2019. This massive prevalence of obesity is likely to accelerate due to unhealthy habits such as consumption of junk food, sedentary lifestyle, genetic conditions, and deprivation of mental health. Obesity is a major risk factor for OA development and progression. Obesity is associated with OA, a chronic, chronic joint condition caused by increased force across the joint and other pro-inflammatory factors such as inflammation throughout the body. Body mass index (BMI) values enhance joint pain symptoms and severity. Furthermore, for every 11 pounds gained, the risk of having OA increases by 36%. Compared to leaner individuals, women with obesity have roughly four times the risk of knee OA, while men with obesity have five times the risk. Obesity is linked to an increased chance of developing rheumatoid arthritis (RA). Given the recent rapid rise in the prevalence of obesity, this risk factor appears to have a major impact on the incidence of RA. It may account for a significant percentage of the recent increase in RA among women. Being overweight can exacerbate the symptoms of RA, lead to serious other health issues, and make some arthritis medications less effective. Hence, the increased prevalence of obesity is anticipated to drive the market during the forecast period.
On the contrary, high cost of arthroscopy devices hurdles the growth of MEA arthroscopy devices market.
Based on product, the MEA 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 27.8% market share in 2021, amassing US$ 105.48 million. It is projected to garner US$ 186.00 million by 2028 to expand at 8.4% CAGR during 2021–2028.
Based on application, the MEA 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 30.7% market share in 2021, amassing US$ 116.53 million. It is projected to garner US$ 203.22 million by 2028 to expand at 8.3% CAGR during 2021–2028.
Based on country, the MEA arthroscopy devices market has been categorised into the UAE, Saudi Arabia, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia captured 30.5% market share in 2021. It was assessed at US$ 115.68 million in 2021 and is likely to hit US$ 197.56 million by 2028, exhibiting a CAGR of 7.9% during the forecast period.
Key players dominating the MEA 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 Feb 2022, IFC stated that leading endoscope maker KARL STORZ joined the Africa Medical Equipment Facility, which would help Africa's healthcare professionals boost their services in the aftermath of the COVID-19 pandemic. With KARL STORZ's participation in the Africa Medical Equipment Facility (AMEF), smaller healthcare firms in East and West Africa will be able to buy or lease medical equipment in local currency, including endoscopic equipment
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