Report : North America 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 7.8% CAGR, the North America Arthroscopy Devices Market is speculated to be worth US$ 3,963.23 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America arthroscopy devices market was valued at US$ 2,342.20 million in 2021 and is expected to reach US$ 3,963.23 million by 2028, registering an annual growth rate of 7.8% 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.
Athletes and players frequently suffer from injuries during sports activities. These injuries have significant potential to damage bone joints, cartilage, and ligaments. An increase in the number of sports injuries among players and athletes is anticipated to drive the arthroscopy devices market during the forecast period. Further, the most common injuries observed among children and teenagers are sprains and strains. The increasing participation in sports leads to the surge in sports injuries among the participants, which will eventually drive the arthroscopy devices market. An increase in sports participation is projected to drive the prevalence of sports injuries that require surgical arthroscopy for treatment, which will eventually accelerate the growth of the arthroscopy devices market. Sports injuries are common, and athletes must prepare for the possibility of being injured. Sports injuries can occur in various sports, including high-contact sports such as football and non-contact sports such as volleyball. Sports are popular among people of all generations. Furthermore, the number of people participating in recreational sports, some of which are high-impact sports like tennis or soccer, is increasing in Western countries. Arthroscopic surgery has received a lot of publicity since it is frequently used to treat sports injuries and prevent complete joint replacement. It is generally less painful than open surgery. Most patients undergo arthroscopic surgery as outpatients and return home a few hours later. This is expected to drive the market during the forecast period.
On the contrary, high cost of arthroscopy devices hurdles the growth of North America arthroscopy devices market.
Based on product, the North America 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 27.7% market share in 2021, amassing US$ 649.30 million. It is projected to garner US$ 1,169.86 million by 2028 to expand at 8.8% CAGR during 2021–2028.
Based on application, the North America 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 29.8% market share in 2021, amassing US$ 698.61 million. It is projected to garner US$ 1,249.81 million by 2028 to expand at 8.7% CAGR during 2021–2028.
Based on country, the North America arthroscopy devices market has been categorised into the US, Canada, and Mexico. Our regional analysis states that US captured 46.0% market share in 2021. It was assessed at US$ 1,077.41 million in 2021 and is likely to hit US$ 1,896.41 million by 2028, exhibiting a CAGR of 8.4% during the forecast period.
Key players dominating the North America 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 August 2021, Smith+Nephew, the global medical technology business, announced it would showcase its latest Sports Medicine innovations for joint repair and arthroscopic enabling technologies during the American Academy of Orthopaedic Surgeons 2021 Annual Meeting which held in San Diego, CA.
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