Arthroscopy devices market is anticipated to grow at a moderate CAGR of 4.9% during the forecast period (2024-2031).An arthroscope is a medical device used to visualize, examine, and execute therapeutic interventions inside the body joints, including the knee, hip, spine, shoulder, and elbow. Arthroscopy devices can examine bone joints for specific conditions, such as osteoarthritis, rheumatoid arthritis, tendinitis, and bone tumors. A major factor supporting the market growth is the increasing knee arthroscopy. Degenerative knee disease is a globally occurring phenomenon among the elderly, which is gaining prevalence due to an increase in the global geriatric population.

Market Dynamics

Rise in the Prevalence Rate of Musculoskeletal Diseases Drives the Market Growth

The increasing prevalence of bone-related and musculoskeletal disorders is one of the key factors driving the growth of the market. Furthermore, the rising geriatric population across the globe that is more susceptible to such ailments is also providing a boost to the market growth. There is an increasing preference for minimally invasive (MI) treatment procedures among the masses, which has led to the rising adoption of arthroscopy devices. Additionally, various innovations in the field of sports medicine and the development of technologically advanced product variants are also creating a positive outlook for the market. Product manufacturers are developing advanced arthroscopic devices to improve visualization with high-definition (HD) cameras, superior suturing techniques, and customized suturing materials. Other factors, including rising health consciousness and awareness regarding the available treatment alternatives, along with the improving healthcare infrastructure, are projected to drive the market further.

Technological Developments in the Arthroscopy Devices

Globally,the rising demand for arthroscopic gadgets in sports medicine is expected to present significant possibilities for market competitors. Manufacturers are working on arthroscopy equipment with high-definition cameras, improved suturing procedures, and specialized suturing materials to improve visualization. Arthroscopy devices improved the image quality from high definition to 4K. Surgical center leaders started to understand the many advantages of the improved image quality provided by 4K imaging. While regular high-definition imaging is undoubtedly good, there is a significant difference when they upgradeto 4K. With the help of 4K, pathology can be identified, exact measurements taken, diseases treated, and arthroscopic surgery performed with improved precision.

Market Segmentation

Our in-depth analysis of the global arthroscopy devices market includes the following segments by type, and application:

• Based on type, the market is segmented into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, and powered shavers.

• Based on application, the market is segmentedintoknee arthroscopy, hip arthroscopy, spine arthroscopy, and shoulder and elbow arthroscopy.

Knee Arthroscopy is Projected to Emerge as the Largest Segment

The knee arthroscopysegment is expected to hold the largest share of the market. The primary factor supporting the segment's growth is due to an increase in the number of patients suffering from bone illnesses like arthritis. The rise in the senior population and the amount of sports-related injuries are driving market expansion. A tiny camera is inserted into the knee joint during knee arthroscopy. The surgeon uses the images from the camera to control microscopic surgical instruments, which are displayed on a television monitor. Degenerative knee disease is a globallyoccurrence among the elderly andis becoming more common as the worldwide geriatric population grows. According to the World Health Organization, roughly 25.0% of persons over the age of 50 suffer from degenerative knee disease, which causes knee discomfort. The pain is debilitating, and a knee replacement treatment is frequently the last and only option for relief.

Arthroscopic Implants Segment to Hold a Considerable Market Share

The arthroscopic implants segment procured a considerable market share in the arthroscopy devices market. It is due to the availability of smart and personalized implants, arthroscopic implants have seen widespread acceptance in arthroscopic surgeries, providing lucrative market growth potential. These implants are effective for diaphyseal/metaphyseal reduction since they are designed to fit nicely and need little or no further bending. The demand for arthroscopic implants in internal tissue repair, bone grafting, joint fixation, and glenoid reconstruction has been boosted by the introduction of biodegradable implants and the demand for arthroscopic implants in internal tissue repair, bone grafting, joint fixation, and glenoid reconstruction.

Regional Outlook

The global arthroscopy devicesmarket is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Asia-Pacific to Grow at The Fastest CAGR During Forecasted Period

Asia-Pacific is expected to grow during the forecast period due to the growth of medical tourism in this region. Also, the occurrence of prominent players operating in developing markets and increasing patient pool will propel the market's growth rate in this region.

Global Arthroscopy Devices Market Growth by Region 2024-2031

North America Holds Major Market Share

Among all the regions, North America holds a significant sharebecause of the growing adoption of advanced technology and the presence of major market players in this region. Additionally, a well-established healthcare infrastructure will further enhance the market's growth rate in this region. The increase in arthroscopy procedures in the region is driven by the increasing prevalence of chronic diseases and orthopedic ailments, especially among the aging population of the region.According to the Centers for Disease Control and Prevention, an estimated 67.0 million individuals in the country are likely to be medically diagnosed with arthritis by 2025, reaching 78.0 million by 2045. Moreover, the US & Canada have among the most well-endowed healthcare infrastructures in the world, with supportive reimbursement programs that cover the costs of devices & medical procedures.For instance, in 2022, the US Department of Health and Human Services (HHS) invested around $98.9 million in improving health coverage through programs like the Marketplace, Medicaid, and the Children's Health Insurance Program (CHIP). 

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global arthroscopy devicesmarket include Arthrex Inc., CONMED Corp., KARL STORZ SE & Co. KG, and Richard Wolf GmbH.,among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance,in 2023, Smith & Nephew emerged as the primary contender in the overall arthroscopic device market, boasting a comprehensive presence across all segments. The company held a commanding share in key areas such as the high-value RF probe, disposable cannula, arthroscopic hand instrument, fluid management, and shaver blade markets.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global arthroscopy devicesmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.