Growing Adoption of Arthroscopic Surgery for Knee Osteoarthritis
Knee Osteoarthritis can be treated with arthroscopic devices with minimally invasive surgical procedures through a tiny incision. These devices offer greater mobility and pain relief compared to open knee surgery. Moreover, rising prevalence of osteoarthritis is increasing the patient pool, which is expected to boost growth of the global arthroscopic devices market.
Development of Customized Arthroscopic Devices Offering Better Surgical Output
Customized (patient-specific) arthroscopic devices has gained notable traction for its cost and time efficiency along with better surgical output in recent years offering huge opportunities to key market players.
Strategic Expansion and Product Launches to Increase Market Presence
Manufacturers of arthroscopic devices are focusing on expansion of their manufacturing facilities to improve production capabilities, which is one of the key factors accelerating the arthroscopic devices market growth during the forecast period.
The arthroscopic devices market players covered in this report are Arthrex, Inc., Smith & Nephew Plc., Johnson & Johnson, CONMED Corporation, Olympus Corporation, Karl Storz GmbH & Co. KG, Stryker Corporation, and Richard Wolf GmbH. These market leaders are engaged in various product launches and development activities focusing on orthopedic surgical treatments to increase their market presence, globally.
Technological Advancements Shaping the Future of Arthroscopic Devices
Growing demand for arthroscopic devices in the field of sports medicine, is anticipated to offer huge opportunities for market players, on the back of which, the market will be valued in excess of US $10 Bn by the end of 2029. Manufacturers are developing arthroscopic devices to improve visualization with high-definition cameras, superior suturing techniques, and customized suturing materials. For instance, in March 2017, DePuy Synthes Mitek Sports Medicine (Johnson & Johnson), launched TRUESPAN meniscal repair system for ACL (anterior cruciate ligament) and Meniscal repair to make surgeries more reproducible.
Over the years, market consolidation activities such as mergers and acquisitions by leading arthroscopic device manufacturers have favored market growth, and the market is expected to exhibit a CAGR of 5% during the forecast period (2019-2029). For instance, in November 2018, Stryker announced the acquisition of K2M Group Holdings, Inc. for $1.4 billion to strengthen and expand its product offerings in minimally invasive arthroscopic devices and increase manufacturing capabilities. Such industrial developmental activities can strengthen the arthroscopic devices market and also create significant opportunities for arthroscopic devices market players.
A comprehensive perspective of the arthroscopic devices market has led our analysts to infer that the arthroscopic devices market is growing at a remarkable rate, with North America and Europe leading the global arthroscopic devices market. Increasing prevalence of arthritis and sports injuries are anticipated to provide huge growth opportunities for the key players in the arthroscopic devices market. Also, innovations in arthroscopy visualization systems will contribute to the growth of the global arthroscopic devices market. In addition, growing demand for knee and hip arthroscopy is anticipated to fuel growth of the global arthroscopic devices market.
Arthroscopic Devices Market - Scope of Report
Persistence Market Research (PMR) recently published a market study on the global market for arthroscopic devices. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the arthroscopic devices market structure. The market study presents exclusive information about how the arthroscopic devices market will grow during the forecast period of 2019-2029.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the arthroscopic devices market during the forecast period.
The study is relevant for stakeholders in the arthroscopic devices market, including arthroscopic device manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the arthroscopic devices market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on future trends in the arthroscopic devices market. Furthermore, small businesses and new entrants in the arthroscopic devices market too can make use of the information presented in this study, based on which, they can make appropriate business decisions to gain momentum in the market.
Key Segments of Arthroscopic Devices Market
PMR’s study on the arthroscopic devices market offers information divided into three important segments- product type, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in PMR’s Arthroscopic Devices Market Report
Arthroscopic Devices Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the arthroscopic devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which help analysts ensure accuracy and reliability of conclusions.
Secondary resources referred to analysts during the production of the arthroscopic devices market study include statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the arthroscopic devices market, and makes PMR’s projection on the growth prospects of the arthroscopic devices market more accurate and reliable.