Global arthroscopic shaver market will ride on a steady 5.5% CAGR during the forecast period, 2017 to 2026, according to a new report delivered by Persistence Market Research (PMR). The report estimates revenues from worldwide sales of arthroscopic shaver to exceed US$ 600 Mn by 2026-end.
Development of Arthroscopic Shaver Complemented Versatility of Arthroscopic Procedures
The geriatric and obese populations are observed to be increasingly prone to degenerative disorders such as rheumatoid arthritis, trauma injuries, and osteoarthritis. Shoulder and knee arthroscopies are commonly performed procedures among these populations, which in turn fuel adoption of arthroscopic instruments such as shavers. Owing to the minimally invasive nature of arthroscopic procedures have gained attraction of patients to under these procedures, as they provide benefits such as shorter hospital stay & recovery time, and lower post-surgical complications. Development of arthroscopic shaver systems has complemented the versatility of arthroscopic surgeries. Majority of arthroscopic shaver systems are being equipped with a window lock, which helps in keeping the joints bloated between bouts of shaving, which have increased the efficiency of procedures.
A number of innovations have been made in arthroscopic shavers such as systems with the capability of sensing the type of shaver blade integrated in the connected handpiece. These arthroscopic shaver systems automatically set the speed of shaver blade on the basis of a preset program. Arthroscopic shavers have become an integral part of the routine arthroscopic work, in terms of both therapeutic work and improving visualization. However, shortage of skilled professionals with sound knowledge about their specific function remains a major challenge inhibiting the market expansion.
Latin America to Remain Fastest Expanding Market for Arthroscopic Shaver
Latin America is expected to remain the fastest expanding market for arthroscopic shaver, followed by Asia-Pacific excluding Japan (APEJ). Revenues from these two markets are poised to exceed US$ 200 Mn by 2026-end. Europe and North America will remain the largest markets for arthroscopic shaver, in terms of revenues. Latin America is also projected to account for a major portion of the market’s revenue share during 2017 to 2026.
Shaver handpieces are anticipated to remain the top-selling as well as the fast-selling product in the market. Control system are also expected to remain a lucrative product in the market, however their sales will register the lowest CAGR through 2026. In addition, sales of arthroscopic shaver accessories will register a relatively higher CAGR than that of control system through 2026.
Hospitals to Remain Largest End-Users of Arthroscopic Shaver
Hospitals will continue to be the largest end-users of arthroscopic shaver, followed by ambulatory surgical centers. However, orthopedic clinics will register a comparatively faster expansion in the market through 2026.
Although revenues from arthroscopic shaver sales for application in shoulder repair currently accounts for relatively lower share of the market, this application segment will witness a robust expansion through 2026. Sales of arthroscopic shaver for application in knee repair and hip repair will exhibit a relatively lower CAGR than that in shoulder repair, however these two application segments will account for higher revenue shares of the market during 2017 to 2026.
Regional & Local Vendors Offering Application-specific Products for a Wide Range of End-Users
Presence of numerous international, local, and regional vendors has made the global arthroscopic shaver market to be highly fragmented in nature. M&A activities and technological innovations are key strategies being adopted by market players, which in turn will increase the level of competition in the market. Several regional and local vendors are concentrating on offering application-specific products for a wide range of end-users. New market entrants however are finding it challenging to cope up with well-established international players in terms of technological innovations, product reliability, and quality. Key market players identified by PMR’s report include Zimmer Biomet, DePuy Synthes Mitek Sports Medicine, Smith & Nephew, Stryker Corporation, CONMED Corporation, Arthrex, Inc., and Karl Storz GmbH.
For further insights into the global arthroscopic shaver market, write in to Persistence Market Research analysts at firstname.lastname@example.org