The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Arthroscopy Devices And Equipment Global Market Report 2023, the arthroscopy devices and equipment market is expected to show significant growth in the forecast period.

The arthroscopy devices and equipment market have witnessed robust growth, with a market size reaching $5.64 billion in 2023 and a projected increase to $6.05 billion in 2024, boasting a compound annual growth rate (CAGR) of 7.1%. This surge is attributed to various factors such as orthopedic conditions prevalence, the popularity of minimally invasive surgery, an aging population, and advancements in sports medicine.

Current Landscape and Future Projections
The optimism in the market continues into the forecast period, anticipating even stronger growth. By 2028, the market is expected to reach $7.95 billion at a CAGR of 7.1%. Emerging markets growth, regulatory support, reimbursement policies, telehealth, remote consultation, and the adoption of value-based healthcare contribute significantly to this anticipated surge. Noteworthy trends in the forecast period include the integration of augmented reality (AR) and virtual reality (VR), 3D imaging and printing, artificial intelligence (AI), and a commitment to sustainable practices.

Growth In Older Population For Arthroscopy Devices And Equipment Market
The demographic shift towards an older population is a driving force for the arthroscopy devices and equipment market. The prevalence of orthopedic conditions such as arthritis, rheumatoid arthritis, and osteoarthritis is higher among the elderly. According to the World Health Organization, by 2030, 1 in 6 individuals globally will be 60 or older, and by 2050, this number will double to 2.1 billion. This demographic shift is expected to increase the demand for arthroscopic procedures, thereby driving market growth. Key players in this market include Arthrex Inc., Smith & Nephew PLC, ConMed Corporation, Stryker Corporation, and Medtronic PLC.

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Innovations In Arthroscopy Devices And Equipment Market
The landscape of arthroscopy devices and equipment is witnessing significant innovation. Major companies in the market are investing in new technologies to gain a competitive edge. A notable example is the LENS 4K surgical imaging system for 4KO (optimized) arthroscopes introduced by Smith & Nephew PLC in April 2021. This surgical video innovation is designed to enhance visualization and image quality, expanding the capabilities of arthroscopic and endoscopic procedures. The market is witnessing a push towards cutting-edge technology to meet the evolving needs of healthcare professionals.

Strategic Acquisitions to Strengthen Portfolios
In January 2021, Smith & Nephew made a strategic move by acquiring Extremity Orthopedics for $240 million, further solidifying its position in the arthroscopy devices and equipment market. This acquisition enabled Smith & Nephew to expand and strengthen its portfolio, particularly in the extremities segment. Extremity Orthopedics, based in the United States, brought valuable expertise and products into the fold, contributing to the overall growth and competitiveness of Smith & Nephew in the market.

Market Segmentation
Understanding the diverse needs of end-users, the arthroscopy devices and equipment market is segmented based on products, applications, and end-users.

1. By Product:
   • Arthroscopes
   • Arthroscopy Shavers
   • Arthroscopy Fluid Management System
   • Arthroscopy Radiofrequency System
   • Arthroscopy Visualization System
   • Arthroscopy Implants
2. By Application:
   • Knee Arthroscopy
   • Hip Arthroscopy
   • Spine Arthroscopy
   • Foot & Ankle Arthroscopy
   • Shoulder & Elbow Arthroscopy
   • Other Applications
3. By End User:
   • Hospitals
   • Ambulatory Care
   • Trauma Centers

Regional Dominance
As of 2023, North America takes the lead as the largest region in the global arthroscopy devices and equipment market, showcasing the region’s prominence in driving market dynamics.

Conclusion
The arthroscopy devices and equipment market’s growth trajectory is fueled by a combination of demographic shifts, technological innovations, strategic acquisitions, and a commitment to sustainable practices. As the market continues to evolve, industry players must remain agile and attuned to emerging trends to harness the full potential of this dynamic sector. The journey ahead promises not only financial gains but also advancements that contribute to improving patient outcomes and healthcare efficiency.

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