The global arthroscopy visualization systems market was about USD 427.3 Million in 2021, with the global market estimated to surge ahead at a CAGR value of 7.1% to reach a valuation of USD 902.5 Million by the end of 2032. The visualization systems are driving the global arthroscopy visualization systems market as of 2021.
Market Outlook:
| Data Points | Market Insight |
|---|---|
| Market Value 2021 | USD 427.3 Million |
| Estimated market Value 2022 | USD 453.8 Million |
| Estimated market Value 2032 | USD 902.5 Million |
| CAGR of 2022 to 2032 | 7.1 % |
| Market share of Top 5 countries | 60.9 % |
| Key Market players | Arthrex, Inc., Stryker Corporation, Smith & Nephew Plc., CONMED Corporation, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, Johnson & Johnson |
Arthroscopes are thin fiber-optic scopes that enable visualization of the interior of joints, such as the knee, shoulder, wrist, hip, ankle, and elbow. The arthroscopic system is used in the minimally-invasive surgical procedures.
Arthroscopy is a minimally invasive surgery used to detect and treat joint problems. It permits a surgeon to view the joint without having to make a sizable incision. At a specific point during arthroscopy, surgeons can even repair joint damage using pencil-thin surgical instruments inserted through extremely small incisions.
In this operation, the surgeon makes a tiny incision and inserts a skinny tube with a fiber-optic video camera inside. A high-definition video display receives the view from inside the joint.
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Overall, arthroscopy visualization systems market sales account for approximately 6.6% revenue share in the global arthroscopy products market, which was valued at around USD 6.5 Billion, in 2021.
The global arthroscopy visualization systems market recorded a historic CAGR of 5.1% in the last nine years from 2012 to 2021.
One of the main factors driving the growth of the global market for arthroscopy visualization systems is the increase in the elderly population, who are considerably more susceptible to trauma, osteoarthritis, and other knee and joint-related disorders. Soft tissue degeneration and associated problems, particularly those of the knee, are influenced by aging. The elderly population makes up more than one-third of all hip and shoulder injuries worldwide.
For instance, the World Health Aging 2020 highlights published by the UN Department of Economic and Social Affairs indicated that there were 727 million individuals who were either 65 or older worldwide in October 2020, making up 9.3% of the entire world's population. By 2050, the aging population is projected to grow by 16% or over 1.5 billion people.
Furthermore, the development of technologically advanced instruments, implants, and equipment for arthroscopy surgeries with arthroscopy visualization systems will foster growth worldwide, as will the rising number of arthroscopic procedures as a result of the rise in sports injuries, ligament tears, meniscus tears, and other similar reasons.
Osteoarthritis is more common in the elderly and obese population, which will raise the demand for arthroscopy visualization systems. The Centers for Disease Control and Prevention (CDC) estimated that in 2015, osteoarthritis impacted 32.5 million individuals in the United States and about 54.4 million people overall.
By 2040, this figure is projected to increase to 78 million. Obesity triples the likelihood of developing knee osteoarthritis, making it a significant risk factor.
The aforementioned factors are expected to serve as probable market drivers for the global arthroscopy visualization systems market and help the market to expand significantly in the forecast period.
Due to the numerous advantages that minimally invasive surgical procedures have over open surgeries, including small surgical incisions, lower hospitalization costs, and fewer post-operative complications, minimally invasive surgeries are becoming increasingly popular among surgeons.
The market for arthroscopy visualization systems is likely to see significant growth potential due to rising preference and acceptance of minimally invasive and cost-effective procedures employing arthroscopic instruments.
Opportunities for developing technologies like improvised visualization equipment in the form of high-definition cameras or autoclavable cameras, and improved suturing techniques, are projected to arise from the growth of sports injuries and medicine, particularly arthroscopy.
Additionally, advanced technologies in hip arthroscopies, such as computer-assisted surgeries and virtual reality surgical simulation training before actual operations, have increased the precision of pre-operative planning and are anticipated to broaden the scope of hip arthroscopy, which will favorably impact the market for arthroscopy visualization systems.
The abovementioned factors are capable of acting as lucrative opportunities for manufacturers operating in the arthroscopy visualization systems market.
Principal Consultant
The market for arthroscopy visualization systems and products was negatively impacted by the coronavirus outbreak. Due to cancellations of planned operations at various medical facilities, due to travel limitations that have an impact on logistics and product supply, there has been an increase in interruptions at production sites, in the supply chain, and in other commercial activities.
A rise in product recalls is one of the reasons restricting the market for arthroscopy visualization systems. A product recall is a process of collecting every faulty item that has been sold or is currently on the market.
The expenses of all repairs and replacements must be covered by the manufacturer when it recalls a product because of a problem. The replacement cost for many products could be in the millions of dollars, which limits the market's growth as well as that of a company.
For instance, in Jan 2022, the FDA recalled a product called Camera Control Unit (CCU) of Stryker Corporation on the charge of medical safety notification January. The images on the monitor obtained were upside-down in the wrong position due to a software flaw in the camera control unit (CCU). Conversion to an open operation, extra medical treatment, or revision surgery all included the risk of negative outcomes.
The USA accounted for USD 137.3 Million withholding the majority of the global market share of about 32.1% by the end of 2021. The American Orthopedic Society for Sports Medicine, the Arthritis Foundation, and the Arthroscopy Association of USA are a few of the organizations that receive major funding and assistance from the USA Federal Government for orthopedic care and treatment.
Due to the USA FDA's supportive environment and the country's manufacturers' extensive Drivers, Restraints, Opportunities, and Threats efforts, the USA is the largest market in the world for arthroscopy visualization systems.
Germany has driven the European market by holding the majority of the regional market share of about 33.9% and achieving a valuation of USD 45.9 Million at end of 2021. The market is being driven by an increase in the number of urgent care patients with long-term illnesses, an increase in Level 3 grade injuries among the aging population & athletes, and an increase in the number of accidents countrywide.
The market for arthroscopy visualization systems is anticipated to develop as a result of the increasing incidence of hip and spine surgeries.
China dominated the regional market by reaching a valuation of USD 22.66 Million and is expected to grow over a CAGR of 8.5% over the forecast period. The market’s expansion can be attributed to the country's growing medical tourism industry.
The market in China is also anticipated to be driven by a rising aging population, increased awareness of sports-related injuries, and rising disposable income. The global market for arthroscopy visualization is expanding as a result of rising demand for minimally invasive procedures and low levels of postoperative complications.
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By product, the visualization systems have driven the global market by holding the majority of the market share of about 48.8% as of 2021. Smaller incisions, lower soft tissue trauma, less post-operative discomfort, quicker healing times, and lower infection rates are some of the aspects that contribute to the product’s market expansion.
By application, knee arthroscopy is leading the segment for the global market by accounting for USD 131.0 Million by the end of 2021. With the increasing geriatric population, bone-related issues are also emerging, especially the rising prevalence of osteoarthritis, as well as an increasing number of sports-related injuries, which have driven this segment.
By end user, orthopedic clinics have led the global market by holding a majority of the market share of about 31.1% as of 2021. The availability of advanced healthcare infrastructure and the presence of a large patient pool are some of the major factors contributing to the market growth of orthopedic centers.
The expansion of manufacturing facilities is a top priority for manufacturers of arthroscopy visualization systems since it will increase their production capacity. the exploration of new markets and access to a sizable customer base, will offer companies prospects for expansion on a global scale.
To strengthen their position in the global market for arthroscopy visualization systems, the major manufacturers are launching a variety of products and doing research and development activities that concentrate on orthopedic surgical procedures.
For instance:
Similarly, recent developments related to companies manufacturing arthroscopy visualization systems, have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2012 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA). |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, Japan, China, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Turkey, GCC Countries, South Africa, and North Africa |
| Key Market Segments Covered | Product, Application, End User, and Regions |
| Key Companies Profiled | Arthrex, Inc., Stryker Corporation, Smith & Nephew Plc., CONMED Corporation, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, and Johnson & Johnson |
| Pricing | Available upon Request |
The global arthroscopy visualization systems market is worth USD 427.3 Million at end of 2021.
The arthroscopy visualization systems market is expected to reach USD 902.5 Million by end of 2032 at a CAGR of 7.1%.
Technological advancements in arthroscopy visualization systems, and increasing bone and joint-related issues among people, leading to an increase in the prevalence of arthritis and chronic illness, are some of the key factors that drive this market.
The North American region has the highest market share of about 34.1% by the end of 2021 in the global arthroscopy visualization systems market.
India accounted for about 3.9% of the global market share in the 2021 arthroscopy visualization systems market.
The USA, China, Germany, the United Kingdom, and India are the top five countries, which are expected to drive demand in the arthroscopy visualization systems market.
Arthrex Inc., Stryker Corporation, Smith & Nephew Plc., CONMED Corporation, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, and Johnson & Johnson, are some of the key players in the arthroscopy visualization systems industry.
From 2012 to 2021, the market for arthroscopy visualization systems devices expanded at the rate of 5.1%.
China accounted for 55.6% of the market share at the end of 2021 in the East Asian market.
Germany displayed a market share of around 33.9% in 2021 in the European arthroscopy visualization systems market.
1. Executive Summary | Arthroscopy Visualization Systems Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Volume (Units) Analysis 2012 to 2021 and Forecast, 2022 to 2032 7. Global Market - Pricing Analysis 8. Global Market Demand (in Value USD Million) Analysis 2012 to 2021 and Forecast, 2022 to 2032 9. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Product 9.1. Arthroscopes 9.2. Visualization Systems 9.3. Consumables & Accessories 10. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Application 10.1. Knee Arthroscopy 10.2. Hip Arthroscopy 10.3. Shoulder Arthroscopy 10.4. Others 11. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By End User 11.1. Hospitals 11.2. Ambulatory Surgical Centers 11.3. Orthopedic Clinics 11.4. Others 12. Global Market Analysis 2012 to 2021 and Forecast 2022 to 2032, By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia 12.6. Oceania 12.7. Middle East and Africa (MEA) 13. North America Market Analysis 2012 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2012 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2012 to 2021 and Forecast 2022 to 2032 16. East Asia Market Analysis 2012 to 2021 and Forecast 2022 to 2032 17. South Asia Market Analysis 2012 to 2021 and Forecast 2022 to 2032 18. Oceania Market 2012 to 2021 and Forecast 2022 to 2032 19. Middle East and Africa (MEA) Market Analysis 2012 to 2021 and Forecast 2022 to 2032 20. Market Structure Analysis 21. Competition Analysis 21.1. Johnson & Johnson 21.2. Arthrex, Inc. 21.3. Stryker Corporation 21.4. Smith & Nephew Plc. 21.5. CONMED Corporation 21.6. KARL STORZ GmbH & Co. KG 21.7. Olympus Corporation 21.8. Richard Wolf GmbH 22. Assumptions and Acronyms Used 23. Research Methodology
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Arthroscopy Visualization Systems Market
