The global market is anticipated to secure a valuation of USD 3.3 billion in 2023 and is forecasted to rise at a CAGR of 4.7%. The market is estimated to be worth USD 5.2 billion from 2023 to 2033.
Market growth is attributed to the increasing demand for physicians for specialized hand instruments. From 2018 to 2022, the global market registered a CAGR of 3%.
Arthroscopic instruments are mostly metallic and non-disposable and used in arthroscopy, which is used for the treatment, visualization, and diagnosis of joints related problems. They come in various configurations to suit surgeon preferences and surgical needs. Hand instruments are sold as a complete package for treating a specific indication.
Graspers and cutters are generally used in shoulder procedures, whereas biters are in knee surgeries. A basic arthroscopic kit consists of arthroscopy, a light source, and cable, a camera system and monitor, an arthroscopic probe, an arthroscopic grasper, a shaver, and arthroscopic punches. Arthroscopic surgeries offer several benefits over open surgeries as these surgeries tend to give less postoperative pain, resulting in a fast recovery.
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The global market is anticipated to register a significant rate over a forecast period. The rise in ambulatory surgical centers (ASCs) in developed countries and ongoing technological advancements to make the procedure easy and safe boost the demand for handheld arthroscopic instruments.
The increase in the demand for physicians for specialized hand instruments is likely to fuel the growth of the global market. Moreover, the increase in arthroscopic procedures is also anticipated to drive the global market. The rise of the aging population and advancements in technology, especially in the medical and healthcare sector, is likely to fuel the global market.
Most of these instruments are metallic and long-lasting, which may hamper the demand for handheld arthroscopic devices. Also, many skilled surgeons need to be estimated to try the new designs and stay with their older generations of handheld instruments due to familiarity being another factor hindering the demand for handheld arthroscopic devices.
The non-disposable nature of these instruments limits the need for these instruments and restrains the growth of the global handheld arthroscopic instruments market.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.7% |
| Market Valuation (2023) | USD 3.3 billion |
| Market Valuation (2033) | USD 5.2 billion |
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Knee surgery is estimated to dominate the global market by capturing a share of 43.3% by 2033 based on application. The growing advanced technologies in the healthcare sector are enhancing several transformations in medical procedures.
Adopting advanced technologies integrated with the Internet of Things and superior-high-quality equipment drives the global market. Some of these technologies widely adopted for knee surgery include robot-assisted surgery, 3D printing, and Telemedicine. Also, patients prefer these surgeries for better treatment and quick relief. Therefore, knee surgery is estimated to dominate the global market by 2033.
Based on end user, the hospital category dominates the global market by securing a share of 58.4% during the forecast period. The growing number of knee implant patients, rising joint-related issues, and re-replacement of knee treatments fuel the hospital sector. Additionally, several highly skilled doctors are providing the latest technology equipped with their instruments to ensure successful surgeries.
Healthcare providers handle patients' safety by ensuring accuracy with real-time monitoring systems to manage them. Healthcare providers recover patients by providing them with post-operative care after surgery. Due to a vast number of equipment, better infrastructure, and technological advancement, the hospital sector is estimated to lead the global market by 2033.
| Countries | Forecast Share Between 2022 to 2033 |
|---|---|
| The United States | 37.5% |
| Germany | 10.3% |
| Japan | 3.8% |
| Countries | Forecast CAGR Between 2022 to 2033 |
|---|---|
| Australia | 4.6% |
| China | 6.1% |
| India | 6.9% |
| The United Kingdom | 4.6% |
As per the analysis, North America is projected to be the leading market during the forecast period. Technological advancement has brought significant growth in the demand for handheld arthroscopic devices in North America.
In the United States, the growing geriatric population, the increasing number of surgical interventions, and the growing demand for improved medical technology all create significant possibilities for the handheld arthroscopic instrument market.
Key players are focusing on inorganic growth strategies, such as partnerships and collaborations, and new product launches in the United States, which is anticipated to fuel the market demand. North America accounts for a total 39.8% share of the global market. For instance
Europe is estimated to collect a revenue share of 30.5% of the handheld arthroscopic instrument market in Europe in 2023. The growing awareness regarding the use of advanced surgical instruments with favorable healthcare policies is expected to drive Europe’s market over the forecast period.
Increase in the prevalence of surgeries such as hip, knees, and shoulder, which in turn is estimated to increase the demand for handheld arthroscopic instruments. Furthermore, increased investment in Europe’s market due to a sophisticated healthcare system adds to the market growth.
Asia Pacific’s handheld arthroscopic instrument market is expected to increase due to rising healthcare awareness and demand for advanced medical technology. Additionally, the rise in the number of surgeries performed, the growing geriatric population, and increasing healthcare expenditure in China are expected to lead the market development in the coming years.
The key players in the market are also expanding their presence in this area, and increased government and private spending as a proportion of GDP (resulting in better healthcare facilities and infrastructure) is adding to the market growth.
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Tecomet, Pacific Medical Inc., Sterikare, M/S Devesh Meditech, Medcity Surgicals, Nebula Surgical Pvt.Ltd, Aashis Global Diagnostics & Surgical are some of the start-up companies operating in the handheld arthroscopic instrument market.
Some key participants in the global handheld arthroscopic instrument market include Smith & Nephew, Karl Storz, Stryker, Arthrex, Zimmer Biomet, and Tornier N.V., among others.
The market is highly competitive due to the presence of the leading key participants. While global players such as Smith & Nephew, Karl Storz, and Stryker account for considerable market size, several regional-level players are also operating across crucial growth regions, particularly in the Asia Pacific.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | The United States, The United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Region, Application, Product Type, End Use |
| Key Companies Profiled | Smith & Nephew; Karl Storz; Stryker; Arthrex; Zimmer Biomet; Tornier N.V. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Asia Pacific region is projected to emerge as a lucrative market.
The growth potential of the handheld arthroscopic instruments market is 4.7% through 2033.
The high cost of adoption is likely to limit market growth.
North America is likely to generate 35% revenue in 2023.
The global market size to reach USD 5.2 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Knives 5.2. Graspers 5.3. Scissors 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. For Knee Surgery 6.2. For Shoulder Surgery 6.3. For Hip Surgery 6.4. For Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. For Hospitals 7.2. For Ambulatory surgical centers (ASCs) 7.3. For Specialty Clinics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Smith & Nephew 18.2. Karl Storz 18.3. Stryker 18.4. Arthrex 18.5. Zimmer Biomet 18.6. Tornier N.V. 18.7. ConMed Linvatec 18.8. DePuy Mitek 18.9. Medifix 18.10. MediVision 19. Assumptions & Acronyms Used 20. Research Methodology
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Handheld Arthroscopic Instruments Market
