Global Arthroscopy Devices Market - 2019-2026
|関節鏡デバイスの世界市場 Global Arthroscopy Devices Market - 2019-2026|
|出版日: 2019年11月01日||ページ情報: 英文||
An arthroscopy is a minimally invasive surgical procedure used to visualize and diagnose problems in the joint through an arthroscope. Arthroscope has a small lens and the fiber optic light of the device is connected to a camera and monitor, which helps the surgeon to observe and perform surgery. This technique is carried out in the joints of knees, shoulders, hips, elbows, ankles, and wrist areas.
The arthroscopy devices market has seen significant growth in the medical sector due to major private equity transactions, several mergers, innovative product launches, and the rise in older population. Technological advances in the healthcare sector also boost the arthroscopy devices market.
The global arthroscopy devices market is expected to grow at a CAGR of XX% to reach market value of USD XXXX million by 2025.
Global Arthroscopy Devices Market 2016-2025, in USD Million
Increasing prevalence of orthopedic disorders coupled with aging population is expected to drive the arthroscopy devices market over the forecast period.
There has been a significant increase in the number of orthopedic disorders across the world over the last decade. Limited physical activity and eating habits can negatively influence the body's homeostasis. This complication intensifies with aging, making most people aged 60 years and above susceptible to orthopedic diseases such as arthritis. Osteoarthritis in people of this age group can affect the joints and put stress on the knees, hips, and lower spine. Sophisticated treatment options and improved standards for health care have increased life expectancy, resulting in a further rise in the population of this age group. Arthritis, trauma, back pain, and osteoporosis are the most common joint problems worldwide. For instance, in the US, approximately 70% of the adults aged between 55 and 78 years suffer from osteoarthritis, which is expected to increase during the forecast period. According to Centers for Disease Control and Prevention (CDC), in 2013-2015 an estimated 54.4 million US adults annually had some form of arthritis and by 2040 the numbers is further expected to increase to 78 million US adults aged 18 years and above. Also, according to HCUP Fast Stats,2014, Arthroplasty knee procedure is third most common operations during inpatient stays with 752,941 stays at rate of 237 per 100,000 stays.
High cost of implants and instruments is one of the major market hindrance factor.
The cost of arthroscopy implants and instruments are highly expensive as the cost of raw materials used in manufacturing these devices consist of expensive materials like metal alloys, titanium, cobalt, and other bioabsorbable materials. The price of arthroscopic implants used in the shoulder, knee, hip, ankle and other small joint surgeries vary, and the price of implants will be determined as per the severity and condition of the damaged area. The cost of the procedure also may vary from depending on the implant, surgeon, country, facility of the hospital and their services. For knee arthroscopy, the price ranges from $4,899 - $8,000; for hip arthroscopy, the average cost ranges from $15,000 - $59,000; for shoulder arthroscopy, the average cost ranges from $700 - $6,000 depending upon the type of injury.
By Product Type
On the basis of product type, arthroscopic implants hold the major market share and are expected to grow over the forecast period.
Implants are used as an alternative for the damaged or missing biological structure, or to enhance the existing structure near joints. The body of the implants is made of biomaterials such as polymers and fibers they are being made of Titanium, silicone, and apatite for rust free conditions and based on the usage of the implants.
The average implants cost varies from $1,000-$15,000 depending on the patient condition and severity of the damaged area. Most of the implants are implanted through minimally invasive techniques such as arthroscopy owing to the existence of many advantages compared to open surgeries. Some of the benefits of MI surgeries include cost-effectiveness in the long-run, speedy recovery, less surgery time, fast post-surgery recovery, and improved quality of life. Due to these advantages, many insurance companies especially private health insurance companies are offering reimbursement programs and encouraging the usage of arthroscopy implants.
North America dominates the global arthroscopy devices market in 2017. Presence of many global players and favorable reimbursement for arthroscopy to boost the North America arthroscopy devices market over the forecast period.
In 2016, global arthroscopy devices market was dominated by the Americas, which accounted for a 49.50% share. The US was the largest revenue contributor in this region owing to the presence of many global players and favorable reimbursement for arthroscopy. The growing orthopedic disorders are expected to increase the need for arthroscopy devices in this region. For instance, according to CDC estimated that in 2013, 52.5 million people in the US had arthritis, compared to 47.8 million people in 2005. Also, growing number of an aging population increase the demand for arthroscopy devices. Further, the market in Americas is driven by growing number of technological advances adopted by manufacturers for treating and diagnosis of orthopedic disorders. For instance, in September 2016, Zimmer Biomet announces to launch Vanguard total knee arthroscopy system. In addition, in January 2016, Arthrex announces to launch Knotless distal biceps implant system which is used to perform the single surgical process without the need to tie a knot.
Market share of Global Arthroscopy Devices Market by Region, 2017
North America 38.32%
Asia Pacific 27.71%
South America 6.24%
The market is witnessing high competition with the presence of tier I, tier II, and tier III companies.
CONMED, DePuy Synthes, Smith & Nephew, and Stryker are some of the leading players that offer a broad range of arthroscopy devices. Though the overall arthroscopy devices market is fragmented, the arthroscopic implants segment of the market is dominated by few global players such as Arthrex, CONMED, DePuy Synthes, Smith & Nephew, and Stryker. New product launches and advances in technology will increase the competition among the existing as well as new and emerging players.
Also, the vendors offering single-use and reusable accessories with different features, which are used as supporting devices during arthroscopy have tremendous growth opportunities and will continue to generate significant sales especially in emerging and developed countries.