ARTHROSCOPY DEVICES MARKET ANALYSIS

Arthroscopy Devices MarketSize and Trends

The global arthroscopy devices market was valued at US$ 4,310.3 million in 2018, and is expected to witness a CAGR of 6.0% over the forecast period (2019 – 2027).

Global Arthroscopy Devices Market Share (%) Analysis, By Product Type, 2019

Source: Coherent Market Insights Analysis (2019)

High Cases of Joint Replacement Surgery and Increasing Geriatric Population is Expected to Drive Growth of the Arthroscopy Devices Market

Increasing demand for joint replacement procedures in North America is driving growth of the arthroscopy devices market. According to data of Canadian Institute for Health Information (CIHI) published in June 2019, around 130,000 knee and hip surgeries are performed in Canada annually. According to the same source, during the period 2009 to 2015, knee replacement surgery and hip replacements surgery increased by 20.3% and 20% respectively. According to the Centers for Disease Control and Prevention (CDC), in the U.S. during 2013-2015 nearly 54.4 million adults were diagnosed with arthritis, and the number is expected to reach 78.4 million by 2040. Such factors are expected to facilitate demand for arthroscopy devices in the near future.

Furthermore, increasing geriatric population is a major factor driving growth of the arthroscopy devices market around the globe owing to increasing knee and joint related issues among the geriatric population. According to data published in 2014 by the Australian Commission on Safety and Quality in Health Care, in 2012-13, 33,682 patients over 55 years of age were admitted to hospitals for knee arthroscopy.

Global Arthroscopy Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

 Source: Coherent Market Insights Analysis (2019)