Transparency Market Research has published a new report titled "Arthroscopy Devices Market (Arthroscopes, Arthroscopy Shavers, Arthroscopy RF systems, Arthroscopy Visualization Systems, Arthroscopy Implants, Arthroscopy Fluid Management Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its report store.
Albany, NY -- (SBWIRE) -- 09/03/2014 -- Arthroscopy is a surgical procedure to diagnose and treat disorders caused by injury of a joint. Literally speaking, arthroscopy means visual examination of the joint. Even though the procedure has been around for more than 50 years, the advancement in techniques and improvement in medical equipment has led to an increase in the popularity of the procedure as well as the growth of the global arthroscopy devices market. The procedure involves making tiny incisions on both sides of the affected joint. Since it is a less invasive surgery compared to an open surgery, recovery time is relatively short and the rate of success is quite high. Arthroscopy is most commonly performed on the knee and the shoulder, but is also done to examine other joints such as the ankle, wrist or hip.
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Global arthroscopic products market and its dynamics
The market for arthroscopy devices can be segmented based on types and geography.
On the basis of types:
Arthroscopy Radiofrequency System
Arthroscopy Visualization System
Arthroscopy Fluid Management System
Arthroscopy Implants ( knee, hip, shoulder and others)
On the basis of geography:
Rest of the World
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As more and more individuals, both young and old, turn towards sports and outdoor activities, the incidences of sports injuries has risen. In addition to this, the expansion of geriatric and obese population has led to a parallel rise in the prevalence of musculoskeletal disorders such as rheumatoid arthritis, osteoarthritis, and bone tumor. This has concurrently increased the demand for minimally invasive surgeries. All these factors have fuelled the growth of arthroscopy devices market. Furthermore, government regulations in favor of medicine as well as the emergence of new markets in countries such as China, Brazil and India are sure to strengthen the industry.
In contrast, unfavorable taxation policies by the European and U.S. governments, inflexible regulatory requirements for approvals and recalls, rising complications post surgery, and the implementation of the Patient Protection and Affordable Healthcare Act of 2010 have negatively affected the growth of this industry.
Based on information provided by the Center for Disease Control and Prevention (CDC), each year high school athletes in the U.S. alone account for 2 million injuries, 30,000 hospitalizations and 50,000 visits to the doctor. It is no wonder then that the demand for arthroscopic procedures is growing exponentially. The global arthroscopy devices market was estimated to be worth USD 3.3 billion in 2012 and is predicted to reach USD 5.1 billion in 2019, registering a CAGR of 6.0% from 2013 to 2019.
Of all the segments, arthroscopic visualization system is expected to be the fastest growing segment, at an estimated value of USD 2 billion in 2012 and registering a 9% CAGR during 2013-2019. The arthroscopic radiofrequency ablation system is the second fastest segment and is predicted to worth USD 230 million by the year 2019. Arthroscopic shavers, on the other hand, are expected to be the slowest growing segment of the overall market. Region-wise, North America made up the largest share of the market and was valued at over USD 1.5 million in 2012.
The field of arthrocare has undergone a transformation over the years and many companies are constantly investing in R&D activities in search of innovative technologies to enhance treatment of orthopedic ailments, reduce infrastructure cost, improve OR and surgeon efficiency and enhance patient satisfaction. There are a handful of industry leaders who dominate the global arthroscopy devices market. These include Arthrocare Corporation, Arthrex Inc., DePuy Synthes, Inc. (A Johnson & Johnson Company), Conmed Corporation, Stryker Corporation, and Smith & Nephew. Besides these, there are also new players that have entered the market which have increased the level of competition.
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