Global arthroscopy market is anticipated to reach USD 6.34 billion by 2024, according to a new report by Grand View Research, Inc. Increasing geriatric population base and rising obesity levels are the major factors driving the growth.
Rising medical tourism, cost efficiency and faster recovery rate are some of the factors resulting in increased adoption. As a result, demand for arthroscopy is increasing, since it’s used in the diagnosis of joint conditions. In addition, constant decline in the price coupled with reimbursement coverage is spurring the adoption of arthroscopy in the treatment of injuries.
Presently, the sector is fragmented in nature with presence of many players competing with each other. The key players are implementing mergers and acquisition strategies to strengthen their position by the expansion of customer base and reduce the number of competing players.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/arthroscopy-market
Further key findings from the study suggest:
·
Arthroscopic implant segment dominated globally
and is estimated to remain dominant throughout the forecast period. Increasing
adoption of implants for diagnosis is mainly driving the growth of the segment.
·
The arthroscopic visualization systems are
anticipated to witness strong demand during the forecast period due to their
ability to provide clear high definition resolution of internal organs.
·
The demand for Fluid Management Systems is going
to increase considerably during the forecast period with new products entering
the sector especially in emerging countries such as Brazil, Mexico and South
Africa.
·
The key players have faced challenges due to
severe pricing pressures and stringent regulatory guidelines. The existing
companies are finding it difficult to garner strong revenues.
·
Rising demand for minimally surgeries is also
supporting the revenue growth since arthroscopy supports the same.
·
China, India, Brazil and South Africa are
anticipated to register significant growth over the forecast period owing to
rising patient awareness related to arthroscopy, presence of largest pool of
geriatric population prone to injuries and the surging prevalence of chronic
diseases such as osteoarthritis, bone tumor and rheumatoid arthritis.
·
Lenient regulatory approval procedures in Asia
Pacific are offering easy entry of the new products in the region.
·
Some of the key players operating at the global
level include but are not limited to ConMed Corporation, Arthrex Inc, Stryker
Corporation, Olympus Corporation, Smith & Nephew plc, DePuy Synthes and
Zimmer Biomet.
·
North America dominated the global scenario with
regional share of over 40.0% in 2015. Technological advancements, such as
introduction of advanced visualization systems, primarily led to highest
revenue generation in the region. Visualization systems help in minimally
invasive surgery by providing 3D image of the joint.
·
In addition, favorable reimbursement structure,
presence of large target patient population and well defined regulatory
framework are few factors that are positively affecting the market.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the Arthroscopy market on the basis of product, application, and region:
Arthroscopy Market, by Product
·
Powered Shave Systems
·
Visualization Systems
·
Fluid Management Systems
·
Ablation Systems
·
Arthroscopes
·
Arthroscope Implants
·
Accessories and Disposables
Arthroscopy Market, by Application
·
Hip
·
Knee
·
Shoulder
·
Foot & Ankle
·
Hand & Wrist
·
Elbow
·
Sports Medicines
Arthroscopy Market, by Region
·
North America
o
U.S.Arthroscopy Market, by Product
o
U.S.Arthroscopy Market, by Application
o
Canada Arthroscopy Market, by Product
o
Canada.Arthroscopy Market, by Application
·
Europe
o
Germany Arthroscopy Market, by Product
o
U.K.Arthroscopy Market, by Product
·
Asia Pacific
o
China Arthroscopy Market, by Product
o
Japan Arthroscopy Market, by Product
·
Latin America
o
Brazil Arthroscopy Market, By Product
o
Mexico Arthroscopy Market, By Product
o
Rest of Latin America Arthroscopy Market, By
Product
·
MEA
o
South Africa Arthroscopy Market, By Product
o
Middle East Arthroscopy Market, By Product
For press release of this report - http://www.grandviewresearch.com/press-release/global-arthroscopy-market
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company provides syndicated research reports, customized research reports, and
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company offers market intelligence studies ensuring relevant and fact-based
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