Report

The Global Arthroscopy Devices Market size is estimated at USD 1.65 billion in 2024, and is expected to reach USD 2.18 billion by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).

The COVID-19 pandemic was an unprecedented public health concern and has negatively impacted the studied market. Preserving essential health care resources was prioritized in the wake of COVID-19, starting from mid-March 2020, wherein the surgeons were instructed to perform only the essential surgical operations. For instance, In April 2020, as per the Journal of Arthroplasty, an estimated 30,000 primary and 3,000 revision knee replacement surgeries were canceled every week in the early 2020. These numbers showcase the profound impact of COVID-19 on joint disorders surgeries. However, intensive efforts were being undertaken by several healthcare authorities, hospitals, and surgeons to restore the flow of arthroplasty procedures to pre-pandemic levels. ERAS programs (Enhanced Recovery after Surgery) were developed during a pandemic to shorten hospital stay, morbidity, and surgical complications. Furthermore, with the restored regular operating volume of surgeries, there were significant patient inflow due to postponing and cancelation of surgeries earlier. Hence, such changes in surgical practices has assisted in restoring the surgical volume post-COVID-19 pandemic.

Certain factors that are driving the market growth include increasing incidences of sports injuries, the rising geriatric population, and technological advancements in arthroscopic implants. Fractures, strains, sprains, and dislocations are the most common sports injuries. The usual self-treatment recommended for these injuries includes rest, ice, compression, and elevation (RICE). For serious injuries that need more attention, an arthroscopy could be recommended, depending on the situation. Injuries can occur in various places and can be of various types. Some of the common injuries include shoulder, hip, knee, elbow, wrist, or ankle injuries; cartilage tears or ligament injuries; inflammation of the lining of the joints; removal of loose fragments of bone or cartilage that become lodged in a joint; and osteoarthritis caused by cartilage loss in a joint. Some of these may require arthroscopic surgery, as it is helpful in their diagnosis and treatment.

In September 2020, According to the United States Centers for Disease Control (CDC), participation in organized sports is increasing. Each year, approximately 30 million children and adolescents participate in youth sports in the United States. Out of them, athletes from high schools account for an estimated 2 million injuries, 0.5 million doctor visits, and 30,000 hospitalizations, every year. Moreover, more than 3.5 million kids under the age of 14 years receive medical treatment for sports injuries, every year. Children between the age of 5-14 years account for nearly 40% of all sports injuries treated in hospitals. In the United States, injuries associated with participation in sports and recreational activities accounted for 25% of all traumatic brain injuries among children, in 2020. The above-mentioned statistics exhibit an increased number of injuries that require arthroscopy procedures, which is expected to have a positive impact on the market studied.

However, the average standard cost of an outpatient treatment using arthroscopic surgery for complicated tears can cost about USD 7,400-9,000, or even more, depending on the age of the patient, the severity and exact location of the injury, the related injuries, and on the hospital where the procedure is performed. The Agency for Healthcare Research and Quality sponsors a series of medical databases. One such database, namely, Healthcare Cost and Utilization, shows that an outpatient arthroscopic surgery typically costs USD 8,970. For insured patients, out-of-pocket costs typically consist of a specialist co-pay, i.e., mostly a hospital copay of USD 100 or more, and coinsurance of 10%-50% for the procedure, which could reach the yearly out-of-pocket maximum. In April 2020, According to the Kaiser Family Foundation, the average hospital copay is USD 132 for outpatient surgery, and USD 232 for inpatient surgery, and the average coinsurance rate is 17-18%. This shows that the average cost of arthroscopic procedures is very high, which could lead to people not opting for the procedure. Hence, high cost proves to be a potential restraint for the market.

Arthroscopy Devices Market Trends

Knee Arthroscopy Segment is Expected to Witness Growth Over the Forecast Period

Degenerative knee disease is a globally occurring phenomenon among the elderly, which is gaining prevalence due to an increase in the global geriatric population. For instance, In February 2021, According to World Health Organization, approximately 28% of people older than 50 years experience knee pain from degenerative knee disease. The pain is impairing in nature, and often, a knee replacement procedure is the final and only resort to alleviate the pain. Arthroscopic knee surgery for degenerative knee disease is the most common orthopedic procedure in the United States and other developed countries. The demand for knee arthroscopy is increasing globally, due to the increasing prevalence of sports injuries, particularly those acquired in contact sports.

Osteoarthritis of the knee is a leading cause of morbidity and disability in the United States. For instance, In September 2021, According to the Centers for Disease Control and Prevention (CDC), a person's average lifetime risk for symptomatic osteoarthritis of the knee is almost 50%. Knee arthroscopy has become one of the most commonly performed orthopedic procedures to treat knee osteoarthritis. The latest National Health Statistics Report from the Centers for Disease Control and Prevention states that approximately 1,8572,000 knee arthroscopies were performed in 2021. Many of these procedures were performed to treat pain attributed to knee osteoarthritis. Thus, the increasing cases of osteoarthritis of the knee are generating the need for arthroscopy devices which is fueling the studied market.

Thus, the aforementioned factors are propelling the growth of the market.

North America is Expected to Dominate the Arthroscopy Devices Market

In the past two decades, there has been a drastic increase in the number of arthroscopies performed in North America. Knee arthroscopy and hip arthroscopy witnessed the highest growth. According to estimates derived from the Humana Claims database, the number of hip arthroscopies increased nearly seven-fold, from 2009 to 2021. The highest incidence was registered by patients belonging to the age group of 35-44 years. The number of hip arthroscopies performed in North America is continuing to increase, along with an increase in the complexity and diversity of procedures. The diversity of procedures is indicative of the advancements in arthroscopy products and the highly active research ecosystem for arthroscopic applications.

The increase in arthroscopy procedures in the region is driven by the increasing prevalence of chronic diseases and orthopedic ailments, especially among the aging population of the region. For instance, as per the Centers for Disease Control and Prevention article published in February 2021, Musculoskeletal diseases affect more than one out of every two persons in the United States age 18 and over, and nearly three out of four age 65 and over. Trauma, back pain, and arthritis are the three most common musculoskeletal conditions reported, and for which health care visits to physicians' offices, emergency departments, and hospitals occur each year. The rate of musculoskeletal diseases far outstrips that of circulatory diseases and respiratory diseases, which affect about one in three persons, with the majority reporting relatively easily treatable conditions such as chronic hypertension or hay fever and bronchitis. The cost of treating major musculoskeletal diseases, which often includes long-term pain and disability, is also greater than for treatment of many other common health conditions. With the aging of the United States population, musculoskeletal diseases are becoming a greater burden every year. Thus, increasing joint disorders are fueling the requirement for the arthroscopy devices which is boosting the growth of the market.

Additionally, there has been a drastic increase in the prevalence of sports injuries in North America.For instance, as per More than half a million people suffered basketball-related injuries last year, compared to 485,000 hurt on bikes and 418,000 injured playing football. Trampolines bouunced 108,000 United States residents into the hospital and 47,000 people get hurt by playing golf. Thus, the increasing sports injuries are responsible for increasing joint disorders which is increasing the demand for arthroscopy devices in te region. This is directly correlated to the increased number of arthroscopy procedures that are being performed in the region.

Arthroscopy Devices Industry Overview

The arthroscopy devices market is highly competitive and consists of a number of major players. Companies, like Arthrex Inc., Conmed Corporation, Johnson & Johnson (DePuy Synthes), Karl Storz GmbH & Co. KG, Medtronic PLC, Richard Wolf GmbH, Smith & Nephew PLC, and Stryker Corporation, among others, hold the substantial share in the market studied.

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