Market Trends of Global Arthroscopy Devices Industry
This section covers the major market trends shaping the Arthroscopy Devices Market according to our research experts:
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.
