Market Trends of North America Arthroscopy Devices Industry
This section covers the major market trends shaping the North America Arthroscopy Devices Market according to our research experts:
Arthroscope is Expected to Hold Significant Market Share over the Forecast Period
An arthroscope is a small tube that is inserted into the body. It contains a system of lenses, a small video camera, and a light for viewing. The arthroscope segment is expected to show a significant market share owing to the high prevalence of orthopedic conditions coupled with the adoption of advanced treatment procedures. For instance, according to the CDC's update in October 2021, about 1 in 4 United States adults (23.7%), or about 58.5 million people, had doctor-diagnosed arthritis. Such a huge prevalence of this disease will lead to increased adoption of orthopedic procedures such as arthroscopy, driving segmental growth.
Moreover, market players in North America focus on growth strategies such as new product launches, partnerships, mergers, and acquisitions, which are driving the growth of the segment over the forecast period. For instance, in November 2022, Integrated Endoscopy launched its second generation NUVIS single-use Arthroscope, a first-of-its-kind 4K endoscope designed for use in arthroscopic surgical procedures.
United States is Expected to Garner a Significant Share of the Market Over the Forecast Period
The major factors boosting the market growth in the United States are the increasing number of orthopedic conditions, well-established healthcare infrastructure, and the presence of several market players. For instance, according to statistics from the Arthritis Foundation 2022, osteoarthritis is the most common form of arthritis, affecting more than 32.5 million people in the US, and about half of the knees with anterior cruciate ligament (ACL) injuries will develop osteoarthritis within 5 to 15 years. By 2040, 78 million Americans are projected to have osteoarthritis. Such an increase in orthopedic conditions is expected to drive the growth of the market in the United States over the forecast period.
Moreover, market players in the United States focus on growth strategies such as new product launches, partnerships, mergers, and acquisitions. For instance, in August 2021, Smith+Nephew showcased its sports medicine innovations for joint repair and arthroscopic enabling technologies during the American Academy of Orthopaedic Surgeons' 2021 Annual Meeting held in San Diego, CA. The latest technologies include INTELLIO Connected Tower, WEREWOLF FASTSEAL 6.0 Hemostasis Wand, and the Regeneten Bioinductive Implant.
