Arthroscopy procedures and products market analysis

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2. ARTHROSCOPY PROCEDURES AND PRODUCTS MARKET ANALYSIS • Arthroscopy Procedures and Products Market, By Product Type (Arthroscopes and Visualization Systems, Arthroscopic Resection Systems, Arthroscopic Fluid Management Systems, Arthroscopic Implants, Arthroscopy Radiofrequency (RF) Systems, Arthroscopic Drills and Fixation Systems, Other Arthroscopy Instruments and Accessories), By Procedures (Shoulder Arthroscopy, Hip Arthroscopy, Knee Arthroscopy, Elbow Arthroscopy, Small Joints Arthroscopy, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Arthroscopy is a minimally invasive procedure that is used for diagnosis and treatment of diseases and conditions such as arthritis, frozen shoulder, carpal tunnel syndrome, damaged cartilage, and fragments of loose bone or cartilage. An arthroscope is a device used in arthroscopy procedures. It is a fiber-optic video camera that allows to view inside the joint through a high-definition video monitor. The device aids in determining the severity or type of injury. • Statistics: • The global arthroscopy procedures and products market is estimated to account for US$ 8,621.3 Mnin terms of value by the end of 2027. • Global Arthroscopy Procedures and Products Market: Drivers • Increasing adoption of minimally-invasive procedures is expected to boost growth of the global arthroscopy procedures and products market over the forecast period. For instance, according to Coherent Market Insights’ analysis, the global minimally invasive surgery devices market is expected to surpass US$ 30 Bn by 2018. Arthroscopy offers easy recovery and high success rate while minimizing recovery time and trauma. • Increasing number of sports-related accidents and injuries is also expected to boost growth of the market. For instance, according to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S. Anterior cruciate ligament (ACL) injury is a major injury in professional sports that can be treated by arthroscopy. • North America region held dominant position in the global arthroscopy procedures and products market in 2018, accounting for 54.7% share in terms of volume, followed by Europe.

4. Global Arthroscopy Procedures and Products Market: Restraints • However, shoulder arthroscopy procedure is prone to airway complications due to extravasation of irrigating fluids and extensive swelling across the chest, shoulder, face, and neck, and sometimes extending to the oral cavity. This is expected to hinder adoption of arthroscopy procedures. • Moreover, high cost of arthroscopy procedures and products is also expected to hamper growth of the global arthroscopy procedures and products market. The national average cost for arthroscopic knee surgery at inpatient facilities is US$ 21,990, while the same procedure at outpatient facilities averaged US$ 12,550. • Global Arthroscopy Procedures and Products Market: Market Opportunities • Pricing pressures and changing healthcare environment in the U.S. has prompted suppliers to reduce prices. This in turn has resulted in reduced profit margins. Therefore, players in the market can focus on adopting M&A strategies to expand their presence in emerging markets of Asia Pacific, Middle East and Africa, and Latin America. • Increasing growth in the sports medicine sector is expected to offer lucrative growth opportunities the market players. For instance, Andrews Sports Medicine & Orthopedic Center will start a clinic in Cullman, Alabama in January 2020.

5. Market Trends/Key Takeaways • Increasing adoption of arthroscopy procedures for the treatment of meniscus is expected to boost growth of the market. Menisci are semi-lunar shock absorbing cartilages between the femur and tibia. Meniscal surgery of the knee is the most common arthroscopic procedure. • Key players in the market are focused on expanding their businesses. For instance, Excel Orthopedic Physical Therapy, a provider of orthopedic physical therapy started a new office in Berkeley Heights, Union County.

6. Global Arthroscopy Procedures and Products Market: Competitive Landscape • Major players operating in the global arthroscopy procedures and products market include, Arthrex, Inc., CONMED Corporation, Johnson & Johnson, KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, and Stryker Corporation. • Major players in the market are focused on adopting marketing strategies to enhance their market share. For instance, in October 2019, Anika Therapeutics, Inc. announced plans to demonstrate its osteoarthritis pain management and joint preservation and restoration regenerative therapies at the Annual Scientific Meeting of the International Society for Hip Arthroscopy (ISHA) during October 17-19, 2019 in Madrid, Spain. • Key players in the market are focused on For instance, in July 2019, Smith & Nephew announced the results of the first ever prospective clinical trial to evaluate the effectiveness of repairing Horizontal Cleavage Tears (HCTs) using Smith & Nephew's NOVOSTITCH Meniscal Repair System.

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