According to FutureWise analysis the market for Arthroscopy Instruments in 2023 is US$ 8.32 billion, and is expected to reach US$ 13.79 billion by 2031 at a CAGR of 6.50%.
Arthroscopy was especially designed as a diagnosis machine in earlier days. But technological shifts and innovations in arthroscopy meant that it could be used as a surgical instrument as well. Currently, arthroscopy is an effective and widely used technique for surgery used by various medical doctors worldwide. This is one such device that has a fiber optic light, camera, monitor and small lens. The instrument is inserted into the bones of the patient to examine and treat the affected areas and is used for treating injuries pertaining to elbow, knee, hips, ankles, shoulders and wrists. In recent years, people have shown a tendency to opt for procedures, wherein, there is reduced pain and minimal invasiveness. This factor has been instrumental in propelling the global arthroscopic instruments market growth. Another driving force in the market is a rise in the geriatric population suffering from ailments such as arthritis. However, the lack of efficient surgeons and the exorbitant costs of the procedures, particularly in developing nations, have hampered the global arthroscopy instruments market potential.
Segmentation-wise, the type of the market has been bifurcated into motorized shaver, arthroscopic implants, arthroscopy, fluid management system, RF ablation and visualization systems. The exceptional growth of this segment is due, in part, because of the reduced life span of arthroscopes. This is a result of the sterilization process, which is undertaken to prevent infections. A range of other arthroscopy applications include foot, hip, ankle, wrist, and elbow arthroscopy. The other applications segment is projected to be a rapidly growing segment because of the rise in the volume of hip arthroscopy procedures and a tendency to produce new instruments for complicated hip arthroscopy surgeries. Hospitals are predicted to capture the global market during the forecast time frame owing to the volume of surgeries that are performed in hospitals settings.