Smith & Nephew, Arthrex, and Stryker Lead Global Arthroscopy Device Market to Exceed $2.9 Billion by 2030

VANCOUVER, BC, CANADA, March 11, 2024 /EINPresswire.com/ -- iData Research, a renowned global consulting and market research firm specializing in the medical device, dental, and pharmaceutical sectors, has released its 2024 report on the Global Arthroscopic Devices Market. This comprehensive report offers an in-depth analysis of various market segments, including arthroscopes, disposable cannulas, arthroscopic hand instruments, fluid management, shaver blades, radiofrequency (RF) probes, drill guide system and disposables, and suture passers.

One notable challenge facing the arthroscopic device market is the prevalence of procedures performed in ambulatory surgery centers (ASCs). In 2023, a majority of arthroscopic procedures took place in ASCs, particularly in well-developed regions, often owned by the performing physicians. These ASCs typically operate within tighter budgets and are more price-sensitive compared to hospitals. To remain competitive, suppliers are offering attractive pricing options to ASCs, mitigating price inflation and limiting market expansion.

However, the increasing population of elderly individuals is closely associated with a higher prevalence of musculoskeletal disorders and joint-related issues. This demographic shift significantly contributes to the growing demand for arthroscopic procedures, essential for both diagnosing and treating these conditions. As the elderly population continues to grow, the necessity for effective diagnostic and therapeutic methods becomes more pressing, underscoring the importance of arthroscopy in enhancing musculoskeletal health outcomes in this demographic.

Key highlights from iData's report include:

Robust Market Expansion: The Global arthroscopy devices market reached nearly $2.3 billion in value in 2023, and it is anticipated to surpass $2.9 billion during the forecast period.

Increase in Procedural Volume: As of recently, the numbers of hip arthroscopies, along with wrist, ankle, elbow, and shoulder procedures have been increasing. For hip arthroscopies, novel products have emerged which meet surgeon demand. In terms of arthroscopic wrist, ankle, and elbow procedures, there is demand for premium-priced products designed for small joint arthroplasty. Lastly, due to the rapid increase in biceps tenodesis procedures and a moderate rise in arthroscopic rotator cuff procedures, shoulder procedures are increasing.

Competitive Landscape: In the Global arthroplasty devices market, Smith & Nephew (NYSE: SNN), Arthrex, and Stryker (NYSE: SYK) have established themselves as the foremost market share leaders. Furthermore, a comprehensive analysis encompassed around 20 other companies, such as Anika Therapeutics (NASDAQ: ANIK), Avanos (NYSE: AVNS), Medtronic (NYSE: MDT), DePuy Synthes, CONMED (NYSE: CNMD), Karl Storz, Zimmer Biomet (NYSE: ZBH), and others.

For more information on the Global Arthroscopy Device Market, visit our report product page:

https://idataresearch.com/product/global-arthroscopic-devices-market/

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