Arthroscopy Devices Market Is Witnessing Robust Growth in North America and Asia Pacific

A procedure for diagnosing and treating internal body parts is known as arthroscopy, and the devices used for the examination are known as arthroscopy devices. Arthroscopy devices are medical devices that enable the visualization and therapeutic treatment of the interior of a joint (such as shoulder, knee, wrist, hip, elbow, and ankle). Arthroscopy procedures are minimally invasive which may help reduce patient recovery time, infections during surgery, and prevent post-surgery complications. Arthroscopy devices include motorized instruments, mechanical instruments, electrosurgical instruments, and special instruments such as meniscus repair sets, electrocautery electrodes, ACL sets, punches, shavers, and probes.

Worldwide, the demand for arthroscopy devices has increased due to the increasing prevalence of musculoskeletal disorders. According to a German federal government agency, the Robert Koch Institute, musculoskeletal diseases are the leading cause of chronic pain, limited physical ability, and reduced quality of life, worldwide. According to the World Health Organization (WHO), around 1.71 billion people have musculoskeletal conditions worldwide. Moreover, the WHO predicts that the number of people affected by bone and joint illnesses will double in the coming years. Musculoskeletal diseases become more common with the increasing age. This in turn is expected to augment the arthroscopy devices market growth.

In North America, the increasing demand for joint (hip and knee) replacement procedures is driving the arthroscopy devices market growth. Almost one million hip and knee replacement surgeries are performed every year in the United States. Total knee replacement surgeries are projected to grow 673% to 3.5 million procedures per year, by 2030. Furthermore, the demand for minimally invasive procedures will continue to grow as the aging global population grows in size. According to the Population Research Bureau (PRB), the number of Americans ages 65 and older ias projected to nearly double from 52 million in 2018 to 95 million by 2060. This in turn is also expected to propel the arthroscopy devices market growth in this region.

The Asia Pacific region is also expected to witness robust growth, owing to increasing aging population in the region. One of the major factors hampering the arthroscopy devices market growth is increasing number of FDA (Food and Drug Administration) recalls due to component inconsistency, product failures, or compromised sterility issues. For example, in March 2021, the FDA recalled Class 2 arthroscopy device (manufactured by ReNovo, Inc.) because non-sterile product was shipped to customers, labelled as sterile. Thus, rise in product recalls is one of the major restraints for the arthroscopy devices market.