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Arthroscopic Visualization Instruments Global market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The arthroscopic visualization instruments market size is expected to see strong growth in the next few years. It will grow to $3.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, December 5, 2024 /EINPresswire / --
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The arthroscopic visualization instruments market has demonstrated strong expansion in recent years with market size set to grow from $2.26 billion in 2023 to $2.40 billion in 2024, showcasing a compound annual growth rate CAGR of 6%. This growth during the historical period can be attributed to increased awareness and patient demand, increased understanding of joint health, heightened interest in arthroscopic procedures, advancements in light sources and fiber optics, and an increased emphasis on training programs.
What is the projected growth of the arthroscopic visualization instruments market?
The arthroscopic visualization instruments global market is projected to move steadily ahead in the coming years, reaching $3.04 billion by 2028 at a compound annual growth rate CAGR of 6.2%. The expansion in the forecast period can be attributed to the growth of healthcare infrastructure, government initiatives, a shift towards outpatient surgeries, international health initiatives, and regulatory frameworks. Major trends in the forecast period comprise miniaturization and portability, the creation of advanced biocompatible materials, augmented ergonomics and user experience, enhanced fluid management systems, and quantitative imaging biomarkers.
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What are the main drivers of growth for the arthroscopic visualization instruments market?
One of the major growth drivers is the expanding number of knee implant patients which will propel the growth of the arthroscopic visualization instruments market going forward. Knee implant patients, individuals who have undergone knee replacement surgery with artificial knee joints or prostheses implanted in their bodies, are looking towards arthroscopic visualization instruments in increasing numbers. This can be attributed to a myriad of factors such as rising obesity rates, advances in surgical techniques, higher lifestyle expectations, longer life expectancy, high patient satisfaction, and technological advancements in implants. For instance, in 2023, the Canadian Institute for Health Information reported that in 2021–2022, there were 8,942 knee replacements, slightly up from 8,548 in 2020–2021, with the largest demographic being patients aged 65–74, comprising 41.2% of females and 42.3% of males.
Which enterprises are leading the development in the arthroscopic visualization instruments market?
Prominent enterprises operating in the arthroscopic visualization instruments market include Johnson & Johnson Services Inc., Medtronic plc, Medline Industries Inc., Stryker Corporation, Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, Smith & Nephew plc, Smiths Medical, B. Braun Medical Inc., Arthrex Inc., Teleflex Incorporated, KARL STORZ SE & Co. KG, CONMED Corporation, KLS Martin Group, Richard Wolf GmbH, Anika Therapeutics Inc., GPC Medical Ltd., Tekno-Medical Optik-Chirurgie GmbH, Millennium Surgical Corp., DePuy Synthes, WISAP Medical Technology GmbH.
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What are the emerging trends in the arthroscopic visualization instruments market?
Major enterprises are focusing on developing innovative solutions like single-use arthroscopes. These disposable instruments, designed for one-time use, reduce infection risks and eliminate sterilization needs between procedures. For instance, in November 2023, Pristine Surgical, a US-based medical technology manufacturer, launched the Summit 4K single-use surgical arthroscope in the United States, marking a significant advancement in surgical technology. The device offers high-definition 4K imaging for enhanced surgical visualization.
What are the market segments for arthroscopic visualization instruments?
The arthroscopic visualization instruments market can be segmented by:
1 Product: Arthroscopic Implants, Arthroscopes, Visualization Systems, Motorized Shavers, Fluid Management Systems, Radiofrequency
2 Application: Knee Arthroscopy, Hip Arthroscopy, Shoulder Arthroscopy, Other Applications
3 End-User: Hospitals, Ambulatory Surgery Centers, Other End-Users
What is the geographical distribution of the arthroscopic visualization instruments market?
In 2023, North America was the largest region in the arthroscopic visualization instruments market. However, the report covers a wide geographical landscape that includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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