24-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global arthroscopy instrument market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Arthrex, DePuy Synthes, Smith & Nephew, CONMED, Stryker, Medtronic, Zimmer Biomet, B. Braun, Karl Storz, Olympus, MEDICON, Sklar, Millennium, and GPC Medical are some of the key vendors of arthroscopy instrument across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the arthroscopy instrument market study.
This review is based on a report by Zion Market Research, titled “Arthroscopy Instrument Market by Product (Arthroscope, Arthroscopy Implants, Visualization Systems, Fluid Management Systems, RF Ablation Systems, and Powered Shavers), by Application (Knee Arthroscopy, Shoulder Arthroscopy, and Others), and by End User (Hospitals and Ambulatory Surgery Centers & Clinics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 - 2024.”- Report at https://www.zionmarketresearch.com/report/arthroscopy-instrument-market
Citing an instance, in January 2018, Arthroscopy Association of North America and VirtaMed signed a two-year partnership deal making VirtaMed the most preferred partner for virtual reality simulation training programs. Reportedly, the two firms are projected to work jointly for enhancing the training arthroscopic surgery skills & standards.
As estimated in this report, the global arthroscopy instrument market stood at US$ 4,050 million in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this arthroscopy instrument market is expected to reach US$ 6,222.5 million by the end of the forecast period. The main products available in this arthroscopy instrument market are Arthroscope, Arthroscopy Implants, Visualization Systems, Fluid Management Systems, RF Ablation Systems, and Powered Shavers. Among them, the demand for Arthroscopy Implants is relatively higher and the trend is anticipated to remain so over the next few years, notes the arthroscopy instrument market research report.
High Popularity Of Autonomous Systems & Robotics To Propel Product Sales
“Escalating demand for autonomous systems and robotics in arthroscopy instruments for minimally invasive surgical procedures along with expansion of healthcare sector in emerging economies are likely to influence the growth of arthroscopy instrument market in the years ahead,” says the author of this study. Apart from this, massive use of these devices in hospitals and ambulatory surgical centers & clinics are projected to boost the expansion of arthroscopy instrument market in the coming years.
Increase In Sports- Related Surgeries To Support Regional Dominance
Regionally, North America has been leading the worldwide arthroscopy instrument market and is anticipated to continue on the dominant position in the years to come, states the arthroscopy instrument market study. High rate of sports-related surgeries and enlarged popularity of modern surgical equipment is the main factor behind the dominance of the North America arthroscopy instrument market. The huge presence of renowned market players being headquartered in North America is another significant factor that is supporting the growth of this regional arthroscopy instrument market. In addition, the rise in the patient population base and favorable medical reimbursement policies are likely to contribute significantly towards the growth of arthroscopy instrument market in North America.
The global arthroscopy instrument market is segmented as follows:
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