North America has dominated the arthroscopy instrument market. The global market for arthroscopy instrument is expected to grow at a CAGR 5.90% over the period.
PUNE, MAHARASHTRA, INDIA, September 18, 2019 /EINPresswire.com/ — The arthroscopy instrument market is projected to reach approximately USD 5.43 billion by 2024 from USD 3.58 billion in 2017, with a CAGR of 5.9% over the forecast period. Arthroscopy Instruments are designed to offer complete support in meeting the process demands of advanced arthroscopic procedures. In the surgical procedure of arthroscopy, the internal structure of a joint is examined for diagnosis and treatment. Arthroscopic interventions on small joints, such as wrist, elbow, and finger joints that play an important role in diagnosis and therapy.
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Arthroscopy procedure has some potential advantages over traditional open surgery such as less pain after the operation, faster healing time and lower risk of infection. It is a trusted and developed method for surgery used by various doctors and surgeons across the globe. The arthroscopy instruments such as punches, scissors, and graspers are used for flawlessly handling arthroscopic surgical procedures.
The Availability of Technically Advanced Instruments Propel the Growth of the Market
Increasing sports-related injuries, a growing number of ambulatory surgery centers and the availability of technically advanced instruments propel the growth of the market. Further, a rising preference for minimally invasive surgery that is capable of the innovative pain mapping process and results in shorter recovery processes provides a growing demand for the market. However, the high cost of arthroscopy instruments hindering the growth of the market. Moreover, the rapid expansion of healthcare infrastructure across emerging countries provides a growth opportunity for Arthroscopy Instrument Market.
Arthroscopy Instrument Market is Segmented into Product Type, Application, and End-User
The arthroscopy instrument market is segmented into product type, application, and end-user. On the basis of product type, the arthroscopy instrument market is categorized into arthroscopes, arthroscopic implants, fluid management systems, radiofrequency systems, visualization systems, power shaver systems, and another arthroscopy equipment. On the basis of application, it is categorized into knee arthroscopy, hip arthroscopy, spine arthroscopy, foot, and ankle arthroscopy, shoulder & elbow arthroscopy and other arthroscopy applications. Further, the global arthroscopy instrument market on the basis of the end-user is categorized into hospitals, ambulatory surgical centers & clinics and others.
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Regional Review of Arthroscopy Instrument Market
Geographically, the Arthroscopy instrument market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is the largest region for the Arthroscopy instrument market owing to the presence of major players in this region. Europe is the second-largest region for the Arthroscopy Instrument Market owing to the growing prevalence of bone-related disorders and increasing government support in research and development.
Major Key Players in the Arthroscopy Instrument Market
The key players in the global arthroscopy instrument market are Arthrex, Johnson & Johnson, CONMED Corporation, Karl Storz GmbH, Medtronic Plc, Richard Wolf GmbH, Smith & Nephew Plc, Stryker Corporation, Wright Medical Group, and Zimmer Biomet Holdings, Inc.
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Source: EIN Presswire