The global arthroscopic devices market is expected to grow over the next few years, according to a new report from Micro Market Monitor.
Here are 10 trends in the global arthroscopic devices market:
1. The global arthroscopic devices market was $4.5 billion in 2013.
2. The market is expected to grow at a compound annual growth rate of 6.7 percent from 2014 to 2019.
3. Patients are now more aware of benefits from less invasive procedures — including less hospitalization and less pain — which drives demand for arthroscopic devices.
4. Arthroscopic surgeries also require less healing time and are less complicated than other approaches, which drives interest.
5. Key players in the arthroscopic device market are Stryker, Zimmer, Synthes, Medtronic, Smith & Nephew and DJO Global.
6. Patients can be discharged the same day after arthroscopic surgery, which is attractive for patient quality of care as well as lowers costs.
7. New generations of arthroscopic devices facilitate greater precision in several highly sensitive spine surgeries, acting as a major market driver for these devices.
8. There is an increased aging population in North American, which holds the highest potential in complementing the growth of the market.
9. The increased use of arthroscopic devices in joint replacements and spine surgeries across North America will help keep global arthroscopic devices in a top position in the healthcare sector.
10. The higher obesity rate is also driving this market, as obese people are more prone to degenerative osteoarthritis and other conditions that can be treated arthroscopically.