The global arthroscopy market will likely grow at a 4.6 percent compound annual growth rate through 2023, according to a GlobalData report.
Here are seven observations:
1. Up from $4.19 billion in 2016, the market is expected to hit $5.73 billion by 2023.
2. The increasing number of sports injuries, driven by repetitive training in the United States and China, will spur market growth.
3. Growing obesity rates; an aging population; and increasing demand for minimally invasive techniques are driving market growth, as well.
4. Physicians are seeking more durable and biocompatible implant materials.
5. The arthroscopy market spans 39 countries.
6. With improved training and induction of economical products, Brazil, China and India will see greater arthroscopic product adoption through 2023.
7. The hip arthroscopy segment will see the most rapid growth during the forecast period, with a CAGR of 14.5 percent.