Arthroscopic devices are medical instruments which allow for minimally invasive diagnosis & treatment of joint conditions such as torn meniscus or damaged cartilage. In recent years there has been a considerable growth in investment & research into better ways of manufacturing these products – making it one of the most rapidly developing arenas for medical entrepreneurs. In this article, we will explore what you need to know about the arthroscopic devices market & how it is continuing to shape the future of medical care on a global scale.
The global arthroscopy devices market is estimated to be worth $7,264.8 million in 2022 and is expected to witness a CAGR of 4.9% from 2022 to 2029, reaching $10,135.8 million by 2029.
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Firstly, there is an increasing focus on developing new materials which have enhanced biocompatibility capabilities – helping reduce irritation within patients & allowing for comfortable long-term usage. On top of this, many companies are now producing tailored versions that provide specialized solutions for different applications such as pediatric use or trauma management – meaning users can benefit from optimized forms tailored according to application-specific needs. Furthermore, numerous organizations have begun offering value added services such as imaging analysis packages or remote control access – helping them remain compliant whilst ensuring data safety is maintained across all facilities.
In addition, there is an increasingly growing demand for single-use systems due to their convenience & cost-effectiveness; providing healthcare workers with a safe solution without needing to worry about sterilization or cross contamination between patients. Furthermore, digital solutions have become commonplace amongst arthroscopic devices; users can now efficiently store & transfer data from anywhere in the world – greatly reducing administrative burden & improving communication between providers & patients alike.
- Arthrex, Inc.
- Stryker Corporation
- Smith & Nephew Plc.
- CONMED Corporation
- KARL STORZ GmbH & Co. KG
- Olympus Corporation
- Richard Wolf GmbH
- Johnson & Johnson
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Impact of COVID-19 on Arthroscopy Devices Market
During the Covid-19 pandemic, the demand for medical supplies skyrocketed. To fulfil the increasing demand for medical supplies such as masks, gloves, and protective spectacles, manufacturers halted or reduced the production of Arthroscopic Devices and began the production of PPEs to ensure a consistent supply in the market. Furthermore, due to government-issued strict lockdowns and guidelines, non-essential treatments and operations were halted or postponed, resulting in a decrease in demand for Arthroscopic Devices. The COVID-19 pandemic had a significant impact on the arthroscopy devices market, but it recovered after the situation improved.
The arthroscopy devices market is highly competitive and consists of a number of major players. Manufacturers of arthroscopic devices are focusing on expansion of their manufacturing facilities to improve production capabilities. To increase their global market presence, market leaders are engaging in various product launches and development activities focusing on orthopedic surgical treatments.
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Arthroscopic Devices Market Categorization
Arthroscopic Devices Market by End User
- Ambulatory Surgical Centers
- Orthopedic Clinics
Arthroscopic Devices Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
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