Arthroscopy Devices Market Report

The global arthroscopy devices market is significantly propelled by the increasing preference for minimally invasive surgical techniques. These methods provide significant benefits, including decreased pain after surgery, quicker healing periods, and lower chances of complications and infections. The appeal of such benefits to both patients and healthcare providers drives the demand for arthroscopy, which excels in precisely diagnosing and treating joint conditions through small incisions and advanced visualization tools. The general public's preference for minimally invasive surgical procedures is expanding, which has contributed to the increased usage of arthroscopy devices. Arthroscopy is becoming more popular than traditional surgeries due to advantages such as lowered muscle damage, faster recovery and faster rehabilitation. Throughout the forecast period, the growing preference for minimally invasive surgical procedures will drive market growth.

Arthroscopic devices are too expensive for consumers with regular or low incomes. Another barrier to the market expansion of arthroscopic devices is the high cost of arthroscopy devices, along with infrastructure and training expenditures. Furthermore, the shortage of trained industry experts will be a major restraint on the global arthroscopic devices market's expansion. The strict FDA guidelines and regulations are one of the key factors limiting the growth of the arthroscopic device market. The increasing number of recalls issued by the USFDA due to defective products, component inconsistencies, or sterility issues is hindering market growth. Aside from that, significant flaws in manufacturing processes, as well as uncontrolled and insufficient storage conditions, raise the risk of contamination and can result in patient infection.

Beyond cost and accessibility, the arthroscopic device market faces other challenges. The rising demand for minimally invasive procedures increases competition among manufacturers, challenging differentiation. Additionally, even though their minimal risk, potential complications associated with arthroscopic surgeries may dissuade both patients and healthcare providers. These concerns can hinder market growth as they impact decision-making and adoption rates. These factors will limit the growth of the arthroscopic device market.

Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In June 2024, Stryker will enhance the global arthroscopy devices market by partnering with IRCAD North America, a subsidiary of Atrium Health, to create an advanced educational hub in Charlotte, North Carolina. As part of a multi-year agreement, Stryker will equip the IRCAD NA centre with advanced medical devices and training tools, focusing on robotics, medical VR/AR, and surgical AI. This initiative aims to advance medical education and improve patient care. However, in November 2023, Pristine Surgical unveiled its Summit 4K single-use arthroscope, heralded as a pioneering development in the field. The device, which gained FDA 510(k) clearance in January 2023, offers a fully-integrated, high-resolution solution designed to streamline arthroscopic procedures. With its seamless integration into existing endoscopy setups and a subscription-based delivery model, Summit aims to enhance surgical efficiency and accessibility, complemented by cloud-connected image management and recycling options.

The number of arthroscopies conducted in North America has increased dramatically during the last two decades. The most rapid growth was seen in knee and hip arthroscopy. According to a Centres for Disease Control and Prevention, musculoskeletal diseases affect more than one out of every two people in the United States aged 18 and over, and nearly three out of every four people aged 65 and up.  Arthritis, trauma and back pain are the three most frequent musculoskeletal diseases reported, with numerous visits to doctors' offices, emergency rooms, and hospitals each year. In accordance with the US Centres for Disease Control and Prevention, an estimated 78.4 million individuals aged 18 and older would have doctor-diagnosed arthritis by 2040. Furthermore, the government initiatives in North America has driving the market growth for arthroscopy devices. Following the introduction of the Research to Solutions (R2S) and MSD Solutions Pilot Grant programs in 2023, the National Safety Council is allocating an additional US$260,000 this year to support innovative safety solutions aimed at preventing work-related musculoskeletal disorders (MSDs). This initiative, part of the MSD Solutions Lab funded by Amazon, has now committed up to US$535,000 in grants to advance effective methods for reducing MSDs, a leading cause of workplace injuries.