North America Arthroscopy Devices Market Size, Share & Industry Trends Analysis Report By Type, By Application (Knee Arthroscopy, Hip Arthroscopy, Shoulder & Elbow Arthroscopy), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Arthroscopy Devices Market would witness market growth of 6.6% CAGR during the forecast period (2022-2028).
Arthroscopy devices are used to detect for illnesses like osteoarthritis, rheumatoid arthritis, tendonitis, and bone tumors in the joints. The primary element driving the need for arthroscopy treatments is the rise in the prevalence of musculoskeletal problems. There is an increase in the investments by the companies and governments on the advancement of healthcare sector.
Involvement in organized sports is on the rise, according to the US Centers for Disease Control and Prevention (CDC). In the United States, almost 30 million children and adolescents participate in youth sports each year. Every year, high school athletes are responsible for an estimated 3 million injuries, 2.5 million doctor visits, and 30,000 hospitalizations. Furthermore, every year, more than 3.5 million children under the age of 14 require medical treatment for sports-related injuries. Children aged 5 to 14 account for roughly 40% of all sports-related injuries treated in hospitals. In 2017, injuries resulting from engagement in sports and recreational activities accounted for 21% of all traumatic brain injuries among children in the United States. According to the facts provided above, there has been a growth in the number of injuries requiring arthroscopy procedures, which is predicted to have a beneficial impact on the market under consideration
The high disposable income of the people living there and increased health awareness among the population makes the region a feasible place for the growth of the arthroscopy devices market. According to the United States Department of Health and Human Services, one out of every four persons in the United States has arthritis, with annual costs for medical care and lost earnings of $303.5 billion. Around 78 million persons in the United States are estimated to have been diagnosed with arthritis by 2040. Furthermore, by 2040, the geriatric population in the United States is predicted to increase to 21.6 percent, up from 16 percent in 2019. Furthermore, the healthcare infrastructure in the Asia-Pacific region's developing countries has swiftly increased.
The US market dominated the North America Arthroscopy Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,848.1 million by 2028. The Canada market is estimated to grow at a CAGR of 5.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.3% during (2022 - 2028).
Based on Type, the market is segmented into Arthroscopes, Arthroscopic Implants, Radiofrequency Systems, Fluid Management Systems, Visualization Systems, Powered Shavers, and Others. Based on Application, the market is segmented into Knee Arthroscopy, Hip Arthroscopy, Shoulder & Elbow Arthroscopy, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Scope of the Study
Market Segments Covered in the Report:
- Arthroscopic Implants
- Radiofrequency Systems
- Fluid Management Systems
- Visualization Systems
- Powered Shavers
- Knee Arthroscopy
- Hip Arthroscopy
- Shoulder & Elbow Arthroscopy
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Johnson & Johnson
- Smith & Nephew PLC
- ConMed Corporation
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Karl Storz SE & Co. KG
- Arthrex, Inc.
- Richard Wolf GmbH
- Henke Sass Wolf GmbH
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