APEJ is also contributing moderate shares to the market due to large population base and improving healthcare infrastructure facilities expected to show a robust growth to the global handheld arthroscopic instruments market.
The global Handheld Arthroscopic Instruments Market is expected to reach US$ 3,193.3 million in 2022 and is projected to increase at a CAGR of 4.8% to US$ 5,352.0 million from 2022 to 2032. Medical professionals’ rising demand for specialist hand devices is credited with driving growth. A CAGR of 5.6% was seen for the market for handheld arthroscopic instruments from 2016 to 2021.
On the basis of regional presence, the global handheld arthroscopic instruments market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, and Asia-Pacific excluding Japan, Japan, and Middle East & Africa. Currently, North America is contributing the leading shares to the global handheld arthroscopic instruments market in terms of value and anticipated to register a significant CAGR over a forecast period.
APEJ is also contributing moderate shares to the market due to large population base and improving healthcare infrastructure facilities expected to show a robust growth to the global handheld arthroscopic instruments market. Europe is the most lucrative market for the handheld arthroscopic instruments market. MEA is at a nascent stage to the global handheld arthroscopic instruments market and anticipated to register a decent growth to the market over a forecast period. Overall, the global handheld arthroscopic instruments market is expected to show significant growth over a forecast period.
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Arthroscopic instruments are used in procedures related to hand, knee, hip, shoulder and joint procedures. These instruments are mostly metallic and non-disposable. Arthroscopic instruments are used in arthroscopy which is used for the treatment, visualization, and diagnosis of joints related problems. Handheld arthroscopic instruments includes knives, graspers, probes, scissors, dissectors, punches, scissor punches and shears. These hand instruments comes in variety of configuration to suit surgeon preference and surgical need. Hand instruments are often sold as a complete package for treatment of a specific indication. Graspers and cutters are generally used in shoulder procedures whereas biters are usually used in knee surgeries. A basic arthroscopic kit consist of an arthroscope, a light source and cable, camera system and monitor, arthroscopic probe, an arthroscopic grasper, a shaver and arthroscopic punches. Arthroscopic surgeries offer several benefits over open surgeries as these surgeries tends to give less postoperative pain and these results in faster recovery.
Handheld Arthroscopic Instruments Market: Drivers and Restraints
The global handheld arthroscopic instruments market is anticipated to register a significant CAGR over a forecast period. The rise in number of ambulatory surgical centers (ASCs) in developed countries and ongoing technological advancements to make the procedure easier and safer, is anticipated to boost the demand of the handheld arthroscopic instruments market and drives the global handheld arthroscopic instruments market. The increase in the demand of physicians for specialized hand instruments is likely to fuel the growth of handheld arthroscopic instruments market. The increase in the number of arthroscopic procedures performed is also anticipated to drives the global handheld arthroscopic instruments market.
However, the long lifespan of hand instruments as most of these instruments are metallic and long lasting may hamper the demand for the handheld arthroscopic instruments market and restrain the growth of the global handheld arthroscopic instruments market. The non-disposable nature of these instruments limits the need of these instruments in market and restrain the growth of global handheld arthroscopic instruments market. Also, many skilled surgeons are unwilling to try the new designs and stay with their older generations of handheld instruments due to familiarity is another factor also hinder the demand for the handheld arthroscopic instruments market.
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Handheld Arthroscopic Instruments Market: Key Players
Some of the major market players in handheld arthroscopic instruments market globally include Smith & Nephew, Karl Storz, Stryker, Arthrex, Zimmer Biomet, Tornier N.V. and others. These companies are highly focused on the development of advanced handheld arthroscopic instruments further contributing to the growth of handheld arthroscopic instruments market globally.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Handheld Arthroscopic Instruments Market: Segmentation
The global handheld arthroscopic instruments market is segmented on the basis of product type, application and end user:
On the basis of product type, the global handheld arthroscopic instruments market is segmented into:
On the basis of application, the global handheld arthroscopic instruments market is segmented into:
On the basis of end user, the global handheld arthroscopic instruments market is segmented into:
Report Highlights:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 02, 2023
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