Research and Development in arthroscopy over the last couple of decades has proved to be a milestone, transforming the treatment and recuperation of patients and tackling a major healthcare issue associated with aging, according to a new report by GBI Research.
The new report states that the growing elderly population around the world are the cause of an increasing global prevalence of osteoarthritis, which causes degeneration of articular cartilage. The developing obesity problem in various nations is also an issue, with obesity being the second largest risk factor after aging for the onset of osteoarthritis, as individual’s joints are placed under a great deal of physical stress.
A high volume of knee and shoulder arthroscopy procedures, as well as the evolution of hip arthroscopy, is driving the growth of the arthroscopy implants market, and new minimally invasive surgical techniques and sophisticated implant materials have boosted the popularity of arthroscopies considerably.
Arthroscopy implants are less invasive than more traditional techniques such as joint reconstruction, arthroscopic rotator cuff repair and Anterior Cruciate Ligament (ACL) repair, and thanks to recent improvements in arthroscopy implants and techniques, they are becoming more common . The use of innovative bio-absorbable materials in the design of arthroscopy implants also helps provide high-level mechanical strength for joints and promotes natural healing and bone growth.
The minimally invasive procedures additionally promise patients a short recovery time, improved procedure outcome, and greater cost effectiveness. Arthroscopy allows for the improved visualization of repairs without the need to cut through muscle and create large incisions, enabling surgeons to perform the procedure quicker. Shorter recovery times associated with minimally invasive procedures are another major cost-cutting bonus, as treatment can be carried out as an outpatient procedure, alleviating hospitalization expenditure.
The global arthroscopy devices market was valued at $3.1 billion in 2011, and is forecast to exceed $4.3 billion by 2018 at a Compound Annual Growth Rate (CAGR) of 4.9 percent. The global arthroscopy implants market was valued at US$1.2 billion in 2004 and grew to US$1.8 billion in 2011 at a CAGR of 6.2 percent.