Growing Cases of Musculoskeletal Diseases to Offer Lucrative Opportunities for Arthroscopy Devices
Today’s modern medical procedures are considerably different from the earlier days. Technology assists medical providers in examining and inspecting interior organs using a camera, thin tube, and light, thus allowing them to offer quality diagnosis and treatment for various health conditions without the need for extensive surgery. As the demand for numerous treatments is increasing, so is the need for advanced tools and devices to aid the procedures.
Arthroscopy, often known as arthroscopic surgery, is a minimally invasive joint surgery treatment. Arthroscopy devices or instruments can examine specific bone joint conditions, including tendonitis, rheumatoid arthritis, osteoarthritis, and bone tumors in the joints. For instance, an arthroscope is a medical instrument used to view, examine, and perform therapeutic interventions inside the joints of the body, such as the shoulder, knee, spine, hip, and elbow. The arthroscope can be introduced into the joint through a tiny incision to examine or treat orthopedic disorders.
Due to the high prevalence of musculoskeletal diseases, such as osteoarthritis and rheumatoid arthritis, arthroscopy procedures are in high demand. Furthermore, the rise in the incidence of sports injuries necessitating arthroscopic surgery to avoid total joint replacements is propelling the growth of the arthroscopy devices market further. According to Allied Market Research, the global arthroscopy devices market is anticipated to grow at a significant CAGR of 8.5% from 2021 to 2030.
In addition, arthroscopic implants now dominate the global arthroscopy devices market and are anticipated to continue so in the near future. This is due to the availability of various implant applications with better designs, such as smart and personalized implants to treat different ailments, and growth in implant adoption in arthroscopic treatments for injured joints.
According to the World Health Organization, there were 1 billion individuals aged 60 and more in 2019, with that number anticipated to climb to 1.4 billion through 2030 and 2.1 billion by 2050. As a result, the number of patients with musculoskeletal diseases will increase in the future, which in turn will increase the market demand for arthroscopy devices. Furthermore, around 1.71 billion people across the world were affected by musculoskeletal problems in 2021, and they are the major cause of disability. Therefore, medical devices that can efficiently test and treat bone and joint disorders are in high demand. Furthermore, in emerging economies, investment in healthcare facilities is rapidly expanding. All these factors are anticipated to aid the growth of the global arthroscopy devices market in the coming years.
Covid-19 originated as a human health issue and has since evolved into a major threat to global trade, commerce, and finance. The outbreak of Covid-19 had negatively affected the global arthroscopy device market, owing to the imposed and prolonged lockdown in numerous countries across the globe. However, the Covid-19 pandemic elevated the relevance of government healthcare facilities, resulting in an increase in global healthcare spending. Moreover, as the world is getting back to normalcy, several research facilities for arthroscopy devices have been reopened at full capacity. This will aid the global arthroscopy devices market to recover gradually.
Author’s bio:
Vaishanavi Kumbalwar is a fun-loving, independent, unconventional and original thinker who loves to put her thoughts into words. She holds a bachelor’s degree in Mechanical Engineering and currently working as Senior Associate Content Writer at Allied Market Research. She thrives on challenges and loves to explore different writing styles to bring off her fondness for being a writer and blogger. She is an enthusiast of different cultures, places and cuisines and loves to travel off the tourist path and explore new things.
