Shoulder Arthroscopy Market to Reach $712.12 Million, globally, by 2032 at 5.1% CAGR: Allied Market Research
Increase in the demand for minimal invasive procedures, technological advancements in arthroscopy equipment and rise in incidence of shoulder injuries drives the growth of the global shoulder arthroscopy market.
PORTLAND, Ore., Nov. 22, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Shoulder Arthroscopy Market by Product Type (Arthroscopes, Power Shaver Systems, Shoulder Arthroscopic Implants, Arthroscopic Systems, and Others), Indication (Rotator Cuff Tears, Shoulder Instability or Dislocation, Frozen Shoulder, Shoulder Impingement Syndrome, and Others), and End User (Hospitals, Ambulatory Surgical Centers, Other): Global Opportunity Analysis and Industry Forecast, 2023-2032". The shoulder arthroscopy market was valued at $432.46 million in 2022 and is estimated to reach $712.12 million by 2032, exhibiting a CAGR of 5.1% from 2023 to 2032.
Request Sample of the Report on Shoulder Arthroscopy Market Forecast 2032- https://www.alliedmarketresearch.com/request-sample/175321
Prime determinants of growth
The global shoulder arthroscopy market is experiencing growth due to several key factors. People are increasingly seeking minimally invasive procedures due to the advantages of less discomfort, faster recovery, and shorter hospital stays, which increases the demand for shoulder arthroscopy procedures. In addition, the precision, efficacy, and safety of shoulder arthroscopic procedures have been improved through ongoing technological developments in arthroscopy equipment, increasing its appeal to patients and healthcare professionals. These developments, which include enhanced instrumentation, cutting-edge surgical techniques, and high-definition imaging systems, allow surgeons to carry out difficult procedures more precisely and easily. This increases the demand for enhanced instrumentation and propels the growth of the market.
Report coverage and details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $432.46 million |
Market Size in 2032 | $712.12 million |
CAGR | 5.1 % |
No. of Pages in Report | 256 |
Segments covered | Product Type, Indication, End User and Region |
Drivers | Increase in the demand for minimal invasive procedures Technological advancements in arthroscopy equipment Rising incidence of shoulder injuries |
Opportunities | Lucrative opportunities in emerging economies |
Restraints | Lack of skilled surgeons High costs associated with shoulder arthroscopy |
Economic Downturn Analysis: Impact of Recession in 2023 on the Shoulder Arthroscopy Market
- The global economic downturn had a significant impact on the orthopedic surgery industry and the arthroscopy market. Recessionary periods often lead to a series of consequences for both patients and healthcare providers.
- One of the biggest effects is the postponement or reconsideration of elective surgeries, including surgery on the shoulder. Patients facing financial uncertainty and the possibility of losing their jobs may postpone non-emergency procedures, resulting in a temporary decrease in demand.
Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/175321
The shoulder arthroscopic implants segment to maintain its leadership status throughout the forecast period
Based on product type, the shoulder arthroscopic implants segment held the highest market share in 2022, accounting for more than one-third of the global shoulder arthroscopy market revenue. The key drivers for the growth of the segment include the rise in adoption of arthroscopic procedures for shoulder injury treatment.
On the other hand, the arthroscopes segment is anticipated to be the fastest growing segment during the forecast period. This growth is mainly attributed to the advancements that take place in arthroscopes to improve the imaging quality during arthroscopy procedure.
The rotator cuff tears segment to maintain its lead position during the forecast period
Based on indication, the rotator cuff tears segment accounted for the largest share in 2022, accounting for more than one-fourth of the global shoulder arthroscopy market revenue. The segment growth was attributed to high prevalence of rotator cuff tears around the globe and adoption of arthroscopic procedure for its treatment.
On the other hand, the shoulder impingement syndrome segment is anticipated to be the fastest growing segment during the forecast period, owing to the increase in number of shoulder injuries related to sports.
The hospitals segment to maintain its lead position during the forecast period
Based on end user, the hospitals segment dominated the market in terms of revenue in 2022, accounting for more than two-fifths of the global market. This growth is attributed to the rise in number of hospitals offering arthroscopy services and people's preference towards hospitals for shoulder arthroscopy owing to well established and high-quality instruments used in hospitals.
On the other hand, the ambulatory surgical centers segment is anticipated to be the fastest growing segment during the forecast period. The growth is attributed to the rise in number of ambulatory surgical centers in the developed countries and increase in awareness among population regarding advantages of ACS.
For Purchase Inquiry- https://www.alliedmarketresearch.com/purchase-enquiry/175321
North America to maintain its dominance by 2032
North America dominated the market in 2022, accounting for nearly two-fifths share of the global market, owing to the well-established healthcare infrastructure and availability of highly advanced medical facilities in this region.
On the other hand, Asia-Pacific is anticipated to be the fastest growing segment during the forecast period, which is attributed to rise in healthcare expenditure, and developing healthcare infrastructure. In addition, healthcare providers are gaining awareness regarding new technologies for arthroscopy, which is expected to increase the adoption of these instruments in the Asia-Pacific region.
Leading Market Players: -
- Arthrex, Inc.
- Biotek
- Stryker Corporation.
- Conmed Corporation
- Osteocare Medical Pvt Ltd.
- SironixMedtech
- Star Sports Medicine Co., Ltd.
- GPC Medical Ltd.
- Johnson & Johnson
- Karl Storz GmbH and Co. Kg
The report provides a detailed analysis of these key players in the global shoulder arthroscopy market. These players have adopted different strategies such product approval and acquisition to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Comprehensive Healthcare Industry Research Studies:
Coronary Stents Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
Precision Medicine Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
Int'l: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
Logo - https://mma.prnewswire.com/media/636519/4417914/Allied_Market_Research_Logo.jpg
Share this article