Newark, New Castle, USA, May 10, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for in 2022 to be worth US$ 1.88 Billion, and it is expected to increase at a revenue CAGR of 5.3% to reach US$ 3.0 Billion by 2031.
The global market for arthroscopic shavers was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Medical tools called arthroscopic shavers are used in arthroscopic treatments to remove diseased bone or tissue from joints. The use of arthroscopic shavers is common in orthopedic treatments involving the knee, shoulder, and hip.
Key Takeaways:
- The rising prevalence of joint disorders and related surgeries is driving the market revenue share.
- The inversing geriatric population is driving the market demand.
- The market is rising with the recent technological developments in healthcare.
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Arthroscopic Shavers Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 1.88 Billion |
| Market Size Value in 2031 | US$ 3.0 Billion |
| Growth Rate | CAGR of 5.3% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, Application, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Global Arthroscopic Shavers Market:
- In April 2021, Smith & Nephew plc announced new enabling technologies for its INTELLIOTM Connected Tower Solution together with the introduction of the DOUBLEFLOTM Inflow/Outflow Pump and 4KOTM (Optimised) Arthroscopes and Laparoscopes.
Competitive Landscape
A list of the prominent players operating in the global market for arthroscopic shavers includes:
- Zimmer Biomet Group
- Johnson & Johnson
- Arthrex Inc.
- Stryker Corporation
- Smith & Nephew Plc
Market Drivers and Restraints:
The global arthroscopic shavers market revenue is driven by the rising increasing incidence of joint disorders and injuries, the need for effective and minimally invasive surgical procedures, and the growing adoption of arthroscopic shaver technology by healthcare professionals. Furthermore, the rising geriatric population will likely contribute potential growth to the global market revenue.
However, due to the high cost of arthroscopic shaver devices, the lack of skilled healthcare professionals to perform arthroscopic surgeries, and the potential risk of complications associated with arthroscopic procedures, the market revenue growth is expected to be restrained.
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Market Segmentation:
Segmentation By Type
Based on type, the global arthroscopic shavers market is segmented into plastic, polycarbonate, stainless steel, and others. Due to the powerful, long-lasting, and sharp enough to cut through bone or tissue without endangering the tissues around it, the stainless-steel segment accounts for the largest market revenue share.
Segmentation By Application
Based on the application, the global arthroscopic shavers market is segmented into hips, spine, and knee arthroscopy, among others. The knee arthroscopy segment accounts for the largest revenue share. This is because knee-related conditions, including meniscus tears and cartilage tears, are becoming more common.
Segmentation By End User
Based on end-user, the global arthroscopic shavers market is segmented into hospitals, ambulatory surgical centers, and orthopedic clinics. Due to the numerous orthopedic surgeries carried out by skilled surgeons in sterile hospital settings, hospitals with the largest revenue share dominate the global market.
Based on the region, the global arthroscopic shavers market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the rise in arthroscopy procedures being brought on by the region's increased frequency of chronic illnesses and orthopedic disorders, notably among its aging population, North America, with the largest revenue share, dominates the global market.
Report Coverage
Growth Plus Reports studied the global market for arthroscopic shavers in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL ARTHROSCOPIC SHAVERS MARKET - ANALYSIS & FORECAST, BY TYPE
- Plastic
- Polycarbonate
- Stainless Steel
- Others
- GLOBAL ARTHROSCOPIC SHAVERS MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Hips Arthroscopy
- Spine Arthroscopy
- Knee Arthroscopy
- Others
- GLOBAL ARTHROSCOPIC SHAVERS MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
ARTHROSCOPIC SHAVERS MARKET TOC
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- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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