The global arthroscopic devices market is anticipated to grow at a 5.1 percent compound annual growth rate between 2017 and 2022, based on a Persistence Market Research analysis, according to medGadget.
Here are seven observations:
1. By 2022, the global market will likely surpass $1.7 billion.
2. Analysts predict knee arthroscopy will continue to dominate, capturing more than one-third of the market share through 2022.
3. Hip arthroscopy follows the knee segment as the second most profitable in the market.
4. The spine arthroscopy segment will bring in more revenue than the shoulder and elbow arthroscopy segment, but will grow at a lower CAGR through 2022.
5. Hospitals will likely keep their place as the dominant end user of arthroscopic devices, over orthopedic clinics and ambulatory surgery centers.
6. The Asian-Pacific market will witness growth through 2022, especially in China and India. This growth is due to better reimbursement, increased sports injuries and growth in population purchasing power.
7. North America and Europe will continue to dominate the global market.