Global Arthroscopic Shaver Market Is Projected To Top US$ 2.9 Bn By 2031, Unveils Fact.MR
According to a recent report by Fact.MR, a market research and competitive intelligence provider, demand for arthroscopic shavers is projected to close in on a valuation of US$ 1.8 Mn in 2021, and rise at a CAGR of around 5.6% through the end of 2031.
Joints are a complex structure that provide stability to body structure and play a vital role in our everyday body movements. Some disorders disturb the balance stress distribution within joints, resulting in functional impairment. Arthroscopic shavers are used to bring back the distribution of tension between joints.
Micro-traumas are difficult to treat effectively with typical orthopedic surgery, and the recovery time is lengthy. Arthroscopic surgery is a minimally invasive procedure that involves just a small incision, resulting in less stress and scarring, and has a faster recovery period and fewer complications than traditional surgery. As a result, healthcare organizations across the globe are focusing on research & development activities to develop advanced medical technology for minimally invasive surgical treatments, and this, in turn, is expected to boost demand for arthroscopic shavers over the coming years.
Heighted concerns regarding spread of infection have resulted in surge in demand for disposable arthroscopic shavers. Manufacturers are providing disposable arthroscopic shavers in most common sizes for the shoulders and knees in packs of multiple blades. These affordable shavers can help in avoiding contamination during surgery. As such, manufacturers are widening their portfolios with such affordable disposable arthroscopic shavers.
Key Takeaways from Market Study
- The North America market is estimated to be valued at over US$ 1 Bn by 2031.
- Europe is estimated to be valued at US$ 377 Mn by 2031.
- Strong production footprint of key market participants in the U.S. has made it hold the largest market share of 73.4% in North America.
- The arthroscopic shavers market is segmented based on application, where shoulder repair holds high share of 20.2% and is set to witness a CAGR of 5.3% over the forecast period.
“Key market players are turning their focus towards manufacturing technologically advanced solutions. Through 2031, major companies are anticipated to use various marketing methods such as acquisitions, product innovation, and new product developments to increase their presence and build a big client base,” says a lead analyst at Fact.MR.
Who is Winning?
Consumers emphasize on service and quality. As a result, companies are investing in the research & development of innovative, high-quality products. Furthermore, they are concentrating on using cutting-edge innovation that enables them to maintain high-quality standards.
Some of the leading companies offering arthroscopic shavers are Karl Storz, Arthrex, CONMED Corporation, Stryker Corporation, Smith Nephew, DePuy Synthes, Mitek Sports Medicine, Zimmer Biomet, Medtronic plc, Richard Wolf GmbH, Tulpar Medical Solutions, GPC Medical (India), Sklar (US), MEDICON (Germany), B. Braun (Germany), and Olympus (Japan).
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the demand for arthroscopic shavers, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the demand for arthroscopic shavers based product type (control systems, shaver hand pieces, accessories, and others), end user (hospitals, ambulatory surgical centres, and orthopaedic clinics), application (knee repair, shoulder repair, hip repair, and others), and region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).