The global arthroscopic devices market is estimated to register a CAGR of 5.1% over the forecast period 2017 to 2022, according to a new report by Persistence Market Research (PMR). The market for arthroscopic devices has been witnessing a paradigm shift from conventional open surgeries to the minimally invasive ones, on the back of complications pertaining to the former. Many governments around the world are taking initiatives associated with healthcare tourism via deals & packages, which include easier visa approvals, and post-operation follow-ups. These factors will positively influence the market for arthroscopic devices globally. Revenues from the market are expected to exceed US$ 1,700 Mn by 2022-end.
Patients Prefer Hospitals over Orthopedic Clinics & ASCs for Arthroscopic Procedures
Hospitals are expected to remain the largest end-users of arthroscopic devices in the global market. Most of the patients prefer hospitals for arthroscopic procedure over other healthcare settings such as orthopedic clinics, and ASCs. This is mainly because hospitals procure medical products, consumables, and accessories in bulk quantity, engaging closely with manufacturers & suppliers, government agencies, and reimbursement authorities.
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Arthroscopic Devices Market in APEJ to Gain Higher Traction During 2017 to 2022
The market in Asia-Pacific excluding Japan (APEJ) is poised to gain a significant traction over the forecast period, particularly in the region’s developing economies such as China and India. Existence of better insurance schemes, favorable reimbursements, low taxation, increased sports activity and related injuries, and rise in purchasing power of population in the region are key drivers for growth of the market in APEJ.
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