Global arthroscopy devices market dominated by Arthrex Inc., CONMED Corp., Johnson & Johnson and Smith & Nephew plc in 2013
Global Arthroscopy Devices Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:58:03
The Global Arthroscopy Devices market 2014-2018 is forecast to grow at a CAGR of 6.22 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing aging population. The Global Arthroscopy Devices market has also been witnessing the increasing small-joint and hip arthroscopy procedure volumes. However, the lack of reimbursement benefits could pose a challenge to the growth of this market.
Key vendors dominating this space include Arthrex Inc., CONMED Corp., Johnson & Johnson and Smith & Nephew plc.
Other vendors mentioned in the report are ArthroCare Corp., Biomet Inc., KARL STORZ GmbH & Co. KG, Olympus Corp., StryKer Corp. and Richard Wolf Medical Instruments Corp.
The following companies represent the key players in Global Arthroscopy Devices Market: Arthrex Inc., CONMED Corp., Johnson & Johnson and Smith & Nephew plc.
There has been an increase in the small-joint and hip arthroscopy procedure volumes over the past decade. There has been an increasing number of trained physicians that perform hip arthroscopy for the diagnosis and treatment of hip pain as well as the removal of loose bodies in the hip joint. The reduction in the dimensions of arthroscopic devices and the improvement in understanding the internal anatomy of small joints have led to arthroscopically evaluating and treating various disorders. Certain companies such as ArthroCare, ConMed, Smith & Nephew, and Stryker have developed specialized devices for hip arthroscopy that include extended-length arthroscopes, radio frequency probes, and power shaver blades.
One of the main drivers in this market is the increasing aging population. The increasing prevalence of musculoskeletal disorders and joint injuries in the rising aged population has increased the demand for arthroscopy devices for the early diagnosis of joint disorders.
Further, one of the major challenges in the market is the lack of reimbursement benefits by insurance companies for arthroscopic procedures. This has resulted in limiting the number of procedures performed as not many people can afford them.
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