Joint issues don’t discriminate by age: they can just as easily be a problem for a young athlete as they can for an older adult. And as the elderly population booms around the world, so will a greater need for diagnostic and surgical interventions focusing on these areas.
Part of the interest of the medtech industry over the last several years has been designing easy methods of surgical alternatives, both to minimize the possibility of post-surgical setbacks and to help reduce any additional stress on the joints. Enter modern arthroscopy, a preferred alternative to open surgery for common joint problem areas, such as knees, hips, shoulders, and TMJ. In 2018, knee arthroscopy was the most significant contributor to the 6.8 million arthroscopy procedures performed.
Sports medicine implants are often combined with arthroscopy procedures as they’re designed to stabilize joints, allowing for normal activity levels.
Global Market Size
In 2018, the global market for both arthroscopy and sports medicine products hit $7.3 billion. Of this amount, arthroscopy products on their own accounted for nearly 52% of all sales.
Over the next few years, it’s anticipated that the global market for arthroscopy and sports medicine implant products will grow at a rate of 4.2%.
North America has the largest market for arthroscopy products, but as other countries experience a larger elderly population, expect places like China and Europe to grab even more of a market share.
Top Market Players
The major companies currently sitting atop the arthroscopy and sports medicine implant market include DePuy Synthes/Johnson & Johnson, Arthrex, Stryker, and Smith & Nephew.