Keyhole Orthopedic Surgery Market Analysis by Indication (Torn Meniscus, Torn or Damaged Cruciate Ligament, Inflamed Synovial Tissue, Torn Pieces of Articular Cartilage, Misalignment of Patella, and Baker’s Cyst); by Application (Hip, Shoulder, Knee, Foot, Elbow, Ankle, Hand & Wrist, and Sports Injuries); and End-User (Hospitals, Orthopedics Clinics, Ambulatory Surgical Centers, and Diagnostic Centers) - Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

  • Report ID: 4166
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Keyhole Orthopedic Surgery Market size is poised to surpass USD 8 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035.In the year 2022, the industry size of  keyhole orthopedic surgery was USD 5 Billion. The growth of the market is primarily attributed to the higher demand for joint treatment across the globe as a result of illnesses, diseases, injuries, traumas, accidents, and fatalities. As of 2020, approximately 1.5 million knee replacements were observed across the globe.

Furthermore, the global keyhole orthopedic surgery market is also projected to grow on the back of an escalating number of people receiving knee surgeries. Keyhole orthopedic surgery, also known as arthroscopic, is a surgical method that allows a surgeon to reach inside the pelvis, abdomen, and joints without making any large incisions on the upper layer of skin. A surgeon requires a tube-guided camera or arthroscope connected to a monitor via fiber-optic to perform keyhole orthopedic surgery. The rising inclination of keyhole orthopedic surgery is interlinked with the significant risk rate of open surgery. For instance, the failure rate of open surgery is projected to be approximately 15% to 35%. In addition, the rapid surge of problems in the musculoskeletal system such as osteoarthritis, arthritis, back pain, fibromyalgia, plate injuries, and osteonecrosis is also expected to increase the demand for keyhole orthopedic surgery during the next few years. Also, the rising number of incidents and accidents occurring every day resulting in fractures in bones, tears of ligaments, tearing of tissues, and other issues are considered to be an indicator of positive growth for the global keyhole orthopedic surgery during the forecast period.


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Keyhole Orthopedic Surgery Sector: Growth Drivers and Challenges

Growth Drivers

  • Spiking Prevalence of Orthopedic Surgery Procedure to Boost the Market Growth – In the recent period, the prevalence of orthopedic conditions including arthritis, bursitis, osteoporosis, tumors, and pain has considerably gone up owing to the indulgence in unhealthy lifestyles, or encounter with accidents. Thus, the number of orthopedic surgeries is increasing which is generating a demand for keyhole orthopedic surgery in the next few years. A recently published report of 2021 stated that in the United States, almost 7 million orthopedic surgeries take place every year.

  • Increment in the Orthopedic Device Sector – As the number of orthopedic diseases is increasing, the count of orthopedic surgeries is also rising which is attributed to bringing a high demand for orthopedic devices such as keyhole orthopedic devices. Hence, with the expansion of the orthopedic device sector, the expansion of keyhole orthopedic surgery is anticipated to expand during the forecast period. The total value of the global orthopedic device sector was approximately USD 40 billion in 2022.

  • Increasing Knee Replacement Across the Globe - As of 2020, around 1.5 million knee replacement was performed worldwide.

  • Growing Geriatric Population Worldwide with Severe Joint Conditions – The bones of elderly people are weak and thus are more prone to get fractures even with small accidents and diseases such as arthritis. Thus, with the expanding geriatric population, the demand for keyhole orthopedic surgery is also expected to rise and create a positive outlook for market growth. As per the data provided by the World Health Organization (WHO), the share of the population of age 60 or above in the world increased from 1 billion to 1.4 billion in 2022 and is projected to double by 2050 reaching around 2.1 billion.

  • Spiking per Capita Healthcare Expenditure – As a result of the growing economies, the spending capacity of people is also escalating. Therefore, people are propelled to opt for keyhole orthopedic surgery for effective surgery and treatment. Based on the report published by the World Bank, the healthcare expenditure per capita of the world rose from USD 987.27 in 2015 to USD 1,115.01 in 2019.

Challenges

  • Expensive Keyhole Orthopedic Surgical Procedures – Although the demand for numerous keyhole orthopedic surgeries is increasing day by day, owing to the utilization of technologically developed equipment and medical products, the cost of the procedure of keyhole orthopedic surgical procedure becomes expensive. As a result, the population with low to middle income is pushed farther away from opting for keyhole orthopedic surgery which ultimately lowers the adoption rate and hampers market growth.
  • Higher Requirements for Costly Surgical Accessories and Equipment
  • Lack of Skilled Medical Professionals

Keyhole Orthopedic Surgery Market: Key Insights

Base Year

   2022

Forecast Year

   2023-2035

CAGR

   ~7%

Base Year Market Size (2022)

   ~ USD 5 Billion

Forecast Year Market Size (2035)

   ~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Keyhole Orthopedic Surgery Segmentation

 Indication (Torn Meniscus, Torn or Damaged Cruciate Ligament, Inflamed Synovial Tissue, Torn Pieces of Articular Cartilage)

The global keyhole orthopedic surgery market is segmented and analyzed for demand and supply by indication into torn meniscus, torn or damaged cruciate ligament, inflamed synovial tissue, torn pieces of articular cartilage, misalignment of patella, and baker’s cyst. Out of which, the torn meniscus segment is anticipated to hold a notable share in the global keyhole orthopedic surgery market during the forecast period on account of its higher success rate. Torn meniscus surgery is very common that is performed to repair or remove pieces of cartilage in the knees. For instance, the success rate of torn meniscus surgery is projected to be about 85% to 95% globally. Also, the rapid technological advancement in the region has developed various surgical devices such as surgical drills and others have eased the process of keyhole orthopedic surgery.

End-User (Hospitals, Orthopedics Clinics, Ambulatory Surgical Centers, and Diagnostic Centers)

The global keyhole orthopedic surgery market is also segmented and analyzed for demand and supply by end-user into hospitals, orthopedics clinics, ambulatory surgical centers, and diagnostic centers. Out of these four segments, the hospital segment is projected to hold the most significant share of the global market with a notable CAGR during the forecast period. Patients who are diagnosed with cardiovascular disorders and chronic diseases often visit hospitals for treatment, and it’s easier and more convenient for them to perform keyhole orthopedic surgeries for treatment processes. Also, the increased inflow and outflow of patients in the hospitals is another factor for the increased utilization rate of keyhole orthopedic surgeries through hospital settings.

Our in-depth analysis of the global market includes the following segments:

             By Indication

  • Torn Meniscus
  • Torn or Damaged Cruciate Ligament
  • Inflamed Synovial Tissue
  • Torn Pieces of Articular Cartilage
  • Misalignment of Patella
  • Baker’s Cyst

          By Application

  • Hip
  • Shoulder
  • Knee
  • Foot
  • Elbow
  • Ankle
  • Hand & Wrist
  • Sport Injuries

             By End User

  • Hospitals
  • Orthopedics Clinics
  • Ambulatory Surgical Centers
  • Diagnostic Centers

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Keyhole Orthopedic Surgery Industry - Regional Synopsis

North American Market Forecast   

The North America keyhole orthopedic surgery market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The market in the North America region is estimated to witness remarkable growth over the forecast period on the back of a higher prevalence of minimally invasive medical procedures. Furthermore, the presence of major key players and increasing advancement in the associated technology are also expected to drive the growth of the market in the region over the forecast period. An up-surged manufacturing process of novel tools and other assistive equipment can also be observed in North America. Additionally, the rising number of knee replacement surgery in North America is also estimated to foster the market growth in the region over the forecast period. For instance, knee replacement surgery in the United States is estimated to be performed approximately 0.8 million times every year. All these factors are anticipated to drive market growth in the region over the forecast period.

APAC Market Statistics

On the other hand, the Asia Pacific keyhole orthopedic surgery market is also projected to grow at a significant pace with a notable CAGR rate. The growth of the market in the region can be attributed to similar factors, such as rising cases of joint diseases and a growing geriatric population with various types of bone diseases and disorders. Also, the rapid growth of the healthcare industry and rising investment in enhancing the healthcare system are other factors that are anticipated to create a positive outlook for generating significant revenue in the forecast period.

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Companies Dominating the Keyhole Orthopedic Surgery Landscape

top-features-companies
    • Wright Medical Group N.V. 
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Stryker Corporation
    • NuVasive, Inc.
    • Surgical Holdings
    • Globus Medical, Inc.
    • Geister Medizintechnik GmbH
    • Integra LifeSciences Corporation
    • STI Laser Industries Ltd
    • Medtronic Limited
    • Zimmer Biomet Holdings, Inc.

In the News

  • Globus Medical, Inc. to perform the first surgery with the assistance of Exclusive3D which is a 3-in-1 intraoperative imaging platform.

  • NuVasive, Inc. makes the announcement about the publication of Precice System which is reviewed by 100 peers. The Precice System elaborates on the NuVasive Specialized Orthopedics (NSO), utilized for limb lengthening and reconstruction.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4166
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increment in the orthopedic device sector and increasing knee replacement across the globe are estimated to majorly boost market growth.

The market is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.

Expensive keyhole orthopedic surgical procedures and higher requirements for costly surgical accessories and equipment are estimated to challenge the market growth.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Wright Medical Group N.V., Stryker Corporation, NuVasive, Inc., Surgical Holdings, Globus Medical, Inc., Geister Medizintechnik GmbH, Integra LifeSciences Corporation, STI Laser Industries Ltd, Medtronic Limited, Zimmer Biomet Holdings, Inc., and other key players.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

The market is segmented by indication, application, end-user, and by region.

The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Keyhole Orthopedic Surgery Market Report Scope
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