The global arthroscopy devices market is expected to grow from USD 4 billion in 2018 to USD 6.4 billion in 2025, according to a recent report published by Value Market Research.
Although this indicates a significant market slowdown compared to the 2019 growth estimates (USD 5.1 billion) due to the impact of the COVID-19 pandemic in the first half of 2020, as reported by Technavio, the market is expected to actively grow and register a CAGR of about 6% throughout the next five years.
Besides the growing prevalence of osteoarthritis and rising incidence of sport injuries, some of the major factors responsible for the arthroscopy market’s progression are the increasing preference for minimally invasive techniques associated with the technological advancements in the innovative arthroscopy medical device market.
Concerning innovation, while current arthroscopy devices simply provide visual information on the status of cartilage, along with a subjective tactile perception by the orthopaedic surgeon, the novel MIRACLE device will push forward the field of arthroscopy.
MIR-based MIRACLE device will not only provide an accurate information on the molecular biochemical composition of articular cartilage, but will also lead to improve real-time assessment of cartilage condition with a detailed spatial resolution, as well as the level of cartilage degeneration or regeneration.
