Growing Prevalence of Musculoskeletal Disorders Drives South America Arthroscopy Procedures and Products Market
Musculoskeletal disorders such as osteoarthritis and rheumatoid arthritis are becoming increasingly common in South America due to sedentary lifestyles, rising obesity rates, and aging population. The statistics released by the National Library of Medicine in 2022 revealed the overall prevalence of symptomatic knee osteoarthritis, as determined by a physician, in adult patients varied from 1.55% in Peru to 7.44% in Ecuador. As a result, there is a greater need for advanced arthroscopic procedures and products that can provide effective treatment options with minimal invasiveness and faster recovery times. Additionally, the increasing adoption of arthroscopic procedures in South America can be attributed to the advancements in technology and healthcare infrastructure, which have made these procedures more accessible. According to the Rheumatology Advisor 2019 report, in Brazil, the annual knee arthroplasty increased by 56% in 2020, i.e., 1,065,000 replacements; it will increase by 110% in 2025, i.e., 1,272,000 replacements.
Furthermore, the growing awareness among patients and healthcare providers about the benefits of arthroscopy, such as reduced post-operative pain, shorter hospital stays, and quicker return to normal activities, contribute to the market growth. Thus, the rising prevalence of musculoskeletal disorders, such as osteoarthritis and rheumatoid arthritis, is driving the growth of the South America arthroscopic procedure and products market.
On the other hand, arthroscopic procedures require specialized instruments and implants, which can be expensive to manufacture and procure. Additionally, the training and expertise required to perform arthroscopic surgeries increase the overall cost of these procedures. In South American countries, where healthcare budgets are often limited, the high cost of arthroscopic implants and surgeries can pose a barrier to patient access. Many healthcare facilities may struggle to afford the necessary equipment and instruments, limiting their ability to offer arthroscopic procedures. Out-of-pocket expenses for these procedures can be substantial, making them inaccessible for individuals with limited financial resources. This can result in a disparity in access to arthroscopic procedures, with only a select few able to afford the necessary treatments.
South America Arthroscopy Procedures and Products Market: Regional Overview
Based on geography, the South America Arthroscopy Procedures and Products Market is segmented into Brazil, Argentina, Chile, Ecuador, Peru, Colombia, and Rest of South and Central America. The orthopedic industry in Brazil has observed significant progress in the last few years. The development of the healthcare sector, the growing number of orthopedic procedures, and increasing foreign direct investment are responsible for the market growth. Many hospitals provide excellent treatment options for various orthopedic problems. The growth of medical tourism, the increasing number of citizens seeking private insurance coverage, and the rising demand for orthopedic implants and other knee prostheses support the market growth. The growing number of hip fractures also fuels the market growth. As per the US Census Bureau, Brazil accounted for ~121,000 hip fractures per year, which is expected to increase to 160,000 by 2050. Osteoporosis is regarded as a significant health problem in Brazil. Therefore, public and private healthcare institutes create awareness regarding diagnosis and treatment for osteoporosis through various awareness programs and campaigns. For instance, “Osteoporosis Prevention Campaign: from the Child to the Senior” was launched by the Ministry of Health in 2011. This initiative aimed to raise the population’s awareness of the risks of osteoporosis.
South America Arthroscopy Procedures and Products Market: Competitive Landscape and Key Developments
Apart from factors driving the market, the South America Arthroscopy Procedures and Products Market report emphasizes prominent players operating in the market; these include Conmed Corp, Arthrex Inc, DePuy Synthes Inc, Karl Storz SE & Co KG, Stryker Corp, Richard Wolf GmbH, Zimmer Biomet Holdings Inc, Biomecanica, South America Implants S.A., Advin Health Care Pvt Ltd. market players focus on expanding and diversifying their businesses and acquiring novel customer bases, which allows them to explore attractive business opportunities prevailing in the South America arthroscopy procedures and products market.