US Market Report for Arthroscopic Hand Instruments 2017 – MedCore
Hand instruments are mostly non-disposable, unpowered, metallic instruments that are used as hand tools for surgery. These include, but are not limited to, graspers, knives, probes, punches, scissors, scissor punches, dissectors and shears.
Each of these tools comes in a variety of configurations and geometries to suit surgeon preference and surgical need. Because hand instruments are essentially a commodity market, the key differentiating factors are ergonomics and surgeon preference. Hand instruments are often sold as part of a complete package of devices for the treatment of a specific indication, such as anterior cruciate ligament reconstruction or rotator cuff repair. More recently, they are becoming available for hip arthroscopy and small joint repair.
- Year: 2017
- Scope: 2013-2023
- Region: United States
- Published Date: 6/1/2017
- Pages: 367
- Type: MedCore
General Report Contents Market Analyses include: Unit Sales, ASPs, Market Value & Growth Trends Market Drivers & Limiters for each chapter segment Competitive Analysis for each chapter segment Section on recent mergers & acquisitionsThe market for hand instruments includes biters, cutters, graspers, knives, probes, punches, scissors, scissor punches, dissectors, shears and other devices that are used as hand tools for surgery. In 2016, the total hand instrument market was valued at over $53 million, a modest increase over the previous year. Growth was driven by a modest uptick in units sold and mild ASP appreciation. Unit sales were fueled by an increase in the annual volume of arthroscopic procedures performed in the U.S., the growing number of ambulator surgery centers (ASCs) and the increasing physician demand for specialized hand instruments. Unit growth was limited by the long lifespan of hand instruments and commoditization. Most hand instruments are used for knee and shoulder arthroscopy. An average shoulder procedure uses 2 to 3 instruments, while only 1 to 2 instruments are used in the average knee procedure. Graspers and cutters are commonly used for shoulder procedures. Biters are commonly used in knee procedures.A major limiter of this market is the non-disposable nature of hand instruments. Most of these products are metallic and long lasting, meaning that there is not a frequent demand for hand instruments. Additionally, many experienced surgeons are reluctant to try new designs and stay with the older generations of hand instruments out of familiarity.
Our reports follow an in-depth 9-step methodology which focuses on the following research systems:
- Original primary research that consists of the most up-to-date market data
- Strong foundation of quantitative and qualitative research
- Focused on the needs and strategic challenges of the industry participants
Step 1: Project Initiation & Team Selection During this preliminary investigation, all staff members involved in the industry discusses the topic in detail.
Step 2: Prepare Data Systems and Perform Secondary Research The first task of the research team is to prepare for the data collection process: Filing systems and relational databases are developed as needed.
Step 3: Preparation for Interviews & Questionnaire Design The core of all iData research reports is primary market research. Interviews with industry insiders represent the single most reliable way to obtain accurate, current data about market conditions, trends, threats and opportunities.
Step 4: Performing Primary Research At this stage, interviews are performed using contacts and information acquired in the secondary research phase.
Step 5: Research Analysis: Establishing Baseline Estimates Following the completion of the primary research phase, the collected information must be synthesized into an accurate view of the market status. The most important question is the current state of the market.
Step 6: Market Forecast and Analysis iData Research uses a proprietary method to combine statistical data and opinions of industry experts to forecast future market values.
Step 7: Identify Strategic Opportunities iData analysts identify in broad terms why some companies are gaining or losing share within a given market segment.
Step 8: Final Review and Market Release An integral part of the iData research methodology is a built-in philosophy of quality control and continuing improvement is integral to the iData philosophy.
Step 9: Customer Feedback and Market Monitoring iData philosophy of continuous improvement requires that reports and consulting projects be monitored after release for customer feedback and market accuracy.