Market Trends of South Korea Endoscopy Devices Industry
This section covers the major market trends shaping the South Korea Endoscopy Devices Market according to our research experts:
Orthopedic Surgery Segment is Anticipated to Grow Over the Forecast Period
Orthopedic surgeons frequently employ endoscopes in the knee, shoulder, and hip during surgeries. Due to recent developments, surgeons can now also employ endoscopes in the spine as well. Owing to the advantages of endoscopic devices during orthopedic surgeries, the adoption of endoscopes and endoscopic devices is increasing, thereby driving the segment growth.
According to the article 'Trends of Total Knee Arthroplasty According to Age Structural Changes in Korea from 2011 to 2018' published in December 2021, the topography of total knee arthroplasty (TKA) implementation in Korea is evolving because of the growth of hospitals that specialize in joint surgery. TKA is becoming more widespread and accessible in Korea, and compared to tertiary referral medical centers, it has expanded more rapidly in other relatively small medical institutions. TKA is becoming more common in such facilities due to the rise in orthopedic hospitals and clinics. In addition, as endoscopic devices are extensively used in the treatment of orthopedic diseases due to their advantage in surgical exposure and post-operative rehabilitation, the increasing TKA procedures in South Korea are anticipated to create opportunities for endoscopic devices in the segment. This is further expected to fuel the segment's growth.
Additionally, the data updated by OrthoIndy, a provider of a range of orthopedic services for bone, joint, spine, and muscle in March 2022, shows that endoscopic spine surgery is a minimally invasive surgical procedure used to treat disc herniations, spinal arthritis, and stenosis-related persistent pain, numbness, and sciatica. Due to its many advantages over conventional spine surgery, endoscopic spine surgery can be a great substitute for traditional methods. Thus, with a larger population aging in South Korea and suffering from chronic orthopedic illnesses, the demand for endoscopic procedures is anticipated to increase. This is further expected to garner segment growth.
Therefore, owing to the aforementioned factors, the segment is anticipated to witness growth over the forecast period.
