- Opportunity Analysis and Industry Forecast, 2016 - 2025
Sports medicine is a branch of medicine used to prevent and treat injuries occurred during exercises, sports activities, or physical training. A wide range of products is included in sports medicine devices, utilized for recovery, prevention, and cure of injuries. Injuries including joint dislocation, fractures, soft tissue damage, strain, sprains, and musculoskeletal injuries. The increased adoption of western sports worldwide is responsible for rise in injuries. This is a major driving factor of the market for sports medicine devices. In addition, minimally invasive surgeries, increase in demand for outpatient, changes in reimbursement scenario for novel surgical technologies, and increase in awareness regarding the maintenance of an active lifestyle are some of the major factors accounted to the growth of the market.
Whereas, scarcity of trained professionals and expensive products and devices are factors that hinder the market growth. Moreover, awareness about the benefits of sports medicine devices through training, market penetration of devices, and expansion in emerging countries of Asia-Pacific present new opportunities in the market.
Advancements in technology and discovery of novel technologies are major strategies followed by major industry players in this market. The key manufacturers profiled in the report are Arthrocare Corporation, Arthrex, Inc., Biomet, Inc., Breg Inc., Cayenne Medical Inc., Zimmer Inc., Smith & Nephew Inc., Wright Medical Group Inc., Mueller Sports Medicine, Inc., and FH Orthopedics Inc., and others.
The global sports medicine market is segmented based on application area, product type, and geography. Based on product types, the market is divided into support & recovery products and orthopedics. Orthopedic products include fracture repair devices, arthroscopy devices, orthobiologics, artificial joint implants, and prosthesis. Support & recovery products include compression clothing, surgical equipment, tapes, support devices, bandages, and others. Arthroscopy devices accounted for the highest share of the market owing to rising joint-related issues. Artificial joint implants and fracture repair devices are also gaining prominence owing to the growing incidence of fractures and demand for joint replacement. Based on application areas, the market is classified into hand-wrist, ankle-foot, shoulders, knee, arm-elbow, hip-groin, and back-spine. Shoulder and knee treatment garnered the highest revenue. Furthermore, rising number of complications related to age caused by diseases also drives market growth.
Geographically, the market is divided into various regions, North America, Asia-Pacific, Europe, and LAMEA. North America accounted for the largest market share and will dominate throughout the estimated period owing to the growing acceptance of various sports, which will result in injuries and growing number of sports services. Europe holds the second highest market share owing to the increase in demand to prevent and treat injuries. Asia-Pacific region will register the growth at the fastest rate in the market owing to the increase in sport injuries, increasing fitness awareness among the youth, improving healthcare infrastructure, and favorable government regulations for sports devices.
· Extensive analysis of the factors that drive and limit the growth of the global sports medicine market are provided.
· Deep dive analysis of segments such as product type and applications provide insights that would enable companies to gain competitive edge.
· In-depth analysis of various regions is expected to predict the trends in various regions so that companies can make region specific plans.
· The competitive landscape section lists the market shares of major leaders within the global sports medicine market along with the key strategies adopted by them to achieve high monetary value.
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