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New study: Joint repair devices market forecast to 2023

The global joint repair device in the sports medicine market is estimated to grow at a rapid pace, due to the rise in sports injuries and minimally invasive procedures.

The increased point-of-care testing in sports is a major trend within the joint repair devices in the sports medicine market. Point-of-care testing involves a broad range of diagnostic uses with a wide range of product types.

The Point-of-care testing in sports can control metabolic sports and specific conditioning. The Point-of-care testing devices are standardized to reduce errors during diagnosis.

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Another major trend in the joint repair devices market is adoption of management information system (MIS) and robot assisted surgery. The increased consciousness of benefits of robotic surgery among patients and surgeons has forced hospitals to implement and install effective tools.

Robotic surgical procedures help hospitals reduce patients' length of stay, thus enabling better cost management.

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Sports medicine refers to a division of general medicine that concentrates on treatment, prevention and physical fitness of sports and exercise-related injuries. This division helps in understanding and assessing the performance of athletes.

As estimated, around 14% of all medically treated injuries are related to sports, annually. A sport injury ranges from minor sprains and strains to additional serious injuries such as, concussions and broken bones.

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Increase in number of sports injuries and advances in surgical procedures are some of the factors expected to drive the joint repair devices market in sports medicine. The market has high growth potential in both developed and developing countries.

Business regulatory challenges and post-surgery complications are the major restraints in the joint repair devices in sports medicine. Changing regulatory landscape in developed countries such as, the U.S.

and European countries has added pressure on manufacturers to provide high quality products at affordable costs. Competitive factors such as, declining product prices and the consolidation of market by leading vendors makes it difficult for new vendors to enter into the joint repair devices vertical in the sports medicine market.

Some of the major competitors in the joint repair devices vartical in sports medicine are, Anika Therapeutics, Inc, Breg, Inc, Ceterix Orthopaedics, Inc, Cayenne Medical, CONMED, Intra Medical Systems Private Limited, KARL STORZ GmbH & Co. KG, MedShape, Inc, NRV Othrrotech, Ottobock, Paul Medical Systems and Wright Medical Technology, Inc.

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