The Global Sports Medicine Market is expected to reach USD 34.7 billion by 2024 from USD 16.6 billion in 2016, at a CAGR of 8.9% in the forecast period 2017 to 2024.
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The new report “Global Sports Medicine Market”, By Product Type (Orthobiologics (Bone Graft Substitutes, Viscosupplementation, BMC, PRP), Surgical Devices (Plates and Screws), Arthroscopy Devices, Orthopedic Braces and Supports), By Body Area (Knee, Hip, Shoulder & Elbow, Foot & Ankle, Wrist & Hand), By End Users (Orthopedic Clinics, Hospitals, Ambulatory Surgical Centers, Others), By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Trends and Forecast to 2024
The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Sports Medicine Market – Drivers:
The major factors driving the growth of this market are the increasing incidences of sports injuries, increasing adoption of arthroscopic surgeries, continuous influx of new products and treatment modalities, growing research activities in sports medicines, increased adoption and acceptance of arthroscopy and minimally invasive procedures. These factors increase the demand for devices such as bone graft substitutes, surgical devices, and arthroscopy devices.
Increasing Incidences of Sports Injuries
Increasing obesity worldwide has fuelled the need to adapt active lifestyles.
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The need to adapt active lifestyle has triggered the popularity of sports among the masses. A few most common sports related injuries are knee injuries (anterior cruciate ligament (ACL) tear, quadriceps tendonitis, and meniscal injuries), ankle & foot injuries (Plantar fasciitis, metatarsal fracture), shoulder injuries (rotator cuff injury, dislocations, inflammation of biceps).
Increasing Adoption of Arthroscopic Surgeries
An arthroscopic procedure is a minimally invasive procedure to treat, diagnose or rectify a bone joint or fracture. Since these procedures are less painful and tedious they are widely accepted by physicians and patients.
In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in a select few countries. These factors have led to increasing preference among patients and physicians for minimally invasive surgeries.
Continuous Influx of New Products and Treatment Modalities
Companies in the sports medicine market are increasingly focusing on new product launches and technological advancements. New product launches and innovations mainly deal with the development of more economical, technologically advanced, and easy-to-use sports medicine products.
Technological advancements have led to the introduction of new treatment modalities such as percutaneous tenotomy, platelet rich plasma (PRP) therapy, stem cell therapy, and robotic technology, among others. This not only generates interest but promises a healthy future for the growth of the sports medicine market.
Growing Research Activities in Sports Medicine Market Report
Growing research activities in the field of sports medicine is one of the major driving factors for the sports medicine market. Continuous research studies lead to advancements in the preventive and curative aspects of sports medicine.
This, in turn, plays a significant role in supporting the rapid development of new treatment options.
Developments in the Field of Regenerative Medicine
Growing regenerative medicine plays a significant role in the management of sports injuries. This area of medicine includes the use of orthobiologics, which are substances used to improve the healing of broken bones and injured muscles, tendons, and ligaments.
Orthobiologics are made from substances that are naturally found in the body and, when used in higher concentrations, they may help speed up the healing process. Orthobiologics products such as allograft, polymer-based bone substitutes, and viscosupplements are extensively used in the treatment of sports injuries or conditions resulting from trauma.
Increased Adoption and Acceptance Of Arthroscopy & Minimally Invasive Procedures
Arthroscopy is a minimally invasive procedure that is used for the diagnosis and treatment of joint injuries and diseases through small incisions in the skin. Being less painful and tedious, these procedures are widely accepted by physicians and patients alike.
The global sports medicine market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. Arthrex, Inc dominated the sports medicine market accounting for a highest market share in 2016, followed by Smith & Nephew, DePuy Synthes, Stryker Corporation, CONMED Corporation.
Other players in this market include Johnson & Johnson, Bird & Cronin, Inc., Zimmer, Inc., Biomet Inc., Anika Therapeutics, Ossur, Breg Inc., Mueller Sports Medicine, Inc., DJO global, Medtronic among others holds 25% of the global sports medicine market in 2016.
Founded in 1981 as Arthrex, Inc and head quartered in Florida, U.S. is engaged in the development and marketing of orthopaedics products.
The company operates through only one business segment namely orthopaedics.
Incorporated in June 1856 and headquartered in London, United Kingdom Pfizer Inc., is engaged in the development and marketing of medical products and services. The company operates through four business segments, such as sports medicine, advanced wound care management, orthopaedic reconstruction, and trauma and extremities.
The sports medicine segment offers a wide range of technologies or implants for repair of soft tissue injuries, fluid management equipment for surgical access, digital cameras, digital image capture, scopes, light sources and monitors to assist with visualization, radiofrequency wands, electromechanical and mechanical blades and, hand instruments for resecting damaged tissue.
- In January 2016, Smith & Nephew acquired first line cartilage repair product known as BST-CarGelused along with microfracture and other bone marrow stimulation techniques for the initial treatment of most sizes of focal cartilage tears.
- In June 2015, Smith & Nephew acquired Zimmer’s Unicondylar Knee system (ZUK) in U.S. market. ZUK is a clinically proven uni knee replacement introduced globally in 2004. Smith & Nephew has purchased all existing inventory and certain intellectual property for the U.S. market.
Read more about the Global Sports Medicine Market at databridgemarketresearch.com/repor…-medicine-market/
Founded in 1941 and headquartered in Michigan, U.S., Stryker Corporation specializes in reconstructive, medical and surgical, and neurotechnology and spine products. The company has three business segments—orthopedic implants, MedSurg, and neurotechnology and spine.
- In November 2016, Stryker announced a multi-year collaboration with Indo UK Institute of Health’s (IUIH) Medicity Program to serve as a preferred partner in the orthopedic areas of hip, knee, and trauma products and services. Stryker and IUIH’s new relationship will provide greater access to affordable primary joint replacements and other healthcare services to patients in India.
- In April 2016, Stryker Corporation acquired Physio-Control International, Inc. Physio-Control develops, manufactures and markets monitors/defibrillators, automated external defibrillators (AEDs) and CPR-assist devices along with data management and support services.
Table of Content:
- RESEARCH METHODOLOGY
- MARKET LANDSCAPE SUMMARY
- PREMIUM INSIGHTS
- EXECUTIVE SUMMARY
- SPORTS MEDICINE MARKET, BY PRODUCT TYPE
- SPORTS MEDICINE MARKET, BY BODY AREA
- SPORTS MEDICINE MARKET, BY TYPE
- SPORTS MEDICINE MARKET, BY END USERS
- SPORTS MEDICINE MARKET, BY GEOGRAPHY
- SPORTS MEDICINE MARKET: COMPETITIVE LANDSCAPE
- SPORTS MEDICINE MARKET, COMPANY PROFILES
12.1. ARTHREX, INC
12.2. SMITH AND NEPHEW
12.5. CONMED CORPORATION
12.6. ZIMMER, INC
12.7. DJO GLOBAL
12.8. OSSUR CORPORATE
12.9. OTTOBOCK HEALTHCARE GMBH
12.10. BREG, INC
12.11. TORNIER, INC
12.12. MUELLER SPORTS MEDICINE INC
12.13. CRAMER PRODUCTS, INC
12.14. RTI SURGICAL.
12.17. BIRD AND CRONIN, INC
12.18. CAYENNE MEDICAL, INC
12.19. DEPUY MITEK, INC
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