Global Sports Medicine Market is expected to reach USD 32,199.3 million by 2024 from USD 16,520.0 million in 2016, at a CAGR of 8.7% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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
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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. On the other hand, high cost of implants and other devices, lack of skilled labor as well as tax excision on medical devices in the U.S.
may hinder the growth of the market.
Global Sports Medicine Market – Key Points:
Arthrex, Inc. is going to dominate the global sports medicines market following with Smith & Nephew and DePuySynthes, along with others such as Stryker Corporation, CONMED Corporation, Johnson & Johnson, Bird & Cronin, Inc., Zimmer Biomet, Anika Therapeutics, Ossur, Breg Inc., Mueller Sports Medicine, Inc., DJO global, Medtronic.
- Knee market segment is expected to account for the largest share.
- Globally surgical devices are driving the market with the highest market share. However, orthobiologics are growing with the highest CAGR.
Global Sports Medicine Market Segmentation:
The global sports medicine market is segmented on the basis of product type, body area, end user, and geography. The global sports medicine market is segmented into 4 types, such as orthobiologics, surgical devices, arthroscopy devices, orthopaedic braces and supports.
In 2017, surgical devices market segment is expected to account for the largest share of 43.3% of the global sports medicine market.
Global sports medicine market is segmented into knee, hip, shoulder & elbow, foot & ankle and wrist & hand on the basis of body area.
On the basis of procedures, global sports medicine market is segmented into knee arthroscopic procedures, hip arthroscopic procedures, shoulder and elbow arthroscopic procedures, foot and ankle arthroscopic procedures, and hand and wrist arthroscopic procedures. Knee arthroscopic procedure market segment is expected to account for the largest share of 45% in global sports medicine market.
On the basis of end users, the market is classified into orthopaedic clinics, hospitals, ambulatory surgical centers and others. In 2017, the hospitals segment is expected to dominate the global sports medicine market with 57.1% market share.
This segment is expected to grow at the highest CAGR of 9.9% in the forecast period 2017 to 2024.
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Global Sports Medicine Market – Key Drivers:
Some of the major factors driving the market for global sports medicine market are increasing incidences of sports injuries, increasing adoption of arthroscopic surgeries, continuous influx of new products and treatment modalities, growing research activities in sports medicine, developments in the field of regenerative medicine, and increased adoption and acceptance of arthroscopy & minimally invasive procedures rising prevalence of chronic diseases. These factors increase the demand for devices such as bone graft substitutes, surgical devices, and arthroscopy devices.
Minimally invasive procedures such as arthroscopy are in high demand since they significantly reduce the recovery time and result in reduced bleeding and scarring.
Growing awareness of various lifestyle diseases has resulted in a significant increase in participation in various sports and physical activities across the globe.
The use of regenerative medicine in sports injuries has led to very promising treatment options in sports medicine.
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
- ABOUT DATA BRIDGE MARKET RESEARCH
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