A new market study, titled “Discover Global Sports Medicine Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Sports Medicine Market Overview
The global sports medicine market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Sports medicine is a branch of medicine that deals with the treatment and prevention of injuries related to sports and physical fitness. It is only since the late 20th century that sports medicine has emerged as a distinct field of health care. Sport medicine products help individuals recover from injuries and prevent future injuries. Furthermore, sports medicine is displaying considerable growth among all the other healthcare fields, and professionals in the field, they can treat all kinds of people, and not just athletes.
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Global Sports Medicine Market – Market Dynamics
The global market for sports medicine market is primarily driven by the increasing incidence of sports injuries, new developments in the field of regenerative medicine along with a rise in awareness among individuals concerning physical fitness. Additionally, growing government initiatives with regards to sports medicine in efforts to increase the participation of athletes worldwide and rise in minimally invasive surgery techniques, with a specific focus on the surgery of joints, are other growth factors. The continuous influx of new products and treatment modalities, expansion along with market penetration opportunities in emerging economies and rising opportunities around 3D printed implants are expected to promote the growth of the market further.
However, the high cost of orthopedic implants, ambiguous guidelines regarding sports medicine and lack of trained professionals in the field may hamper the growth of the global sports medicine market.
Global Sports Medicine Market – Segment Analysis
By product type, the sports medicine market is segmented into body reconstruction and repair, body support and recovery, body monitoring and evaluation devices, and accessories. Body reconstruction and repair devices contribute the most substantial revenue to the segment owing to the ongoing R&D innovation and product up-grading strategies by significant players. Furthermore, innovation in surgical procedures such as minimally invasive surgery and the technological advancement in surgical equipment are anticipated to boost the growth.
By application, the sports medicine market is segmented into knee injuries, shoulder injuries, ankle & foot injuries, back & spine injuries, elbow & wrist injuries, hip injuries, and others. Knees injuries dominate the segment owing to the increasing incidences of knee injuries caused in sports. For instance, according to studies published in the British Journal of Sports Medicine, knees are the most regularly injured body parts in a game of ice hockey, and knee injury accounts for 41% of all sports injuries. One-fifth of them involve the anterior cruciate ligament (ACL), which are among the most economically costly sports injuries, frequently requiring expensive surgery and rehabilitation.
Global Sports Medicine Market – Geographical Analysis
North America dominates the global sports medicine market owing it to the increasing prevalence of sports injuries, raising awareness among people regarding physical fitness and a growing number of sports medical centers in the region. For instance, ACL injuries are common sports injuries. According to Anterior Cruciate Ligament (ACL) Injury Prevention, an article published in 2017, it estimates that around 350,000 ACL reconstructions are performed annually in the USA and despite surgical repair, approximately 79% of those individuals develop knee osteoarthritis, and 20% suffer re-injury within two years. Other factors responsible for the growth of the market are the improved healthcare infrastructure and the increased focus of healthcare providers on trauma and related injuries.
The Asia Pacific is the fastest growing region in the global sports medicine market owing it to rise in the adoption of sports as a career, and increasing awareness in regards to injuries is likely to propel growth. For instance, the Asia Pacific Knee, Arthroscopy and Sports Medicine Society (APKASS) conducts conferences annually to educate healthcare professional regarding the recent transformations in this field in efforts to promote research and create a medium for education and awareness.
Global Sports Medicine Market – Competitive Analysis
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New and innovative product launches, as well as FDA approvals, are other strategies adopted by lead players to improve their market presence.
January 2019, Zimmer Biomet Holdings, a global leader in musculoskeletal healthcare, announced U.S. FDA clearance of the ROSA Knee System for robotically-assisted total knee replacement surgeries. ROSA Knee features 3D pre-operative planning tools and real-time, intraoperative data on soft-tissue and bone anatomy designed to improve bone cut accuracy and range of motion gap analysis to improve flexion and restoration of natural joint movement potentially.
January 2019, Smith & Nephew, the global medical technology business, announced it completed the acquisition of Ceterix Orthopaedics, the developer of the NovoStitch Pro Meniscal Repair System. The purchase supports the Company’s strategy to invest in innovative technologies that meet unmet clinical needs.
January 2019, physician COL Sean Mulvaney, MD, a distinguished military sports medicine and pain physician, has introduced Annapolis-area patients Lipogems, it’s an FDA-cleared medical technology in orthopedic medicine. Lipogems uses human fat to provide cushion and support to promote healing and recovery of orthopedic issues.
November 2018, Stryker completed the acquisition of K2M Group Holdings Inc., a global leader of complex spine and minimally invasive solutions.
October 2018, Stryker announced the completion of the acquisition of Invuity, a leader in advanced photonics and lighted instruments that deliver improved visualization for a variety of clinical applications including orthopedic and spine surgery and general surgery.
May 2017, Stryker’s Sports Medicine and AlloSource announced collaboration to distribute and provide high-quality biologics for use in sports medicine procedures.
September 2016, Stryker acquired Ivy Sports Medicine, whose portfolio comprises of a comprehensive minimally invasive meniscal repair platform.
Major players for the sports medicine industry include Stryker Corporation, Zimmer Biomet, and Smiths & Nephew.
Why Purchase the Report?
• Visualize the composition of the global Sports Medicine Market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.
• Identify commercial opportunities in global Sports Medicine Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the global Sports Medicine Market – level 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key products of all major market players
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Table of Contents
1. GLOBAL SPORTS MEDICINE MARKET -SCOPE AND METHODOLOGY
2. GLOBAL SPORTS MEDICINE MARKET -KEY TRENDS AND DEVELOPMENTS
3. INDUSTRY ANALYSIS
4. GLOBAL SPORTS MEDICINE MARKET SEGMENTATION
5. GLOBAL SPORTS MEDICINE MARKET -BY GEOGRAPHY
6. COMPETITIVE LANDSCAPE
7. COMPANY PROFILES
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