Sports Medicine Market 2018; superior Growth at a CAGR of 8.9 % | with Top Industry Players like Medtronics, Stryker, Zimmer Biomet, CONMED Corporation, etc. by 2023

Sports Medicine Market Research Report 2018 to 2023, is added on MarketResearchFuture.com with Latest Advancement. Detail analysis on possible segments and sub segments of the market. Along with this regional analysis of the market which includes Americas, Europe, Asia Pacific and Africa.

Market Scenario:

Sports injuries decrease the productivity of athletes or sportsmen. Shoulder and elbow are the most common sites of sports injuries. Sports medicine specifically provides care for such types of injuries and help to the reduce pain. Most of the sports academies have tie-ups with a number of orthopedic hospitals and sport medicine centers to provide immediate care to the players.

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Therefore, increasing prevalence of sports injuries, growing awareness about sports injury & its treatment, and demand for effective medical care & rehabilitation services contribute to the growth of the market. Additionally, the government initiatives pertaining to sports medicine increase the participation of athletes in sports globally.

According to the Centers for Disease Control and Prevention, on an average of about 8.6 million sports and recreation related injuries episodes were reported in 2016. Moreover, it was estimated that males and people aged from 5 years to 24 years accounted for more than one-half of the injury episodes. Further, the rise in the demand for minimally invasive surgeries adds to the market growth.

However, the factors like lack of skilled labors along with high cost may restrain the market growth during the forecast period. Moreover, inappropriate administration and guidelines regarding sports medicine may hamper the global sports medicine market growth.

The global market for sports medicine is expected to reach $ 9,655.6 million by the end of 2023 and this market is projected to grow at a CAGR of 8.9 % during 2017-2023.

Top players:

Medtronic (Ireland), Stryker (U.S.), Zimmer Biomet (U.S.), CONMED Corporation (U.S.), DePuy Synthes (U.S.), GE Healthcare (U.K.), Smith & Nephew plc (U.K.), etc.

Global Sports Medicine Market - Competitive Landscape

The global sports medicine market is found to be a highly competitive market and the competition is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers. The prominent players in this market incorporate in the acquisition, collaboration, partnership, expansion, and product launch in order to gain a competitive advantage in this market and to maintain their market position.

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In August 2016, Stryker Orthopedics received the U.S. FDA approval for MAKO total knee application. This helped the company to expand its partial knee and total hip applications portfolio and it also provided a comprehensive solution in the robotic reconstructive service line of Stryker.

In March 2015, Smith & Nephew launched Q-FIX implant, an all suture implant technology which assists surgeon’s flexibility for all sutures anchors along with fixation and pull-out strength equivalent to largely sized anchors.

In October 2014, Breg announced a merger with United Orthopedic Group, a company dealing in orthopedic implants. This merger benefitted the Breg to become a leading provider of sports medicine, rehabilitative orthopedic products, and services in the United States.

In May 2014, Smith & Nephew announced an acquisition of ArthroCare, an innovative medical device company based in the U.S. specialized in tissue repair devices. This acquisition helped the company to enrich its sports medicine product portfolio.

In February 2014, Stryker Corporation acquired Pivot Medical, Inc., a private company dealing in innovative products for hip arthroscopy. This acquisition helped the company in expanding its sports medicine portfolio.

Global Sports Medicine Market - Regional Analysis

The Americas region dominates the global sports medicine market. This can be attributed due to the technology advanced healthcare market, and increase in sports-related injuries within the region. According to the American Orthopedic Society for Sports Medicine, in the United States, an estimated 4 million people undergo knee arthroscopies, whereas the number of patients undergoing shoulder arthroscopies is 1.4 million per annum. Moreover, the rise in the physically challenging sports, increasing growth in the field of regenerative medicine, government initiatives and many others has led to the market growth.

The European market for sports medicines is growing due to increasing awareness among the athletes regarding their physical fitness, increase in the number of sport medicine associations all around Europe and increase in the number of sport-related injuries.

The Asia-Pacific region is the fastest growing market for the forecasted period owing to the presence of developing countries such as China, India, and increasing awareness about health and sports. Further, the statistics demonstrated that sport-related injuries constitute about 5% of the injuries endured by the populace in China. This is a high number, considering the way that China has the biggest population in the world. On the other hand, Middle East & Africa have the least share of the market owing to poor economies especially in the African region.

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