Sports Medicine Market Outlook to 2025 by Leading Key Players - Medtronic, Smith & Nephew, Stryker, Conmed, Wright Medical Technology

The sports medicine market is estimated to represent a global market of USD 6.68 billion by 2017 with growth rate of 7.5%. Sport medicine includes the medicines that can be used for treatment and prevention of injuries related to the exercise and sports. Sport medicine term is broad team that involves physiologists, kinesiologists, athletetrainers, physicaltherapists, physical educators and many others. Product segment is divided into Body Monitoring, Body Reconstruction, Body Support, and Sports Accessories. Body reconstruction and support devices collectively captured more than 50% share of the global market.

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High usage coupled with technological advancement has supported the market growth of these segments. Body monitoring segment is categorized as Cardiac, Hemodynamic, Musculoskeletal and Others. Body Reconstruction is further divided into Surgical equipment, Soft tissue repair, and Bone reconstruction devices. Body support devices is categorized as Braces devices, Compression clothing, and Hot & cold therapy. Hot and cold therapy is primarily used to control swelling. This is the safest and one of the most effective therapy for sport injuries. Heat can be applied through a heating pad, heat bag, hot water bottle, heat lamp, and deep heat cream. Heat helps dilate blood vessels that in the end bring more blood to the site stimulating healing of damaged tissue. Moreover, heat can also ease stiffness by making tissue suppler. Cold therapy is used for soft tissue injuries to control bleeding, prevent inflammation, and to reduce muscle spasm.

Accessories include bandages, tapes, disinfectants, wraps, and other accessories, such as scissors, cutters, blister packs, etc. Bandages dominated accessories segment in 2015. Increasing incidents of injuries where there is need to prevent infection, is anticipated to contribute to the growth of this segment. Sport medicine market, by application segment is categorized as Knees, Shoulders, Back & Spine, Hips, and Others. Knee devices accounted for the largest share of the global market in 2016. This segment is anticipated to maintain its leading position with rising volume of knee surgeries. The high cost of these devices and longer follow up period are the major factors challenging the market growth. Moreover, stringent regulatory guidelines for approval of class III medical devices are slowing the approval process of orthopedic devices. Thus, the overall impact of these factors is expected to lead the market to significant share compared to other applications.

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Regionally, the market is categorized as North America, Europe, Asia Pacific, and Rest of the World. Around 49.36% share of the global market revenue is captured by North American countries, dominated by the U.S. market. Increasing number of orthopedic procedures because of high prevalence of accidents caused during physical activity has supported the sports medicine market growth in this region. For instance, according to the CDC, around 51.4 million orthopedic procedures were performed in the U.S. in 2015. Highest prevalence of orthopedic conditions coupled with high adoption of advanced treatment procedures is fuelling the growth of the market in the U.S. Asia Pacific region is seen as promising market, growing at 9.1% growth rate over the forecast period. Countries such as India, Japan and China exhibits their great potential to capture significant revenue share of the total Asia Pacific market. For example, Japan has presence of a large number of implant manufacturers in the country. The country has a higher health care expenditure as compared to the other countries in the region. Moreover, high adoption rate of the new technology and presence of various hazardous individual sports within the region are expected to fuel the growth of the sports medicine market.

Companies such as Medtronic, Smith & Nephew, Stryker, Conmed, Wright Medical Technology and others are present in this market. Stryker is considered to be one of the prominent player of this market. The company offers products and services related to medical, surgical, orthopedic, sports medicine, and neurotechnology. The product offerings include joint replacement solutions, trauma products, micro and spine implant systems, powered surgical instruments, orthobiologics, endoscopic products, patient handling equipment, emergency equipment, and surgical navigation systems.

The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2016 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2017 to 2025 for every reported segment.

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This release was published on openPR.