Press release
Sports medicine Market Growth by Top Companies, Demand, Trend, Gross Margin and Forecasts to 2023
Sport Medicines is the medical branch that deals with the treatment, prevention and diagnosis of the injuries or illness of athletics or sportsman. Sports medicines plays an important part in the sports. The global sport medicine market is driven by increasing incident of sports injuries, increasing number of the sports medicine association, technological development and increasing awareness. According to US centers for diseases control, around 10 % of kids and teen participating in the sports suffer from minor or major type of injury and majority of the sports injury occur during 12-16 yr. of age. Sports like Football and baseball has the highest rate of injury. Beside this lack of safety and carelessness during practice or game is the major reason for occurrence of the sports injuries. On other hand high cost and unfavourable reimbursement policies may hamper the growth of the market.
Global Sports Medicine Market Information; By Product (Joint Reconstructive & Repair Products, Support & Recovery Products, Accessories & Consumables, Others); By Application (Shoulder Treatment, Knee Treatment, Hip Treatment, Spine Treatment, Others); by Procedure (Tendinosis, Tendon to Bone, Cartilage Repair); By End-User (Hospitals & Emergency Care, Trauma Centers, Ambulatory Care, Others) - Forecast to 2023
The global sports medicines market on the basis of product type is segmented into reconstructive products, support and recovery products and accessories. Joint reconstructive & repair products segment accounts the largest market share of the global sports medicine market by product type. Continuous innovation in research and development, technological advances and introduction of new and better surgical procedures has led to increase the market for reconstruction product.
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Also majority of the people are unaware of the safety measures of the sports which led to sports injury. Due to lack of skilled professionals for treating paediatric sports injuries the market growth may hamper. There are limited physician available who are well experienced and trained. Limited number of doctors in sports medicines is one of the major restraining factor for this market.
Considering all these factors the market for sports medicine is expected to reach $ 9,655.6 million by the end of 2023, this market is projected to growing at a CAGR of 8.9 % during 2017-2023.
Key players of Global Sports medicine Market:
Key players profiled in the report are Medtronics, Stryker, Zimmer Biomet, CONMED Corporation, DePuy Synthes, GE Healthcare, Smith & Nephew plc, Arthrex, Inc. and others.
Key Findings
The global sports medicines market is expected to reach USD 9,655.6 million by 2023
Tendinosis commands the largest share market of 54% in global sports medicine market by procedures.
North America has the largest market share of 39% in global sports medicines market.
Asia pacific region is expected to be the fastest growing segment with the CAGR of 9.2% during the forecasted period.
There are more than 2569 companies associated with sports medicine and sports medicine devices all around the world.
Arthrex, Inc is the global leader for the global sports medicine market.
Segments:
The global sports medicine market is segmented on the basis of product. Based on the product, the market has been segmented as joint reconstructive & repair products, support & recovery products, accessories & consumables and others. Based on the application, the market has been segmented as shoulder treatment, knee treatment, hip treatment, spine treatment, and others. Based on the procedure, the market has been segmented as tendinosis, tendon to bone and cartilage repair. Based on the End User, the market has been segmented as hospitals & emergency care, trauma centers, ambulatory care, and others.
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The report for Global Sports medicine Market by Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
Regional analysis
Global sports medicine market, on the basis of region is segmented into North America, Europe, Asia Pacifica and Middle East and Africa. North America has the largest market share of 39% in global sports medicines market and commands the largest market share in 2016 and was valued at USD 1,883.6 Million in 2016. Increasing prevalence of sports injuries and increasing number of sports medical centres in North America is responsible for the growth of the market. Europe accounts the second largest market which is followed by Asia Pacific. Asia pacific region is expected to be the fastest growing segment with the CAGR of 9.2% during the forecasted period, due to continuous development in healthcare sector and increasing awareness about health and sports. While Middle East and Africa has least income for the sports medicine market.
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