Sports Medicine Devices Market Comprehensive Study by Leading Key Players: Smith & Nephew Plc., Stryker Corporation, Johnson & Johnson (Depuy Mitek), Arthrex, Inc. and other
Increased incidences of sports-related injuries, active government participation in sports activities, and surge in demand for minimally invasive surgeries (MIS) have boosted the growth of the global sports medicine devices market. However, dearth of skilled professionals, unfavorable reimbursement strategies, and unsuitable administration and guidelines pertaining to sports medicine hinder the market growth. On the contrary, rise in influx of athletes and rapid advancements in sports medicine are expected to create remunerative opportunities for the market players in the near future.
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The major companies profiled in the report include
• Smith & Nephew Plc.
• Stryker Corporation
• Johnson & Johnson (Depuy Mitek)
• Arthrex Inc.
• Conmed Corporation
• Zimmer Biomet Holdings Inc.
• Breg Inc.
• Mueller Sports Medicine Inc.
• DJO Global Inc.
• Wright Medical Group N.V.
The other players operating in the global sports medicine devices market include Richard Wolf GmbH, Ceterix Orthopaedics, General Electric Company, KFx Medical LLC, Medtronic Plc., MedShape, Inc., Osiris Therapeutics, Inc., and NuVasive, Inc.
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The body reconstruction & repair segment is anticipated to dominate the market during the forecast period. This is attributed to the fact that body reconstruction & repair products are majorly used in the treatment and prevention of sport-related injuries. Among body reconstruction & repair products, the bone/cartilage repair & reconstruction segment is expected to register the highest CAGR of 8.6% during the forecast period.
Considering body support & recovery products, the support devices & braces segment was the highest revenue contributor in 2017, accounting for five-ninths share. The knee injuries segment is estimated to grow at the highest CAGR of 8.6% from 2018 to 2025, as athletes frequently suffer from such injuries. Sports medicines are principally employed in the treatment of knee injuries, owing to increase in incidence of meniscus tear among sportspersons.
KEY FINDINGS OF THE STUDY
• The body support & recovery segment is anticipated to generate the second highest revenue during the forecast period.
• The cardiac segment dominated the body monitoring & evaluation market, accounting for one-third of the total share in 2017.
• North America dominated the market, accounting for maximum share of overall market in 2017.
• Artificial joint implants serve to be the highest contributor to the orthopedic sports medicine devices market in 2017 and is expected to maintain this dominance throughout the forecast period.
• Shoulder injury segment accounted for one-sixth of the total share in 2017, registering a CAGR of 5.4%.
Asia-Pacific witnessed the highest growth rate in the sports medicine devices market, and is expected to continue this trend during the forecast period. This is attributed to the increase in active participation in sports by people of this region. In addition, various market players focus on the opportunities offered by the sports industry of this region.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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