Sports Medicine Devices Market - Witnessed Significant Growth over the Years, Due To Increase in Government Initiatives in This Field
Sports medicine is an area of the medical industry that deals with athletes' physical fitness. It also requires prevention and treatment of injuries associated with sports and exercise. Common sports injuries include anterior cruciate ligament (ACL) tears, ankle sprain, muscle spasms, and new splint. The demand for sports medicine equipment has increased significantly by the active participation of players in various sports in different countries. Various aspects of sports medicine, such as fitness and sporting activities, athletic training recommendations, sports injury prevention and treatment, contribute to market growth.
The incidence of sports-related injuries in the young population has greatly increased, leading to the growth of the sports medical device market. Moreover, sports injuries have widespread among the younger population as a result of increased sport participation. Also, the increase in initiatives to encourage governments in various countries to promote sporting activities and to increase demand for minimally invasive surgery stimulates market growth. In addition, advanced and easy-to-access treatment products are quickly and easily recoverable due to sports medicine, which increases the demand for sports medicine.
However, lack of skilled professionals and inadequate management and guidance in sports medicine hinders market growth. Conversely, the increased adoption of regenerative sports medicine is expected to provide a profitable opportunity for the expansion of this market.
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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.
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.
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.
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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%.
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