Global Sports Medicine Market Will Grow at a CAGR of 8.7% During Forecast Period 2017-2024
Global Sports Medicine Market, By Product Type (Orthobiologics (Bone Graft Substitutes, Viscosupplementation, BMC, PRP), Surgical Devices (Plates and Screws), Arthroscopy Devices, Orthopedic Braces and Supports), By Body Area (Knee, Hip, Shoulder & Elbow, Foot & Ankle, Wrist & Hand), By End Users (Orthopedic Clinics, Hospitals, Ambulatory Surgical Centers, Others), By Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Trends and Forecast to 2024
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Global Sports Medicine Market: Recent Developments
Sports medicines are used to prevent, treat, diagnose, and rehabilitate injured patients related to exercise, sports, or any other physical activity. Factors such as rising incidence of new product launches, sports injuries, and developments, innovations in the field of regenerative medicine and expansion by key players in the emerging economies are expected to drive the growth of the sports medicine market.
The global sports medicine market is highly concentrated to a few big players and rest to local players who cater to domestic markets only. Arthrex, Inc dominated the sports medicine market accounting for a highest market share in 2016, followed by Smith & Nephew, DePuy Synthes, Stryker Corporation, CONMED Corporation. Other players in this market include Johnson & Johnson, Bird & Cronin, Inc., Zimmer, Inc., Biomet Inc., Anika Therapeutics, Ossur, Breg Inc., Mueller Sports Medicine, Inc., DJO global, Medtronic among others holds 25% of the global sports medicine market in 2016.
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Founded in 1981 as Arthrex, Inc and head quartered in Florida, U.S. is engaged in the development and marketing of orthopaedics products. The company operates through only one business segment namely orthopaedics.
Incorporated in June 1856 and headquartered in London, United Kingdom Pfizer Inc., is engaged in the development and marketing of medical products and services. The company operates through four business segments, such as sports medicine, advanced wound care management, orthopaedic reconstruction, and trauma and extremities. The sports medicine segment offers a wide range of technologies or implants for repair of soft tissue injuries, fluid management equipment for surgical access, digital cameras, digital image capture, scopes, light sources and monitors to assist with visualization, radiofrequency wands, electromechanical and mechanical blades and, hand instruments for resecting damaged tissue.
1. In January 2016, Smith & Nephew acquired first line cartilage repair product known as BST-CarGelused along with microfracture and other bone marrow stimulation techniques for the initial treatment of most sizes of focal cartilage tears.
2. In June 2015, Smith & Nephew acquired Zimmer’s Unicondylar Knee system (ZUK) in U.S. market. ZUK is a clinically proven uni knee replacement introduced globally in 2004. Smith & Nephew has purchased all existing inventory and certain intellectual property for the U.S. market.
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Founded in 1941 and headquartered in Michigan, U.S., Stryker Corporation specializes in reconstructive, medical and surgical, and neurotechnology and spine products. The company has three business segments—orthopedic implants, MedSurg, and neurotechnology and spine.
1. In November 2016, Stryker announced a multi-year collaboration with Indo UK Institute of Health’s (IUIH) Medicity Program to serve as a preferred partner in the orthopedic areas of hip, knee, and trauma products and services. Stryker and IUIH’s new relationship will provide greater access to affordable primary joint replacements and other healthcare services to patients in India.
2. In April 2016, Stryker Corporation acquired Physio-Control International, Inc. Physio-Control develops, manufactures and markets monitors/defibrillators, automated external defibrillators (AEDs) and CPR-assist devices along with data management and support services.
Global Orthopedic Prosthetics Market – Industry Trends and Forecast to 2024
Global Orthopedic Prosthetics Market, By Product Type (Upper Extremity Prosthetics (Hand Prosthetics, Elbow Prosthetics, Shoulder Prosthetics), Lower Extremity Prosthetics (Foot & Ankle Prosthetics, Knee Prosthetics, Hip Prosthetics), Liners, Sockets, Modular Components), By Technology (Manual Prosthetics, Electric Powered Prosthetics, Hybrid Prosthetics), By End User (Hospitals, Clinics, Rehabilitation Centers, and Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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