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Market News: Surgical Devices Market Segment Is Expected To Account for the Largest Bit Of 47.9% of the Asia Pacific Sports Medicine Market 2017

Press release from: Data Bridge Market Research
Asia Pacific Sports Medicine Market ? Industry Trends and Forecast to 2024
Asia Pacific Sports Medicine Market ? Industry Trends and Forecast to 2024
Asia Pacific Sports Medicine Market is expected to reach USD 5,884.9 million by 2024 from USD 2,312.8 million in 2016, at a CAGR of 12.3% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Asia Pacific Sports Medicine Market, By Product Type (Orthobiologics (Bone Graft Substitutes,(Bone Allografts, Synthetic Bone Materials, Demineralized Bone Matrix (DBM), Bone Morphogenetic Proteins) (BMP)) 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 Regional – Industry Trends and Forecast to 2024

The major factors driving the growth of this market are the rising incidences of sport related injuries are driving the market growth, awareness among athletes to maintain their fitness levels. The sports medicine market in the Asia-Pacific region is leading in China, India, Japan, and South Korea.

Asia Pacific Sports Medicine Market – Market Segmentation:

The Asia Pacific Sports Medicine Market is segmented on the basis of product type, body area, end user, and geography. The Asia Pacific Sports Medicine Market is segmented into 4 types, namely orthobiologics, surgical devices, arthroscopy devices, orthopaedic Braces and Supports. In 2017, surgical devices market segment is expected to account for the largest share of 47.9% of the Asia Pacific Sports Medicine Market.

Asia Pacific Sports Medicine Market is segmented into knee, hip, shoulder & elbow, foot & ankle and wrist & hand on the basis of body area.

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On the basis of procedures, Asia Pacific Sports Medicine Market is segmented into knee arthroscopic procedures, hip arthroscopic procedures, shoulder and elbow arthroscopic procedures, foot and ankle arthroscopic procedures, and hand and wrist arthroscopic procedures. Knee arthroscopic procedure market segment is expected to account for the largest share of 40.6% in Asia Pacific Sports Medicine Market.

On the basis of end users, the market is classified into orthopedic clinics, hospitals, ambulatory surgical centers and others. In 2017, the hospitals segment is expected to dominate the Asia Pacific Sports Medicine Market with 56.0% market share. This segment is expected to grow at the highest CAGR of 13.7% in the forecast period 2017 to 2024.

Key Drivers:
• Minimally invasive procedures such as arthroscopy are in high demand since they significantly reduce the recovery time and result in reduced bleeding and scarring.
• Growing awareness of various lifestyle diseases has resulted in a significant increase in participation in various sports and physical activities across the globe.
• The use of regenerative medicine in sports injuries has led to very promising treatment options in sports medicine.

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Asia-Pacific Sports Medicine Market – Competitive Landscape:

The Asia-Pacific sports medicine market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some examples of recent strategies/developments are: Smith & Nephew plc acquired Arthocare, a medical device company with a sports medicine portfolio, Arthrex, Inc. partnered with Osiris Therapeutics, Inc., a cellular and regenerative medicine company that manufactures products for wound care, orthopedics, and sports medicine, Wright Medical Group, Inc. and Tornier N.V. joined hands by merger among many others.

Major Players/Manufacturers:

Some of the major players operating in this market are Arthrex, Inc. is going to dominate the Asia Pacific Sports Medicine Market following with Smith & Nephew and DePuy Synthes, along with others such as Stryker Corporation, CONMED Corporation, Johnson & Johnson, Bird & Cronin, Inc., Zimmer Biomet, Anika Therapeutics, Ossur, Breg Inc., Mueller Sports Medicine, Inc., DJO global, Medtronic.

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