North America Sports Medicine & Therapies market Flourishes Relentlessly; Asserts MRFR Unleashing Industry Forecast Up To 2023

Sport medicines and therapies is a medical branch which deals with the treatment and therapeutics of the injuries of the athletes and others sports persons. Many drivers and restrains are projected to affect market growth during the forecast period. Increasing prevalence of sports injuries and increasing health awareness followed by the rising adoption of the sports by elderly population are the major drivers for the market growth. Moreover, growing per capita healthcare expenditure will fuel the market during the forecast period. According to Centers for Disease Control and Prevention, on an average about 8.6 million sports and recreation related injuries episodes were reported in 2016. Moreover, it was estimated that males and people aged from 5 years to 24 years accounted for more than one-half of the injury episodes. On the other hand, lack of skilled professionals and high cost of the sports injury treatment may restrain the growth of market.

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The North America Sports Medicine & Therapies is growing with the rapid pace. According to a recent study report published by the Market Research Future, the North America Sports Medicine & Therapies is booming and is expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 - 2023).

North America Sports Medicine & Therapies- competitive Analysis

Smith & Nephew plc (UK), DePuy Synthes (US), Medtronics (UK), Zimmer (US), Arthrex, Inc. (US), Stryker Corporation (US), Breg, Inc. (US), CONMED Corporation (US), Tornier N.V. (US), DonJoy, Inc. (US), Mueller Sports, Inc.(US), Ottobock Healthcare GmbH (Germany), DJO Global (US), Cramer, Inc.(US) are some of the prominent players at the forefront of competition in the North America Sports Medicine & Therapies and are profiled in MRFR Analysis. 

Characterized by the presence of several well-established and small players, the North America Sports Medicine & Therapies Market appears to be a highly competitive and fragmented market. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

Medtronic is one of the significant players in the market. The company is U.S. based and is one of the global leaders in providing cardiovascular products. The company enhances its products sales across the globe by the strategy of acquisitions, collaboration which is followed by product launches to tap the growing markets of the middle and low income countries. In 2016, the company’s revenue was about USD 28,833 million and R&D expenditure accounted for 7.7% of the total revenue.

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In Aug-2016, Medtronic completed the acquisition of HeartWare International, Inc., a leading innovator of less-invasive, miniaturized, mechanical circulatory support technologies (MCS) for treating patients with advanced heart failure.

In Sep-2017, Stryker completed the acquisition of NOVADAQ Technologies Inc. NOVADAQ is a leading developer of fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels, and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures.

In Jan-2016, CONMED Corporation completed the  acquisition of privately-held SurgiQuest, Inc.

North America Sports Medicine & Therapies- regional analysis

The North America leads global sports medicine & therapies. This can be attributed due to the technology advanced healthcare market within the region. The North America is followed by Europe. Countries like the U.K, France, Germany and Russia within the region are extensively grows the market in the presence of the developed healthcare sector.  The Asia Pacific is the fastest growing market. On the other hand, Middle East & Africa have the least share of the market.

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