“The sports medicine market projected to grow at a CAGR of 7.4%.”
The global sports medicine market is projected to reach USD 8.24 billion by 2022 from USD 5.78 billion in 2017, at a CAGR of 7.4%. The key factors driving the growth of this market are increasing incidences of sports injuries, continuous influx of new products and treatment modalities, and development in the field of regenerative medicine. However, the high costs of orthopedic implants and other devices are restraining the growth of the market.
The body reconstruction products segment is expected to account for the largest share in 2017
On the basis of product, the sports medicine market is segmented into body reconstruction products, body support & recovery products, and accessories. In 2017, the body reconstruction products segment is expected to account for the largest share of the market. The large share of this segment can primarily be attributed to the wide usage of implants and arthroscopy devices by sports medicine surgeons and orthopedic surgeons for sports-related injuries. The body reconstruction products segment is further segmented into implants, fracture & ligament repair devices, arthroscopy devices, prosthetics, and orthobiologics. In 2017, the fracture & ligament repair devices segment is expected to account for the largest share of the market. The high incidence of fractures and ligament tears in sports is expected to drive the market for fracture and ligament repair devices. The orthobiologics segment is expected to register the highest CAGR during the forecast period. The recent developments in regenerative medicine, allografts, and stem cell therapy to treat broken bones is expected to drive the growth of the orthobiologics market.
By application, the elbow and wrist segment to witness the highest growth during the forecast period (2017–2022)
Based on application, the market is segmented into shoulder injuries, foot and ankle injuries, elbow and wrist injuries, back and spine injuries, hip and groin injuries, knee injuries, and other injuries (head, face, and finger injuries). The elbow and wrist injuries segment is expected grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing number of injuries in sports like rowing, racquet sports, and golf, where there is a repetitive overuse of elbow and wrists.
Asia Pacific (APAC) to witness the highest growth during the forecast period (2017-2022)
Asia Pacific is expected to witness the highest growth during 2017 to 2022. The influx of international players, government initiatives to promote sports medicine, and collaborations for sports medicine research are the key factors responsible for the growth of this market in the APAC region.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–55%, Tier 2–25% and Tier 3–20%
• By Designation – C-level–43%, Director Level–32%, Others–25%
• By Region – North America–38%, Europe–23%, Asia Pacific–29%, RoW–10%
The key players in the global sports medicine market are Arthrex, (US), Smith & Nephew (UK), DePuy Synthes (US), Stryker (US), CONMED (US), Zimmer Biomet (US), Breg (US), DJO Global (US), Mueller Sports (US), Wright Medical Group (US), Medtronic (Ireland), RTI Surgical (US), and Performance Health International (US).
The report analyzes the sports medicine market and aims at estimating market size and future growth potential of this market based on various segments such as product, application, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global sports medicine market. The report analyzes the global sports medicine market by product, application, and region.
• Service Enhancement/Innovation: Detailed insights on upcoming trends and new service launches in the global sports medicine market
• Market Development: Comprehensive information on the lucrative emerging markets by product, application, and region
• Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global sports medicine market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, services, and capabilities of sports medicine of leading players in the global market