APAC Sports Medicine Market Is Poised To Grow USD 9.3 Billion Till 2024
According to Data Bridge Market Research new Market report “APAC 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 Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Trends and Forecast to 2024” is projected to reach USD 9.3 billion by 2024 from USD 3.7 billion in 2016, at a CAGR of 12.2% in the forecast period 2017 to 2024.
The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Presently arthroscopy procedures are the best solution in sports medicine but due to change in coming years with more emphasis being laid in regenerative and biologics technologies to treat broken cartilages and bones. Technologies such as platelet rich plasma, bone marrow concentrate, and other upcoming technologies are expected to drive the sports medicine market in the future. Due to very low clinical evidences and high regulations on research of biologics the arthroscopy procedures will still dominate the market in the forecast period to 2024
APAC Sports Medicine Market – Market Segmentation:
The market is segmented on the basis of Product Type, Body Area, End-User and Region.
On the basis of product type the market is segmented into Orthobiologics, surgical devices, arthroscopy devices and orthopedic braces and supports.
On the basis of body area into knee, hip, shoulder and elbow, foot and ankle and, hand and wrist. The hip and knee segment is expected to dominate the market with more than 55% market share in 2017, and this trend is expected to continue in the forecasted years 2017 to 2024.
Based on end-users the market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers and others. The orthopedic clinics segment is expected to hold the major share of this market in 2015, owing to increased day care surgeries over inpatient arthroscopy procedures in developed markets.
The APAC sports medicine market is also segmented by type which include: knee arthrosopic procedures, hip arthrosopic procedures, shoulder and elbow arthrosopic procedures, foot and ankle arthrosopic procedures, and hand and wrist arthrosopic procedures.
APAC Sports Medicine Market – Geographical Segmentation:
Based on geography the market is segmented into 8 regions, Japan, Australia, China, India, Singapore, Malaysia, Thailand and Others.. Japan being the one of the forerunner in advanced cellular therapies used in sports medicine is expected to fuel the growth of the Asia-Pacific Sports medicine market.
APAC Sports Medicine Market – Competitive Landscape:
The APAC sports medicine market is highly fragmented with various companies operating in local regions. 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 of the examples for these strategies are In June 2016, DJO Global, a leading global provider of medical technologies designed to get and keep people moving, launched the Clima-Flex™ OA Knee Brace offering a new level of comfortable cooling relief through compression and offloading for patients with mild to moderate osteoarthritis knee pain.
The APAC sports medicine market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.
Some of the major players operating in this market are Arthrex, Inc., Smith and Nephew, Medtronic, Stryker, Conmed Corporation, Zimmer, Inc., DJO Global, Ossur Corporate, Ottobock Healthcare GmbH, Breg, Inc., Tornier, Inc., Mueller Sports Medicine, Inc., Cramer Products, Inc., RTI Surgical among others.
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